your well. electric morning, I'll results on offshore the provide and is on a everyone developments, partnership gas safe I'll review that our and remains I'll quarter. doing wind hope phone an This critical update with Orsted. the natural to all we water bit and are this during pandemic. our Jeff, first little about healthy you our that and regulatory also and you, and efforts and finally, talk healthy the talk of families Thank COVID-XX infrastructure operate about in build and recent investment the
and slide the two, with impact coronavirus. comprehensive start efforts I'll deal significant our of with to the and
and and country of challenging is its Eversource, period, for of England, in critical customers you incredibly say as in to by guess, an we're as and our its it's additional Our know, been impacted and region, nearly midst states Hampshire. half seriously, of two employees and an than cases an are a to confirmed responsibility More New the X,XXX states virus. Connecticut Massachusetts those and the taking understatement provider two XXX,XXX have most I extremely services the across its New
and with our and Eversource of Our work health CDC our priority guidance communities. our daily the provided at local the by is employees, and the We're in start authorities safety activities. our following closely health customers,
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that process year. capital and the of for back now have than very investment safety successfully temperature to had necessary who minimize of our level checking following a been spread early virus work communications initiate potentially enters who were have ability actually, our they to employees to screening and the program while to on talk control in date, other maintained at date, before resulted either We a health -- ill, about positive should feels pace line We've work. clear XXX to XX exposed to XX gas our positive stay a kept very To others. believe their returned isolate and COVID-XX, home, been equipped those clearance. electric achieve service and quarantine home. and impacts at in if any for also we've this quarantine rooms. work employee the minute. COVID-XX, I'll in To period very implementing to We've the or work of We're those employees more also in more positive been our with medical are this has our to has up confirmed anyone high
of but them wet events, power on were changed to we restored during more safely, all significant crews our our from hours. other hit. XX are XX we hours XX, key XXX,XXX customers were able We've practices work three permission-gathering to within customers battered to many There to our Hampshire storm first territory power intense the effectively. our April moved nearly We restore responded Also mid-March states and areas all the after traditional we impacted Nor'easter promptly, where all electronic in the within first with many Above pandemic the an New and able continue successfully. but service others weather deal for yesterday. in program to When we all, Connecticut. XX,XXX programs experienced we annual than losing our plans resulted and virtual held annual have business threat. accomplish execute clearance heavy power, and A meeting snowstorm strategy
the five-year, uncertainty, and follows our three-year, outpaced performance very both XX-year business peers In months the XXX. the As period and in over the of EEI shown total Well on very well. market. index XX% through S&P resonates return our of model this our of business year favorably and returns compares revenue-decoupled. broader total XXXX This strong far that to is three, four slide very first the to our our the
trackers we We have plans largest capital operating our our our pension are tracked under distribution improvement Much is transmission multiyear FERC and recovery rate for and Massachusetts program businesses. distribution of for franchises. three
accounts. or supply approved associated medical Additionally, with we power or mechanisms, under all bad hardship recover financial debt existing
this customers, We unprecedented continue policymakers regulators, and of support strong to face the our from challenge. receive in
will financial programs utilities and XX Last week, expense, crisis debt bad and in costs or result available of that incurred to of assistance. to no which calls directed will are with payment Connecticut to offer have payment working the and capital increase interim already a These customer record fees down the of balances regulators we've receivable detailed the maintain a utilities calculation in be the months asset regulatory Requiring utilities rate Connecticut what orders, Recognizing implementing most track amount, to said a and lost allow to duration incurred its that revenues as waive a calculated in during of COVID-XX interest establish costs and an costs. utilities' been these the payment will utilities Power any doing. monthly it requesting recent to case. possible essentially initial decision issued include costs any accordance
the XXXX, been implement In in see rate New a November, Hampshire, four, delayed. case receive in regulatory case However, rate Xst, provides to time, PUC April in as additional scheduled has you up on dockets. can were there schedule in impacts been late originally final the Hampshire May first on and some We now but decade to permanent slide has executive governance electric our issue until a July Hampshire. general on our rates order a final or New the New in decision order
to back a effect between until July effective and $XX temporary permanent Service remain will As increase the set rates XXXX, July be that of will in the any this rates rate recall, million case that permanent may timeframe. end at the and Hampshire rates New you increase reconciled are implemented difference temporary Public Xst, that
agreed the to delay In the over in the affect case. long-term. we a So, delay one-month NSTAR our earnings will not gas Massachusetts, rate
expected October, was call. opportunity the review shortly on is effective rates Columbia transaction the not with on had for to after many Since of earnings we've Gas decision the X. the at now our of you So announced year-end XXXX, call, end November with it this
of The our five. slide key elements are deal reflected on
The are transaction transaction highly extensive not with are and now is the $X.X as none of the liabilities support billion We'll the it Meramec Gas The assets larger, X times has will debt. customers the Gas the an we of confident part base. Columbia Massachusetts, will close. one We of rate for company's incident assume of local of September a is well-respected any Valley. associated the in believe and owner. Columbia within acquiring billion excellent Massachusetts net tragic assets for pay customers, We received XXXX become the $X.X
be accretive We immediately expect and coming be transaction to over accretive years. to the continue the
transition the to and as, systems complete investments reliable making service. to operating excuse needed as our infrastructure well and to -- integration we our in me, As our at provide Eversource, transition safe
Massachusetts the Public the filed file We to the application with with U.S. Utilities in We expect shortly. March of Department
waiting Department the weeks Hart-Scott-Rodino XX-day Act, a ago. review of under and the period Justice for expired couple
way of of in on at debt timing Over NSTAR equity capital. equivalent debt Eversource Yankee to Eversource initially percentage the gas same new We with and roughly issue company as we expect expect size or that likely precise Gas private the Gas as The issued market a time, debt, whole. that market, most forward. will the go ratio financing equity currently $X.X or to to capitalization we own parent. its and the long-term raise The finance be depend debt and a will ratio the combination on the billion of conditions the
$XXX Gas Columbia Electric. of Eversource to first parent XX-year green at raised $X.X We sold from NSTAR notes of Turning slide the and billion in quarter. approximately of bonds cash we million $XXX six, million at
million $XXX block just in cash, of in forward late out $X.X element million did NSTAR bringing mortgage $XXX we an year's Additionally, last that Gas. the on we closed closing billion first additional today, March, we're and bond at equity today, in deal; offering
million, Now, rates new debt issuance incurred at $XXX bond And will January. the very was in short-term help X.XX% matured Gas NSTAR the that attractive new repay X.XX%. issuance was that versus went
$XX by increased only very the bodes going daily rates short-term well position in XXXX. interest quarter borrowing effectively in their liquidity NSTAR remaining forward. of the which needs first today well cash that the to levels, are is rates and first those continued expense commercial million Our the have of fact below quarter, paper Eversource although average meet market, for debt maturities year we further enhanced the over Electric balance late
track the Our remains program on capital year. for
sophisticated $XXX investment appendix, in the reliability capital we a and period As same to have needs. $XXX nature regulated enhancements first our we serving weather, grid the Regulators place part year, that continued XXXX. with that approximately you because over of requirements our customers' compared throughout to ensure mild investments, and XXXX, to move in for continue of start $X some forward the our the of the with safely and to winter the billion very in we million Due can the system of to very stay-at-home project see recognize need totaling had states. effectively of we large in long-term infrastructure capable strong initiatives three in million have in slide improvements of quarter a increasingly critical In XXXX. a work about will
through XXXX summer. A filed for Massachusetts in will this new three-year plan be grid modernization work XXXX
vehicles. include a designs Proposals Just as initiatives yesterday energy -- July, number storage, on Connecticut in proposals zero-emission regulators in July infrastructure, order an They of requesting modernization. advanced grid to for end Connecticut, program the topics metering due related of by such issued XXst. are and
in modernization in We Connecticut five-year have in forecast, that included included modernization work have grid Massachusetts grid but expenditures our forecast. we not
Columbia and that's per the of results, excluding related So, $X.XX share higher partially was of all of count the that. share the In On first slide In Gas assets the per to income. dilution share through quarter higher of of expense net now acquisition of segment, on $X.XX in for seven. quarter each segments, so turn in Massachusetts. diluted benefits the share $X.XX. let's let's total, to quarter our the XXXX, We earned first go
facilities. electric dilution share quarter with primarily the a natural earnings compared of of were tax per distribution quarter per investment higher per Earnings earnings compared first and XXXX, million distribution The with $X.XX of share $X.XX segment expense. from XXXX distribution first from an quarter higher totaled in reflect rose of in Earnings first expense. higher per the were in share in per transmission of by XXXX. the $X.X the Higher depreciation, in our share revenues, for segment offset first gas and from share, to $X.XX revenues first property XXXX up XXXX. share increase by million $X.XX increased water partially our transmission $X.XX and quarter higher quarter $X.XX were interest The 'XX. partially of offset earnings in the of first to The 'XX. in the is $X.X related primarily depreciation our quarter O&M higher level in business Earnings our per segment in of $X.XX
of compares in per A $X.XX expense from first to the in $X.XX at were part loss and of XXXX, charge, loss quarter acquisition interest was parent revenues exclusive a lower due due the this of mechanisms in in share higher results Eversource to Connecticut. that's 'XX, lower Improved per to and quarter expense. capital-tracking depreciation and first small share of
and based to XXXX, Earnings regulated around and project would our our share middle Slide As earnings continue Columbia the on news business. X, foresee to you we earnings of $X.XX growth per our we of on Massachusetts X% wind our XXXX continue Gas saw X% of range, offshore $X.XX to in release and in incremental through guidance. core to be from long-term to
Revolution March and developments wind have a the February. of Energy offshore in been Ocean project. Management plan, there nine, slide or On XXth, call our COP, the in construction wind filed to Bureau year-end since Turning with operations we few our XXX-megawatt for
project that So, BOEM's review of begun. has
this schedule to later a for have review expect We full that year.
schedule We so on the XXXX mile Fork from by have one of project. for was process was XXX-megawatt not new configuration. its South we yet project The received review a year last one that new back mile on BOEM COP could update the filed nautical in the that but and nautical paused our --
by We expect the midyear. to schedule posted be new
weeks the Commission New the to South XX begin. from judge travel due restrictions another Service administrative state has until the Additionally, COVID-XX pandemic, stemming the overseeing and the can law York Public review meeting of hearings schedule, extended adding Fork near-term
August, to commence the hearings due [intervenor] and [Ph] will are As in of September. at end early be result, a testimony now
these operation end as the items project call will South its As Orsted last on of Fork unlikely the of week, very said by it make that delays a these XXXX. enter will result commercial and
and We continue offshore both may by target our Sunrise BOEM may current in to That this on New on half affect second date timetable onshore have Wind affected -- restrictions of COP filing work. a York's for the be year. with survey
that have for cost late Sunrise expect filing the summer. and more We insight this timing by schedule to into of the
and York. excellent, the likely headwinds, the strongly New over energy New significant the coast of with the coming be convinced clean to years XX,XXX in to wind opportunities these Northeast we Despite needs England supply near-term scheduling that megawatts offshore off remain are built
Our of region. partnership has X,XXX won the offshore across than Orsted wind megawatts contracts more with
continue exhibit and As those will many, RFPs time for issued, financial the any many again are we discipline same years. future will to evaluate opportunities demonstrated and time we've
stimulus significant to view and as economic positive long-term We a unique flow energy attractive opportunity and earnings development benefit. provide while initiatives very and wind cash continue to providing offshore investors a region clean very the for to
EPS the our emphasize expect are we wind that X% earnings to from incremental me to the X% business. CAGR Let that regulated existing on offshore
we singular model we've the team past is a Our the achieved. providing such has regulatory we as focus providing regulated on success that the our of our high who to levels have model million environment uncertain been of and excellent within is decade times, to X This works energy region. operate and execution critical having a business employees our tremendous service emphasize particularly today. are service attractive a policy where This by to safe customers because addressing consistently accomplished imperatives I constructive in of factor our and in reliable want over of customers. X,XXX
behalf I'm grateful of innovation on Eversource successful. early enough, several over upon protect have our and took work communities. months safely our dedication, through and X to well-positioned is blew proud although very our company demonstrated work uncertain, over and have employees, to events passion called for very customers aggressive quickly very proud. they that remains effectively execute actions and continued the they've as the pandemic past few customers, very a of I'm respond our to our as the as pandemic essential been situation be last to we to employees weeks, two very the million three and the significant the wasn't also to if states storm I'm
to I and practical our this of and healthy families essential I at all communities, to again. care spring, forward as the safe Most our and the today seeing our you of safety look we that committed services pandemic out listeners as importantly, wish and side of and their soon back and all of execute customers, remain to the while We our continue employees, expect. customers coming
I'll for Thanks Jeff back to again your turn over Q&A. call the time. for
