New England Power Company PFD 6%
NEWEN
Other OTC112.00
USD
- -
- -
CIK
0001004315
ISIN
US6441883021
CUSIP
644188302
Return %
Stock
S&P500
1Y
-11.60
26.53
3Y
1.82
76.60
5Y
-27.92
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Zoe A Yujnovich
- Full Time Employees
- 7
- Sector
- Utilities
- Industry
- Regulated Electric
- Address
- 170 Data Drive Waltham MA United States of America 2451
- IPO Date
- Sep 25, 2012
- CIK
- 0001004315
- Similar Companies
- Business
- New England Power Company (NEWEN), a wholly owned subsidiary of National Grid USA, operates electric transmission facilities in Massachusetts, New Hampshire, Vermont, and, until December 31, 2022, Rhode Island; it provides regional network service, local network service, transmission congestion contracts, transmission service agreements, and stranded cost recovery through contract termination charges associated with prior divestitures of electricity generation investments (nuclear and non-nuclear). The company maintains approximately 9,000 miles of high-voltage transmission lines across these regions under tariffs administered by the Federal Energy Regulatory Commission (FERC) and coordinated with ISO New England, serving wholesale customers including affiliates such as Massachusetts Electric Company and formerly Rhode Island Energy; it also holds non-controlling equity method investments in decommissioned nuclear facilities (Yankee Atomic, Connecticut Yankee, Maine Yankee) and affiliates New England Hydro-Transmission Electric Company, Inc. and New England Hydro-Transmission Corporation. Headquartered in Westborough, Massachusetts, with origins tracing to early 20th-century hydroelectric developments in the region, the company focuses on regulated electric transmission within the New England Balancing Authority Area spanning six states. In recent years, New England Power Company ceased operations of Rhode Island transmission facilities as of January 1, 2023, following National Grid USA's May 25, 2022 sale of Rhode Island Energy to PPL Energy Holding, LLC, after which PPL assumed those responsibilities. The company continues significant capital investments, with property, plant, and equipment growing to $3.95 billion net as of March 31, 2025, supported by capital expenditures of $476 million in fiscal 2025; it pursues infrastructure upgrades including the A1/B2 Asset Condition Refurbishment and E131 Rebuild projects to replace aging structures with steel H-frames. Ongoing FERC proceedings, such as the September 2025 order requiring additional information on regional transmission upgrades and a January 2025 abandoned plant incentive filing for the Power Up New England Project, reflect strategic expansions to enhance grid reliability amid rising demand. Operating revenues reached $609 million in fiscal 2025, driven by formula rates recovering costs plus return on investment, with net income of $190 million.