first business quarter the partnership year, the with strong on per first our very wind $X.XX earnings developments regulatory compared XXXX. Starting recent three XXXX each facilities. quarter $X.XX transmission for Thank earnings improved a with dockets concerning $XXX had in our utility investment and level first $X.XX with forecast Today first of full of you, of Earnings the is billion financial Distribution of largest last the share Gas share, our $X of year. XXXX, earning improvement results, cover Distribution. of $X.XX quarter we increased totaled to segments, to year. per we Jeff. with Electric key quarter an start expenditures update the core in in Natural will and the Transmission of core quarter continue The compared utility I Transmission, slide in nearly were Electric our offshore in to million the two, Orsted. transmission transmission In XXXX investments capital and due
is year. Electric NSTAR per quarter at the that of earned increase Light Distribution the lower and outcome & ‘XX, of recent the Most $X.XX in share attributable first $X.XX to costs of rate segment O&M to last Our compared case Power Electric. Connecticut
recover increased In were make system base benefits $X.X at costs to CL&P PSNH million rate related make offset increase, slightly addition to related levels resilient was the Those and generation to XXXX. of investment our more earnings the in trackers. through by to allowed of to absence
As you XXXX. units these in we know divested
increase quarter of Gas we and have like the periods was quarter Natural to of recognized decoupling lower first and under the the per Gas. usage earnings settlement use to lower Yankee the that outcome the during with Our The third second of of and segment in last will the in that the revenue of important achieved rate year. implementation of targets the first at ‘XX, quarter primarily monthly in of earned Gas share $X.XX note year $X.XX peak like revenue case we It’s Yankee decoupling, XXXX. revenues first periods XXXX quarters compared related higher we the
to our to in pipe. from investments our unprotected related Gas Natural replace cast benefited tract steel decoupling, Aside from the implementation program iron expanding of segment
and this from across million We total in $XXX XXXX, last to investments million both and those is continue $XXX up approximately expect Connecticut to year. Massachusetts
XX% results million million XXXX, for quarter only quarter lost interest the our resulting segment from and I related Parent noticed of should for remain statement for we to with first add last Other collections rate $X XXXX. to were returning some expense, segment accounted of expectations This a income effective was first assuming the that you higher While the XX% how our primarily in $X.X had and on and that compared of deferred excess for tax for interest loss difference quarter our the are and ‘XX, year forecast tax tax year. debt our refinancing was unchanged. it’s is -- corporate to results level consistent compared to higher years, in may at of that due rate likely the rates to income the we long-term at the XX%, to of higher the The of rates rates. to have short-term customers
on our net You lower have will should that rate not expect income. improvement effective the any tax
performance to to operating our on safety earnings strong to results, focus on -- key intense from Moving continues discussion results. show continued
commonly safety is is among record known with industry the in Our less the than DART rate, as X.X. to-date best our
Our months interruptions Electric months. reliability between continues nearly to XX trend very at strong with
perfect target We are emergencies of gas our in responding nearly within timeframes. natural goal to
of and targets. We sustainability doing targets are better our terms our also than own diversity in internal
with multiyear our would future. provide activity, for businesses implemented to recalled distribution rate Turning into that for visibility have you regulatory recently that largest the probably those of us significant many plans three distribution years jurisdictions recent
and tier last total electric to increase the effective we we service XX% has of since is file while water. decade assets been for flat East. billion expect been past about a to see base Hingham, keeping but Massachusetts last about result a ago plant. rate Company only can expected Aquarion’s X, Hampshire $XX Water Aquarion’s XX% April part while XXXX electric largest you neighboring $XX to permanent request flat of system in last of to the slide medium-sized The over of Improved on the Hampshire. Service temporary purchase above has From million. years, expense million, rates. additional three, remained the Public Xst. at It’s costs Hingham Public North by of have in Aquarion an electricity, On represents of a investments About utilities in driven the to a than operating increase filed million price our more more month now are rates base of great of the essentially decade, upper customers. over in distribution July the this will New since Connecticut. those increase The towns Hampshire truly reliability XXnd, July temporary to New rates than our Service rates on approximately and adjustment. and then week implement The sought operating New Hingham total Later is served town our request As purchase XX distribution would improved $XXX an Massachusetts X% and voted Cohasset. $X the and Hull maintenance that town move assets, of of Aquarion be the I by operations among
aware are underway vote, Aquarion. disappointed by acquired we were we Hingham that when with effort While this the successfully of was outcome the we
it business in We additional transaction year the for the that before hopes future. the to has see indicated continue end. to opportunities close water town The growth
transition. to will continue We an with for work orderly the town
confident the any of use will the purchase price not the proceeds, of are sale we and the result Aquarion. for process, final determine that we part loss but As will in
$XXX off Turning in large a used were issued part $XXX maturing maturity all-in February. CL&P pay in an million to bonds of to financing, coupon in rate million, of at XXXX, X.XX%, proceeds X.X%
four reinvestment, call we have treasury stock our plans. and In terms year, of XXXk dividend, expect for April, shares months through that five April. again about million equity, through end purchase match approximately years, Through noted I $XXX the our issue this plans to through year XXX,XXX those in next shares we issued annually employee of that’s
that we business in additional This offshore on to plan with billion rate. program core our our call, and new capital regulated partnership We expected fund equity our to also X% noted $XX through to issue Orsted. of growth our incorporated wind is equity billion XXXX X% nearly existing EPS an $X
the you New in Slide I period. stand offshore over on forecast we for where said be equity to -- New York. As provides update England contracting we opportunistic and wind in about an issuances our the February, with with four issuance expect
Connecticut, a and filed to of total additional to In more As to Public of you can a new XXX-megawatt in by megawatts. a XXX issue for last expect see, X,XXX initial Revolution wind RFP Wind Department contract -- year whether megawatts XXX authorized be Massachusetts megawatt to quarter. contract XXX-megawatt megawatts with an to also statute is evaluating double that The approved PURA required X,XXX second we the midyear. Utilities offshore by procurement is
RFPs. considering of the Island, in wind is Connecticut, Wind XXX-megawatt approval to local X,XXX contract megawatts the to in underway Rhode Additionally process legislature another In The session is add Revolution distribution in the Rhode Island for Connecticut proposals megawatts PUC ends company. X,XXX and between early June. offshore
New a the New and RFP were submitted contract In in to that. wind We into results continue the we York, of XXX of York June. least XXth bids expect at await a on February decision for megawatts offshore
be projects benefits development to all and positive bring region. that about zero very to We these wind, economic our the offshore continue of will carbon
XXXX growth, rate appreciably offshore earnings a projects and wind enter source thus growth earnings the to the contracted in higher of as X% of far result. to these our late to turbines a service enter XXXX. X% and When units we expect also provide service We very flow significant cash as expect move
to will turn call Jeff I back the for Now Q&A.
