Slide 1: 2023 Third Quarter Results
EVERSOURCE ENERGY Q3 2023 RESULTS 2023 Third Quarter Results November 6, 2023
Slide 2: Safe Harbor Statement
EVERSOURCE ENERGY Q3 2023 RESULTS Safe Harbor Statement All per-share amounts in this presentation are reported on a diluted basis. The only common equity securities that are publicly traded are common shares of Eversource Energy. The earnings discussion includes financial measures that are not reco
Slide 3: Agenda
EVERSOURCE ENERGY Q3 2023 RESULTS Agenda Joe Nolan Offshore Wind Update Chairman, President & Supply Prices and Customer Initiatives CEO Clean Energy Transition John Moreira Q3 2023 Financial Results EVP, CFO & Treasurer Offshore Wind Investment Update Cash Flow Update 2
Slide 4: Offshore Wind Project Summary
EVERSOURCE ENERGY Q3 2023 RESULTS Offshore Wind Project Summary South Fork Wind Revolution Wind Sunrise Wind Size 130 MW 704 MW 924 MW Final Investment Decision February 11, 2022 October 31, 2023 Anticipated in 1H 2024 Expected in service Early 2024 Late 2025 Late 2025 Onshore construction Pre-const
Slide 5: Focus on Customer Needs Today, Tomorrow, and For Years to Come
EVERSOURCE ENERGY Q3 2023 RESULTS Focus on Customer Needs Today, Tomorrow, and For Years to Come Top decile reliability performance for customers Months Between Interruptions over 20 months YTD2023 Reliability #1 Ranked Energy ~$2 Billion MA clean Energy Clean Efficiency Provider Efficiency Customer
Slide 6: Massachusetts ESMP: A Collaborative Approach Enabling the Clean Energy Future
EVERSOURCE ENERGY Q3 2023 RESULTS Massachusetts ESMP: A Collaborative Approach Enabling the Clean Energy Future ESMP was submitted in full transparency bringing environmental justice, business, and consumer advocates to the table Electrification plans result in 2023 2024 2025 New England electri
Slide 7: Third Quarter and Nine Months 2023 Financial Results
EVERSOURCE ENERGY Q3 2023 RESULTS Third Quarter and Nine Months 2023 Financial Results 3Q 2023 3Q 2022 3Q Change 9M 2023 9M 2022 9M Change Electric Transmission $0.46 $0.44 $0.02 $1.36 $1.32 $0.04 Electric Distribution 0.50 0.65 (0.15) 1.44 1.43 0.01 Natural Gas Distribution (0.10) (0.07) (0.03) 0.4
Slide 8: Impact of 2023 NSTAR Electric Rate Design Change on Quarterly EPS
EVERSOURCE ENERGY Q3 2023 RESULTS Impact of 2023 NSTAR Electric Rate Design Change on Quarterly EPS Distribution 2022 Non- Assuming Rate 2022 Pro Forma Non- % of Total GAAP Design Change GAAP Results if Rate EPS Results by Effective January Design Change Had Quarter 1st, 2022 Been Effective January
Slide 9: Well Performing Core Businesses Drive EPS CAGR Solidly into Upper Half of 5-7% Through 2027
EVERSOURCE ENERGY Q3 2023 RESULTS Well Performing Core Businesses Drive EPS CAGR Solidly into Upper Half of 5 – 7% Through 2027 $4.30- $4.09 $4.43 $3.86 $3.64 $3.45 $3.11 $3.25 $2.81 $2.96 $2.53 $2.65 $2.28 2012A* 2013A* 2014A* 2015A* 2016A 2017A 2018A 2019A* 2020A* 2021A* 2022A* 2023E* 2024E 2025E
Slide 10: Projected Capital Expenditures for Core Businesses
EVERSOURCE ENERGY Q3 2023 RESULTS Projected Capital Expenditures for Core Businesses $21.5 Billion 2023-2027 $5,000 $4,463 $4,373 $4,434 $4,500 $4,304 $215 $219 $170 $213 $244 $3,945 $4,000 $3,786 $203 $218 $194 $3,541 $208 $266 $235 $3,500 $1,035 $239 $155 $1,038 $1,146 $1,115 $3,064 $144 $ In Mill
Slide 11: 2023 Parent Debt and Equity Issuances and Maturities
EVERSOURCE ENERGY Q3 2023 RESULTS 2023 Parent Debt and Equity Issuances and Maturities 2023 Debt Issuances through October 2023 Equity Issuances through October Company Size/Coupon Maturity New Shares Parent $750M @ 5.45% Mar 1, 2028 $1.2 billion At-The-Market Program issued Parent $550M @ 5.45% M