Eversource Energy (NYSE: ES) is a regulated electric and natural gas utility company that transmits and distributes electricity and natural gas to customers across New England. Revenue comes from regulated rates set by state utility commissions, charged to residential, commercial, and industrial customers for electricity and gas delivery. Eversource operates through principal subsidiaries including The Connecticut Light and Power Company, NSTAR Electric Company, and Public Service Company of New Hampshire, each serving distinct state-level service territories. As a regulated utility, its earnings are tied to rate base investment rather than commodity prices or market share competition. The company is capital-intensive by structure, with returns governed by regulatory proceedings in Connecticut, Massachusetts, and New Hampshire. As of January 31, 2026, all common shares of its three primary electric operating subsidiaries were wholly owned by Eversource Energy. Common shares trade on the NYSE under the ticker ES with a par value of $5.00 per share and 370,802,303 shares outstanding held by non-affiliates as of June 30, 2025.

Revenue model

Regulated utility rate model. Revenue is collected through state-commission-approved tariffs charged to customers for electricity transmission, electricity distribution, and natural gas distribution. Returns are tied to allowed rates on invested rate base capital.

Products and services

Electric transmission and distribution services, natural gas distribution services, delivered through subsidiaries The Connecticut Light and Power Company, NSTAR Electric Company, and Public Service Company of New Hampshire.

Customers and end markets

Residential, commercial, and industrial electricity and natural gas customers across Connecticut, Massachusetts, and New Hampshire. Customer base is captive within regulated service territories.

Value-chain role

Regulated transmission and distribution utility. Does not generate or sell electricity as a commodity. Owns and operates the wires and pipes that deliver energy to end customers.

Geographic exposure

New England, United States. Operates in Connecticut (via The Connecticut Light and Power Company), Massachusetts (via NSTAR Electric Company), and New Hampshire (via Public Service Company of New Hampshire).

Source: SEC 10-K, filed 2026-02-17

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