December 20, 2014 9:04 PM ET

Electric Utilities

Company Overview of The Connecticut Light and Power Company

Company Overview

The Connecticut Light and Power Company, a regulated electric utility, is engaged in the purchase, delivery, and sale of electricity to residential, commercial, and industrial customers. As of December 31, 2013, it furnished retail franchise electric services to approximately 1.2 million customers in 149 cities and towns in Connecticut. The company was founded in 1905 and is based in Berlin, Connecticut. The Connecticut Light and Power Company is a subsidiary of Northeast Utilities.

107 Selden Street

Berlin, CT 06037

United States

Founded in 1905

1,566 Employees

Phone:

860-665-5000

Key Executives for The Connecticut Light and Power Company

Chief Executive Officer and Director
Age: 65
President
Age: 59
Chief Financial Officer
Age: 58
Chairman
Age: 67
Senior Vice President
Age: 56
Compensation as of Fiscal Year 2014.

The Connecticut Light and Power Company Key Developments

Connecticut Light and Power Company Adopts Amended and Restated Bylaws

On September 29, 2014, The Connecticut Light and Power Company adopted amended and restated Bylaws effective as of such date. The Bylaws were amended and restated as part of an initiative across NU subsidiary companies to update and standardize Bylaws, including the following items: Established a consistent Board size of not less than three Directors, with the number fixed by the stockholders or the Board from time-to-time; Established a consistent slate of required Company Officers, which includes a President, a Treasurer and a Secretary; Added a provision that provides increased flexibility with respect to the conduct of regular or special meetings, permitting Directors to participate in such meetings by remote communication while still being considered present in person at the meeting; Amended the notice provision related to an annual or special meeting of stockholders, requiring the Secretary to provide notice at least ten but not more than sixty days before the meeting to each stockholder entitled to vote; Standardized the provisions relating to the indemnification of Directors, Officers and agents and further provide for maximum indemnification protection allowed by law; Included a provision that the Bylaws may be altered, amended or repealed by a majority vote of stockholders or by the Board, except with respect to any provision which by law, the Certificate of Incorporation or the Bylaws requires action by the stockholders; and Made certain other non-substantive and conforming changes to clarify existing provisions and to standardize such provisions across all NU subsidiary companies.

The Connecticut Light and Power Company Announces Earnings Results for the Second Quarter and First Half of 2014

The Connecticut Light and Power Company announced earnings results for the second quarter and first half of 2014. For the second quarter, the company reported revenue was $35.9 million compared with $66.5 million for the same period in the last year. Lower second quarter results were due primarily to lower transmission earnings resulting from the reserve, a 2.8% reduction in retail sales, and higher depreciation, property tax and interest expense. For the first half, the company reported revenue was $113.9 million compared with $150.1 million for the same period in the last year.

CL&P Reports Earnings Results for the First Quarter of 2014

CL&P reported earnings results for the first quarter of 2014. For the period, the company reported $77.9 million compared with earnings of $83.6 million in the first quarter of 2013. Results reflect a higher effective tax rate in the first quarter of 2014 due to the impact last year of the previously mentioned 2013 tax settlement.

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