Molly Ayala
Eversource is a publicly traded Fortune 500 energy company that provides electricity, gas, and water services to approximately 4 million customers in Connecticut, Massachusetts, and New Hampshire. It is Connecticut's largest electric utility company, serving over 1.2 million customers in 149 cities and towns. However, it is not the only electric company in Connecticut. The Public Utilities Regulatory Authority (PURA) regulates two investor-owned electric distribution companies in the state: Eversource and The United Illuminating Company (UI).
| Characteristics | Values |
|---|---|
| Number of customers in Connecticut | 1.2 million+ |
| Number of towns served in Connecticut | 149 |
| Area covered in Connecticut | 4,400 square miles |
| Headquarters in Connecticut | Hartford |
| Alternative suppliers available in Connecticut | Yes |
| Renewable energy sources | Natural gas, wind, hydroelectricity, solar power |
| Other states served | Massachusetts, New Hampshire |
| Parent company | Eversource Energy |
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What You'll Learn
History of Eversource
Eversource Energy is a publicly traded energy company, providing retail electricity, natural gas, and water services to approximately 4 million customers in Connecticut, Massachusetts, and New Hampshire. It is headquartered in Hartford, Connecticut, and Boston, Massachusetts.
Eversource's predecessor, Northeast Utilities (NU), was formed on July 1, 1966, through the merger of three companies: the Connecticut Light and Power Company (CL&P), formed in 1917, Western Massachusetts Electric Company (WMECO, formed in 1886), and the Hartford Electric Light Company (HELCO, formed in 1878). This merger created the first new multi-state public utility holding company since the enactment of the Public Utility Holding Company Act of 1935.
Over the years, other companies joined the NU System, including the Holyoke Water Power Company (HWP) in 1967 and the Public Service Company of New Hampshire (PSNH) in 1992. PSNH had declared bankruptcy in 1988 due to issues with obtaining a license for the Seabrook Nuclear Power Plant. In 2012, Northeast Utilities merged with Boston-based NSTAR, which itself was the product of several corporate mergers, including the Boston Edison Company and the Cambridge Electric Light Company.
On February 2, 2015, the company rebranded as Eversource Energy, and its stock symbol changed from "NU" to "ES" on February 19. Eversource has continued to expand through mergers and joint ventures, including a $1.675 billion merger with Aquarion Water Company in 2017 and wind farm developments with Ørsted in 2016. Eversource also agreed to sell its generation assets in New Hampshire, following similar sales in Massachusetts and Connecticut between 2000 and 2006.
Today, Eversource remains Connecticut's largest electric utility, serving over 1.2 million customers in approximately 149 cities and towns in the state. It is also the largest electric utility in New Hampshire and a major energy distributor in Massachusetts. Eversource has participated in projects to improve the reliability of the power grid in southwest Connecticut, including the construction of a $350 million transmission line and the Greater Springfield Reliability Project.
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Towns and territories served by Eversource
Eversource Energy is a publicly traded energy company that serves Connecticut, Massachusetts, and New Hampshire. It is the largest energy delivery company in New England, delivering energy to approximately 4 million customers across the three states.
In Connecticut, Eversource's electric service territory includes 157 towns, while its natural gas service territory covers 85 towns. The company is regulated by the Public Utilities Regulatory Authority (PURA), which oversees the rates and services of the state's two investor-owned electric distribution companies (EDCs): Eversource and The United Illuminating Company (UI).
Eversource's predecessor, Northeast Utilities (NU), was formed in 1966 through the merger of the Connecticut Light and Power Company (CL&P), Western Massachusetts Electric Company (WMECO), and the Hartford Electric Light Company (HELCO). Over the years, other companies joined the NU System, including the Holyoke Water Power Company (HWP) in 1967 and the Public Service Company of New Hampshire (PSNH) in 1992.
While I cannot provide a complete list of the 157 towns served by Eversource in Connecticut, the company's website allows customers to check if Eversource provides electric and/or gas service to their town.
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$79.97
Other energy companies in Connecticut
In Connecticut, there are two investor-owned electric distribution companies (EDCs): The Connecticut Light and Power Company, also known as Eversource Energy, and The United Illuminating Company (UI). As New England's largest energy delivery company, Eversource serves approximately 4 million customers in Connecticut, Massachusetts, and New Hampshire.
However, customers in Connecticut have a choice of several other energy companies. CTEnergyRatings, for example, allows customers to compare various electricity companies in the state and choose the one that best suits their needs. The website rates companies based on their rates, customer service, and range of electricity plans. According to CTEnergyRatings, the highest-rated electricity companies in Connecticut are Constellation and Direct Energy, which have been designated as Gold Tier Providers.
Customers can use websites like CTEnergyRatings to research over 7000 provider reviews and find a retailer that offers attractive rates and reliable service. When choosing an energy provider, it is essential to select a supplier that offers competitive rates while remaining dependable. Electric utilities are responsible for maintaining their poles and wires, while utilities manage their network of pipes and valves.
In addition to the EDCs, the Public Utilities Regulatory Authority (PURA) also licenses electric suppliers and registers electric aggregators. They oversee renewable energy and renewable portfolio standards, promoting clean energy programs and initiatives in Connecticut.
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Renewable energy initiatives by Eversource
Eversource, one of the two investor-owned electric distribution companies in Connecticut, is proud to be recognised as one of the greenest energy companies in the US. The company is committed to bringing clean, reliable energy to its approximately 4 million customers in Connecticut, Massachusetts, and New Hampshire.
Eversource has implemented several renewable energy initiatives to achieve its sustainability goals. One of their key initiatives is the adoption of distributed generation (DG), which refers to the production of electricity from small-scale energy conversion sources, such as customer solar panels. By the end of 2023, more than 164,000 customers had installed renewable generation sources that connected to the Eversource grid, resulting in over 3,700 MW of customer-owned renewable energy. To encourage the adoption of DG, Eversource has proposed an industry-leading approach to allocate grid upgrade costs equitably between distribution customers and DG developers.
In addition to its work with DG, Eversource offers various clean energy options to its customers. The company helps connect solar power to its electric grid, allowing customers to produce clean energy for their homes and reduce their environmental impact. Eversource also promotes the use of electric vehicles (EVs), which can provide cost savings and environmental benefits, and heat pump systems, which offer clean, affordable, and environmentally-friendly technology for heating and cooling.
Eversource's commitment to sustainability is embedded in its business practices and policies. The company integrates environmental, social, and governance (ESG) initiatives into its decision-making processes to ensure that its operations are conducted with future generations in mind. Eversource's efforts towards a more sustainable future are in line with Connecticut's Renewable Portfolio Standards and statewide clean energy programs, demonstrating their alignment with the state's renewable energy goals.
Overall, Eversource is actively contributing to the energy transition and working hard to bring clean and reliable energy to its customers. Through their initiatives in distributed generation, customer solar power, and the promotion of clean energy technologies, Eversource is playing a key role in shaping a more sustainable energy landscape in Connecticut and beyond.
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Eversource's merger with Aquarion Water Company
In June 2017, Eversource Energy announced that it had reached an agreement to acquire Aquarion Water Company for $1.675 billion. This acquisition would combine New England's largest energy company with the region's largest private water company. At the time, Aquarion served nearly 250,000 water and wastewater customers in 72 cities and towns across Connecticut, Massachusetts, and New Hampshire, with more than 300 employees.
The merger was a strategic move by Eversource to expand its business portfolio and add a complementary business line that delivers high-quality water at affordable rates. The acquisition was also expected to provide local ownership and resources for Aquarion, enabling investments and driving long-term success.
However, in late January 2025, Eversource Energy announced its decision to sell Aquarion Water Company to the newly established Aquarion Water Authority (AWA) for approximately $2.4 billion. This sale includes $1.6 billion in cash and $800 million in net debt to be extinguished at closing. The transaction is subject to regulatory approval from the Connecticut Public Utilities Regulatory Authority, the Massachusetts Department of Public Utilities, and the New Hampshire Public Utilities Commission.
The proceeds from the sale will enable Eversource to reduce parent company debt and reinvest in its core electric and natural gas businesses, allowing it to optimize its portfolio and strengthen its balance sheet. Eversource expects to record a loss of approximately $300 million in the fourth quarter of 2024 due to this transaction, including an estimated $140 million in income tax expense.
To answer your other question, no, Eversource is not the only electric company in Connecticut. According to the Public Utilities Regulatory Authority (PURA), Connecticut has two investor-owned electric distribution companies (EDCs): Eversource Energy and The United Illuminating Company (UI).
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Frequently asked questions
No, it is not. Eversource is Connecticut's largest electric utility company, serving over 1.2 million customers in approximately 149 cities and towns. However, The Public Utilities Regulatory Authority (PURA) also lists The United Illuminating Company (UI) as an investor-owned electric distribution company (EDC) in Connecticut.
Eversource is New England's largest energy delivery company, providing electricity, gas, and water services to around 4 million customers in Connecticut, Massachusetts, and New Hampshire.
Eversource Energy is a publicly traded, Fortune 500 energy company. It was formed in 2015 when its predecessor, Northeast Utilities, merged with Boston-based NSTAR and rebranded. Northeast Utilities itself was formed in 1966 through the merger of several companies, including the Connecticut Light and Power Company, which dates back to 1917.
Yes, Eversource is gradually encouraging the use of renewable energy and has started upgrading its infrastructure to accommodate less traditional sources. Some of its initiatives include installing EV chargers, rapid poles, smart switches, and mobile battery systems, as well as lowering costs for solar energy and expanding energy-efficient programs.
