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February 13, 2016 12:56 PM ET

Electric Utilities

Company Overview of The Connecticut Light and Power Company

Company Overview

The Connecticut Light and Power Company, a regulated electric utility, engages in the purchase, delivery, and sale of electricity to residential, commercial, and industrial customers. As of December 31, 2014, it offers furnished retail franchise electric services to approximately 1.2 million customers in 149 cities and towns in Connecticut. The company was founded in 1905 and is based in Berlin, Connecticut. The Connecticut Light and Power Company is a subsidiary of Eversource Energy.

107 Selden Street

Berlin, CT 06037

United States

Founded in 1905

1,548 Employees



Key Executives for The Connecticut Light and Power Company

Chief Executive Officer and Director
Age: 55
President and Chief Operating Officer
Age: 60
Chief Financial Officer, Executive Vice President and Director
Age: 59
Chairman, Chief Executive Officer of Northeast Utilities and President of Northeast Utilities
Age: 68
Senior Vice President, General Counsel, Director, Senior Vice President of Northeast Utilities, General Counsel of Northeast Utilities and Director of Northeast Utilities Foundation
Age: 57
Compensation as of Fiscal Year 2015.

The Connecticut Light and Power Company Key Developments

Eversource Energy, The Connecticut Light and Power Company, Western Massachusetts Electric Company, Public Service Company of New Hampshire, NSTAR Electric Company, Yankee Gas Services Company Amend and Restate $1.45 Billion Senior, Unsecured Revolving Credit Facility

On October 26, 2015, Eversource Energy and its subsidiaries, The Connecticut Light and Power Company (CL&P), NSTAR Gas Company (NSTAR Gas), Public Service Company of New Hampshire (PSNH), Western Massachusetts Electric Company (WMECO) and Yankee Gas Services Company (Yankee Gas) amended and restated their existing $1.45 billion senior, unsecured revolving credit facility with Bank of America, N.A., as Administrative Agent and Swing Line Lender and other lenders (the Eversource Facility), and extended the expiration date to September 4, 2020. The Eversource Facility allows each company to borrow the amounts, subject to the overall cap of $1.45 billion, which remains unchanged: Eversource: $1.45 billion; CL&P: $600 million; each of PSNH and WMECO: $300 million; and each of NSTAR Gas and Yankee Gas: $200 million. Also on October 26, 2015, NSTAR Electric Company (NSTAR Electric), another subsidiary of Eversource, amended and restated its existing $450 million senior, unsecured revolving credit facility with Barclays Bank PLC, as Administrative Agent and Swing Line Lender and other lenders (the NSTAR Electric Facility and, together with the Eversource Facility, the Facilities), and extended the expiration date to September 4, 2020. The principal amount of the NSTAR Electric Facility also remains unchanged. The Facilities will continue to be used for working capital, capital expenditures and repayment of debt, and to backstop the Eversource and NSTAR Electric commercial paper programs.

The Connecticut Light and Power Company to Close Work Centers

The Connecticut Light and Power Company said it would be closing work centers in a number of towns, including Simsbury, and sending workers to other locations across the state. The closures add to the company's growing effort to consolidate its statewide footprint. Just more than a year ago, CL&P closed similar centers in Greenwich, Middletown, New Milford, Oxford, Plainfield, Willimantic and Wilton. The company said it would close its work center in Simsbury, a maintenance center in Glastonbury, a work center in Waterbury and an office in Newington. Altogether, more than 400 employees will eventually be relocated.

Connecticut Light and Power Company Adopts Amended and Restated Bylaws

On September 29, 2014, The Connecticut Light and Power Company adopted amended and restated Bylaws effective as of such date. The Bylaws were amended and restated as part of an initiative across NU subsidiary companies to update and standardize Bylaws, including the following items: Established a consistent Board size of not less than three Directors, with the number fixed by the stockholders or the Board from time-to-time; Established a consistent slate of required Company Officers, which includes a President, a Treasurer and a Secretary; Added a provision that provides increased flexibility with respect to the conduct of regular or special meetings, permitting Directors to participate in such meetings by remote communication while still being considered present in person at the meeting; Amended the notice provision related to an annual or special meeting of stockholders, requiring the Secretary to provide notice at least ten but not more than sixty days before the meeting to each stockholder entitled to vote; Standardized the provisions relating to the indemnification of Directors, Officers and agents and further provide for maximum indemnification protection allowed by law; Included a provision that the Bylaws may be altered, amended or repealed by a majority vote of stockholders or by the Board, except with respect to any provision which by law, the Certificate of Incorporation or the Bylaws requires action by the stockholders; and Made certain other non-substantive and conforming changes to clarify existing provisions and to standardize such provisions across all NU subsidiary companies.

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