The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Paul Patterson - Glenrock Associates LLC - Analyst
: Certainly quickly, on the Connecticut, you guys mentioned that you don't think you're earning your ROE and stuff. And I was just wondering, I
know, last year, you guys obviously had challenges with storms and stuff. But if we would look like on sort of this level, I mean, 2021, I know you're
not giving guidance for sub. But just sort of roughly speaking, what kind of ROE or return range do you guys sort of expect to be in for 2021 in
Connecticut?
Question: Paul Patterson - Glenrock Associates LLC - Analyst
: But does that have the storms and stuff in there or is that sort of a normalized number?
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FEBRUARY 17, 2021 / 2:00PM, ES.N - Q4 2020 Eversource Energy Earnings Call
Question: Paul Patterson - Glenrock Associates LLC - Analyst
: Okay. That's great. That's helpful. And then also just on the CLP transmission CapEx, 2021 and 2022 seemed like they jumped a lot over your last
forecast. And I was sort of wondering if there's anything to call out on that? I mean, you guys mentioned you're not doing any large projects really
or it's mostly sort of nuts and bolts, it sounds like. I was just wondering if there's anything in particular that -- I mean, that seems to be one of the
bigger moves in the slide deck.
Question: Paul Patterson - Glenrock Associates LLC - Analyst
: Well, I think it's on -- when I look at the chart, it look to me when I was doing a comparison that from 2021 and maybe it went from $209 million to
$443 million. And for 2022, $184 million to $264 million. I can follow-up later. I mean, I'm not -- I don't -- but that's what I -- it just looked like to me
like there was a -- it could be timing too or something, I don't know. Anyway, I just -- I was wondering if there's anything in particular.
And then finally, on the offshore wind, given what we've seen in Texas and what have you, and I apologize for not knowing this, but I was just
wondering, just in terms of how these contracts work, if there was some issue with not being able to provide power, is there -- I mean, do you have
to go in the spot market and make it up or do you just simply not get paid for the power that you have delivered? Or I just wanted to sort of get a
sense as to how it works since basically, what -- but maybe think about this, of course, is what we're seeing in Midwest and stuff?
Question: Paul Patterson - Glenrock Associates LLC - Analyst
: I hear what you're saying. I'm not suggesting that there's some particular issue with it. I was just wondering, though, if -- in terms of wind being
kind of an intermittent resource, I'm just wondering, the way the contract works, if for some reason, whatever it may be, you don't have the
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FEBRUARY 17, 2021 / 2:00PM, ES.N - Q4 2020 Eversource Energy Earnings Call
production that you expected. Would that be something where you just simply don't get paid if that production isn't happening or would you
actually maybe be short, so to speak, and have to make up the difference. My assumption is the former not the latter, but I just want to...
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