- Business
- Eversource Energy (NYSE: ES), New England's largest energy delivery company, transmits and distributes electricity and natural gas to approximately 4.4 million residential, commercial, and industrial customers across Connecticut, Massachusetts, and New Hampshire; it also provides water service through its Aquarion Water Company subsidiary to over 230,000 customers in the same region. The company operates through regulated subsidiaries including Connecticut Light and Power, Yankee Gas Services, NSTAR Electric, NSTAR Gas, Public Service Company of New Hampshire, and Eversource Water, maintaining 4,270 circuit miles of electric transmission lines, 72,000 pole miles of distribution lines, 578 substations, 6,459 miles of natural gas pipeline, and extensive water infrastructure. Headquartered in Springfield, Massachusetts, with additional offices in Hartford, Connecticut, and Boston, Massachusetts, Eversource traces its origins to the 1966 formation of predecessor Northeast Utilities through mergers of utilities dating back to the 19th century and rebranded to its current name in 2015.
Eversource focuses on electric transmission and distribution (including grid modernization projects like underground cabling, substation enhancements, and low-profile substations), natural gas distribution, and water delivery services; it invests heavily in clean energy integration, reliability improvements, and infrastructure upgrades to support decarbonization and economic growth in its service territories. The company serves diverse customer segments with tailored programs for energy efficiency, electric vehicle charging (over 400 stations installed), bill assistance, and outage management.
In recent developments, Eversource completed the sale of its 50% stakes in South Fork Wind (132 MW) and Revolution Wind (704 MW) offshore wind projects to Global Infrastructure Partners in September 2024 for adjusted gross proceeds of $745 million, finalizing its exit from the offshore wind business; it also sold Sunrise Wind to Ørsted in July 2024 and an uncommitted offshore lease area earlier that year. In January 2025, Eversource announced a definitive agreement to divest Aquarion Water Company for approximately $1.6 billion to the Aquarion Water Authority, a Connecticut quasi-public entity, with the transaction expected to close by late 2025 pending regulatory approvals after an initial rejection by the Connecticut Public Utilities Regulatory Authority in November 2025. The company unveiled a $24.2 billion five-year capital investment plan for 2025-2029, up nearly 10% from prior plans, allocating funds primarily to electric distribution ($16.2 billion total across segments), transmission ($6.8 billion), natural gas, and clean energy initiatives; other 2024-2025 actions include acquiring a 26-acre Mystic property from Constellation Energy in December 2024 to bolster Massachusetts clean energy transition and advancing innovative grid monitoring systems recognized with industry awards.