23426--2/26/2010--CONNECTICUT_LIGHT_&_POWER

related topics

{cost, contract, operation}

{regulation, change, law}

{debt, indebtedness, cash}

{capital, credit, financial}

{operation, natural, condition}

{interest, director, officer}

{condition, economic, financial}

{personnel, key, retain}

{cost, regulation, environmental}

The actions of regulators can significantly affect our earnings, liquidity and business activities. Our transmission and distribution systems may not operate as expected, and could require unplanned expenditures which could adversely affect our earnings and cash flows. Limits on our access to capital may adversely impact our ability to execute our business plan. Our counterparties may not meet their obligations to us. Changes in regulatory or legislative policy and/or regulatory decisions, difficulties in obtaining siting, design or other approvals, global demand for critical resources, environmental or other concerns, or construction of new generation may delay completion of or displace our planned transmission projects or adversely affect our ability to recover our investments or result in lower than expected rates of return. Increases in electric and gas prices, the continued economic slowdown, focus on conservation and self-generation by customers and changes in legislative and regulatory policy may adversely impact our business. Changes in regulatory and/or legislative policy could negatively impact regional transmission cost allocation rules. Changes in regulatory or legislative policy or unfavorable outcomes in regulatory proceedings could jeopardize our full and/or timely recovery of costs incurred by our regulated companies. Judicial or regulatory proceedings or changes in regulatory or legislative policy could jeopardize completion of, or full recovery of costs incurred by PSNH in constructing, the Clean Air Project. The loss of key personnel or the inability to hire and retain qualified employees could have an adverse effect on our business, financial condition and results of operations. Grid disturbances, severe weather, or acts of war or terrorism could negatively impact our business. Market performance or changes in assumptions could require us to make significant contributions to our pension and other post-employment benefit plans. Costs of compliance with environmental regulations, including climate change legislation, may increase and have an adverse effect on our business and results of operations. As a holding company with no revenue-generating operations, NU parent is dependent on dividends from its subsidiaries, primarily the regulated companies, its bank facility, and its ability to access the long-term debt and equity capital markets.

Full 10-K form ▸

23426--2/26/2010--CONNECTICUT_LIGHT_&_POWER_CO