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MarketScreener Homepage  >  Equities  >  Nyse  >  Eversource Energy    ES

EVERSOURCE ENERGY

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Eversource Energy : Upgrading Electric System in Western Massachusetts

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08/14/2019 | 11:27am EDT

Energy company investing $4 million to improve reliability for customers in Franklin, Hampshire and Berkshire counties

SPRINGFIELD, Mass. (August 14, 2019) - As part of Eversource's commitment to provide reliable power to its customers, the energy company is investing $4 million in electric distribution system upgrades in the towns of Plainfield, Cummington, Chesterfield, Worthington, Windsor, Savoy, and Dalton. These enhancement projects include replacing more than 130 utility poles with stronger, thicker ones and installing more than 21,000 feet of more resilient power lines.

'Our job is to ensure customers have the reliable energy they need to run their businesses and power their lives,' said Eversource President of Regional Electric Operations Craig Hallstrom. 'By making these strategic investments, like the ones in Western Massachusetts, we're building a more robust and resilient electric grid that will serve our customers well into the future.'

'Smart switches' are also being added to the system to help restore power outages more quickly in the event they happen. These devices can limit the number of customers affected by an outage and restore power with computer-assisted technology from the energy company's operations center even before sending a crew to inspect the line and make repairs.

A major component of this upgrade project is connecting two electrical circuits, creating a loop. Once the two electrical systems are tied together it will make substations on either end accessible when needed, boosting the company's ability to deliver reliable power.

Work is continuing in Windsor on Route 9 and, weather permitting, crews are working from 6 a.m. to 4 p.m. Monday through Thursday. The company and its contractors are coordinating with town officials about potential traffic disruptions while the work is ongoing. Customers may experience short power interruptions during the project, so crews can safely perform the work. Any customers affected will be notified by the company in advance. The project is expected to be complete by this fall.

Eversource (NYSE: ES) transmits and delivers electricity, natural gas and water to 1.7 million customers throughout Massachusetts. This includes approximately 1.4 million electric customers in 140 communities, 300,000 gas customers in 51 communities, and 19,500 water customers in five communities. Recognized as the top U.S. utility for its energy efficiency programs by the sustainability advocacy organization Ceres, Eversource harnesses the commitment of its more than 8,300 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. For more information, please visit our website(www.eversource.com) and follow us on Twitter(@eversourceMA) and Facebook(facebook.com/EversourceMA). For more information on our water services, visitwww.aquarionwater.com.

CONTACT:
Priscilla Ress
413-787-1055
priscilla.ress@eversource.com

Disclaimer

Eversource Energy published this content on 14 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2019 15:26:06 UTC

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Financials (USD)
Sales 2019 8 668 M
EBIT 2019 1 855 M
Net income 2019 1 068 M
Debt 2019 15 317 M
Yield 2019 2,71%
P/E ratio 2019 23,9x
P/E ratio 2020 21,6x
EV / Sales2019 4,72x
EV / Sales2020 4,62x
Capitalization 25 555 M
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