NStar

What NStar does

NSTAR is a regulated utility division of Eversource Energy (NYSE: ES) that delivers retail electricity, natural gas, and water services to residential customers across Massachusetts. Operating as part of Eversource's consolidated New England utility footprint spanning Connecticut, Massachusetts, and New Hampshire, NSTAR distributes energy through company-owned transmission, distribution, and pipeline infrastructure under exclusive territorial franchises granted by Massachusetts state regulators. The division serves approximately 303,000 residential customers in Massachusetts and provides digital self-service capabilities through the Eversource mobile application (iOS and Android) and integrated web platform for bill payment, outage reporting, gas emergency reporting, service start/stop/transfer, and energy bill assistance programs.

NSTAR's revenue is generated entirely through regulated distribution tariffs set by state energy regulators, with rate adjustments requiring formal approval. Eversource Energy reported consolidated full-year 2025 earnings of $1.69 billion ($4.56 per share), more than doubling 2024 earnings of $811.7 million ($2.27 per share), driven by improved performance across transmission, electric distribution, and natural gas distribution segments and significantly reduced losses from offshore wind investments. The 2026 earnings guidance of $4.80-$4.95 per share signals continued growth momentum. Pricing power is constrained by regulatory oversight — Massachusetts regulators blocked a proposed $45 million winter rate increase, illustrating the regulatory ceiling on revenue expansion.

The business operates under a direct-to-consumer GTM motion, with services delivered through owned infrastructure and accessed by customers via company website, mobile applications, and customer service centers. Eversource has committed to a $26.5 billion five-year capital investment plan covering 2026-2030, targeting transmission, electric distribution, and natural gas distribution infrastructure across the consolidated territory, positioning NSTAR for sustained infrastructure renewal and capacity expansion within its regulated framework.

Name

NStar

Legal name

Eversource Energy

Website

https://nstar.com

Company type

Public

Founded year

1886

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

NSTAR is a regulated utility division of Eversource Energy that delivers retail electricity, natural gas, and water services to approximately 303,000 residential customers in Massachusetts through company-owned transmission and distribution infrastructure.

Ownership category

akta.pro rank

Product category

Regulated Electric and Gas Utility Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Distribution (221122), Utilities (22)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900), Natural Gas Distribution (4924), Natural Gas Transmisison & Distribution (4923)

akta.pro primary industry

Investor-Owned Electric Distribution Utilities (IOUs) (EUADABAA)

akta.pro secondary industries

System Operations & Control Centers (EMS/SCADA for Transmission) (EUADAAAG), Service Drops, Metering & Grid Connections (Last-Mile) (EUAEACAG), Turnkey distribution buildouts (feeders, reclosers, capacitor banks, line extensions) (EUADAKAK), Digital Self-Service & Customer Portals (web/mobile, e-bill, notifications, consumption dashboards) (EUANAIAI)

Keywords

• Electricity distribution services
• Natural gas distribution
• Regulated utility services
• Residential energy delivery
• Utility infrastructure management

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Electric Distribution: Revenue from regulated electricity distribution to residential and commercial customers. Earnings improved in 2025 driven by transmission and electric distribution segment performance.
2. Natural Gas Distribution: Revenue from regulated natural gas distribution services to customers. Improved results in 2025 across natural gas distribution segments.
3. Transmission Services: Revenue from electricity transmission infrastructure operations, part of improved 2025 performance across transmission, distribution, and gas segments.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

NSTAR is the Massachusetts regulated utility division of Eversource Energy that distributes retail electricity, natural gas, and water to approximately 303,000 residential customers through company-owned transmission and distribution infrastructure. Service delivery is supported by a mobile application, online account management, outage reporting, gas emergency response, and bill payment tools, with rates subject to state regulatory approval.

Product overview

Eversource provides residential energy services primarily through its NSTAR division in Massachusetts, offering a unified customer-facing platform for electricity, natural gas, and water utility services. The product portfolio centers on the Eversource Mobile App (iOS/Android) as the primary digital interface, supplemented by web-based self-service tools including bill payment, outage reporting, gas emergency reporting, and service management (start/stop/transfer). These services are accessible through the company's residential website and mobile applications, with no separate standalone products or modules identified.

Differentiator

Problem solved

Functional benefit

Products and services

• Eversource Mobile App

Quantifiable outcome

• Full-year 2025 earnings of $1.69 billion, more than doubling 2024 earnings of $811.7 million
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• National Grid (Massachusetts): National Grid is the other major investor-owned electric and natural gas utility serving Massachusetts, directly competing with NSTAR in overlapping service territories in the state. It is the most directly comparable peer for residential electric and gas distribution in Massachusetts.
• Unitil Corporation: Unitil is a multi-state regulated electric and natural gas utility serving customers in New England, including parts of Massachusetts, New Hampshire, and Maine. It is directly comparable to NSTAR in terms of scale, regional focus, and regulated multi-utility operations.
• Liberty Utilities: Liberty Utilities is a regulated electric, natural gas, and water utility operating in multiple states, including Massachusetts. It directly competes with NSTAR in providing multi-utility services to residential customers in the same regulatory jurisdiction.
• Veolia Water Massachusetts: While NSTAR's water operations are not the primary focus, Veolia/other water utilities operating in Massachusetts provide partial overlap on water distribution services. Veolia is a notable peer on the water utility side of NSTAR's multi-utility service.

Broad incumbents

• Eversource Energy: Eversource Energy (NYSE: ES) is NSTAR's publicly traded parent company. While NSTAR is one of Eversource's operating divisions, Eversource as a whole provides the consolidated operational and financial benchmark against which NSTAR's contribution is measured.
• Consolidated Edison: ConEdison is a large diversified regulated energy company serving New York and New Jersey, comparable to NSTAR as a broad incumbent in regulated electric and gas distribution. Larger scale and broader geographic footprint, but similar regulated utility business model.
• Avangrid: Avangrid (majority-owned by Iberdrola) is a diversified regulated energy and renewables company with electric and gas distribution operations across the Northeast, including Massachusetts. Comparable to NSTAR as a Northeast-focused multi-utility incumbent.
• Exelon: Exelon is one of the largest pure-play regulated electric utilities in the United States, operating across multiple states. It serves as a relevant size and business model benchmark for NSTAR's parent, even though it does not operate in Massachusetts.
• PSEG: Public Service Enterprise Group (PSEG) is a diversified regulated utility with electric and gas operations in New Jersey and Long Island. Comparable to NSTAR as a multi-utility regulated operator with similar customer service and infrastructure investment strategies.

Regional players

• Berkshire Gas Company: Berkshire Gas is a natural gas distribution utility serving western Massachusetts, overlapping with NSTAR's Massachusetts service territory. It is a regional player comparable on natural gas distribution but with a more limited geographic and service scope.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCpq2zozgxhuM4iafvhVImVg
• Facebookfacebook.com/NSTARmedia
• LinkedInlinkedin.com/company/nstar
• Instagraminstagram.com/eversourceenergy
• Xx.com/nstar_news

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NStar