ES · 10-Q · 2026Q3 · Full report
Operating Cash Flow Trends
EVERSOURCE ENERGY · 2026-11-06 · Importance 40 · Surprise 56 · From source text
CL&P operating cash flow fell to $673.0 million for the nine months ended September 30, 2026, from $1.13 billion in 2025, primarily because regulatory recoveries declined $334.1 million under the non-bypassable FMCC mechanism and $180.8 million under the SBC mechanism. CL&P cash flow was also reduced by $108.2 million of additional income tax payments year over year. NSTAR Electric operating cash flow rose to $1.09 billion from $821.3 million, including a $111.4 million benefit from receiving income tax refunds in 2026 rather than making tax payments in 2025. PSNH operating cash flow increased to $375.8 million from $358.3 million, primarily reflecting $31.0 million lower storm-cost vendor payments.
Key facts
- Eversource's operating cash flow was $3.07 billion in the first nine months of 2026, compared with $3.20 billion in the first nine months of 2025.
- Lower regulatory collections reduced operating cash flow by $334.1 million for CL&P's non-bypassable FMCC mechanism and $180.8 million for CL&P's SBC mechanism.
- Operating cash flow was unfavorably affected by a $54.2 million increase in cash payments to vendors for storm costs.
- CL&P cash flows provided by operating activities were $673.0 million for the nine months ended September 30, 2026, compared with $1.13 billion in the same 2025 period.
- CL&P’s operating cash flows were reduced by $334.1 million in non-bypassable FMCC regulatory recoveries and $180.8 million in SBC regulatory recoveries due to collection timing.
- NSTAR Electric cash flows provided by operating activities were $1.09 billion for the nine months ended September 30, 2026, compared with $821.3 million in the same 2025 period.
- PSNH cash flows provided by operating activities were $375.8 million for the nine months ended September 30, 2026, compared with $358.3 million in the same 2025 period.
- CL&P’s 2026 income tax payments were $108.2 million higher than in 2025.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | 0.0% | Eversource's operating cash flow was $3.07 billion in the first nine months of 2026, compared with $3.20 billion in the first nine months… |