Eversource Company Overview
What is the Stock Ticker for Eversource?
The stock ticker for Eversource is ES.
Where is the Eversource headquarters?
Eversource's headquarters is located in Hartford, Connecticut, United States.
What Does Eversource Do?
Eversource is a utility company that provides electricity and natural gas services to customers in Connecticut, Massachusetts, and New Hampshire. They also offer energy efficiency programs and renewable energy options to their customers.
How Does Eversource Make Money?
Eversource is a publicly traded energy company that generates revenue through the sale of electricity and natural gas to residential, commercial, and industrial customers. The company operates in four segments: electric distribution, electric transmission, natural gas distribution, and water distribution.
Electric distribution is the largest segment, accounting for approximately 60% of the company's revenue. Eversource owns and operates a network of power lines and substations that deliver electricity to over 3.6 million customers in Connecticut, Massachusetts, and New Hampshire. The company charges customers for the amount of electricity they consume, as well as for the cost of maintaining and upgrading the distribution system.
Electric transmission is the second-largest segment, accounting for approximately 20% of the company's revenue. Eversource owns and operates a network of high-voltage power lines that transport electricity from power plants to local distribution systems. The company charges other utilities for the use of its transmission system.
Natural gas distribution is the third-largest segment, accounting for approximately 15% of the company's revenue. Eversource owns and operates a network of pipelines that deliver natural gas to over 300,000 customers in Massachusetts and Connecticut. The company charges customers for the amount of natural gas they consume, as well as for the cost of maintaining and upgrading the distribution system.
Water distribution is the smallest segment, accounting for approximately 5% of the company's revenue. Eversource owns and operates a water utility that provides drinking water to over 200,000 customers in Connecticut. The company charges customers for the amount of water they consume, as well as for the cost of maintaining and upgrading the distribution system.
In addition to its core business operations, Eversource also generates revenue through energy-related services such as energy efficiency programs, renewable energy development, and energy consulting services. The company also earns income from investments in other energy-related businesses.
Overall, Eversource generates revenue by providing essential energy and water services to customers in its service territories, and by leveraging its expertise in the energy industry to provide additional services and investments.
Who Founded Eversource?
Eversource was formed in 2012 through the merger of Northeast Utilities and NSTAR. Therefore, the founders of the company are the former executives and shareholders of these two companies.
What is the History of Eversource?
Eversource is a utility company that provides electricity and natural gas services to customers in Connecticut, Massachusetts, and New Hampshire. The company was formed in 2012 through the merger of Northeast Utilities and NSTAR.
Northeast Utilities was originally founded in 1966 as a holding company for several New England electric utilities. Over the years, the company grew through a series of mergers and acquisitions, including the acquisition of Connecticut Light and Power in 1998 and the merger with NSTAR in 2012.
NSTAR was originally founded in 1999 through the merger of Boston Edison and Commonwealth Energy System. The company provided electricity and gas services to customers in Massachusetts.
Today, Eversource is one of the largest utility companies in the Northeast, serving over 4 million customers. The company is committed to providing reliable, affordable, and sustainable energy to its customers, while also investing in renewable energy and energy efficiency initiatives.
What Industry is Eversource In?
Eversource is in the energy and utilities industry.
What Are Eversource's Competitive Advantages?
1. Strong Market Position: Eversource is one of the largest energy companies in the Northeastern United States, serving over 4 million customers in Connecticut, Massachusetts, and New Hampshire. Its strong market position gives it a competitive advantage in terms of economies of scale, pricing power, and customer loyalty.
2. Diversified Business Model: Eversource operates in three main business segments: electric distribution, natural gas distribution, and water distribution. This diversified business model helps the company to mitigate risks and capitalize on opportunities in different markets.
3. Strong Regulatory Relationships: Eversource has a long history of working closely with regulators to ensure that its operations comply with state and federal regulations. This has helped the company to maintain a positive reputation and build strong relationships with regulators, which can be a competitive advantage in a highly regulated industry.
4. Focus on Innovation: Eversource is committed to investing in new technologies and innovative solutions to improve its operations and better serve its customers. This focus on innovation can help the company to stay ahead of its competitors and maintain its market position.
5. Strong Financial Performance: Eversource has a strong financial track record, with consistent revenue growth and profitability. This financial strength gives the company the resources it needs to invest in new technologies, expand its operations, and pursue strategic acquisitions.
What Are Eversource's Competitive Threats?
Some competitive threats to Eversource include the rise of renewable energy sources, such as solar and wind power, which could potentially reduce demand for traditional utility services. Additionally, deregulation of the energy industry could lead to increased competition from new market entrants. Finally, the increasing popularity of energy-efficient technologies and home automation systems could also impact demand for Eversource's services.
Who Are Some of the Competitors of Eversource?
Some of the competitors of Eversource include National Grid, Dominion Energy, Duke Energy, NextEra Energy, and Exelon.
What Are Some of Eversource's Products and Services?
Some notable products and services from Eversource include electricity generation, transmission, and distribution, natural gas distribution, energy efficiency programs, and renewable energy initiatives. They also offer customer service and support for billing, account management, and outage reporting.
Has Eversource Acquired any Companies?
Yes, Eversource has made several notable acquisitions over the years. Some of the most significant ones include:
1. Aquarion Water Company: In 2017, Eversource acquired Aquarion Water Company, a water utility that serves over 700,000 customers in Connecticut, Massachusetts, and New Hampshire.
2. Columbia Gas of Massachusetts: In 2020, Eversource acquired Columbia Gas of Massachusetts, a natural gas utility that serves over 320,000 customers in Massachusetts.
3. Yankee Gas: In 2012, Eversource acquired Yankee Gas, a natural gas utility that serves over 220,000 customers in Connecticut.
4. NSTAR: In 2012, Eversource merged with NSTAR, a utility that serves over 1.4 million customers in Massachusetts.
These acquisitions have helped Eversource expand its operations and strengthen its position in the energy and utility markets.