our morning, update, plan of guidance, Aquarion along earnings our will good XXXX I and regulatory sale, X-year our updated share provide expectation. everyone. plan review with This X-year investment EPS morning, details earnings financing long-term and discuss capital Joe, you, growth Thank and the results the the XXXX a
on sale of with details me Let the the of a Aquarion. discussion of start XX Slide pending
have mentioned, Joe an sell agreement very asset. valuable signed to pleased this to are we As
to aggregate the the and is base a This thereby XXx value enable further the approximately that net debt in the approximately represents press company will debt earnings. strengthen us As of rate enterprise billion at X.Xx valuation end aggregate $X.X is the sale cash includes approximately million closing. the approximately release parent $X.X reduce sheet. of we This $XXX expected we stated strong and billion. multiple of extinguish balance The value and in at January, will XXXX of XXXX
We expect XXXX. a states closing change late days next in to anticipate all of within XX control to the and XX in file X applications
as shown Now I'll results XX. review XXXX on the Slide
expected earnings per investment third of our of pending sales Our share loss XXXX net wind results related per loss share Aquarion. after-tax aggregate the as in include offshore of with the in the XXXX XXXX. an for on GAAP of $X.XX of a the $X.XX share closing compared well GAAP loss per Results to $X.XX for as quarter recognized sale
XXXX $X.XX As loss an reminder, that after-tax losses to results a included primarily wind for on aggregate related of investments. per offshore share
our per X.X%. losses, per non-GAAP growth XXXX, $X.XX $X.XX as after-tax rate XXXX to those in share compared a were Excluding of share year-over-year earnings in
As a range share. reminder, our per $X.XX was to in revised XXXX of guidance the for earnings $X.XX
year Breaking by down in earned as system reliability. XXXX. the transmission compared in earnings share per XXXX share our address to per were driven $X.XX in segments, $X.XX The XXXX service full electric earnings continued by investments of electric transmission with results improved
offset Hampshire electric earnings higher share expense, distribution revenues per Electric for increased were per rate results as higher increases taxes. share property partially Eversources, The XXXX. to Our earnings New base $X.XX $X.XX and compared primarily in depreciation businesses of were distribution O&M due interest from Massachusetts 'XX in by and with
increases property Gas due expenses. natural were partially aging results earned XXXX gas share Massachusetts $X.XX share offset to higher investments $X.XX Eversource's compared system per natural replace Distribution to in XXXX. rate infrastructure gas interest as higher and depreciation, at in segment base The businesses per continued and in by distribution Improved business to our tax
of earnings last in revenues. the authorized on the The per lower $X.XX lower sale of in Aquarion decision, primarily rate pending loss compared final per of earned the water $X.XX depreciation due was expense offset by increase result Excluding year. per a partially case distribution share segment share, as to XXXX $X.XX share a with
for the faced. a a absence XXXX. Eversource XXXX lower results losses growth for non-GAAP of compared year a as were of due 'XX prior higher year the to energy in net partially interest of in sale customers. up parent $X.XX year XXXX, GAAP and of offset non-GAAP transformative we to clean from fund, for losses our We Lower and innovative share per in year headwinds effective the interest as share $X.XX other share rate. benefit were That $X.XX were which GAAP earnings earnings to per us the despite company XXXX. losses share was solutions delivered per very tax compared wraps of and by in Eversource's another per Non-GAAP $X.XX expense in
front. Moving with on another to positive the results. very We year regulatory busy had
Our XXXX on with first increase our regulatory for key of effective approval of million $XX Starting XXXX, of revenue reset highlighted effective an XX. year. with Slide be request received revenue million EGMA, implementing this items are later additional a that X, rate we Massachusetts, increase November will base $XX
a reminder, when a this adjustment key we As XXXX our agreement acquired of was EGMA. component settlement
a base XXXX. in have rate in, We roll second will
NSTAR approval revenues Again, for Gas $XX the effective increase November in effective million Also was PBR PBR X, we revenue under the annual received XXXX, million for NSTAR in Massachusetts the Electric increase approval XXXX. X, of mechanism. adjustment January $XX.X of under annual plan,
New Hampshire. to Turning
to we requested August summer, X, made increase distribution continue million through of review work rate in $XXX where the last XXXX. an rates We filing effective
As million $XX period. rates recovery the increase. Hampshire includes August a the July $XXX over to Hampshire of The rate New case August temporary costs X, of this part for PUC of in of effective XXXX. million approved X-year $XXX million storm million, expected the is request permanent agreement be $XX interim deferred of this increase request rate for settlement effective Also decision included X, is of New rate proceeding, rate on XXXX. a an in A
August to XXXX. a the final reminder, reconciling back a decision also adjustment X, will provide As rate
the Connecticut, critical to continues since rate in revenue previous review reflecting $XXX Gas application recover to million, investments our review and deficiency a cost Yankee In increases of rate move XXXX along.
discovery expected the for final phase May a October. in scheduled are decision with in call of in and the proceeding We hearings a
capital plan. our X-year let Next, me updated discuss
our from in billion for new pending period in needed overlaps As plan. the over increase Please you work electric greater transmission that can our reflects to XXXX on to investments into by XX, those infrastructure is presentation, electric utility $X.X excluded plan distribution this years with Slide of see the driven The primarily and due plan. investments Massachusetts note have our customers serve next we the throughout billion that reflecting higher Aquarion, XXXX, the a capital through visibility sale increase $X.X prior X higher years. investments our
as X-year that our utility from updated Turning to runs plan Slide segment. on X-year XX, capital by infrastructure our which XXXX XXXX investments reflects through shown
clear a approval from X-year As invest regulatory projects reminder, only sight to expect line includes a this runs those period through approximately progress of load plan our we customers billion from provide Over achieved with electric allow state's us and this that we XXXX, have These that perspective. a businesses. on $XX.X safe, growth and to natural service, will and gas objectives. in continue energy to meet ongoing investments on reliable clean our regulated XXXX
billion the replacement From investments from the resources infrastructure and $X our and increase starting or grid. transmission These over years. standpoint, investments X-year $XX.X harden system during well adding undertaken of events plan to other projects $X.X of billion. plan from Aquarion X a the interconnection energy as XX% increase agent transmission, of time the with innovative to weather segment an nearly include and previous purposes a XXXX reliability substation Excluding plan XXXX includes diversified for to resiliency through both frames, infrastructure projects, infrastructure and next billion is the electrification as extreme of increase
the clean Sector Public including reformed Modernization energy of Plan, plan of which last Department well transmission facilities as the Utilities and enabled siting as year, ESMP. approval efforts of by bill greatly is Electric in or the state's X-year energy This Massachusetts permitting
plan ESMP significant development of transmission engineering period. now includes capital the Our end for substations the substation as future well as towards and ESMP investments forecasted X-year
ESMP the transmission for of back fact, transmission us raise capital more In visibility the to capital forecast. us end gives our allowing
forecast the continue expect trend period. to We beyond this
now utility forecast capital updated with customers. our tier investments resiliency our of over distribution, system billion electric continued and focus $XX on a reliability electric to for Turning infrastructure reflects planned top
will in for for This the meter. participate intelligence energy near usage. system enhancements environment transformation million program investments real-time the an increasingly Our operating and technology distributed Massachusetts. distribution $XXX and These communications application includes will allow customers in planned electric AMI include to enable of at
gas nearly side, future. billion Massachusetts On Across we'll highlighted plan to natural programs to enable to and and our energy cast the the natural bare engage is affordable transition reliability a thoughtfully pipe steel plan of reflects gas replacement investments $X the centered investments clean continue in around safety. Connecticut. by This the an system, states ensure and with iron
our Rounding $X.X and out forecasted our billion, investments and including and investments to customers. work plan, employees serve to capital more enable at in technology cybersecurity to facilities efficiently our AI tools
opportunities about regulated We this Connecticut We in of that EVs include this do and the billion generation, plan range impact provide to Eversource increased forecast have opportunities the positive are for of investment $X and within period. LNG brings excited to could solar customers. can facility $X.X it the usage additional billion see AMI, upgrades. opportunities These our
As materialize. we in we these as opportunities have the our update will plan past,
rate is business an in from impact investments base plan to the XX. results through capital capital the XXXX. customer-focused core Slide included resulting The updated base plan shown growth The from X% on growth rate XXXX in in
Slide our turn Next, earnings XX. guidance to I on XXXX will
$X.XX increased are We system transmission earnings Positive distribution outcomes include electric to and range in rate Higher effective higher dilution gas share this for projecting expenses of New taxes costs investment offset from and O&M by address XXXX electric property XXXX. impact share demand, per Hampshire rate depreciation increased to case year strong an and the and for investment. interest Connecticut and in increases, tax positive $X.XX reducing level. rate. to drivers partially are of higher from drivers and a resiliency be on expected focus These
to on laser sheet. improving our focused balance we stated, Joe continue As be
As all XXXX you executed our XXXX. can see on we commitments on Slide for and cash flow XX, enhancing
operations flows expect driven deferrals and timely regulatory see significant of result, I distribution primarily As previously in cash in increases as a from that of a by XXXX our recovery rate to XXXX to discussed. we XX% improvement compared nearly
differently, minimal our that equity cash with With level billion XXXX $X through of by cost forecast $X.X million announcement execution along are XXXX in the the payments equity driven equity our $XXX sale billion. of to of the expect of of commitments, expected equity proceeds of this issue recent includes in including our $X.X the needs issuance forecast cash the Aquarion, needs our enhancement this through equity million to our tax $X.X be plan, sale of we the updated majority from expected incremental is equity previous billion from said given storm solid projection flow $XXX year, a recoveries, we and towards previous issued higher capital the back for period. on This or our approximately remaining the on XXXX XXXX, equity the plan forecasted later This billion of our left guidance. Aquarion half X-year of growth our
XX% period. debt threshold the supports well This FFO Moody's target forecast our financing of plan above ratio to during the downgrade
generated in and plan no issuances sales. paying assumes proceeds expected XXXX this and from million Additionally, company the off the of in maturities holding cash internally $XXX XXXX incremental financing with debt assumes Aquarion
Turning to Slide XX.
to share. growth share X% of per per XXXX earnings long-term of X-year recurring based X% non-GAAP be $X.XX the in range projecting of are the rate EPS We off to
to a Given expect in the be we results bit the muted. XXXX, headwinds
as which significant to plan, as infrastructure However, execute system as discipline. constructive through we profile recovery transmission with recover continue of in and are storm mechanisms cost the well throughout on will to distribution our includes continued growth able investments the growth progress rate that deferred strategic EPS costs strengthen our and we O&M
Before closing I'll back to remarks. his the turn we Joe questions, get to over call your for
