Eversource: New England's Largest Energy Delivery Company

Eversource Energy is a major energy provider serving New England, with a significant presence across Connecticut, Massachusetts, and New Hampshire. As New England's largest energy delivery company, Eversource serves approximately 4.4 million customers throughout these three states.

Company Overview

Eversource is a publicly traded, Fortune 500 energy company with dual headquarters in Hartford, Connecticut, and Boston, Massachusetts. The company employs nearly 10,000 people committed to providing safe, reliable, and sustainable electric, gas, and water service. Their operations trace back to the middle of the 19th century, with the current company being formed through multiple mergers of various regional utilities over the decades.

Service Areas and Market Position

Eversource holds dominant positions in several New England markets:

• Connecticut's largest electric utility: Serving more than 1.2 million customers across approximately 149 cities and towns.
• New Hampshire's largest electric utility: Serving over 500,000 customers throughout 211 cities and towns.
• Major Massachusetts energy distributor: Providing service to 1.7 million customers, including over 1.4 million electric customers in 140 communities and more than 300,000 natural gas customers in 51 communities.

Business Structure and Services

Eversource operates as an energy holding company with several key business areas:

• Electricity transmission and distribution through its various subsidiaries.
• Natural gas distribution to hundreds of thousands of customers.
• Water services sourced from owned surface water reservoirs, groundwater wells, and purchases from other water suppliers.
• Energy procurement from various suppliers including independent power producers, industrial companies, utilities, oil and natural gas producers, financial institutions, and energy marketers.
• Energy conservation and management solutions for customers.

Before rebranding as Eversource, the company operated six main subsidiaries: Connecticut Light and Power (CL&P), Public Service Company of New Hampshire (PSNH), Western Massachusetts Electric Company (WMECO), Yankee Gas Services Company (Yankee Gas), NSTAR Electric, and NSTAR Gas. All these entities now operate under the Eversource name.

Recent Business Developments

Eversource has made significant moves to diversify its business:

• Water utility acquisition: In June 2017, Eversource announced a $1.675 billion merger with Aquarion Water Company, which was completed in December 2017 after receiving government approval. Aquarion became a fully owned subsidiary while retaining its own name, adding 300 employees and 230,000 customers across Connecticut, Massachusetts, and New Hampshire.
• Wind energy ventures and divestment: In 2016, Eversource started joint ventures with Ørsted for wind farm developments. However, in 2023, the company announced plans to sell off its equity in these projects (Bay State Wind, South Fork Wind, Revolution Wind, and Sunrise Wind) at an expected loss of $200 million.

Corporate Focus Areas

Eversource highlights several key priorities in its corporate messaging:

• Sustainability: The company emphasizes sustainability as embedded in how they conduct business for current and future generations.
• Infrastructure investment: Eversource focuses on ensuring grid readiness for increased demand and investing in its transmission system to enable integration with clean energy resources.
• Economic development: The company works to encourage economic growth in its communities by supporting local businesses and investing in infrastructure.
• Innovation: Delivering safe, reliable power and advancing clean technologies through innovative solutions.
• Community support: As a corporate citizen, Eversource provides grants, charitable events, and maintains a volunteer program to support the communities they serve.

Practical Takeaways for Eversource Professionals

For professionals in the Eversource industry, understanding the dynamic landscape in which Eversource operates is crucial. Here are some actionable insights:

• Explore opportunities in renewable energy sectors, such as wind or solar, as the company realigns its strategic assets.
• Stay informed about regulatory changes and how they might impact energy distribution and service rates.
• Engage with community and economic development initiatives to foster stronger ties with local stakeholders.

How Eversource's Expertise Relates to Our Services

As a leader in energy consulting, we understand the complexities of transitioning to sustainable resources while maintaining efficient energy delivery systems. Our services align with Eversource's priorities by providing guidance on energy conservation, infrastructure investment, and innovative clean technologies.

To learn more about how you can leverage our expertise alongside Eversource's advancements, contact us today to explore partnership opportunities.

For more detailed information, read the full reports on Yahoo Finance, Finimize, and MSN Money.

Call to Action

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