Reg FD Disclosure · Company Update

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM  8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   Date of Report (Date of earliest event reported): September 7, 2023   EVERSOURCE ENERGY (Exact name of registrant as specified in its charter)   Massachusetts   001-05324   04-2147929 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)   300 Cadwell Drive , Springfield , Massachusetts , 01104 (Address of principal executive offices, including zip code)   ( 800 ) 286-5000 Registrant’s telephone number, including area code    Not Applicable (Former name or former address, if changed since last report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):   ¨     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ¨     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ¨     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ¨     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Shares, $5.00 par value per share   ES   New York Stock Exchange   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of the chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of the chapter).   Emerging growth company ¨   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨             Section 7 Regulation FD   Item 7.01 Regulation FD Disclosure.   On September 7, 2023, Eversource Energy (“Eversource” or the “Company”) issued a press release announcing the closing of the Transaction (as defined below). The press release is attached as Exhibit 99.1 and incorporated herein by reference.   The information contained in this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” with the Securities and Exchange Commission (the “SEC”) nor incorporated by reference in any registration statement filed by the Company or any subsidiary thereof under the Securities Act of 1933, as amended, unless specified otherwise.   Section 8 Other Events   Item 8.01 Other Events.   Eversource today announced that it has closed the sale of its uncommitted lease area consisting of approximately 175,000 developable acres located 25 miles off the south coast of Massachusetts to Ørsted for $625 million in an all-cash transaction previously announced on May 25, 2023 (the “Transaction”). The initial payment of $575 million was paid upon closing of the Transaction, with the remaining $50 million (the “Remaining Payment”) to be paid upon the occurrence of certain events relating to Eversource’s or one of its affiliate’s anticipated tax equity investment in South Fork Wind, LLC, a Delaware limited liability company and wholly owned subsidiary of North East Offshore, LLC (“South Fork Wind”). It is anticipated that the Remaining Payment will be payable by the end of the third quarter of 2023.   Eversource and Ørsted today announced the execution of a Tax Equity Capital Contribution Agreement for South Fork Wind. Eversource will use a portion of the proceeds from the lease area sale to provide tax equity for South Fork Wind through a new tax equity member interest. The contribution for Eversource’s new tax equity member interest is expected to be approximately $545 million. Eversource expects to recover this tax equity member interest investment primarily in the form of investment tax credits as turbines are placed in service for South Fork Wind. These credits will be utilized to reduce federal tax liability, including refunds expected over the next nine months. Eversource also expects to receive approximately $273 million of this contribution as a distribution from the project prior to its commercial operations date, as it currently remains a managing member of the project, along with Ørsted. Construction of South Fork Wind commenced in early 2022, with commercial operation expected in late 2023. Eversource’s tax equity investment in South Fork Wind is expected to close in the third quarter.      2       Forward-Looking Statements   This document includes statements concerning Eversource Energy’s expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance or growth and other statements that are not historical facts, including the anticipated timing of receiving the Remaining Payment and of closing the tax equity investment, as well as the anticipated contribution and distribution amounts and potential future tax credits. These statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, readers can identify these forward-looking statements through the use of words or phrases such as “estimate,” “expect,” “anticipate,” “intend,” “plan,” “project,” “believe,” “forecast,” “should,” “could” and other similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results or outcomes to differ materially from those included in the forward-looking statements. Forward-looking statements are based on the current expectations, estimates, assumptions or projections of management and are not guarantees of future performance. These expectations, estimates, assumptions or projections may vary materially from actual results. Accordingly, any such statements are qualified in their entirety by reference to, and are accompanied by, the following important factors that may cause our actual results or outcomes to differ materially from those contained in our forward-looking statements, including, but not limited to: cyberattacks or breaches, including those resulting in the compromise of the confidentiality of our proprietary information and the personal information of our customers; disruptions in the capital markets or other events that make our access to necessary capital more difficult or costly; changes in economic conditions, including impact on interest rates, tax policies, and customer demand and payment ability; ability or inability to commence and complete our major strategic development projects and opportunities; acts of war or terrorism, physical attacks or grid disturbances that may damage and disrupt our electric transmission and electric, natural gas, and water distribution systems; actions or inaction of local, state and federal regulatory, public policy and taxing bodies; substandard performance of third-party suppliers and service providers; fluctuations in weather patterns, including extreme weather due to climate change; changes in business conditions, which could include disruptive technology or development of alternative energy sources related to our current or future business model; contamination of, or disruption in, our water supplies; changes in levels or timing of capital expenditures; changes in laws, regulations or regulatory policy, including compliance with environmental laws and regulations; changes in accounting standards and financial reporting regulations; actions of rating agencies; and other presently unknown or unforeseen factors.   Other risk factors are detailed in Eversource Energy’s reports filed with the Securities and Exchange Commission (the “SEC”). They are updated as necessary and available on Eversource Energy’s website at www.eversource.com and on the SEC’s website at www.sec.gov. All such factors are difficult to predict and contain uncertainties that may materially affect Eversource Energy’s actual results, many of which are beyond our control. You should not place undue reliance on the forward-looking statements, as each speaks only as of the date on which such statement is made, and, except as required by federal securities laws, Eversource Energy undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events.   Section 9 Financial Statements and Exhibits   Item 9.01 Financial Statements and Exhibits.   (d) Exhibits.     Exhibit No. Description   99.1 Press release of the Company, dated September 7, 2023.   104 Cover Page Interactive Data File (embedded within the Inline XBRL document).     3       SIGNATURE   Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused the report to be signed on its behalf by the undersigned hereunto duly authorized.     EVERSOURCE ENERGY   (Registrant)         September 7, 2023 By: /s/ Jay S. Buth     Jay S. Buth     Vice President, Controller and     Chief Accounting Officer     4