Eversource Energy (ES)

The company’s core role is to own, maintain, and modernise essential energy infrastructure. That includes electric transmission and distribution systems, gas distribution networks, and water utility assets. Eversource has expanded its footprint over time through acquisitions, including NStar in 2012, Aquarion in 2017, and Columbia Gas of Massachusetts in 2020. These deals broadened its customer base and added scale in markets where utility infrastructure requires long-term capital investment.

Eversource has also adjusted its portfolio to focus more tightly on regulated operations. It exited most unregulated businesses in 2006 and, in 2024, ended its 50% partnership with Ørsted to develop offshore wind projects in the Northeast. The company has also stated plans to sell Aquarion in 2026, which would further narrow its emphasis on electric and gas utility operations.

For investors, Eversource represents a large regional utility with defensive demand characteristics, significant infrastructure spending needs, and exposure to regulatory outcomes in the Northeast. Its performance depends on allowed returns, customer growth, energy transition requirements, storm costs, and the execution of grid reliability and modernisation programmes.