April 30, 2010
NStar Profits Dip
By Brandon Butler
NStar, the Boston-based utility company, reported that its quarterly profits dropped slightly to $59.7 million as revenues declined by about 15 percent.
Revenues for the company fell from $900 million in the first quarter of 2009 to $766 million during the same time period this year. Last year's profits during the first quarter were $61 million.
Gas sales for the company decreased 5 percent while electric sales were down 2 percent. There were some increases in electric distribution revenues and earnings on non-utility operations. Midler winter weather also impacted the company.
NStar provides gas and electric services to several Central Massachusetts communities including Framingham, Hopkinton, Holliston.
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