BOSTON, Mass. (February 19, 2026) – To provide customers and other stakeholders with accurate facts regarding Eversource Energy’s 2025 earnings, the energy company released the following statement from Eversource Senior Vice President of Regulatory and Strategic Financial Planning Doug Horton.

“In today’s world, with critical efforts aimed at ensuring that customers have access to safe, reliable and affordable energy services, it is important to provide customers and other stakeholders with facts and context on the costs that they are bearing for the essential services we provide. Given the importance of focusing on affordability for our customers, it is imperative to correct misleading or inaccurate information in the public sphere. Stoking anger with misinformation will not lead to constructive discourse – and while convenient for some – we have a job to do every day for customers. Our core obligation is to make sure customers get the best service possible from our 11,000 employees across three states and at the best possible cost. To provide our customers with that service, we need to invest in our distribution systems, which require sound financial results. Our systems served customers well throughout one of the coldest winters in recent memory, keeping our electric and natural gas systems running seamlessly for customers even during the extreme conditions. Our 2025 financial results made this possible.

Reports that Eversource Energy ‘doubled its profits’ from 2024 to 2025 are incorrect. Our reported consolidated earnings of $1.69 billion follow from approximately $46 billion of investment in utility property, plant and equipment that is owned and operated by our operating affiliates across Massachusetts, Connecticut and New Hampshire. These are the pipes, wires, poles, and people that are exactly what is needed to support energy and water infrastructure every day to serve customers – and ultimately represent less than half of customers’ total bills – going toward the resilient infrastructure we build to withstand heat waves and the extreme cold.

Critically, 2025 is the first full year since 2022 that Eversource did not endure a major loss on offshore wind or the sale of its water assets. This means that 2025 earnings are not the result of a broad increase in customer bills, as some are claiming. Instead, 2025 financial results are not reduced by significant one-time losses that occurred in prior years, lowering earnings in the past. The year-over-year increase in company earnings shown in the chart below highlights the absence of those large one-time losses that affected results in 2024, and 2025 is simply a course correction after a few years of large business losses. Out of the $822 million in significant losses that are absent in 2025, a majority – $524 million – was a loss arising from the sale of our offshore wind investments. These investments were made to help the New England states achieve their decarbonization goals. While we were eager to do our part, we ultimately lost money on that endeavor. That’s not “corporate greed” – it’s commitment to cause. Additionally, no Eversource operating company is over-earning what is authorized by state and federal regulators. Even if that were the case, anything extra would be returned to customers.

The investor-owned utility model requires utilities to provide safe and reliable service to customers, while attracting necessary investment from the private sector to pay for those services. Earnings on investment are necessary to provide a return on that investment for the benefit of customers. As we complete infrastructure investments to modernize our systems and support safety and reliability across the three states we serve, the investment base grows each year and as would be expected, so does the return on that investment – this is to be expected and is a necessary part of our business to serve customers, as we have explained in letters we are submitting today to our regulators across Massachusetts, Connecticut and New Hampshire. Importantly, Eversource typically reinvests up to 40% of its distribution system earnings back into the company as a source of funding for future capital upgrades.

Our hope is that this information will lead to a commitment from all of our stakeholders to focus on the facts about our company and business model – as no one gains from the proliferation of false information.”

Year-over-year Earnings Snapshot

Additional Background on Eversource Gas of Massachusetts

In Massachusetts, a portion of the change reflected in 2025 earnings is associated with the state-approved 2020 rate plan governing Eversource Gas of Massachusetts (EGMA), following the acquisition of the former Columbia Gas system after the tragic 2018 gas explosions in the Merrimack Valley. Between 2018 and 2023, significant investments were made to modernize that system and address critical safety and reliability needs. Under the terms of the rate plan approved by the Massachusetts Department of Public Utilities (DPU), Eversource was authorized to begin recovering those past investments, with a portion taking effect in late 2024 and the full effect reflected in 2025. Importantly, those costs are spread over decades to mitigate customer impact, and the plan includes customer protections such as an earnings-sharing mechanism and a seven-year restriction on filing a full base-rate case until 2028. Prior to this adjustment, the system had been substantially under-earning relative to its authorized return.

Commitment to Collaboration

Eversource welcomes the opportunity for members of the media and policymakers to tour its facilities and meet with its subject matter experts so the company can provide better understanding of its daily operations, answer questions and offer important context on issues relating to its business.

Eversource (NYSE: ES), celebrated as a national leader for its commitment to sustainability and corporate citizenship, is named among America’s Most Responsible Companies by Newsweek for 2026 and recognized as the #1 utility on USA Today’s list of America’s Climate Leaders for 2025. Eversource transmits and delivers electricity and natural gas and supplies water to 2.3 million customers throughout Massachusetts, including approximately 1.62 million electric customers in 159 communities, 641,000 gas customers in 125 communities, and 12,000 water customers in five communities. Eversource harnesses the commitment of more than 10,500 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service.  The #1 Energy Efficiency Provider in the Nation, the company is empowering a clean energy future in the Northeast, with nationally recognized energy efficiency solutions and successful programs to integrate new clean energy resources like a first-in-the-nation networked geothermal pilot project, solar, offshore wind, electric vehicles and battery storage, into the electric system. For more information, please visit eversource.com, and follow us on X, Facebook, Instagram, and LinkedIn. For more information on our water services, visit aquarionwater.com.