service high earnings provide achieved expectations. Water. outcomes important activities Thank I’ll had and our key Connecticut continued update of on a some recent some with very and financing right to line in dockets, with first strong you, several reliability customers. an related Jeff, We results, welcome, We to financial quarter and everybody. Today, our XXXX start our cover regulatory regulatory to items; activity levels to XXXX
growth of earnings higher our in $X.XX share $X.XX news investment in to Slide start was The I’ll The totaled share X% increase compared to reliability for continue performance per for the in to earnings on segment with from results in share share to distribution XXXX. $X.XX to to $X.XX release, $X.XX the our $X.XX and due compared per to per to fossil lower The customers. earnings, O&M sale 'XX. property improved electric where and driver first expense. noted $X.XX per earnings transmission quarter XXXX and depreciation, resulting XXXX and increase was As and transmission the was $X.XX last X. between year. in X%. earnings continued The long-term we due Earnings improve maintain generation of earned we decrease primarily system tax compared we January, in our earnings generation facilities were quarter the forecast primary
activity March As XX-day as most of of Massachusetts of significant had an you storm a over this of know, result a year, particularly in Nor’easters very significant, we hit us Eastern that span. series in
in these the of for I deferred for million, restoration efforts The our our restoration regulatory costs, employees quite to recovery. was future very of tremendous their difficult our Overall, our positive. restoration First about for vast conditions. their customers and response work work and mechanisms customers was patience to $XXX majority the all, want from thank regulators work during under
raised deferred. were costs our $X.XX. by not However, the costs And in some about quarter, O&M storm-related
O&M $X.XX earned primarily compared per segment year. with offset by due This last increase higher share $X.XX costs. Our was higher was partially natural sales. gas to The
both last down Generally, is Aquarion’s At year X.X about the parent, at and the we Eversource earned segment half the quarter. first are results quarter. water just I primarily regulators. this could stand way the across of with the Slide is occur state on guess were the a Energy customer characterize due regulated this expense. million third new in to tax level. our implementing about where best slightly lightest. it’s in progress when work winter compared companies, I the with of a typical the in for reform higher in our earnings These we usage provides you with was at X Our Aquarion status and interest federal various
the next and a plans CL&P both that the make ago It to very settlement, three years, in resources times parties. the to truly good by year. provides Slide our provide benefits settlement the throughout while taxes to with along we the service three-year for us in various XX Regulatory few developing providing We customers Public the case and this week. rate be currently need lower We’re just all implemented over passing was general at just approved the a filings time considered Authority certainty X, will great at the for of able to the we with first required to the years. continue the profile rate On weeks achieve company same to customers, Connecticut and Utilities rate customers
the of the nor maintain Turning moves facilities news case FERC XX.XX% and administrative a good New that that the to transmission to region’s when existing the judge XX.XX%. ROE full the law March of were neither now cap current unreasonable. some incentive On XXth, owners The commission. received FERC of Slide X. He ROEs ruled unjust the transmission England’s recommended electric
securitization earlier, process. million units the of The the As part PSNH our fossil I nearly Earlier is the this debt in transfer. approval FERC pending divestiture license we of as sale the we mentioned sale of week, on January. units XXX hydro of of closed priced
Eversource its divestiture energy debt. an pay which equity capital the PSNH paying maintain component terms year. seeing effective parent, capital to debt turn and down short-term earlier of structure to the will rates the targeted is that PSNH proceeds, this already also benefits in are in is returning of lower customers became With down
it a disclosed in Connecticut XX, accretive created were more our well. On alternative remain not per both Board Water proposal share the Also, acquire accretive we publicly track $XX.XX and shares election one Water. that deals we Connecticut Eversource in cash the confident to are that the briefly disciplined at of as our proposal for Finally, months, first merger first be Connecticut discuss X% Water I important recommending transaction made We’ll in in year turning that and the interest Water this year. to unless in created The pursue to earnings. we will Eversource in only accretive to concerning Slide efforts Connecticut strongly or It’s would XX expect Water merger of is that Eversource in merger a accretive the X, be have growth and on we I’ll October things. delivers X% Connecticut earnings do We initiative reiterate is remain Water to Connecticut to the succeeds. shareholders. benefits shareholders. believe Aquarion regardless value our with few a whether to rate Connecticut that its than deal our that to long-term stakeholders Water that NSTAR,
record is Our base exceeding investment investors. rate builds commitments and and and we’ve transparent long XXXX, which a profile, on community extended our to us track meeting of very earnings the to growth through
nice water terms in very small addition Although our Connecticut a to business. would of overall Water represent relatively Eversource,
XX% combine It geographic to excellent are Connecticut-based would country, one which in part Connecticut family of superior one it be to proposal XX% ranking and XXX,XXX is our Aquarion very Power but fit strategic Connecticut. why only would Our Aquarion, of well company. J.D. customers the Eversource Water’s Aquarion easy with that in why water an England Connecticut. for water very be create customers five long-term New Water of Connecticut places its customers about Aquarion third months, companies, these XXX,XXX the two been positioned largest to water subsidiary, top has clean and other the are of company. meet England. rated notch with the two customer served By the XXX,XXX Connecticut. of communities. together is in work would we it’s in top see the has needs all as customers by water their and a And New in shareholder-owned company companies well-run would regularly bringing its is the satisfaction a
X.XX send takeover. shareholders the the with to board Connecticut surrounding board vote filed the are March Water But San board of asking the on the part have the at by from a agreement to taken Connecticut Connecticut over the other that were Connecticut preliminary side consider this natural be of important should to us surprised not believe On Connecticut. Connecticut customers serve rather XXXX. San and in of Water’s a we of informing process and and Jose team message us. takeover electric, than Water, proposal XX, engaged yet an shareholders when Eversource materials gas XX, Water during management we begin note that We continent the terms time. million proposal Connecticut proposed April early Jose an SEC, announced Water, discussions Water’s the us. that Water Eversource to proposal. already San approve We operator not XXXX the facts a engage Eversource’s attempted with latter water In engage We allowing to Water of Connecticut It’s of in Jose the with to it will against proxy
us management to Lee. shareholders board the team urging Water simply turn just concludes to insist comments, proposal. with Water of discuss to my our Connecticut and We’re members over it that I’ll That meet and Connecticut
