August 26, 2016 4:21 PM ET

Electric Utilities

Company Overview of Western Massachusetts Electric Company

Company Overview

Western Massachusetts Electric Company, a regulated electric utility, purchases, delivers, and sells electricity to residential, commercial, and industrial customers. The company serves approximately 209,000 customers in 59 cities and towns in the western region of Massachusetts covering an area of approximately 1,500 square miles. It also operates solar generation facilities with a capacity of 8 megawatts in Pittsfield, Springfield, and East Springfield in Massachusetts. The company was founded in 1886 and is based in Springfield, Massachusetts. Western Massachusetts Electric Company operates as a subsidiary of Eversource Energy.

300 Cadwell Drive

Springfield, MA 01104

United States

Founded in 1886

291 Employees

Phone:

413-785-5871

Key Executives for Western Massachusetts Electric Company

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

Western Massachusetts Electric Company Key Developments

Western Massachusetts Electric 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 Western Massachusetts Electric 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.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
June 23, 2016
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