Higher Q3 Earnings For Northeast Reflect NSTAR Merger
Northeast Utilities, New England's largest utility company, reported increased earnings in its third quarter following the merger between Northeast and NSTAR, which closed in April.
The Hartford-based company, which provides gas and electric service to 3.5 million customers, including those in Central Massachusetts, generated revenue of $207 million in the quarter ended Sept. 30, according to the company's earnings report, more than double the $90 million the company generated in the same period last year before Boston-based NSTAR became part of Northeast.
Year to date, earnings have eclipsed those of 2011 by nearly $70 million, as the company generated $351 million in the nine months ended Sept. 30, compared to $281 million in 2011. While demand for electricity generation and transmission increased year over year and for the quarter, natural gas earnings declined quarterly by $1.4 million and $10.3 million for the year. The company cited mild temperatures last winter that impacted results for the first quarter of 2012.
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