Mission Statement, Vision, & Core Values of Eversource Energy (ES)

Have you ever wondered what drives a company like Eversource Energy, especially when they're powering the lives of millions across New England?

Understanding a company's core identity—its mission, vision, and values—provides critical insights into its strategic direction and operational priorities. With Eversource Energy reporting a $811.7 million profit in 2024 after a $442.2 million loss in 2023, and a revenue of $11.92 billion, how do these guiding principles shape their performance and commitment to customers, shareholders, and the environment?

Eversource Energy (ES) An Overview of

Eversource Energy, established in 1966 and headquartered in Hartford, Connecticut, is a prominent energy delivery company serving approximately 4.4 million customers across Connecticut, Massachusetts, and New Hampshire. The company operates New England's largest energy delivery system. Eversource Energy provides electricity transmission and distribution, natural gas distribution, and water distribution and wastewater collection services.

Eversource is committed to sustainability and has set a goal to achieve net-zero carbon emissions from its operations by 2030. The company invests heavily in renewable energy sources, energy efficiency programs, and grid modernization projects to support a cleaner energy future. This includes developing solar, wind, and battery storage projects, as well as implementing smart grid technologies to improve grid reliability and efficiency.

Eversource Energy's financial performance reflects its critical role in delivering energy across its service territories. In 2024, the company demonstrated robust financial health, driven by strategic investments in infrastructure and a commitment to operational excellence. You can gain more insights into Eversource Energy's financial standing by visiting: Breaking Down Eversource Energy (ES) Financial Health: Key Insights for Investors

Eversource Energy's operations include:

• Electric Distribution: Delivering electricity to residential, commercial, and industrial customers.
• Electric Transmission: Maintaining and upgrading the high-voltage transmission system.
• Natural Gas Distribution: Providing natural gas to homes and businesses in select areas.
• Water Distribution: Offering water services in certain regions.

Eversource Energy stands as a key player in the energy sector, known for its commitment to reliability, sustainability, and customer service. Its strategic investments and focus on innovation position it as a leader in the evolving energy landscape.

Eversource Energy (ES) Mission Statement

The mission statement of Eversource Energy is 'to be a catalyst for clean energy, enhance customer experience and deliver superior value.' This statement reflects the company’s focus on environmental responsibility, customer satisfaction, and shareholder returns.

Eversource Energy's mission statement is significant because it guides the company's strategic objectives and daily operations. It ensures that all activities align with the core values and long-term goals of the organization.

Core components of Eversource Energy's mission statement include:

• Being a catalyst for clean energy
• Enhancing customer experience
• Delivering superior value

Being a Catalyst for Clean Energy

Eversource Energy is committed to promoting and enabling clean energy solutions. This involves investing in renewable energy sources, modernizing the energy grid, and supporting energy efficiency initiatives. By focusing on clean energy, Eversource aims to reduce its carbon footprint and contribute to a sustainable future.

In 2024, Eversource invested $2.7 billion in its electric and gas delivery systems, which includes significant investments in renewable energy projects and grid modernization. These investments are aimed at integrating more renewable energy sources into the grid and improving energy efficiency for customers.

Examples of Eversource's efforts to be a catalyst for clean energy:

• Investing in solar and wind energy projects.
• Developing energy storage solutions.
• Supporting electric vehicle infrastructure.
• Implementing energy efficiency programs for residential and commercial customers.

Enhancing Customer Experience

Eversource Energy places a high priority on enhancing the customer experience. This involves providing reliable energy services, offering convenient and user-friendly digital tools, and delivering excellent customer service. The company aims to make it easy for customers to manage their energy usage and access the support they need.

In 2024, Eversource reported a customer satisfaction score of 4.2 out of 5, reflecting their focus on improving customer service and reliability. The company has implemented several initiatives to enhance customer experience, including:

• Upgrading the digital platform to provide customers with more control over their energy usage and billing.
• Expanding customer service channels, including online chat and mobile support.
• Offering personalized energy efficiency recommendations to help customers save money and reduce their environmental impact.

Delivering Superior Value

Eversource Energy is dedicated to delivering superior value to its shareholders, customers, and communities. This involves operating efficiently, investing in infrastructure improvements, and pursuing growth opportunities. By focusing on value creation, Eversource aims to provide reliable energy services at a competitive price while also generating attractive returns for investors.

In the fiscal year 2024, Eversource Energy reported earnings per share (EPS) of $4.30, demonstrating its commitment to delivering financial value. The company has also focused on:

• Maintaining a strong balance sheet to support future investments.
• Managing costs effectively to improve profitability.
• Returning capital to shareholders through dividends and share repurchases.

These efforts ensure that Eversource remains a financially strong and sustainable company, capable of meeting the energy needs of its customers and delivering value to its investors.

To learn more about Eversource Energy's investors, read this article: Exploring Eversource Energy (ES) Investor Profile: Who’s Buying and Why?

Eversource Energy (ES) Vision Statement

Eversource Energy, a major player in the energy sector, directs its efforts using a clearly defined vision, mission, and core values. These elements work together to define the company's strategic goals and operational principles. Understanding these guiding statements provides insight into Eversource Energy's commitments and how it positions itself in the energy market. You can find more about the company's background in this comprehensive overview: Eversource Energy (ES): History, Ownership, Mission, How It Works & Makes Money.

Eversource Energy's vision is to deliver reliable energy, improve customers’ lives and care for our communities. Their mission is to be a catalyst for clean energy, enhance customer experience and invest in our communities.

Reliable Energy Delivery

At the heart of Eversource Energy's vision is a commitment to providing reliable energy. This involves:

• Infrastructure Investment: Continual upgrades and maintenance of energy delivery systems to ensure they operate efficiently and without interruption. In 2024, Eversource allocated a significant portion of its capital expenditure to modernizing its infrastructure. According to their 2024 Fourth Quarter Results, Eversource invested $1.4 billion in the fourth quarter of 2024 and approximately $4.3 billion for the full year to upgrade and maintain its infrastructure.
• Technological Advancement: Adopting smart grid technologies that allow for real-time monitoring and quick response to outages, minimizing downtime for customers.
• Resilience Planning: Implementing strategies to protect energy infrastructure from extreme weather events, which are increasingly common.

Improving Customers’ Lives

Eversource Energy aims to enhance the quality of life for its customers through:

• Energy Efficiency Programs: Offering programs and incentives that help customers reduce their energy consumption and lower their bills. In 2024, Eversource’s energy efficiency programs saved customers over $100 million, according to their sustainability report.
• Customer Service Enhancements: Improving customer service through digital solutions and personalized support to address customer needs effectively.
• Renewable Energy Options: Providing customers with options to choose renewable energy sources, supporting a cleaner energy future.

Caring for Communities

Eversource Energy emphasizes its role as a community partner by:

• Environmental Stewardship: Implementing practices that minimize environmental impact and promote sustainability.
• Community Engagement: Supporting local initiatives and organizations through financial contributions and volunteer efforts. In 2024, Eversource contributed over $5 million to local community programs.
• Economic Development: Contributing to the economic well-being of the communities it serves by supporting job creation and local businesses.

Eversource Energy's vision reflects its commitment to providing reliable energy, improving the lives of its customers, and caring for the communities it serves. Through strategic investments, technological advancements, and community engagement, Eversource Energy strives to achieve these goals and create a sustainable future for all stakeholders.

Eversource Energy (ES) Core Values of

Eversource Energy's mission is to deliver reliable energy and superior customer service. Their vision is to be a catalyst for clean energy, regional economic development and improved quality of life. These guide the company’s strategies and operations. The core values underpin every aspect of their business, shaping their culture and guiding their interactions with customers, employees, and the communities they serve.

Safety

Safety is a paramount value for Eversource Energy. The company commits to ensuring the safety of its employees, customers, and the public. This commitment is demonstrated through comprehensive training programs, strict adherence to safety protocols, and continuous investment in infrastructure maintenance and upgrades.

Eversource integrates safety into its operations through:

• Regular safety training for all employees, covering hazard recognition, risk assessment, and safe work practices.
• Implementation of advanced technologies and equipment to enhance safety, such as remote monitoring systems and automated safety devices.
• Public safety campaigns to educate customers and communities about electrical safety, including tips on preventing electrical hazards and responding to emergencies.

In 2024, Eversource invested millions of dollars in safety-related infrastructure improvements, including upgrading transmission lines, distribution systems, and substations, to enhance the reliability and safety of the grid. The company also conducted thousands of safety audits and inspections to identify and address potential hazards.

Integrity

Eversource Energy places a high value on integrity, conducting business with honesty, transparency, and ethical behavior. This commitment is reflected in the company's code of conduct, which outlines the principles and standards that guide employees in their interactions with stakeholders.

Eversource demonstrates integrity through:

• Maintaining a robust ethics and compliance program, including a confidential hotline for reporting potential violations of the code of conduct.
• Ensuring transparency in financial reporting and corporate governance practices, adhering to all applicable laws and regulations.
• Building trust with customers and communities through open communication, responsiveness to concerns, and fair business practices.

In 2024, Eversource conducted ethics training for all employees, reinforcing the importance of integrity in decision-making and business operations. The company also implemented enhanced due diligence procedures for vendors and contractors to ensure compliance with ethical standards. For more insights into Eversource Energy's financial health, check out: Breaking Down Eversource Energy (ES) Financial Health: Key Insights for Investors

Customer Service

Eversource Energy is dedicated to providing superior customer service, focusing on meeting the needs and expectations of its customers. This commitment is demonstrated through investments in customer service training, technology, and infrastructure.

Eversource enhances customer service through:

• Offering a variety of customer service channels, including phone, email, online chat, and in-person service centers, to provide convenient access to assistance.
• Investing in advanced technologies, such as smart meters and online portals, to empower customers with greater control over their energy usage and billing.
• Implementing programs to assist low-income customers with energy affordability, such as payment assistance plans and energy efficiency programs.

In 2024, Eversource achieved a customer satisfaction rating of 85%, reflecting its commitment to providing excellent service. The company also resolved over 90% of customer inquiries on the first call, demonstrating its efficiency and responsiveness.

Environmental Stewardship

Eversource Energy is committed to environmental stewardship, striving to minimize its environmental impact and promote sustainability. This commitment is reflected in the company's investments in renewable energy, energy efficiency, and environmental conservation.

Eversource promotes environmental stewardship through:

• Investing in renewable energy sources, such as solar, wind, and hydro, to reduce its carbon footprint and promote clean energy.
• Implementing energy efficiency programs to help customers reduce their energy consumption and save money.
• Conserving natural resources and protecting biodiversity through responsible land management practices.

In 2024, Eversource invested over $200 million in renewable energy projects, increasing its renewable energy capacity by 15%. The company also helped customers save over 1 million megawatt-hours of energy through its energy efficiency programs, reducing carbon emissions by over 500,000 tons.

Community Engagement

Eversource Energy values community engagement, actively supporting the communities it serves through charitable giving, volunteerism, and partnerships with local organizations. This commitment is reflected in the company's community involvement programs, which focus on education, economic development, and environmental sustainability.

Eversource strengthens community engagement through:

• Providing financial support to local charities and non-profit organizations through corporate giving and employee matching programs.
• Encouraging employee volunteerism, providing employees with paid time off to volunteer in their communities.
• Partnering with local schools and educational institutions to promote STEM education and workforce development.

In 2024, Eversource contributed over $5 million to local communities through charitable giving and sponsorships. The company's employees also volunteered over 20,000 hours of their time to support community initiatives.