November 7, 2011
NStar Profits Rise In Q3
NStar, the Boston-based utility that covers much of the MetroWest region, made $97.6 million in profits on revenues of $809 million in the third quarter of 2011.
That's up from profits of $75.5 million and revenues of $798.5 million for the same quarter last year. Last year's third-quarter profits were lower than this year's, primarily because of a one-time $20.6-million charge related to a settlement with the Internal Revenue Service.
The company said it is continuing to move forward with its planned merger with Connecticut-based Northeast Utilities and is confident it will pass muster with the Massachusetts Department of Public Utilities, which is evaluating the public impact of the deal.
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