Eversource Energy (NYSE: ES) is a major public utility holding company primarily engaged in the energy delivery business across New England. The company operates through four main reportable segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. Its core business model relies on regulated utility operations, where it earns a return on equity through rates set by state and federal regulatory commissions in exchange for infrastructure investments. Electric distribution and transmission constitute the vast majority of its revenue and earnings (over 80%), serving millions of residential, commercial, and industrial customers in Connecticut, Massachusetts, and New Hampshire. The natural gas distribution segment serves customers in Massachusetts and Connecticut, while the water distribution segment (Aquarion Water Company) operates across the three states. Recently, Eversource divested its 50% ownership interests in offshore wind projects (such as Revolution Wind and South Fork Wind) to de-risk its portfolio and refocus entirely on its regulated transmission and distribution businesses. The company's competitive position is secured by its status as a regulated monopoly in its designated service territories, making it the largest utility provider in the region.
