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November 25, 2015 12:48 PM ET

Electric Utilities

Company Overview of NSTAR Electric Company

Company Overview

NSTAR Electric Company, a regulated electric utility company, engages in the purchase, transmission, delivery, and sale of electricity to residential, commercial and industrial customers in Massachusetts. As of December 31, 2014, the company served approximately 1.2 million customers in Boston, as well as 80 surrounding cities and towns in Massachusetts, including Cape Cod and Martha’s Vineyard. NSTAR Electric Company, through its subsidiary, Harbor Electric Energy Company, provides retail distribution services and ongoing support to the Massachusetts Water Resources Authority. The company is based in Boston, Massachusetts. NSTAR Electric Company is a subsidiary of Eversource Energy.

800 Boylston Street

Boston, MA 02199

United States



Key Executives for NSTAR Electric Company

Chief Executive Officer and Director
Age: 55
President, Chief Operating Officer and Director
Chief Financial Officer, Executive Vice President and Director
Age: 59
Chairman, Chairman of Risk Committee, Chief Executive Officer of Northeast Utilities and President of Northeast Utilities
Age: 68
Chief Accounting Officer, Vice President and Controller
Age: 45
Compensation as of Fiscal Year 2015.

NSTAR Electric 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.

NSTAR Electric Company Adopts Amended and Restated Bylaws

On September 29, 2014, NSTAR Electric Company a wholly owned subsidiary of Northeast Utilities (NU) 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 and Clerk; 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 and Clerk to provide notice at least seven days before the meeting to each stockholder entitled to vote; Included a provision that Bylaws may be altered, amended or repealed by a majority vote of stockholders or by the Board, if the Articles of Organization so provide, except with respect to any provision which by law, the Articles of Organization 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.

NSTAR Electric Co. Wins $2,200,000.00 Federal Contract

U.S. Army Corps of Engineers (Department of the Army), USACE District, New England, has awarded a $2,200,000.00 federal contract to NSTAR Electric Co. on August 15, 2014 for 'NSTAR Award Achusnet Power River Crossing, New Bedford, MA'.

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