Slide 1: 2022 Second Quarter Results
EVERSOURCE ENERGY Q2 2022 RESULTS July 29, 2022 2022 Second Quarter Results Exhibit 99.3
Slide 2: Safe Harbor Statement
EVERSOURCE ENERGY Q2 2022 RESULTS Safe Harbor Statement 1 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 and EPS of each business do not represent a direct l
Slide 3: Agenda
EVERSOURCE ENERGY Q2 2022 RESULTS Agenda 2 Joe Nolan President & CEO ▪ 2021 Sustainability and DE&I Reports Published ▪ Legislative and Clean Energy Project Update ▪ Offshore Wind Update ▪ Q2 2022 Financial Results ▪ Regulatory Update ▪ Financing Activity Update John Moreira CFO & Treasurer
Slide 4: Eversource 2021 Sustainability and Diversity, Equity and Inclusion Reports
EVERSOURCE ENERGY Q2 2022 RESULTS 3 Eversource 2021 Sustainability and Diversity, Equity and Inclusion Reports ▪ 2021 Sustainability Report published this month ▪ Highlights our progress to advance environmental, social and governance (ESG) performance ▪ Greenhouse gas emissions were again third - p
Slide 5: Clean Energy Project Update
EVERSOURCE ENERGY Q2 2022 RESULTS 4 Clean Energy Project Update ▪ Provincetown Battery Storage Project – Successfully tested and placed in service on May 31, 2022 – Innovative and unique project – Non - wires alternative improves reliability for Outer Cape customers ▪ Massachusetts Solar Project – 2
Slide 6: Offshore Wind Update
EVERSOURCE ENERGY Q2 2022 RESULTS ▪ Strategic review of offshore wind assets underway – Could result in potential sale of all or part of our 50% interest – Finalizing marketing materials for prospective buyers – Initiated preliminary outreach ▪ South Fork Wind construction continues to progress – Vi
Slide 7: Offshore Wind Updates
EVERSOURCE ENERGY Q2 2022 RESULTS 6 Assumptions May 2022 July 2022 Costs Locked in for Three Projects 80% 82% Offshore Investment to Date $1.3B $1.5B Expected Spending in 2022 $900M - $1B $900M - $1B Expected Spending 2023 - 2026 $3B - $3.6B $3B - $3.6B Expected Long - Term Average ROE 11 - 13% 11 -
Slide 8: New MA Climate Legislation
EVERSOURCE ENERGY Q2 2022 RESULTS 7 New MA Climate Legislation ▪ MA House and Senate approved significant climate legislation on July 21 (House Bill #5060) – Gov. Baker has until July 31 to sign, veto or seek modifications to the bill ▪ Substantial enhancements to commitment to offshore wind – Affir
Slide 9: Second Quarter and First Half 2022 Financial Results
EVERSOURCE ENERGY Q2 2022 RESULTS 8 2Q 2022 2Q 2021 2Q Change 1H 2022 1H 2021 1H Change $0.44 $0.40 $0.04 $0.87 $0.79 $0.08 0.37 0.35 0.02 0.78 0.69 0.09 0.02 0.01 0.01 0.49 0.44 0.05 0.03 0.03 0.00 0.04 0.04 0.00 0.00 0.00 0.00 (0.02) (0.02) 0.00 0.86 0.79 0.07 2.16 1.94 0.22 (0.02) (0.02) 0.00 (0.
Slide 10: Well Performing Core Businesses Drive EPS CAGR to Upper Half of 5-7%
EVERSOURCE ENERGY Q2 2022 RESULTS 9 Well Performing Core Businesses Drive EPS CAGR to Upper Half of 5 – 7% Through 2026; EPS Guidance Narrowed for 2022 $2.28 $2.53 $2.65 $2.81 $2.96 $3.11 $3.25 $3.45 $3.64 $3.86 $4.04 - $4.14 2012A* 2013A* 2014A* 2015A* 2016A 2017A 2018A 2019A* 2020A* 2021A* 2022E*
Slide 11: Projected Capital Expenditures For Core Businesses
EVERSOURCE ENERGY Q2 2022 RESULTS Projected Capital Expenditures For Core Businesses $1,030 $964 $1,115 $1,118 $979 $861 $834 $808 $1,221 $1,189 $1,244 $1,450 $1,469 $1,391 $1,372 $1,338 $453 $545 $799 $921 $849 $926 $895 $938 $110 $127 $144 $154 $163 $176 $190 $206 $239 $239 $239 $254 $224 $208 $20
Slide 12: AMI Implementation Under Active Review by MA, CT Regulators
EVERSOURCE ENERGY Q2 2022 RESULTS 11 AMI Implementation Under Active Review by MA, CT regulators AMI - MA Briefing period ended June 27, 2022 Decision expected Q4 2022 AMI - CT Briefing period ended April 29, 2022 Additional written comments filed on July 20, 2022 Decision expected Q4 2022 What does
Slide 13: Rate Review Summary
EVERSOURCE ENERGY Q2 2022 RESULTS 12 Rate Review Summary NSTAR Electric ▪ Expected decision date of December 1, 2022 ▪ Rates effective on January 1, 2023 ▪ Revenue deficiency of $94M ▪ Requested return on equity of 10.5% ▪ Requested capital structure of 54.01% common equity Aquarion Connecticut ▪ Le
Slide 14: Equity Issuance Update
EVERSOURCE ENERGY Q2 2022 RESULTS 13 Equity Issuance Update New Shares ▪ $1.2 billion At - The - Market Program has issued 1.39M shares at a weighted average price of $91.98 through July Treasury Shares ▪ Dividend reinvestment, employee equity programs continue with nearly 640,000 shares issued YTD