Joseph Nolan on rate design
From Eversource Energy ($ES) Q3 2025 Earnings Call · · Castify Earnings Call
“We are working closely with our regulators to offer our customers various options to address affordability as shown on slide seven. We collaborate with large and small customers to design rate structures that incent efficiency. For example, earlier this year, we worked constructively with our regulators in Massachusetts to offer a 10% discount to our gas customers during the winter peak months and recover that in the summer months to smooth the impact of high bills.”
On , Joseph Nolan, President, CEO & Chairman at Eversource Energy, spoke about rate design during Eversource Energy ($ES) Q3 2025 Earnings Call on Castify Earnings Call.
About Joseph Nolan
Joseph Nolan, president, CEO and chairman of Eversource Energy, reported on the company's 2025 financial results during a February 2026 earnings call, stating that the company delivered non-GAAP earnings per share of $4.76 and paid dividends of $3.01 per share, a 5.2% increase. He said strengthening the balance sheet was a top priority and that the company improved its FFO-to-debt ratio by more than 400 basis points over the 12 months ending September 30. Nolan also outlined a new five-year capital investment plan of $26.5 billion, a $2.3 billion increase from the prior plan, with the majority directed at electric and natural gas distribution infrastructure. Nolan noted that in Massachusetts, the company worked with Governor Healey's administration to implement a rate relief plan providing customer discounts in February and March during peak winter usage. He described the plan as a constructive step for affordability. Nolan said the company is reviewing financing alternatives, including junior subordinated notes, minority interest sales, or similar capital-structured transactions, and expects a decision from the Federal Energy Regulatory Commission regarding storm prudency that could allow securitization proceeds of up to $1.5 billion. He stated that the combination of strategic execution and operational excellence positions Eversource to achieve earnings growth toward the upper half of its 5 to 7% long-term EPS range by 2028.