May 6, 2011
Results Up For Northeast Utilities
Northeast Utilities, the Hartford, Conn. company that is merging with Massachusetts utility NSTAR, reported first quarter earnings of $114.2 million, up from $86.2 million for the same period last year.
The company attributed the increase to cold weather in early 2011, cost control and infrastructure improvement efforts and the effect of electric distribution rate decisions over the past year.
NU said the results include an after-tax charge of $8.3 million related to the pending merger.
NSTAR is based in Boston and serves parts of Eastern and Central Massachusetts. The two companies have said they plan to complete their merger in the second half of this year.
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