Eversource Energy to Discuss Fourth Quarter Results:
Background on why Eversource’s approach is outdated and a bad investment:
One year ago, then-CFO, now-CEO Jim Judge’s presentation (link here ) provided guidance focusing on Transmission growth as the key driver for 2016 and Long Term earnings. (See slides 17,18,21). ‘Northern Pass’ and ‘Greater Boston Projects’ accounted for the majority of the planned transmission growth. Such projects have run into obstacles, including:
- · Technical flaws
- · Extraordinary delays (months turning into years)
- · Permitting issues
- · Deferred in-service dates
- · Failure to negotiate assumed easements
- · Legislation to further regulate the Siting process in Massachusetts
- · Challenges by MA Attorney General to Eversource’s rate-hike request to DPU
Sources on the declining need for, and communities’ opposition to, transmission lines:
- Acadia Center, The Hidden Cost of Energy: Overpaying for An Outdated System
- List of Communities in NH and Mass working to stop Eversource transmission line projects: StopEversource.com
- Synapse Report The Access Northeast Pipeline Dream and New England’s Shrinking Need for Natural Gas
- Carbon Tracker, Wasted Capital and Stranded Assets and Expect the Unexpected: The Disruptive Power of Low-carbon Technologies
FINANCIAL ANALYSTS who follow Eversource:
Dan Ford, CFA. (+1) 212 526 0836 daniel.x.ford@barclays.com
Michael S. Worms.(+1) 212 885 4031. BMO CapitalMarkets Corp. michael.worms@bmo.com
Citi Investment Research, Praful Mehta, Phone:(+1) 212 816 5431
Caroline Bone, CFA (+1)212 250-8253 | caroline.bone@db.com
Evercore ISI, Greg Gordon,(+1) 212 653 9000
Goldman, Sachs & Co. Michael Lapides.(+1) 212 357 6307 michael.lapides@gs.com
Shahriar Pourreza, CFA. Power and Utilities.(+1) 212 518 5862. Shahriar.Pourreza@guggenheimpartners.com
James Ward, CFA.(+1) 212 231 0707 james.ward@macquarie.com
Mizuho Securities James D. von Riesemann (+1) 212 205 7857 james.vonriesemann@us.mizuho-sc.com
Devin McDermott Devin.McDermott@morganstanley.com +1 212 761 1125
Morningstar, Inc. Travis Miller,(+1) 312 384 4813, travis.miller@morningstar.com
Julien Dumoulin-Smith. Analyst julien.dumoulin-smith@ubs.com.(+1) 212 713 9848
Value Line Publishing Paul Debbas (+1) 212 907 1724 pdebbas@valueline.com
Wells Fargo Securities, LLC, Neil Kalton, (+1) 314 875 2051, neil.kalton@wellsfargo.com
Christopher Ellinghaus. Phone: (+1) 212 373 4288
Steven I. Fleishman. Managing Director, Senior Utilities Analyst. (+1) 646 582 9241. sfleishman@wolferesearch.com