- Business
- The Connecticut Light and Power Company operates as a regulated electric utility, providing retail franchise electric services through the purchase, delivery, and sale of electricity to approximately 1.27 million residential, commercial, and industrial customers across 149 cities and towns in Connecticut, covering 4,400 square miles; it maintains transmission facilities integrated into the New England interstate power grid but owns no generation assets. Incorporated in 1905 and headquartered at 107 Selden Street in Berlin, Connecticut, the company functions as a wholly owned subsidiary of Eversource Energy, a public utility holding company, with about 1,600 employees supporting distribution and transmission operations primarily within Connecticut and broader New England markets. Core services encompass standard electric supply options such as Eversource-procured generation services charge and bypassable federally mandated congestion charges, alongside local delivery encompassing grid maintenance, authorized returns, and public benefits including systems benefits, renewable energy investments, conservation adjustment mechanisms, and energy efficiency programs.
In recent developments, the company continues regular quarterly declarations of dividends on its 13 series of preferred stock, with the latest announcements in September 2025, June 2025, March 2025, and December 2024, reflecting stable financial operations amid parent company Eversource Energy's strategic shifts . Eversource Energy, its parent, faced a credit rating downgrade for Connecticut subsidiaries including The Connecticut Light and Power Company to A- from A by S&P in December 2024 due to adverse regulatory developments for investor-owned utilities in Connecticut, alongside ongoing earnings reports showing third quarter 2025 non-GAAP recurring earnings contributions . No major acquisitions, new product launches, or reorganizations specific to the company appear in the last 1-2 years, though it benefits from Eversource's exit from offshore wind in September 2024 via sales to Global Infrastructure Partners and focus on grid reliability innovations recognized with a 2025 national achievement award .