Company Overview
About Eversource Energy
Eversource Energy is a Springfield, Massachusetts-based regulated electric and natural gas utility — publicly traded on the New York Stock Exchange (NYSE: ES) as an S&P 500 Utilities component — serving approximately 4.4 million customers across Connecticut, Massachusetts, and New Hampshire through electric distribution, transmission, and natural gas distribution subsidiaries including Connecticut Light and Power (CL&P), NSTAR Electric (Massachusetts), Public Service of New Hampshire (PSNH), and Yankee Gas through approximately 9,000 employees. In fiscal year 2024, Eversource reported revenues of approximately $11.7 billion, generating regulated earnings while executing a major strategic pivot: the sale of Eversource's offshore wind equity interests — South Fork Wind (132 MW, operational), Revolution Wind (704 MW, construction), and Sunrise Wind (924 MW, development) — to Global Infrastructure Partners for $1.1 billion, exiting the offshore wind development business entirely to refocus capital on the core New England regulated utility operations. CEO Joe Nolan's strategy of offshore wind exit reflects the economics reality of inflation-driven construction cost increases that made Revolution Wind and Sunrise Wind uneconomic at previously contracted power purchase agreement prices — fixed-price PPAs signed at $80-100/MWh before the 2022 inflation surge became deeply underwater when offshore wind construction costs escalated to $150-200+/MWh equivalent. The offshore wind exit releases $1.5+ billion in committed capital and eliminates the development risk that had pressured Eversource's investment-grade credit ratings.
Business Model & Competitive Advantage
Eversource's New England regulated utility model creates value through the predictable allowed return on equity framework that the Massachusetts, Connecticut, and New Hampshire utility commissions grant on invested rate base: as Eversource invests in underground electric distribution cable replacements (New England's aging overhead distribution infrastructure), smart grid technology (automated switching, fault detection), and electric vehicle charging infrastructure programs, regulators approve the capital additions to rate base and allow recovery through customer rates at approximately 9-10% allowed ROE. The transmission segment (high-voltage lines connecting the ISO-New England power grid) earns FERC-regulated transmission returns (approximately 10.57% authorized ROE) on Eversource's $8+ billion transmission rate base — providing higher returns than distribution and insulating earnings from state-level rate case risk. New England's energy transition (Massachusetts Clean Energy Standard, Connecticut Comprehensive Energy Strategy, New Hampshire renewable portfolio standard) mandates increasing renewable electricity procurement and electrification investments that translate directly into Eversource distribution and transmission capital programs.
Competitive Landscape 2025–2026
In 2025, Eversource competes in New England electric and gas utility service against Avangrid (NYSE: AGR, Central Maine Power and UI Connecticut — subsidiary of Iberdrola), National Grid (regulated utilities in Massachusetts and New York), and NextEra Energy's New England assets for New England regulatory approvals, large commercial customer energy services, and electric vehicle infrastructure program funding. The offshore wind exit transaction improves Eversource's balance sheet and reduces earnings volatility — analysts expected the refocused regulated utility strategy to restore Eversource's dividend coverage ratio and credit metrics to investment-grade targets after the offshore wind impairments reduced 2023 reported earnings. The Massachusetts electrification mandate (HVAC heat pump programs, EV charging infrastructure build-out) requires Eversource distribution system upgrades (transformer replacements, service upgrade programs for residential EV charger and heat pump load) that qualify as rate-base capital investment earning regulated returns. The 2025 strategy focuses on regulated capital investment execution (distribution and transmission rate base growth), storm hardening programs in New England coastal areas, and clean energy transition infrastructure as the company repositions as a pure-play New England regulated utility.
The Eversource Energy Story
Founders
Company Timeline
Major milestones in Eversource Energy's journey
Leadership Team
Meet the leaders behind Eversource Energy
Joseph R. Nolan Jr.
Joe Nolan has served as President and CEO of Eversource Energy since 2021 and became Chairman in January 2023. He leads the company's strategic direction and oversees all operations across Connecticut, Massachusetts, and New Hampshire.
Werner Schweiger
Werner Schweiger oversees all operational aspects of Eversource's energy delivery systems, ensuring reliability and safety across the company's electric, gas, and water infrastructure.
Philip J. Lembo
Philip Lembo leads Eversource's financial strategy, including the company's $24.2 billion capital investment plan and financial reporting to investors and regulators.
Leon J. Olivier
Leon Olivier directs Eversource's long-term energy strategy and business development initiatives, including clean energy transitions and infrastructure modernization.
Susan Sgroi
Susan Sgroi has led HR and IT functions since January 2024, overseeing talent management, organizational culture, and technology infrastructure for over 10,000 employees.
Gregory B. Butler
Gregory Butler serves as chief legal officer, managing regulatory compliance, litigation, and corporate governance across Eversource's multi-state operations.
Craig A. Hallstrom
Craig Hallstrom oversees electric operations across two of Eversource's largest service territories, managing distribution and transmission infrastructure.
Penni McLean-Conner
Penni McLean-Conner leads customer experience initiatives, ensuring superior service delivery and satisfaction for 4.6 million customers across the region.
James W. Hunt
James Hunt manages regulatory relationships with state utility commissions and leads corporate communications and public affairs strategies.
Katherine Kountze
Katherine Kountze oversees information technology strategy and operations, including the rollout of smart meter technology across Massachusetts.
Open Positions
Reddit Discussions
Key Differentiators
Market Leader
Eversource Energy is recognized as a market leader in the Energy & Utilities sector, demonstrating strong industry presence and customer trust.
Enterprise Scale
With $11700M in revenue, Eversource Energy operates at enterprise scale with proven market validation.
Massive User Base
Trusted by 4.4M worldwide, demonstrating broad market appeal and proven reliability.
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