August 23, 2014 12:40 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

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

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.

Connecticut's Public Utilities Regulatory Authority Calls for Suspension of Enhanced Tree Trimming by Connecticut Light and Power Company and United Illuminating Company

Connecticut's Public Utilities Regulatory Authority (PURA) requested that tree trimming efforts by the Connecticut Light and Power Company (CLandP) and United Illuminating Company (UI) temporarily be scaled back following public opposition and concerns raised regarding the plans. Based on its review of information and testimony recently submitted by UI and CLandP, as well as elected officials and ratepayers, PURA directed that CLandP and UI voluntarily curtail "enhanced" tree trimming programs, including removal of entire trees, pending a final ruling in its proceeding. The PURA initiated its investigation as part of Governor Dannel P. Malloy's multi-pronged storm disaster preparedness and recovery initiatives. In this proceeding, the PURA sought to expand its evidentiary record to assess and address Connecticut utility companies' tree trimming plans to prevent excessive weather-related infrastructure damage. In its ruling today, the PURA directs CLandP and UI to respond in writing to the suspension request within three business days. The ruling does not seek a suspension of routine vegetation management activities.

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April 18, 2014
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