August 24, 2016 1:27 AM 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, 2015, it offered furnished retail franchise electric services to approximately 1.2 million customers in 149 cities and towns in Connecticut covering an area of 4,400 square miles. 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

1,037 Employees

Phone:

860-665-5000

Key Executives for The Connecticut Light and Power Company

Chief Executive Officer, President and Director
Age: 56
Chief Financial Officer, Senior Vice President, Treasurer and Director
Age: 60
Senior Vice President, General Counsel, Director, Senior Vice President of Northeast Utilities, General Counsel of Northeast Utilities and Director of Northeast Utilities Foundation
Age: 58
Chief Accounting Officer, Vice President and Controller
Age: 46
Senior Vice President of Emergency Preparedness
Compensation as of Fiscal Year 2016.

The Connecticut Light and Power Company Key Developments

The Connecticut Light and Power Company Elects James J. Judge as Chairman and Director and Philip J. Lembo as Senior Vice President, Chief Financial Officer and Treasurer and Director

On May 4, 2016, the Board of Directors of The Connecticut Light and Power Company elected Mr. James J. Judge as Chairman and a Director and Mr. Philip J. Lembo as Senior Vice President, Chief Financial Officer and Treasurer, and a Director. Mr. Lembo, 60, has served as the Vice President and Treasurer of Eversource Energy, The Connecticut Light and Power Company, NSTAR Electric Company, NSTAR Gas Company, Public Service Company of New Hampshire, Western Massachusetts Electric Company, Yankee Gas Services Company and Eversource Energy Service Company since April 10, 2012, and of NSTAR Electric Company and NSTAR Gas Company since March 26, 2009.

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.

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