8-KRegulation FDExhibits & Filings

EVERSOURCE ENERGY 8-K Report, Regulation FD Disclosure (Sep 24, 2007)

Filed September 24, 2007For Securities:ES

Summary

Eversource Energy (ES), formerly Northeast Utilities (NU), filed an 8-K on September 24, 2007, to disclose information presented at the Merrill Lynch Power & Gas Leaders Conference. The key takeaway for investors concerns the Glenbrook Cables transmission project, a subsidiary of The Connecticut Light and Power Company (CL&P). While the project remains on schedule for a second-half 2008 in-service date, the estimated cost to complete has increased from $183 million to $223 million, representing a significant cost overrun. Despite this cost increase for the Glenbrook Cables, CL&P's other major transmission projects, the Middletown-Norwalk project and the Long Island Replacement Cable project, are reported to be on schedule and on budget. Investors should note that this information is provided under Regulation FD and is furnished, not filed, with the SEC, meaning it is not subject to the same level of review as other SEC filings.

Key Highlights

  • 1Northeast Utilities (NU) presented at the Merrill Lynch Power & Gas Leaders Conference on September 25, 2007.
  • 2The Glenbrook Cables transmission project, a CL&P subsidiary initiative, has an increased estimated cost to complete, rising from $183 million to $223 million.
  • 3The Glenbrook Cables project is still scheduled to be put into service in the second half of 2008.
  • 4CL&P's other major transmission projects, Middletown-Norwalk and Long Island Replacement Cable, remain on schedule and on budget.
  • 5The information provided is furnished under Regulation FD and incorporated by reference into the filing.
  • 6This filing does not incorporate information into registration statements unless specifically stated.

Frequently Asked Questions

The primary financial impact is the increased estimated cost to complete for the Glenbrook Cables transmission project, which rose from $183 million to $223 million. This represents a substantial cost increase for this specific project.

No, the filing explicitly states that CL&P's other two major southwest Connecticut transmission projects, the Middletown-Norwalk project ($1.05 billion) and the Long Island Replacement Cable project ($72 million), remain on schedule and on budget.

The Glenbrook Cables project is still scheduled to be placed in service in the second half of 2008, despite the increased cost estimate.

This information is being provided under Regulation FD (Fair Disclosure) to ensure that material non-public information presented at the Merrill Lynch conference is simultaneously disclosed to the public. It's a method of transparently sharing important updates with investors.