能源方案 2024年度报告

Selected Financial Data (Thousands of dollars, except share information and statistical data) Total Shareholder Return (Assumes $100 invested on December 31, 2014, with all dividends reinvested) Company Profile Eversource Energy (NYSE:ES), a Fortune 500and Standard & Poor’s 500 energy companybased in Connecticut, Massachusetts and NewHampshire, operates New England’s largestenergy delivery system. Eversource iscommitted to safety, reliability, environmentalleadership and stewardship for its 4.6 millionelectric, natural gas and water customers. Dear Shareholders, In 2024, Eversource’s dedicated team of more than10,000 employees again excelled in deliveringsafe, reliable electricity, natural gas and water toour more than 4.6 million customers. We workedsafely, met financial goals, increased our dividend,and executed on key strategic initiatives. I am veryproud of our team’s performance. This past year, though not without challenges, brought wins and accomplishments throughout thebusiness. On the strategic front, we completed our divestiture of offshore wind assets and announcedthe sale of Aquarion Water. These steps position Eversource as a pure-play, regulated “pipes and wires”utility company – the largest in New England – with tremendous opportunities for system investment.These strategic initiatives also enhanced our financial position and improved our risk profile. We are forecasting a cumulative long-term earnings per share growth rate in the range of 5 to 7 percentthrough 2029. Also, we successfully raised $1 billion of equity to enhance our balance sheet condition,while raising our annualized dividend by 5.9 percent over 2023 to $2.86 per share to positionEversource as a sound choice for investors. The chart accompanying this letter displays our recentgrowth in recurring earnings per share and dividends per share. Regulatory and legislative decisions enabled progress in important areas such as advancing theregion’s clean energy goals and planning for future load growth. Massachusetts passed aforward-looking climate bill that included infrastructure siting reforms, crucial to the clean energytransition. Massachusetts also approved our Electric Sector Modernization Plan, a comprehensiveframework for the extensive system investments needed to enable clean energy and support the state’sdecarbonization and electrification goals. We filed rate requests for our Connecticut natural gas and New Hampshire electric operations, whichare under review. In New Hampshire, we received a productive decision on temporary rates while therate request is being reviewed. We have also proposed Performance-Based Regulation in both states;this ratemaking model, which ties revenue to performance metrics, is successfully used inMassachusetts. We also have significant storm cost recovery filings under review in all three states.While we pursue recovery of prior investments, we recognize affordability as an important concern, andare involved in state dockets and discussions while offering customers a variety of assistance programs. We continue to share our perspective with Connecticut regulatory and legislative stakeholders, as wellas customers, to ensure they understand the need for a constructive regulatory climate. We workedwith Connecticut leaders to advance clean energy solutions in a balanced manner and obtainedconstructive outcomes, such as a positive Rate Adjustment Mechanism decision that provided timelyrecovery of public benefit related charges. In the clean energy space, our innovative networked geothermal pilot project in Framingham,Massachusetts, was commissioned. We received approval for projects combining solar energy andstorage; completed Phase 1 of our Cape Cod Solution transmission project, which will enable cleanenergy interconnection; earned approval for our Greater Cambridge Energy Program, an innovativetransmission and distribution program with resiliency and clean energy benefits; and made a strategicacquisition of a uniquely positioned property in Everett, Massachusetts, which has strong potential as aclean energy hub. We continued to implement systems, both internal and external, to streamline operations and providebetter, more convenient customer service. These include game-changing Advanced MeteringInfrastructure, or “smart meters,” in Massachusetts, which we are on schedule to begin installing by theend of 2025. However, some operating challenges we faced in 2024 remain, and we are laser-focused on addressingthem. Our total shareholder return has lagged our industry peers and the S&P 500, as uncertainty overthe Connecticut regulatory environment, our risk associated with offshore wind asset sales and theneed for balance sheet enhancement has affected our share price. We believe our renewed focus onregulated utility operations and our commitment to enhancing our balance sheet offer strong promisefor the future, and we are working hard to execute on this strategy. The Greater Cambridge Ener