NASHUA – Eversource Energy posted earnings of $319 million from July 1 to Sept. 30, which reflects a $30 million increase from the $289 million New England’s largest utility earned during the same three-month span in 2018.

Even as profits soar at Eversource, company leaders believe they can curb carbon dioxide (CO2) pollution to such a degree that the firm will be “carbon neutral” by 2030.

“As New England’s largest utility, we are proud to partner with our states and communities to achieve regional clean energy and carbon reduction goals,” Eversource Chairman, President and CEO Jim Judge said Wednesday in announcing the plan. “We are going one step further by setting a goal for our own operations to help demonstrate that carbon neutrality is achievable.”

Generally, coal-fired electricity generation is the major source of CO2 emissions related to utilities. Eversource has already significantly reduced its own carbon emissions, including the divestiture of all its remaining fossil generation facilities in 2018.

Eversource officials said they believe they can maintain reliable service to their approximately 4 million customers while curbing carbon dioxide emissions. Company leaders listed several steps they plan to take to achieve carbon neutrality, including:

Improving the efficiency of 69 facilities;

Reducing emissions from a fleet of 5,200 vehicles;

Enhancing the electric transmission and distribution system to reduce line losses;

Reducing sulfur hexafluoride (a potent greenhouse gas) in gas-insulated electric switchgear; and

Replacing remaining bare steel and cast-iron to improve safety and help prevent methane leaks from natural gas distribution infrastructure.

Methane is a technically a different greenhouse gas than CO2. Princeton University researchers estimate methane “is roughly 30 times more potent as a heat-trapping gas,” while other estimates state methane traps up to 86 times more heat in the atmosphere than carbon dioxide does.

“The business community has an important role to play as we pursue clean energy and carbon reduction goals, as environmental sustainability and economic development go hand-in-hand,” President and Executive Director of the Environmental Business Council of New England Dan Moon said on Wednesday. “As one of the nation’s leading energy companies, it’s encouraging that Eversource is proactively setting its own goals and demonstrating its commitment to a cleaner energy future.”

As a company, Eversource officials said they are helping the New England region in achieving carbon-reduction targets that have been set by state and regional requirements with its clean energy initiatives-such as the offshore wind partnership with Ørsted, award-winning energy efficiency programs, solar development, innovative battery storage projects and electric vehicle charging infrastructure.

“We are excited to set an ambitious goal with our own corporate operations to lead by example,” Judge added on Wednesday. “Today’s news reinforces our position at the forefront of environmental sustainability and builds on our efforts to help our customers and communities reduce their carbon footprint.”

Newsletter