Eversource earns $319 million
BOSTON – Eversource Energy earned $319 million from July 1 to Sept. 30, reflecting an increase from the $289.4 million the utility provider generated during the same three-month quarter in 2018.
Put another way, the company made about $30 million more in the 2019 third quarter as compared to the third period in 2018.
However, the company’s total earnings of $659 million for the first nine months of 2019 reflects a decline from the $801.7 million haul of the same period in 2018.
Eversource Chairman, President and CEO Jim Judge said the company was pleased with its financial performance to date, but most thankful for the exceptionally difficult, around-the-clock work employees undertook in mid-October after a severe Nor’easter struck large sections of the electric service territory, particularly southeast Massachusetts and eastern Connecticut.
Officials said wind gusts near Cape Cod were clocked at more than 90 mph, causing extensive damage to tree cover and distribution lines. Another severe windstorm struck New England on Halloween night, causing extensive damage, particularly in Connecticut.
“We thank our employees for safely and promptly restoring service to our customers and we thank our customers for the patience they showed as we went about our work,” Judge said. “Rising to the challenge posed by extreme weather is a key element of providing the top-tier service our nearly 4 million customers expect from us.”
Eversource’s electric distribution segment earned $197.3 million in the third quarter, compared with earnings of $173.8 million in the third quarter of 2018.
Eversource’s electric transmission segment earned $107.5 million in the third quarter, compared with earnings of $109.5 million in the third quarter of 2018.
Eversource’s natural gas distribution segment lost $17.1 million in the third quarter, which compares to a loss of $12.6 million in the third quarter of 2018.
Eversource’s Aquarion Water Co. subsidiary earned $17.5 million in the third quarter, compared with earnings of $17.6 million in the third quarter of 2018.