Other21614Cable Facilities4283329954Cost of Removal6Contribution from parent74323855223933927110849877Contribution from members7description1267499429637098Service Quality Penalty1description2230516930213description321description4332description512417Plant A55115Revenue Decoupling16Short-term Debt from Affiliate - Proceeds1842737049568Net Increase (Decrease) in Additional Paid in CapitalShort-term Debt from Affiliate - Payments28439Reversal of retirementOver CollectNet (Increase) Decrease in Temporary Investments2Plant B81IMPA3191Tax Reform - Tax SavingsIMPA21IMPA2Net (Increase) Decrease in Deferred ChargesNet Increase (Decrease) in Other Noncurrent Liabilities02142797300203982824569156832722Adjustment 11Series B645259359215792534259359212297Adjustment 1739419O259359211321199002259359217735442659711023142441044420505683274022873701244893982823Adjustment 2C00038802702011182342112784210Deferred Income Taxes09666090Adjustment 2Energy EfficiencyMajor4945625237325014254410301544103015353556062673250RQ2RQSystem 114954049Plant 11325344954049Transmission Service16042532135525629549456252RQ10444126597OSSeries A15686225RQPlant 227394110000004Common stock dividends52710068RQAmortization of Debt Discount and ExpenseBasic Service Admin Cost108936552710068RQ270201587370RQ4489 C000388 ferc:EnergyImbalanceMember 2018-01-012018-12-31 C000388 SeriesA 2018-01-012018-12-31 C000388 EnergyEfficiency 2018-01-012018-12-31 C000388 Tax Reform - Tax Savings 2018-12-31 C000388 ferc:OtherUtilityMember PlantInService 2018-12-31 C000388 AssetRetirementOblibation 2018-12-31 C000388 ferc:TwoYearsMember 2018-12-31 C000388 ferc:GasUtilityMember 2018-01-012018-12-31 C000388 Other 2018-01-012018-12-31 C000388 AssetRetirementOblibation 2017-12-31 C000388 ferc:Quarter1Member a1 2018-01-012018-12-31 C000388 Bonneville Power Administration 2018-01-012018-12-31 C000388 ferc:CurrentYearMember IMPA 2018-01-012018-12-31 C000388 ChristopherKelly 2018-01-012018-12-31 C000388 BasicServiceAdministrativeCost 2018-01-012018-12-31 C000388 PensionExpenseDeferredElectric 2017-12-31 C000388 Utility Revenue Bonds Series 2005 2018-12-31 C000388 PensionExpenseDeferredElectric 2018-12-31 C000388 Service Quality Penalty 2017-12-31 C000388 Revenue Decoupling Mechanism 2018-01-012018-12-31 C000388 b2 2017-12-31 C000388 Affiliate Moneypool Lending and Receivables/Payables.Net 2018-01-012018-12-31 C000388 Adjustment 1 2018-01-012018-12-31 C000388 ferc:AprilMember a1 2018-01-012018-12-31 C000388 ferc:TwoYearsMember 2017-12-31 C000388 ferc:ElectricPlantInServiceMemberferc:ElectricUtilityMember 2018-12-31 C000388 Adjustment 1 2018-01-012018-12-31 C000388 AssetRetirementOblibation 2018-01-012018-12-31 C000388 TransitionCharge 2017-12-31 C000388 b2 2017-01-012017-12-31 C000388 a1 2018-01-012018-12-31 C000388 Adjustment 2 2018-01-012018-12-31 C000388 Pension 2018-01-012018-12-31 C000388 b2 2018-12-31 C000388 Footnote 2 2018-01-012018-12-31 C000388 OtherSettlements2 2018-01-012018-12-31 C000388 ferc:TwoYearsMember 2018-01-012018-12-31 C000388 ferc:ThreeYearsMember IMPA 2018-01-012018-12-31 C000388 DanielBunszell 2018-01-012018-12-31 C000388 ferc:AfterThreeYearsMember IMPA 2018-01-012018-12-31 C000388 OPEB 2018-01-012018-12-31 C000388 ferc:ElectricUtilityMember 2018-12-31 C000388 ferc:AugustMember a1 2018-01-012018-12-31 C000388 ferc:GasUtilityMember 2017-01-012017-12-31 C000388 EnergyEfficiency 2018-12-31 C000388 IMPA 2018-01-012018-12-31 C000388 Series B 2018-12-31 C000388 ferc:SchedulingSystemControlAndDispatchMember 2018-01-012018-12-31 C000388 ferc:OtherUtilityMember OtherPlantInService 2018-01-012018-12-31 C000388 a1 2017-01-012017-12-31 C000388 Series B 2018-01-012018-12-31 C000388 Industrial Finance Agency 2018-01-012018-12-31 C000388 Pension 2018-12-31 C000388 ferc:AfterThreeYearsMember IMPA 2018-01-012018-12-31 C000388 Service Quality Penalty 2018-12-31 C000388 ferc:GenerationStudiesMember 2018-01-012018-12-31 C000388 a1 2018-01-012018-12-31 C000388 ferc:TwoYearsMember IMPA 2018-01-012018-12-31 C000388 DeferredIncomeTaxes 2018-12-31 C000388 b2 2018-01-012018-12-31 C000388 ferc:NextTwelveMonthsMember 2017-12-31 C000388 ferc:NextTwelveMonthsMember IMPA 2018-01-012018-12-31 C000388 ferc:ThreeYearsMember IMPA 2018-01-012018-12-31 C000388 ferc:Quarter3Member a1 2018-01-012018-12-31 C000388 ferc:ThreeYearsMember 2018-12-31 C000388 Storage 1 2018-01-012018-12-31 C000388 Provision for rate refunds 2018-01-012018-12-31 C000388 ferc:TwoYearsMember IMPA 2018-01-012018-12-31 C000388 a1 2018-01-012018-12-31 C000388 DeferredIncomeTaxes 2018-01-012018-12-31 C000388 DeferredIncomeTaxes 2017-12-31 C000388 ferc:JanuaryMember a1 2018-01-012018-12-31 C000388 Avista Corp. 2018-01-012018-12-31 C000388 Black Hills Power Inc. 2018-01-012018-12-31 C000388 Over Collect Commodity 2018-01-012018-12-31 C000388 Over Collect Commodity 2018-12-31 C000388 ferc:ThreeYearsMember 2018-01-012018-12-31 C000388 ferc:CurrentYearMember 2017-12-31 C000388 2017-12-31 C000388 DennisUrban 2018-01-012018-12-31 C000388 ferc:CurrentYearMember 2018-01-012018-12-31 C000388 2018-01-012018-12-31 C000388 ferc:GenerationStudiesMember ISO Grand Isle Intertie 2018-01-012018-12-31 C000388 Other 2017-01-012017-12-31 C000388 b2 2018-01-012018-12-31 C000388 a1 2018-01-012018-12-31 C000388 AVANGRID RENEWABLES, LLC 2018-01-012018-12-31 C000388 ferc:ElectricUtilityMember 2017-01-012017-12-31 C000388 TransmissionService 2018-12-31 C000388 ferc:ElectricUtilityMember 2017-12-31 C000388 ferc:AfterThreeYearsMember 2017-12-31 C000388 a1 2018-01-012018-12-31 C000388 SeriesA 2018-12-31 C000388 EnergyEfficiency 2018-12-31 C000388 OtherSettlements3 2018-01-012018-12-31 C000388 ferc:OctoberMember a1 2018-01-012018-12-31 C000388 Common Stock 2018-01-012018-12-31 C000388 ferc:NextTwelveMonthsMember IMPA 2018-01-012018-12-31 C000388 a1 2017-12-31 C000388 b2 2017-12-31 C000388 ferc:TransmissionStudiesMember 2018-01-012018-12-31 C000388 ferc:NovemberMember a1 2018-01-012018-12-31 C000388 ferc:OtherUtilityMember 2018-01-012018-12-31 C000388 Cable Facilities 2017-12-31 C000388 ferc:AfterThreeYearsMember IMPA 2018-01-012018-12-31 C000388 Footnote 1 2018-01-012018-12-31 C000388 ferc:ElectricPlantInServiceMemberferc:ElectricUtilityMember 2018-01-012018-12-31 C000388 ferc:NextTwelveMonthsMember 2018-12-31 C000388 Affiliate Moneypool Lending and Receivables/Payables.Net 2017-01-012017-12-31 C000388 Other 2017-01-012017-12-31 C000388 Brookfield Energy Marketing LP 2018-01-012018-12-31 C000388 Other 2017-01-012017-12-31 C000388 Electrical District No. 6 2018-01-012018-12-31 C000388 EnergyEfficiency 2017-12-31 C000388 2018-01-012018-12-31 C000388 a1 2017-12-31 C000388 Footnote 3 2018-01-012018-12-31 C000388 ferc:OperatingReserveSupplementMember 2018-01-012018-12-31 C000388 Provision for rate refunds 2017-01-012017-12-31 C000388 ferc:RegulationAndFrequencyResponseMember 2018-01-012018-12-31 C000388 ferc:OtherUtilityMember 2017-01-012017-12-31 C000388 Utility Revenue Bonds Series 2005 2018-01-012018-12-31 C000388 ferc:TransmissionStudiesMember Greeny Cty Solar 2018-01-012018-12-31 C000388 Other 2018-01-012018-12-31 C000388 DeferredIncomeTaxes 2018-01-012018-12-31 C000388 ferc:OtherUtilityMember PlantInService 2018-01-012018-12-31 C000388 TransmissionService 2017-12-31 C000388 ferc:NextTwelveMonthsMember 2018-01-012018-12-31 C000388 ferc:Quarter4Member a1 2018-01-012018-12-31 C000388 TransitionCharge 2018-01-012018-12-31 C000388 ferc:SeptemberMember a1 2018-01-012018-12-31 C000388 Other 2018-01-012018-12-31 C000388 ferc:GenerationStudiesMember ISO New England Clean Power Link 2018-01-012018-12-31 C000388 ferc:CurrentYearMember IMPA 2018-01-012018-12-31 C000388 ferc:AfterThreeYearsMember 2018-01-012018-12-31 C000388 ferc:NextTwelveMonthsMember IMPA 2018-01-012018-12-31 C000388 BP Energy Company 2018-01-012018-12-31 C000388 Harquahala Valley Irrigation District 2018-01-012018-12-31 C000388 ferc:DecemberMember a1 2018-01-012018-12-31 C000388 Buckeye Irrigation District 2018-01-012018-12-31 C000388 ferc:ReactiveSupplyAndVoltageMember 2018-01-012018-12-31 C000388 TransitionCharge 2018-12-31 C000388 JeannetteMills 2018-01-012018-12-31 C000388 a1 2017-01-012017-12-31 C000388 ferc:GenerationStudiesMember Granite State ISO Study 2018-01-012018-12-31 C000388 ferc:OperatingReserveSpinningMember 2018-01-012018-12-31 C000388 Tax Reform - Tax Savings 2018-01-012018-12-31 C000388 ferc:TransmissionStudiesMember Daybreak Solar Project 2018-01-012018-12-31 C000388 2017-01-012017-12-31 C000388 JohnBruckner 2018-01-012018-12-31 C000388 GeorgeCarlin 2018-01-012018-12-31 C000388 OtherSettlements1 2018-01-012018-12-31 C000388 ferc:TransmissionStudiesMember Connect NY Projects 2018-01-012018-12-31 C000388 ferc:OtherUtilityMember OtherPlantInService 2018-12-31 C000388 ferc:Quarter2Member a1 2018-01-012018-12-31 C000388 2018-12-31 C000388 2017-12-31 C000388 2016-12-31 C000388 PensionExpenseDeferredElectric 2018-01-012018-12-31 C000388 ferc:OtherUtilityMember OtherPlantInService 2017-12-31 C000388 Service Quality Penalty 2018-01-012018-12-31 C000388 OPEB 2018-12-31 C000388 DeferredIncomeTaxes 2018-12-31 C000388 Other 2018-01-012018-12-31 C000388 ferc:FebruaryMember a1 2018-01-012018-12-31 C000388 ferc:JuneMember a1 2018-01-012018-12-31 C000388 ADM Investor Services, Inc. 2018-01-012018-12-31 C000388 ferc:MarchMember a1 2018-01-012018-12-31 C000388 ferc:TwoYearsMember IMPA 2018-01-012018-12-31 C000388 TransmissionService 2018-01-012018-12-31 C000388 Other Retirements 2018-01-012018-12-31 C000388 ferc:AfterThreeYearsMember 2018-12-31 C000388 Aguila Irrigation District 2018-01-012018-12-31 C000388 ferc:OtherUtilityMember PlantInService 2017-12-31 C000388 Pension 2017-12-31 C000388 Storage 2 2018-01-012018-12-31 C000388 Energy Keepers, Inc. 2018-01-012018-12-31 C000388 Utility Revenue Bonds 2004 2018-01-012018-12-31 C000388 Cost of Removal 2017-01-012017-12-31 C000388 Cable Facilities 2018-12-31 C000388 ferc:CurrentYearMember 2018-12-31 C000388 EnergyEfficiency 2017-12-31 C000388 Over Collect Commodity 2017-12-31 C000388 a1 2017-01-012017-12-31 C000388 a1 2018-01-012018-12-31 C000388 EnergyEfficiency 2018-01-012018-12-31 C000388 ferc:ThreeYearsMember 2017-12-31 C000388 Arizona Public Service Co. 2018-01-012018-12-31 C000388 Cable Facilities 2018-01-012018-12-31 C000388 BasicServiceAdministrativeCost 2017-12-31 C000388 Amortization of Debt Discount and Expense 2017-01-012017-12-31 C000388 Revenue Decoupling Mechanism 2018-12-31 C000388 a1 2018-12-31 C000388 DeferredIncomeTaxes 2017-12-31 C000388 2018-12-31 C000388 ferc:ElectricPlantInServiceMemberferc:ElectricUtilityMember 2017-12-31 C000388 Other 2017-01-012017-12-31 C000388 b2 2018-12-31 C000388 ferc:TransmissionStudiesMember Saugerties Solar Project 2018-01-012018-12-31 C000388 b2 2018-01-012018-12-31 C000388 Amortization of Debt Discount and Expense 2018-01-012018-12-31 C000388 Other Retirements 2017-01-012017-12-31 C000388 BasicServiceAdministrativeCost 2018-12-31 C000388 IMPA 2018-01-012018-12-31 C000388 IMPA 2018-01-012018-12-31 C000388 ferc:MayMember a1 2018-01-012018-12-31 C000388 ferc:ThreeYearsMember IMPA 2018-01-012018-12-31 C000388 OPEB 2017-12-31 C000388 Revenue Decoupling Mechanism 2017-12-31 C000388 ferc:CurrentYearMember IMPA 2018-01-012018-12-31 C000388 Utility Revenue Bonds 2004 2018-12-31 C000388 Industrial Finance Agency 2018-12-31 C000388 Footnote 3 2018-01-012018-12-31 C000388 ferc:OtherAncillaryServicesMember 2018-01-012018-12-31 C000388 b2 2018-01-012018-12-31 C000388 ferc:ElectricUtilityMember 2018-01-012018-12-31 C000388 ferc:JulyMember a1 2018-01-012018-12-31 C000388 Cost of Removal 2018-01-012018-12-31 C000388 a1 2018-12-31 C000388 Tax Reform - Tax Savings 2017-12-31 utr:MWh iso4217:USD xbrli:pure iso4217:USD xbrli:shares utr:kWh ferc:Customers utr:MW xbrli:shares
THIS FILING IS
Item 1:
An Initial (Original) Submission
OR
Resubmission No.

FERC FINANCIAL REPORT
FERC FORM No. 1-F: ANNUAL REPORT
OF NONMAJOR PUBLIC UTILITIES AND
LICENSEES

This report is mandatory under the Federal Power Act, Sections 304(a), and 18 CFR 141.2. Failure to report may result in criminal fines, civil penalties and other sanctions as provided by law. The Federal Energy Regulatory Commission does not consider this report to be of a confidential nature.
Exact Legal Name of Respondent (Company)

Nantucket Electric Company
Year/Period of Report

End of:
2018
/
Q4


INSTRUCTIONS FOR FILING FERC Form No. 1-F

GENERAL INFORMATION

  1. Purpose

    FERC Forms 1-F and 3-Q are designed to collect financial and operational information from nonmajor public utilities and licensees subject to the jurisdiction of the Federal Energy Regulatory Commission
  2. Who Must Submit

    Each Nonmajor Public Utility or Licensee, as classified in the Com- mission's Uniform System of Accounts Prescribed for Public Utilities and Licensees Subject to the Provisions of the Federal Power Act (18 CFR Part 101 (U.S. of A.) must submit FERC Form 1-F (18 C.F.R. § 141.2) Filers required to submit FERC Form 1-F must also submit FERC Form 3-Q (18 C.F.R. § 141.400). Each Nonmajor public utility or licensee classified as Class C or Class D prior to January 1, 1984, may continue to file only the basic financial statements -Parts III, IV and V. Note: Nonmajor means having total annual sales of 10,000 megawatt-hours or more in the previous calendar year and not classified as "Major."
  3. What and Where to Submit

    Submit an original and one (1) copy of this form to:

    Office of the Secretary Federal Energy
    Regulatory Commission 888 First Street,
    N E. Washington, DC 2042

    1. For the CPA certification, submit with the original submission or within 30 days after the filing date of FERC Form 1-F, a letter or report (not applicable to respondents classified asClass C or Class D prior to January 1, 1984):

      1. Attesting to the conformity, in all material aspects, of the below listed (schedules and) pages with the Commission's applicable Uniform Systems of Accounts (including applicable notes relating thereto and the Chief Accountant's published accounting releases), and
      2. Signed by independent certified public accountants or an independent licensed public accountant, certified or licensed by a regulatory authority of a State or other political subdivision of the U.S. (See 18 C.F.R. §§ 41.10 41.12 for specific qualifications.)
      Schedules
      Comparative Balance Sheet
      Statement of Income
      Statement of Retained Earnings
      Statement of Cash Flows
      Notes to Financial Statements

    The following format must be used for the CPA Certification Statement for the letter or report unless unusual circumstances or conditions, explained in the letter or report, demand that it be varied. Insert parenthetical phrases only when exceptions are reported.

    In connection with our regular examination of the financial statements of for the year ended on which we have reported separately under date of we have also reviewed schedules of Form 1-F for the year filed with the Federal Energy Regulatory Commission, for conformity in all material respects with the requirements of the Federal Energy Regulatory Commission as set forth in its applicable Uniform System of Accounts and published accounting releases. Our review for this purpose included such tests of the accounting records and such other auditingproceduresasweconsiderednecessaryinthecircumstances.

    Based on our review, in our opinion the accompanying schedules identified in the preceding paragraph (except as noted below) conform in all material respects with the accounting requirements of the Federal Energy Regulatory Commission as set forth in its applicable Uniform System of Accounts and published accounting releases.

    The letter or report must state which, if any, of the pages above do not conform to the Commission's requirements. Describe the dis- crepancies that exist.

    Federal, State and Local Governments and other authorized users may obtain blank copies of the FERC Form 1-F free of charge from http://www.ferc.gov/docs-filing/hard-fil.asp.

    When to Submit Submit FERC Form 1-F on or before April 18th of the year following the calendar year covered by this report (18 C.F.R. § 141.2). Submit FERC Form 3-Q within 70 days from the end of the reporting quarter (18 C.F.R. § 141.400). Where to Send Comments on Public Reporting Burden

    The public reporting burden for this collection of information is estimated to average 122 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. Send comments regarding this burden estimate or any aspect of this collection of information, including suggestions for reducing this burden, to the Federal Energy Regulatory Commission, 888 First Street NE., Washington, DC 20426 (Attention: Michael Miller, CI-1; and to the Office of Management and Budget, Washington, DC 20503 (Attention: Desk Officer for the Federal Energy Regulatory Commission).

GENERAL INSTRUCTIONS

Report data as outlined in the U.S. of A. (18 C.F.R. Part 101) as designed for "Nonmajor" electric utilities. If the "Major" designated accounts are maintained, then the following schedules may be substituted:

Nonmajor Accounts Part Number Major Accounts Schedule Page (FERC Form No. 1)
III 110-113
IV 114-117
V 118-119
XII 219
XVI 300-301
XVII 320-323
XVIIII 310-311
XIX 326-327
XX 200-201, 204-207

Indicate negative amounts by enclosing the figures in parenthesis ( ), except where otherwise noted (debit or credit).

When making revisions, resubmit only those pages that have been changed from the original. Include with your resubmission Part I, Identification and Part II, Attestation.

Use Part XXII, Footnote Data, to footnote any entry made to parts II through XXI.

Enter Not applicable whenever a particular part is not applicable.

SPECIFIC INSTRUCTIONS Item No.Instruction All Refer to the form. All items are self-explanatory.


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

2019-03-29
Year/Period of Report

End of:
2018
/
Q4
Table of Contents
ScheduleListOfSchedulesAbstract
Table of Contents
1
ScheduleInstructionsAbstract
Instructions
2
I
ScheduleIdentificationAbstract
Identification
3
II
ScheduleAnnualReportCorporateOfficerCertificationAbstract
Annual Report Corporate Officer Certification
3a
III
ScheduleComparativeBalanceSheetAssetsAndOtherDebitsAbstract
Comparative Balance Sheet
4-5
IV
ScheduleStatementOfIncomeAbstract
Statement of Income for the Year
6-8
V
ScheduleRetainedEarningsAbstract
Statement of Retained Earnings
9
VI
ScheduleStatementOfCashFlowsAbstract
Statement of Cash Flows
10-11
VII
ScheduleStatementOfAccumulatedOtherComprehensiveIncomeAndHedgingActivitiesAbstract
Statement of Accumulated Other Comprehensive Income and Hedging Activities
12(a)(b)
VIII
ScheduleNotesToFinancialStatementsAbstract
Notes to Financial Statements
13-14
IX
ScheduleAllowanceInventoryAbstract
Allowances
15-16
X
ScheduleOtherRegulatoryAssetsAbstract
Other Regulatory Assets
17
XI
ScheduleDataOnOfficersAndDirectorsAbstract
Data on Officers and Directors
18
XII
ScheduleAccumulatedProvisionForDepreciationAndAmortizationOfUtilityPlantAbstract
Accumulated Provision for Depreciation and Amortization of Utility Plant
19
XIII
ScheduleCapitalStockAbstract
Capital Stock Data
19
XIV
ScheduleLongTermDebtAbstract
Long-Term Debt Data
19
XV
ScheduleOtherRegulatoryLiabilitiesAbstract
Other Regulatory Liabilities
20
XVI
ScheduleElectricSalesDataForTheYearAbstract
Electric Sales Data for the Year
21
XVII
ScheduleElectricOperationsAndMaintenanceExpensesShortAbstract
Electric Operation and Maintenance Expense
21
XVIII
ScheduleSalesForResaleShortAbstract
Sales for Resale
22
XIX
SchedulePurchasedPowerShortAbstract
Purchased Power
23
XX
ScheduleUtilityPlantDataAbstract
Utility Plant Data
24
XXI
ScheduleFootnoteDataAbstract
Footnote Data
25
XXII
SchedulePurchasesSalesOfAncillaryServicesAbstract
Purchases and Sales of Ancillary Services
26
XXIII
ScheduleMonthlyTransmissionSystemPeakLoadAbstract
Monthly Transmission System Peak Load
27-28
XXIV
ScheduleTransmissionServiceAndGenerationInterconnectionStudyCostsAbstract
Transmission Service and Generation Interconnection Study Costs
29
XXV
ScheduleAmountsIncludedInIsoOrRtoSettlementAbstract
Amounts Included in ISO/RTO Settlement Statements
30
ScheduleEnergyStorageOperationsSmallPlantsAbstract
Energy Storage Operations (Small Plants)
419
SubstitutePagesForNonmajorRespondentsUsingAccountsDesignatedForMajorClassificationAbstract
SUBSTITUTE PAGES FOR NONMAJOR RESPONDENTS USING ACCOUNTS DESIGNATED FOR MAJOR CLASSIFICATION (Part 101)
III
ScheduleComparativeBalanceSheetAbstract
Comparative Balance Sheet (110-113)
IV
ScheduleStatementOfIncomeAbstract
Statement of Income for the Year (114-117)
V
ScheduleRetainedEarningsAbstract
Statement of Retained Earnings for the Year (118-119)
XX
ScheduleSummaryOfUtilityPlantAndAccumulatedProvisionsForDepreciationAmortizationAndDepletionAbstract
Summary of Utility Plant and Accumulated Provisions for Depreciation, Amortization and Depletion (200-201, 204-207)
XII
ScheduleAccumulatedProvisionForDepreciationOfElectricUtilityPlantAbstract
Accumulated Provision for Depreciation of Electric Utility Plant (219)
XVI
ScheduleElectricOperatingRevenuesAbstract
Electric Operating Revenues (300-301)
XVIII
ScheduleSalesForResaleAbstract
Sales for Resale (310-311)
XVII
ScheduleElectricOperationsAndMaintenanceExpensesAbstract
Electric Operation and Maintenance Expenses (320-323)
XIX
SchedulePurchasedPowerAbstract
Purchased Power (326-327)


PART I: IDENTIFICATION
01 Exact Legal Name of Respondent

Nantucket Electric Company
02 Year of Report


End of:
2018
/
Q4
03 Previous Name and Date of Change (If name changed during year)

N/A
/
2017-05-05
04 Address of Principal Business Office at End of Year (Street, City, State, Zip Code)

40 Sylvan Road, Waltham, MA 02451
05 Name of Contact Person

Donald Albers
06 Title of Contact Person

Asst Director
07 Address of Contact Person (Street, City, State, Zip Code)

One Metrotech Center, Brooklyn, NY 11201
08 Telephone of Contact Person, Including Area Code

(929) 324-4785
09 This Report is An Original / A Resubmission

(1)
An Original

(2)
A Resubmission
10 Date of Report (Mo, Da, Yr)

03/29/2019
11 Name of Officer Having Custody of the Books of Account

Christopher Mccusker
12 Title of Officer

VP, NE Controller
13 Address of Officer Where Books of Account Are Kept (Street, City, State, Zip Code)

One Metrotech Center, Brooklyn, NY 11201
14 Name of State Where Respondent Is Incorporated

MA
15 Date of Incorporation (Mo, Da, Yr)

1905-04-12
16 If applicable, Reference to Law Incorporated Under

GL 15613
17 Explanation of Manner and Extent of Corporate Control (If the respondent controls or is controlled by any other corporation, business trust, or similar organization)

N/A


PART II: ANNUAL REPORT CORPORATE OFFICER CERTIFICATION
The undersigned officer certifies that:

I have examined this report and to the best of my knowledge, information, and belief all statements of fact contained in this report are correct statements of the business affairs of the respondent and the financial statements and other financial information contained in this report, conform in all material respects to the Uniform System of Accounts.

Line No.
Name of Certifying Official
Signature
Title
Date
1
Christopher Mccusker
CYL
VP, NE Controller
2019-03-29
Title 18, U.S.C. 1001 makes it a crime for any person to knowingly and willingly to make to any Agency or Department of the United States any false, fictitious or fraudulent statements as to any matter within its jurisdiction.


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
COMPARATIVE BALANCE SHEET (ASSETS AND OTHER DEBITS)
Line No.
Title of Account
(a)
Ref. Page No.
(b)
Current Year End of Quarter/Year Balance
(c)
Prior Year End Balance 12/31
(d)
1
UtilityPlantAbstract
UTILITY PLANT
2
UtilityPlant
Utility Plant (101-106, 114)
200
140,626,099
138,013,840
3
ConstructionWorkInProgress
Construction Work in Progress (107)
200
3,709,611
2,170,419
4
UtilityPlantAndConstructionWorkInProgress
TOTAL Utility Plant (Enter Total of lines 2 and 3)
144,335,710
140,184,259
5
AccumulatedProvisionForDepreciationAmortizationAndDepletionOfPlantUtility
(Less) Accum. Prov. for Depr. Amort. Depl. (108, 110, 111, 115)
200
55,256,295
53,556,062
6
UtilityPlantNet
Net Utility Plant (Enter Total of line 4 less 5)
89,079,415
86,628,197
7
NuclearFuelInProcessOfRefinementConversionEnrichmentAndFabrication
Nuclear Fuel in Process of Ref., Conv., Enrich., and Fab. (120.1)
202
100
200
8
NuclearFuelMaterialsAndAssembliesStockAccountMajorOnly
Nuclear Fuel Materials and Assemblies-Stock Account (120.2)
300
400
9
NuclearFuelAssembliesInReactorMajorOnly
Nuclear Fuel Assemblies in Reactor (120.3)
500
600
10
SpentNuclearFuelMajorOnly
Spent Nuclear Fuel (120.4)
700
800
11
NuclearFuelUnderCapitalLeases
Nuclear Fuel Under Capital Leases (120.6)
900
1,000
12
AccumulatedProvisionForAmortizationOfNuclearFuelAssemblies
(Less) Accum. Prov. for Amort. of Nucl. Fuel Assemblies (120.5)
202
1,100
1,200
13
NuclearFuelNet
Net Nuclear Fuel (Enter Total of lines 7-11 less 12)
1,400
1,800
14
UtilityPlantAndNuclearFuelNet
Net Utility Plant (Enter Total of lines 6 and 13)
89,080,815
86,629,997
15
OtherElectricPlantAdjustments
Utility Plant Adjustments (116)
1,400
1,400
16
GasStoredUndergroundNoncurrent
Gas Stored Underground - Noncurrent (117)
1,400
1,600
17
OtherPropertyAndInvestmentsAbstract
OTHER PROPERTY AND INVESTMENTS
18
NonutilityProperty
Nonutility Property (121)
290,808
290,808
19
AccumulatedProvisionForDepreciationAndAmortizationOfNonutilityProperty
(Less) Accum. Prov. for Depr. and Amort. (122)
226,629
222,233
20
InvestmentInAssociatedCompanies
Investments in Associated Companies (123)
1,700
1,800
21
InvestmentInSubsidiaryCompanies
Investment in Subsidiary Companies (123.1)
224
1,900
2,000
23
NoncurrentPortionOfAllowances
Noncurrent Portion of Allowances
228
6,100
6,200
24
OtherInvestments
Other Investments (124)
2,300
2,400
25
SinkingFunds
Sinking Funds (125)
2,500
2,600
26
DepreciationFund
Depreciation Fund (126)
2,800
2,800
27
AmortizationFundFederal
Amortization Fund - Federal (127)
2,900
3,000
28
OtherSpecialFunds
Other Special Funds (128)
1,089,365
1,084,987
29
SpecialFunds
Special Funds (Non Major Only) (129)
3,100
3,200
30
DerivativeInstrumentAssetsLongTerm
Long-Term Portion of Derivative Assets (175)
7,400
7,500
31
DerivativeInstrumentAssetsHedgesLongTerm
Long-Term Portion of Derivative Assets - Hedges (176)
3,700
7,900
32
OtherPropertyAndInvestments
TOTAL Other Property and Investments (Lines 18-21 and 23-31)
1,187,944
1,192,962
33
CurrentAndAccruedAssetsAbstract
CURRENT AND ACCRUED ASSETS
34
CashAndWorkingFunds
Cash and Working Funds (Non-major Only) (130)
3,700
3,800
35
Cash
Cash (131)
30,798
111,584
36
SpecialDeposits
Special Deposits (132-134)
3,900
4,000
37
WorkingFunds
Working Fund (135)
4,100
4,200
38
TemporaryCashInvestments
Temporary Cash Investments (136)
4,300
4,400
39
NotesReceivable
Notes Receivable (141)
4,500
4,600
40
CustomerAccountsReceivable
Customer Accounts Receivable (142)
2,506,681
2,159,883
41
OtherAccountsReceivable
Other Accounts Receivable (143)
26,282
33,696
42
AccumulatedProvisionForUncollectibleAccountsCredit
(Less) Accum. Prov. for Uncollectible Acct.-Credit (144)
124,483
179,960
43
NotesReceivableFromAssociatedCompanies
Notes Receivable from Associated Companies (145)
53,797,426
66,494,347
44
AccountsReceivableFromAssociatedCompanies
Accounts Receivable from Assoc. Companies (146)
17,993,466
14,642,028
45
FuelStock
Fuel Stock (151)
227
4,700
4,800
46
FuelStockExpensesUndistributed
Fuel Stock Expenses Undistributed (152)
227
4,900
5,000
47
Residuals
Residuals (Elec) and Extracted Products (153)
227
5,100
5,200
48
PlantMaterialsAndOperatingSupplies
Plant Materials and Operating Supplies (154)
227
191,874
151,346
49
Merchandise
Merchandise (155)
227
5,300
5,400
50
OtherMaterialsAndSupplies
Other Materials and Supplies (156)
227
5,500
5,600
51
NuclearMaterialsHeldForSale
Nuclear Materials Held for Sale (157)
202/227
5,700
5,800
52
AllowanceInventoryAndWithheld
Allowances (158.1 and 158.2)
228
5,900
6,000
53
NoncurrentPortionOfAllowances
(Less) Noncurrent Portion of Allowances
228
6,100
6,200
54
StoresExpenseUndistributed
Stores Expense Undistributed (163)
227
6,300
6,400
55
GasStoredCurrent
Gas Stored Underground - Current (164.1)
6,500
6,600
56
LiquefiedNaturalGasStoredAndHeldForProcessing
Liquefied Natural Gas Stored and Held for Processing (164.2-164.3)
6,700
6,800
57
Prepayments
Prepayments (165)
67,603
1,337
58
AdvancesForGas
Advances for Gas (166-167)
6,900
7,000
59
InterestAndDividendsReceivable
Interest and Dividends Receivable (171)
6,367
6,367
60
RentsReceivable
Rents Receivable (172)
85,017
102,099
61
AccruedUtilityRevenues
Accrued Utility Revenues (173)
1,053,686
1,064,137
62
MiscellaneousCurrentAndAccruedAssets
Miscellaneous Current and Accrued Assets (174)
7,100
209
63
DerivativeInstrumentAssets
Derivative Instrument Assets (175)
7,200
7,300
64
DerivativeInstrumentAssetsLongTerm
(Less) Long-Term Portion of Derivative Instrument Assets (175)
7,400
7,500
65
DerivativeInstrumentAssetsHedges
Derivative Instrument Assets - Hedges (176)
7,600
7,700
66
DerivativeInstrumentAssetsHedgesLongTerm
(Less) Long-Term Portion of Derivative Instrument Assets - Hedges (176)
3,700
7,900
67
CurrentAndAccruedAssets
Total Current and Accrued Assets (Lines 34 through 66)
75,723,417
84,666,073
68
DeferredDebitsAbstract
DEFERRED DEBITS
69
UnamortizedDebtExpense
Unamortized Debt Expenses (181)
854,578
804,206
70
ExtraordinaryPropertyLosses
Extraordinary Property Losses (182.1)
230a
8,000
8,100
71
UnrecoveredPlantAndRegulatoryStudyCosts
Unrecovered Plant and Regulatory Study Costs (182.2)
230b
8,200
8,300
72
OtherRegulatoryAssets
Other Regulatory Assets (182.3)
232
4,691,421
5,406,122
73
PreliminarySurveyAndInvestigationCharges
Prelim. Survey and Investigation Charges (Electric) (183)
10
10
74
PreliminaryNaturalGasSurveyAndInvestigationChargesAndOtherPreliminarySurveyAndInvestigationCharges
Preliminary Natural Gas Survey and Investigation Charges 183.1)
10
10
75
OtherPreliminarySurveyAndInvestigationCharges
Other Preliminary Survey and Investigation Charges (183.2)
10
10
76
ClearingAccounts
Clearing Accounts (184)
7,647
7,647
77
TemporaryFacilities
Temporary Facilities (185)
10
10
78
MiscellaneousDeferredDebits
Miscellaneous Deferred Debits (186)
233
21,522
18,191
79
DeferredLossesFromDispositionOfUtilityPlant
Def. Losses from Disposition of Utility Plt. (187)
10
10
80
ResearchDevelopmentAndDemonstrationExpenditures
Research, Devel. and Demonstration Expend. (188)
352
10
10
81
UnamortizedLossOnReacquiredDebt
Unamortized Loss on Reaquired Debt (189)
10
10
82
AccumulatedDeferredIncomeTaxes
Accumulated Deferred Income Taxes (190)
234
10,582,715
9,817,470
83
UnrecoveredPurchasedGasCosts
Unrecovered Purchased Gas Costs (191)
10
10
84
DeferredDebits
Total Deferred Debits (lines 69 through 83)
16,174,163
16,070,116
85
AssetsAndOtherDebits
TOTAL ASSETS (lines 14-16, 32, 67, and 84)
182,169,139
188,562,148


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
COMPARATIVE BALANCE SHEET (LIABILITIES AND OTHER CREDITS)
Line No.
Title of Account
(a)
Ref. Page No.
(b)
Current Year End of Quarter/Year Balance
(c)
Prior Year End Balance 12/31
(d)
1
ProprietaryCapitalAbstract
PROPRIETARY CAPITAL
2
CommonStockIssued
Common Stock Issued (201)
250
10
20
3
PreferredStockIssued
Preferred Stock Issued (204)
250
30
40
4
CapitalStockSubscribed
Capital Stock Subscribed (202, 205)
50
60
5
StockLiabilityForConversion
Stock Liability for Conversion (203, 206)
70
80
6
PremiumOnCapitalStock
Premium on Capital Stock (207)
90
100
7
OtherPaidInCapital
Other Paid-In Capital (208-211)
253
30,516,930
29,637,098
8
InstallmentsReceivedOnCapitalStock
Installments Received on Capital Stock (212)
252
110
120
9
DiscountOnCapitalStock
(Less) Discount on Capital Stock (213)
254
130
140
10
CapitalStockExpense
(Less) Capital Stock Expense (214)
254b
150
160
11
RetainedEarnings
Retained Earnings (215, 215.1, 216)
118
36,165,286
31,435,847
12
UnappropriatedUndistributedSubsidiaryEarnings
Unappropriated Undistributed Subsidiary Earnings (216.1)
118
170
180
13
ReacquiredCapitalStock
(Less) Reaquired Capital Stock (217)
250
190
200
14
NoncorporateProprietorship
Noncorporate Proprietorship (Non-major only) (218)
210
220
15
AccumulatedOtherComprehensiveIncome
Accumulated Other Comprehensive Income (219)
122(a)(b)
89,055
125,890
16
ProprietaryCapital
Total Proprietary Capital (lines 2 through 15)
66,771,541
61,199,155
17
LongTermDebtAbstract
LONG-TERM DEBT
18
Bonds
Bonds (221)
256
51,300,000
51,300,000
19
ReacquiredBonds
(Less) Reaquired Bonds (222)
256
230
240
20
AdvancesFromAssociatedCompanies
Advances from Associated Companies (223)
256
250
260
21
OtherLongTermDebt
Other Long-Term Debt (224)
256
270
280
22
UnamortizedPremiumOnLongTermDebt
Unamortized Premium on Long-Term Debt (225)
290
300
23
UnamortizedDiscountOnLongTermDebtDebit
(Less) Unamortized Discount on Long-Term Debt-Debit (226)
310
320
24
LongTermDebt
Total Long-Term Debt (lines 18 through 23)
51,300,270
51,300,280
25
OtherNoncurrentLiabilitiesAbstract
OTHER NONCURRENT LIABILITIES
26
ObligationsUnderCapitalLeaseNoncurrent
Obligations Under Capital Leases - Noncurrent (227)
330
340
27
AccumulatedProvisionForPropertyInsurance
Accumulated Provision for Property Insurance (228.1)
350
360
28
AccumulatedProvisionForInjuriesAndDamages
Accumulated Provision for Injuries and Damages (228.2)
33,445
36,142
29
AccumulatedProvisionForPensionsAndBenefits
Accumulated Provision for Pensions and Benefits (228.3)
5,255,709
4,936,224
30
AccumulatedMiscellaneousOperatingProvisions
Accumulated Miscellaneous Operating Provisions (228.4)
370
380
31
AccumulatedProvisionForRateRefunds
Accumulated Provision for Rate Refunds (229)
390
400
32
LongTermPortionOfDerivativeInstrumentLiabilities
Long-Term Portion of Derivative Instrument Liabilities
600
610
33
LongTermPortionOfDerivativeInstrumentLiabilitiesHedges
Long-Term Portion of Derivative Instrument Liabilities - Hedges
640
650
34
AssetRetirementObligations
Asset Retirement Obligations (230)
7,090
6,974
35
OtherNoncurrentLiabilities
Total Other Noncurrent Liabilities (lines 26 through 34)
5,298,924
4,982,080
36
CurrentAndAccruedLiabilitiesAbstract
CURRENT AND ACCRUED LIABILITIES
37
NotesPayable
Notes Payable (231)
450
460
38
AccountsPayable
Accounts Payable (232)
2,314,244
1,773,544
39
NotesPayableToAssociatedCompanies
Notes Payable to Associated Companies (233)
470
480
40
AccountsPayableToAssociatedCompanies
Accounts Payable to Associated Companies (234)
7,384,473
21,506,985
41
CustomerDeposits
Customer Deposits (235)
118,506
174,987
42
TaxesAccrued
Taxes Accrued (236)
262
2,441,262
2,880,350
43
InterestAccrued
Interest Accrued (237)
31,586
43,940
44
DividendsDeclared
Dividends Declared (238)
490
500
45
MaturedLongTermDebt
Matured Long-Term Debt (239)
520
530
46
MaturedInterest
Matured Interest (240)
540
550
47
TaxCollectionsPayable
Tax Collections Payable (241)
1,316
2,592
48
MiscellaneousCurrentAndAccruedLiabilities
Miscellaneous Current and Accrued Liabilities (242)
508,422
454,553
49
ObligationsUnderCapitalLeasesCurrent
Obligations Under Capital Leases-Current (243)
560
570
50
DerivativesInstrumentLiabilities
Derivative Instrument Liabilities (244)
580
590
51
LongTermPortionOfDerivativeInstrumentLiabilities
(Less) Long-Term Portion of Derivative Instrument Liabilities
600
610
52
DerivativeInstrumentLiabilitiesHedges
Derivative Instrument Liabilities - Hedges (245)
620
630
53
LongTermPortionOfDerivativeInstrumentLiabilitiesHedges
(Less) Long-Term Portion of Derivative Instrument Liabilities-Hedges
640
650
54
CurrentAndAccruedLiabilities
Total Current and Accrued Liabilities (lines 37 through 53)
12,802,799
26,840,001
55
DeferredCreditsAbstract
DEFERRED CREDITS
56
CustomerAdvancesForConstruction
Customer Advances for Construction (252)
135,093
133,705
57
AccumulatedDeferredInvestmentTaxCredits
Accumulated Deferred Investment Tax Credits (255)
266
680
690
58
DeferredGainsFromDispositionOfUtilityPlant
Deferred Gains from Disposition of Utility Plant (256)
700
710
59
OtherDeferredCredits
Other Deferred Credits (253)
269
464,936
358,722
60
OtherRegulatoryLiabilities
Other Regulatory Liabilities (254)
278
29,350,204
28,059,100
61
UnamortizedGainOnReacquiredDebt
Unamortized Gain on Reaquired Debt (257)
720
730
62
AccumulatedDeferredIncomeTaxesAcceleratedAmortizationProperty
Accum. Deferred Income Taxes-Accel. Amort.(281)
272
740
750
63
AccumulatedDeferredIncomeTaxesOtherProperty
Accum. Deferred Income Taxes-Other Property (282)
14,566,069
14,335,548
64
AccumulatedDeferredIncomeTaxesOther
Accum. Deferred Income Taxes-Other (283)
1,476,463
1,350,677
65
DeferredCredits
Total Deferred Credits (lines 56 through 64)
45,995,605
44,240,632
66
LiabilitiesAndOtherCredits
TOTAL LIABILITIES AND STOCKHOLDER EQUITY (lines 16, 24, 35, 54 and 65)
182,169,139
188,562,148


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
PART IV: STATEMENT OF INCOME FOR THE YEAR
  1. Report amounts for accounts 412 and 413, Revenues and expenses from Utility Plant Leased to Others, in the Other Utility column (h, I or j, k) in a similar manner to a utility department. Spread the amount(s) over lines 01 to 22 as appropriate. Include these amounts in column (b) and (c) totals.
  2. Report amounts for account 414, Other Utility Operating Income, in the same manner as accounts 412 and 413.
  3. Provide an explanation in Part VII. Notes to Financial Statements, of such unsettled rate proceedings where a contingency exists that refunds of a material amount may need to be made to the utility's customers or which may result in a material refund to the utility with respect to power or gas purchases. State for each year affected the gross revenues or costs to which the contingency relates and the tax effects; include an explanation for the major factors which affect the rights of the utility to retain such revenues or to recover amounts paid with respect to power or gas purchases.
  4. Provide an explanation in Part VII, Notes to Financial Statements, of significant amounts of any refunds made or received during the year resulting from settlement of any rate proceeding affecting revenued received for costs incurred for power or gas purchases and a summary of the adjustment made to balance sheet, income, and expense accounts.
  5. If any note appearing in the report to stockholders are applicable to the statement of income, either include such note in an attachment, or enter such data in Part VII.
  6. Provide an explanation in Part VII, Notes to Financial Statements of only those changes in account methods made during the year which had an effect on net income, including the basis of allocations and apportionments from those used in the preceding year. Also, give the approximate dollar effects of such changes.
Total (d to k) Electric Utility Gas Utility Other Utility
Line No.
Account
(a)
Total Current Year to Date Balance for Quarter/Year
(b)
Total Prior Year to Date Balance for Quarter/Year
(c)
Total Current Year to Date Balance for Quarter/Year
(d)
Total Prior Year to Date Balance for Quarter/Year
(e)
Total Current Year to Date Balance for Quarter/Year
(f)
Total Prior Year to Date Balance for Quarter/Year
(g)
Total Current Year to Date Balance for Quarter/Year
(h)
Total Prior Year to Date Balance for Quarter/Year
(i)
Account
(j)
1
UtilityOperatingIncomeAbstract
UTILITY OPERATING INCOME
2
OperatingRevenues
Operating Revenues (400)
21,824,605
23,933,927
21,669,605
23,813,927
5,000
100,000
150,000
20,000
3
OperatingExpensesAbstract
Operating Expenses
4
OperationExpense
Operating Expenses (401)
10,956,172
12,398,480
10,956,112
12,398,410
25
30
35
40
5
MaintenanceExpense
Maintenance Expenses (402)
1,093,279
1,645,505
1,093,179
1,645,395
45
50
55
60
6
DepreciationExpense
Depreciation Expense (403)
2,593,592
2,544,255
2,593,452
2,544,105
65
70
75
80
7
DepreciationExpenseForAssetRetirementCosts
Depreciation Expense for Asset Retirement Costs (403.1)
1,000
1,010
820
820
85
90
95
100
8
AmortizationAbstract
Amortization Expense (Specify by account)
AmortizationExpense
Amorization Expense
1,040
1,050
780
780
125
130
135
140
10
RegulatoryDebits
Regulatory Debits (407.3)
1,060
1,070
760
760
145
150
155
160
11
RegulatoryCredits
(Less) Regulatory Credits (407.4)
1,070
1,080
730
730
165
170
175
180
12
TaxesOtherThanIncomeTaxesUtilityOperatingIncome
Taxes Other Than Income Taxes (408.1)
1,080
1,090
700
700
185
190
195
200
13
IncomeTaxesOperatingIncome
Federal Income Taxes (409.1)
557,288
1,100
556,858
660
210
215
220
225
14
IncomeTaxesUtilityOperatingIncomeOther
Other Income Taxes (409.1)
266,215
616,386
265,745
615,906
230
235
240
245
15
ProvisionsForDeferredIncomeTaxesUtilityOperatingIncome
Provision for Deferred Income Taxes (410.1)
1,150
1,291,946
640
1,291,426
250
255
260
265
16
ProvisionForDeferredIncomeTaxesCreditOperatingIncome
Provision for Deferred Income Taxes Credit (411.1)
1,170
428,759
620
428,199
270
275
280
285
17
InvestmentTaxCreditAdjustments
Investment Tax Credit Adjustments - Net (411.4)
1,185
344,927
595
344,327
290
295
300
305
18
GainsFromDispositionOfPlant
Gains from Disposition of Utility Plant (411.6)
2,075
1,160
1,445
520
310
315
320
325
19
LossesFromDispositionOfServiceCompanyPlant
Losses from Disposition of Utility Plant (411.7)
2,000
1,180
1,330
500
330
335
340
345
20
GainsFromDispositionOfAllowances
Gains from Disposition of Allowances (411.8)
2,020
1,195
1,310
475
350
355
360
365
21
LossesFromDispositionOfAllowances
Losses from Disposition of Allowances (411.9)
2,040
861,436
1,290
860,676
370
375
380
385
22
AccretionExpense
Accretion Expense (411.10)
2,040
3,668
1,250
2,868
390
395
400
405
23
UtilityOperatingExpenses
TOTAL UTILITY OPERATING EXPENSES (Enter Total of lines 4 thru 22)
15,472,806
19,280,909
15,469,406
19,277,409
1,650
1,700
1,750
1,800
24
NetUtilityOperatingIncome
Net Utility Operating Income (Enter total of line 02 less 23)
6,351,799
4,653,018
6,200,199
4,536,518
3,350
98,300
148,250
18,200
25
OtherIncomeAndDeductionsAbstract
OTHER INCOME AND DEDUCTIONS
26
OtherIncomeAbstract
Other Income:
27
NonUtilityOperatingIncome
Nonutilty Operating Income (415-418.1)
2,095
2,105
28
InterestAndDividendIncome
Interest and Dividend Income (419)
1,487,137
857,030
29
AllowanceForOtherFundsUsedDuringConstruction
Allowance for Other Funds Used During Construction (419.1)
115,338
39,940
30
MiscellaneousNonoperatingIncome
Miscellaneous Nonoperating Income (421)
38,146
23,640
31
GainOnDispositionOfProperty
Gain on Disposition of Property (421.1)
4,824
4,834
32
OtherIncome
TOTAL OTHER INCOME (Enter Total of lines 27 thru 31)
1,647,540
927,549
33
OtherIncomeDeductionsAbstract
Other Income Deductions:
34
LossOnDispositionOfProperty
Loss on Disposition of Property (421.2)
2,000
5,000
35
MiscellaneousAmortization
Miscellaneous Amortization (425)
2,185
2,195
36
MiscellaneousIncomeDeductions
Miscellaneous Income Deductions (426.1 - 426.5)
109,472
153,155
37
OtherIncomeDeductions
TOTAL Other Income Deductions (Total of lines 34 thru 36)
113,657
160,350
38
TaxesApplicableToOtherIncomeAndDeductionsAbstract
Taxes Applicable to Other Income and Deductions:
39
TaxesOtherThanIncomeTaxesOtherIncomeAndDeductions
Taxes Other Than Income Taxes (408.2)
3,115
3,125
40
IncomeTaxesFederal
Federal Income Taxes (409.2)
240,357
278,296
41
IncomeTaxesOther
Other Income Taxes (409.2)
105,251
84,162
42
ProvisionForDeferredIncomeTaxesOtherIncomeAndDeductions
Provision for Deferred Income Taxes (410.2)
52,332
13,264
43
ProvisionForDeferredIncomeTaxesCreditOtherIncomeAndDeductions
Provision for Deferred Income (411.2)
3,120
3,130
44
InvestmentTaxCreditAdjustmentsNonutilityOperations
Investment Tax Credit Adjustments - Net (411.5)
3,125
3,135
45
InvestmentTaxCredits
Investment Tax Credits (420)
31,335
31,345
46
TaxesOnOtherIncomeAndDeductions
TOTAL TAXES APPLICABLE TO OTHER INCOME AND DEDUCTIONS (Enter total of lines 39 thru 45)
369,725
347,507
47
NetOtherIncomeAndDeductions
Net Other Income and Deductions (Enter total of line 32 less 37 and 46)
1,164,158
419,692
48
InterestChargesAbstract
INTEREST CHARGES
49
InterestOnLongTermDebt
Interest on Long-Term Debt (427)
518,223
525,754
50
AmortizationOfDebtDiscountAndExpense
Amortization of Debt Discount and Expense (428)
112,732
119,692
51
AmortizationOfLossOnReacquiredDebt
Amortization of Loss on Reaquired Debt (428.1)
1,514,294
11,254
52
AmortizationOfPremiumOnDebtCredit
Amortization of Premium on Debt - Credit (429)
10
3,175
53
AmortizationOfGainOnReacquiredDebtCredit
Amortization of Gain on Reaquired Debt - Credit (429.1)
61,124
239,795
54
InterestOnDebtToAssociatedCompanies
Interest on Debt to Associated Companies (430)
3,160
3,170
55
OtherInterestExpense
Other Interest Expense (431)
261,494
382,246
56
AllowanceForBorrowedFundsUsedDuringConstructionCredit
Allowance for Borrowed Funds Used During Construction - Credit (432)
16,547
6,037
57
NetInterestCharges
Net Interest Charge (Enter total of lines 49 thru 56)
2,332,222
793,109
58
IncomeBeforeExtraordinaryItems
Income Before Extraordinary Items (Enter total of lines 24 and 47, less 57)
5,183,735
4,279,601
59
ExtraordinaryItemsAbstract
EXTRAORDINARY ITEMS
60
ExtraordinaryIncome
Extraordinary Income (434)
200,005
3,190
61
ExtraordinaryDeductions
Extraordinary Deductions (435)
638,201
3,195
62
NetExtraordinaryItems
Net Extraordinary Items (Enter total of line 60 less 61)
438,196
5
63
IncomeTaxesExtraordinaryItems
Income Taxes - Federal and Other (409.3)
3,190
65,890
64
ExtraordinaryItemsAfterTaxes
Extraordinary Items After Taxes (Enter total of line 62 less 63)
441,386
65,895
65
NetIncomeLoss
Net Income (Enter total of lines 58 and 64)
4,742,349
4,213,706


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report


End of:
2018
/
Q4
PART V: STATEMENT OF RETAINED EARNINGS
  1. Report on this part all changes in appropriated and unappropriated retained earnings for the year.
  2. Identify each credit and debit made during the year by identifying the retained earnings account in which the credit and debit is recorded (accounts 433 , 436-439 inclusive). Also, identify the contra primary account affected. First list account 439, Adjustments to Retained Earnings, reflecting adjustments to the opening balance of retained earnings. Follow the adjustments by credit then debit items, in that order.
  3. Report dividends for each class and series of capital stock. Show amounts of dividends per share.
  4. Report separately in column (a) the state and federal income tax effect of items shown in account 439, Adjustments to Retained Earnings.
  5. Explain in a footnote, the basis for determining the amount reserved or appropriated. If such reservation or appropriation is to be recurrent, state the number and annual amounts to be reserved or appropriated as well as the totals eventually to be accumulated.
  6. If any notes appearing in the report to stockholders are applicable to this statement, either include such notes in an attachment or enter such data in Part Vii. Notes to Financial Statements.
  7. Enter on line 20 the total amount set aside through appropriations of retained earnings, as of the end of the year, in compliance with the provisions of federally granted hydroelectric project licenses held by the respondent. If any reductions or changes other than the normal annual credits hereto have been made during the year, explain such items in a footnote.
Line No.
Item
(a)
Contra Primary Account Affected
(b)
Amount
(c)
UnappropriatedRetainedEarningsAbstract
UNAPPROPRIATED RETAINED EARNINGS (216)
1
UnappropriatedRetainedEarnings
Balance Beginning of Year
31,435,847
2
AdjustmentsToRetainedEarningsAbstract
Adjustments to Retained Earnings (Account 439)
3
AdjustmentsToRetainedEarningsCreditAbstract
Adjustments to Retained Earnings Credit
3.1
AdjustmentsToRetainedEarningsCreditContraPrimaryAccountAffected
Adjustment 1
10,000,000
4
AdjustmentsToRetainedEarningsCredit
Total Adjustments to Retained Earnings Credit
5
AdjustmentsToRetainedEarningsDebitAbstract
Adjustments to Retained Earnings Debit
5.1
AdjustmentsToRetainedEarningsDebitContraPrimaryAccountAffected
Adjustment 2
10,000,000
6
AdjustmentsToRetainedEarningsDebit
Total Adjustments to Retained Earnings Debit
7
BalanceTransferredFromIncome
Balance Transferred from Income (Account 433)
4,742,349
8
AppropriationsOfRetainedEarningsAbstract
Appropriations of Retained Earnings (Acct. 436)
8.1
AppropriationsOfRetainedEarningsContraPrimaryAccountAffected
Adjustment 1
10,000,000
8.2
AppropriationsOfRetainedEarningsContraPrimaryAccountAffected
Adjustment 2
10,000,000
9
AppropriationsOfRetainedEarnings
Total Appropriations of Retained Earnings
10
DividendsDeclaredPreferredStockAbstract
Dividends Declared - Preferred Stock (Account 437)
11
DividendsDeclaredPreferredStock
Dividends Declared - Preferred Stock
12
DividendsDeclaredCommonStockAbstract
Dividends Declared - Common Stock (Account 438)
12.1
DividendsDeclaredCommonStockContraPrimaryAccountAffected
Common stock dividends
12,910
13
DividendsDeclaredCommonStock
Dividends Declared - Common Stock
12,910
14
UnappropriatedRetainedEarnings
Balance at End of Year (Enter total of lines 01 thru 13)
36,165,286
15
AppropriatedRetainedEarningsAbstract
APPROPRIATED RETAINED EARNINGS (215) State below balance and purpose of each reserved and appropriated retained earnings (amount) at end of year. Give accounting entries for any applications of retained earnings during the year.
19
AppropriatedRetainedEarnings
TOTAL APPROPRIATED RETAINED YEARS (Enter total of lines 15 thru 18)
0
20
AppropriatedRetainedEarningsAmortizationReserveFederal
TOTAL APPROPRIATED RETAINED YEARS - AMORTIZATION RESERVE, FEDERAL (215.1)
0
21
AppropriatedRetainedEarningsIncludingReserveAmortization
TOTAL APPROPRIATED RETAINED YEARS (215, 215.1) (Enter total of lines 19 and 20)
0
22
RetainedEarnings
TOTAL APPROPRIATED RETAINED YEARS (215, 215.1, 216) (Enter total of lines 14 and 21)
36,165,286


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

2019-03-29
Year/Period of Report


End of:
2018
/
Q4
PART VI: STATEMENT OF CASH FLOWS
  1. If the notes to the cash flow statement in the respondents annual stockholders report are applicable to this statement, such notes should be attached to page 13. Information about noncash investing and financing activities should be provided on page 13. Provide also on page 13 a reconciliation between "Cash and Cash Equivalents at End of Year" with related amounts on the balance sheet.
  2. Under "Other" specify significant amounts and group others.
  3. Operating Activities-Other: Include gains and losses pertaining to operating activities only. Gains and losses pertaining to investing and financing activities should be reported in those activities. Show on page 13 the amounts of interest paid (net of amounts capitalized) and income taxes paid.
  4. Investing Activities: Include at Other (line 31) net cash outflow to acquire other companies. Provide a reconciliation of assets acquired with liabilities assumed in the Notes to the Financial Statements. Do not include on this statement the dollar amount of leases capitalized per the USofA General Instruction 20; instead provide a reconciliation of the dollar amount of leases capitalized with the plant cost.
  5. Codes used: (a) Net proceeds or payments. (b) Bonds, debentures and other long-term debt. (c) Include commercial paper. (d) Identify separately such items as investments, fixed assets, intangibles, etc.
  6. Enter on page 13 clarifications and explanations.
Line No.
Description (See Instructions for Explanation of Codes)
(a)
Current Year Amount
(b)
Previous Year Amount
(c)
1
NetCashFlowFromOperatingActivitiesAbstract
Net Cash Flow from Operating Activities:
2
NetIncomeLoss
Net Income (Line 65(b) on page 8)
4,742,349
4,213,706
3
NoncashChargesCreditsToIncomeAbstract
Noncash Charges (Credits) to Income:
4
DepreciationAndDepletion
Depreciation and Depletion
7,076,147
6,975,406
5
NoncashAdjustmentsToCashFlowsFromOperatingActivities
Amortization of (Specify)
5.1
NoncashAdjustmentsToCashFlowsFromOperatingActivitiesDescription
Amortization of Debt Discount and Expense
19,986
47,178
8
DeferredIncomeTaxesNet
Deferred Income Taxes (Net) In
10
10
9
InvestmentTaxCreditAdjustmentsNet
Investment Tax Credit Adjustments (Net)
1
1
10
NetIncreaseDecreaseInReceivablesOperatingActivities
Net (Increase) Decrease in Receivables
28,207,510
20,482,442
11
NetIncreaseDecreaseInInventoryOperatingActivities
Net (Increase) Decrease in Inventory
10,520
94,528
12
NetIncreaseDecreaseInAllowancesInventoryOperatingActivities
Net (Increase) Decrease in Allowances Inventory
30
30
13
NetIncreaseDecreaseInPayablesAndAccruedExpensesOperatingActivities
Net Increase (Decrease) in Payables and Accrued Expenses
6,644,522
10,632,857
14
NetIncreaseDecreaseInOtherRegulatoryAssetsOperatingActivities
Net (Increase) Decrease in Other Regulatory Assets
15
15
15
NetIncreaseDecreaseInOtherRegulatoryLiabilitiesOperatingActivities
Net Increase (Decrease) in Other Regulatory Liabilities
20
20
16
AllowanceForOtherFundsUsedDuringConstructionOperatingActivities
(Less) Allowance for Other Funds Used During Construction
25
25
17
UndistributedEarningsFromSubsidiaryCompaniesOperatingActivities
(Less) Undistributed Earnings from Subsidiary Companies
5
5
18
OtherAdjustmentsToCashFlowsFromOperatingActivities
Other:
18.1
OtherAdjustmentsToCashFlowsFromOperatingActivitiesDescription
Net (Increase) Decrease in Deferred Charges
171,203,453
24,915,904
18.2
OtherAdjustmentsToCashFlowsFromOperatingActivitiesDescription
Net Increase (Decrease) in Other Noncurrent Liabilities
981,270
776,273
22
NetCashFlowFromOperatingActivities
Net Cash Provided by (Used in) Operating Activities (Total of Lines 2 thru 21)
149,160,609
4,355,106
24
CashFlowsFromInvestmentActivitiesAbstract
Cash Flows from Investment Activities:
25
ConstructionAndAcquisitionOfPlantIncludingLandAbstract
Construction and Acquisition of Plant (including land):
26
GrossAdditionsToUtilityPlantLessNuclearFuelInvestingActivities
Gross Additions to Utility Plant (less nuclear fuel)
9,460,244
6,198,906
27
GrossAdditionsToNuclearFuelInvestingActivities
Gross Additions to Nuclear Fuel
10
20
28
GrossAdditionsToCommonUtilityPlantInvestingActivities
Gross Additions to Common Utility Plant
45
45
29
GrossAdditionsToNonutilityPlantInvestingActivities
Gross Additions to Nonutility Plant
55
55
30
AllowanceForOtherFundsUsedDuringConstructionInvestingActivities
(Less) Allowance for Other Funds Used During Construction
65
65
31
OtherConstructionAndAcquisitionOfPlantInvestmentActivities
Other:
31.1
OtherConstructionAndAcquisitionOfPlantInvestmentActivitiesDescription
Other
633,100
52,484
31.2
OtherConstructionAndAcquisitionOfPlantInvestmentActivitiesDescription
Cost of Removal
10
10
34
CashOutflowsForPlant
Cash Outflows for Plant (Total of lines 26 thru 33)
8,827,199
6,251,325
36
AcquisitionOfOtherNoncurrentAssets
Acquisition of Other Noncurrent Assets (d)
10
10
37
ProceedsFromDisposalOfNoncurrentAssets
Proceeds from Disposal of Noncurrent Assets (d)
10
10
39
InvestmentsInAndAdvancesToAssociatedAndSubsidiaryCompanies
Investments in and Advances to Assoc. and Subsidiary Companies
10
10
40
ContributionsAndAdvancesFromAssociatedAndSubsidiaryCompanies
Contributions and Advances from Assoc. and Subsidiary Companies
10
10
43
DispositionOfInvestmentsInAndAdvancesToAssociatedAndSubsidiaryCompanies
Disposition of Investments in (and Advances to) Associated and Subsidiary Companies
10
10
44
PurchaseOfInvestmentSecurities
Purchase of Investment Securities (a)
10
10
45
ProceedsFromSalesOfInvestmentSecurities
Proceeds from Sales of Investment Securities (a)
5
5
46
LoansMadeOrPurchased
Loans Made or Purchased
5
5
47
CollectionsOnLoans
Collections on Loans
10
10
49
NetIncreaseDecreaseInReceivablesInvestingActivities
Net (increase) Decrease in Receivables
10
10
50
NetIncreaseDecreaseInInventoryInvestingActivities
Net (increase) Decrease in Inventory
10
10
51
NetIncreaseDecreaseInAllowancesHeldForSpeculationInvestingActivities
Net (increase) Decrease in Allowances Held for Speculation
5
5
52
NetIncreaseDecreaseInPayablesAndAccruedExpensesInvestingActivities
Net Increase (Decrease) in Payables and Accrued Expenses
5
5
53
OtherAdjustmentsToCashFlowsFromInvestmentActivities
Other:
53.1
OtherAdjustmentsToCashFlowsFromInvestmentActivitiesDescription
Net Increase (Decrease) in Additional Paid in Capital
0
10
53.2
OtherAdjustmentsToCashFlowsFromInvestmentActivitiesDescription
Net (Increase) Decrease in Temporary Investments
20
10
57
CashFlowsProvidedFromUsedInInvestmentActivities
Net Cash Provided by (Used in) Investing Activities (Total of lines 34 thru 55)
8,827,179
6,251,345
59
CashFlowsFromFinancingActivitiesAbstract
Cash Flows from Financing Activities:
60
ProceedsFromIssuanceAbstract
Proceeds from Issuance of:
61
ProceedsFromIssuanceOfLongTermDebtFinancingActivities
Long-Term Debt (b)
10
10
62
ProceedsFromIssuanceOfPreferredStockFinancingActivities
Preferred Stock
10
10
63
ProceedsFromIssuanceOfCommonStockFinancingActivities
Common Stock
10
10
64
OtherAdjustmentsToCashFlowsFromFinancingActivities
Other:
64.1
OtherAdjustmentsToCashFlowsFromFinancingActivitiesDescription
Contribution from parent
10
10
64.2
OtherAdjustmentsToCashFlowsFromFinancingActivitiesDescription
Contribution from members
10
10
66
NetIncreaseInShortTermDebt
Net Increase in Short-Term Debt (c)
10
10
67
OtherAdjustmentsByOutsideSourcesToCashFlowsFromFinancingActivities
Other:
67.1
DescriptionForOtherAdjustmentsByOutsideSourcesToCashFlowsFromFinancingActivities
Short-term Debt from Affiliate - Proceeds
10
0
67.2
DescriptionForOtherAdjustmentsByOutsideSourcesToCashFlowsFromFinancingActivities
Short-term Debt from Affiliate - Payments
10
70
CashProvidedByOutsideSources
Cash Provided by Outside Sources (Total 61 thru 69)
80
60
72
PaymentsForRetirementAbstract
Payments for Retirement of:
73
PaymentsForRetirementOfLongTermDebtFinancingActivities
Long-term Debt (b)
25
26
74
PaymentsForRetirementOfPreferredStockFinancingActivities
Preferred Stock
35
45
75
PaymentsForRetirementOfCommonStockFinancingActivities
Common Stock
5
5
76
OtherRetirementsOfBalancesImpactingCashFlowsFromFinancingActivities
Other:
76.1
DescriptionOfOtherRetirementsImpactingCashFlowsFromFinancingActivities
Reversal of retirement
140,414,176
135
78
NetDecreaseInShortTermDebt
Net Decrease in Short-Term Debt (c)
5
5
80
DividendsOnPreferredStock
Dividends on Preferred Stock
50
60
81
DividendsOnCommonStock
Dividends on Common Stock
10
70
83
CashFlowsProvidedFromUsedInFinancingActivities
Net Cash Provided by (Used in) Financing Activities (Total of lines 70 thru 81)
140,414,216
126
86
NetIncreaseDecreaseInCashAndCashEquivalents
Net Increase (Decrease) in Cash and Cash Equivalents (Total of line 18, 49 and 71)
80,786
10,606,325
88
CashAndCashEquivalents
Cash and Cash Equivalents at Beginning of Year
111,584
28,232
90
CashAndCashEquivalents
Cash and Cash Equivalents at End of Year
30,798
111,584


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:


2019-03-29
Year/Period of Report


End of:
2018
/
Q4
PART VII: STATEMENT OF ACCUMULATED OTHER COMPREHENSIVE INCOME AND HEDGING ACTIVITIES
  1. Report in columns (b) (c) and (e) the amounts of accumulated other comprehensive income items, on a net-of-tax basis, where appropriate.
  2. Report in columns (f) and (g) the amounts of other categories of other cash flow hedges.
  3. For each category of hedges that have been accounted for as “fair value hedges”, report the accounts affected and the related amounts in a footnote.
Line No.
Item
(a)
Unrealized Gains and Losses on Available-For-Sale Securities
(b)
Minimum Pension Liability Adjustment (net amount)
(c)
Foreign Currency Hedges
(d)
Other Adjustments
(e)
Other Cash Flow Hedges Interest Rate Swaps
(f)
Other Cash Flow Hedges [Specify]
(g)
Totals for each category of items recorded in Account 219
(h)
Net Income (Carried Forward from Page 6, Line 65)
(i)
Total Comprehensive Income
(j)
1
Balance of Account 219 at Beginning of Preceding Year
5
5
5
5
5
125,835
125,860
2
Preceding Quarter/Year to Date Reclassifications from Account 219 to Net Income
10
10
10
10
10
10
60
3
Preceding Quarter/Year to Date Changes in Fair Value
5
5
5
5
5
5
30
4
Total (lines 2 and 3)
5
5
5
5
5
5
30
4,213,706
4,213,736
5
Balance of Account 219 at End of Preceding Quarter/Year
10
10
10
10
10
125,840
125,890
6
Balance of Account 219 at Beginning of Current Year
10
10
10
10
10
125,840
125,890
7
Current Quarter/Year to Date Reclassifications from Account 219 to Net Income
10
10
10
10
10
36,861
36,811
8
Current Quarter/Year to Date Changes in Fair Value
5
5
5
5
5
1
24
9
Total (lines 7 and 8)
5
5
5
5
5
36,860
36,835
4,742,349
4,705,514
10
Balance of Account 219 at End of Current Quarter/Year
15
15
15
15
15
88,980
89,055


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
PART VIII: NOTES TO FINANCIAL STATEMENTS
  1. Use the space below for important notes regarding the Balance Sheet, Statement of Income for the year, Statement of Retained Earnings for the year, and Statement of Cash Flows, or any account thereof. Classify the notes according to each basic statement, providing a subheading for each statement except where a note is applicable to more than one statement.
  2. Furnish particulars (details) as to any significant contingent assets or liabilities existing at end of year, including a brief explanation of any action initiated by the Internal Revenue Service involving possible assessment of additional income taxes of material amount, or of a claim for refund of income taxes of a material amount initiated by the utility. Give also a brief explanation of any dividends in arrears on cumulative preferred stock.
  3. For Account 116, Utility Plant Adjustments, explain the origin of such amount, debits and credits during the year, and plan of disposition contemplated, giving references to Commission orders or other authorizations respecting classification of amounts as plant adjustments and requirements as to disposition thereof.
  4. Where Accounts 189, Unamortized Loss on Reacquired Debt, and 257, Unamortized Gain on Reacquired Debt, are not used, give an explanation, providing the rate treatment given these items. See General Instruction 17 of the Uniform Systems of Accounts.
  5. Give a concise explanation of any retained earnings restrictions and state the amount of retained earnings affected by such restrictions.
  6. If the notes to financial statements relating to the respondent company appearing in the annual report to the. stockholders are applicable and furnish the data required by instructions above and on pages 6-11, such notes may be attached hereto.
Note 1.

Description of the Plan

The following description of the National Grid USA Companies’ Incentive Thrift Plan II (the “Plan”) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.

Plan Description

The Plan was established effective September 1, 1984, pursuant to the authorization of the Board of Directors of certain subsidiaries of the New England Electric System (“NEES”), to provide a long-range program of systematic savings for eligible employees (the “Participants”). The Plan was renamed National Grid USA Companies’ Incentive Thrift Plan II upon the merger between National Grid plc and NEES on March 22, 2000, at which time NEES was renamed National Grid USA.

Employees of participating subsidiaries of National Grid USA (collectively, the “Employers” or the “Company”) who are covered by a collective bargaining agreement, are eligible to participate in the Plan, have various Employers’ Matching Contribution (“Matching Contribution”) formulas, and are eligible for Matching Contributions as determined under the terms of the respective collective bargaining agreement for each participating union group.

The Plan was prepared in conformity with the Employee Retirement Income Security Act of 1974 (“ERISA”).

The plan administrators were changed effective May 9, 2018 from the Benefits Committee and the Investment Committee to the Retirement Plans Committee of National Grid USA Service Company, Inc. (the “Administrator”). The Board of Directors of National Grid plc has the governing authority to amend the Plan, but has delegated certain amending authority to the Board of Directors of National Grid USA Service Company, Inc. (“Service Company”).

Vanguard serves as record keeper of the Plan. The Vanguard Fiduciary Trust Company is trustee and custodian for all assets and Participant accounts with the exception of the Master Trust. Wells Fargo Bank, N.A. (“Wells Fargo”) is the Master Trustee and custodian for the assets of the Plan related to investments in the Galliard Stable Value Fund.

The Plan was amended November 2, 2017, effective January 1, 2017, to update the clarity of certain plan language in response to their IRS determination letter approval process.

The Plan was amended on December 21, 2017, effective January 1, 2015, to confirm that, effective February 10, 2013, Discount Employer Stock Contributions are no longer made on behalf of any Participants in the Plan.

The Plan was amended effective January 1, 2018 to increase the Matching Contribution for Local IBEW 0097 to 50% of the first 7% of base pay.

The Plan was amended effective January 1, 2019 to adopt a safe harbor design for hardship distributions.

The Plan has evaluated subsequent events for recognition or disclosure through June 24, 2019 the date the financial statements were issued.

 

5


National Grid USA Companies’ Incentive Thrift Plan II

 

Notes to Financial Statements

December 31, 2018 and 2017

 

Contributions

The Plan is a defined contribution plan. An eligible employee can make Elective Contributions through Contribution Agreements (also known as “Salary Reduction Agreements” or “Elective Contributions”) to have from 1 percent to 50 percent of their eligible compensation contributed to the Plan on their behalf. Participants can choose whether their Elective Contributions to the Plan will be calculated on their Base Pay or All Pay.

Base Pay is defined as the Participant’s regular pay, prior to any salary reductions for Elective Contributions to the Plan, and any other salary reductions under the Health Care Spending Account, Health Savings Account, Dependent Care Reimbursement Account or for Company health care coverage.

Base Pay excludes all other forms of compensation, including supplemental disability income, amounts deferred under other plans, reimbursements of expenses, incentive pay, commissions, options, payments made in lieu of vacation days or under short- or long-term disability provisions, awards, overtime, premiums, and any other additional forms of earnings (including Company contributions to or under any other employee benefit plan, such as health insurance, pension, or severance pay).

All Pay is Base Pay, as defined above, plus overtime, commissions, premium pay, and any incentive pay.

The annual employee pre-tax Elective Contributions by each Participant were subject to Internal Revenue Service (“IRS”) limits of $18,500 and $18,000 in 2018 and 2017, respectively, for employees who did not attain age 50 by the end of the plan year. For employees who did attain age 50 by the last day of the plan year, the annual maximum pre-tax contribution was $24,500 and $24,000 for 2018 and 2017, respectively.

Participants can also elect to contribute up to 15 percent of their pay on an after-tax basis. The total amount of Elective Contributions (pre-tax and after-tax) may not exceed 50 percent of pay (further subject to the combined IRS annual contribution limit, adjusted periodically by law, which was $55,000 for 2018 and $54,000 for 2017).

New employees with funds held under a previous employer’s qualified plan are permitted to roll over eligible amounts from such funds into the Plan.

Participants may allocate their account balances in any whole percentage without restriction on the frequency of subsequent reallocations subject to investment fund short-term trading restrictions.

Active or former employees who are Participants and who receive a lump sum distribution from a Company qualified pension plan (National Grid USA Companies’ Final Average Pay Pension Plan, Niagara Mohawk Pension Plan, KeySpan Retirement Plan and Retirement Income Plan of KeySpan Corporation) may roll the lump sum proceeds into the Plan to the extent the proceeds qualify for rollover under the Internal Revenue Code (“IRC”). The total amount rolled over from these Plans in 2018 was $15,164,248.

 

6


National Grid USA Companies’ Incentive Thrift Plan II

 

Notes to Financial Statements

December 31, 2018 and 2017

 

Company Core Contributions

Beginning January 1, 2011, certain union groups, pursuant to their collective bargaining agreement, have begun making Company Core Contributions for eligible Participants. The Company calculates a Participant’s Core Contribution each payroll period, based on actual compensation for that payroll period. The contribution is a percentage of pay based on the Participant’s total points as set forth in the plan documents as of January 1 of the plan year. The contribution schedule is as follows:

 

Points

 

Core Contribution (% of Pay)

0 < 34

 3%

35 - 44

 4%

45 - 54

 5%

55 - 64

 6%

65 - 74

 7%

75 - 84

 8%

85+

 9%

* Once a person reaches 30 years of service, the pay credit is reduced to 4.5 percent for certain unions.

Core Contributions are based on All Pay. Participants will have an account established for them at Vanguard and Core Contributions will begin with their first paycheck after the 1st of the month following 3 months of service. These contributions will continue even if Participants do not contribute to the Plan.

Union Local 97C negotiated a change to their Core Contributions during 2017. Effective May 1, 2017, their Core Contributions are based on Base Pay only, and are based on years of service as follows:

 

Years of Service

 

Core Contribution

0 - 4

 4%

5 - 9

 5%

10 - 14

 6%

15 - 19

 7%

20 +

 8%

Unless elected otherwise, Core Contributions will be automatically invested in the Qualified Default Investment Alternative (“QDIA”) which is the Vanguard Target Retirement Trust Select closest to the year in which the Participant will attain age 65. Once enrolled, Participants can change the investment allocation at any time.

Company Matching Contributions

The Employers make Matching Contributions to the Plan in accordance with the terms of the collective bargaining agreement for each participating union group.

All Employer Matching Contributions are invested in the same investments elected by the Participant for their employee contributions unless otherwise directed by the Participant. True-up based matching contributions are available to participants who are employed on the last day of the Plan year, who have not had their contributions suspended for taking a hardship withdrawal.

 

7


National Grid USA Companies’ Incentive Thrift Plan II

 

Notes to Financial Statements

December 31, 2018 and 2017

 

Automatic Enrollment

New hires are automatically enrolled 45 days after the hire date at 6 percent of their All Pay. Participant contributions will be defaulted to the Plan’s QDIA if a Participant does not select their own investments. The automatic enrollment can be reversed within the first 90 days of the enrollment date and all money in the account returned to the Participant. After the first 90 days of enrollment, the automatic enrollment can be reversed but any money already contributed to the account cannot be returned to the Participant.

Automatic Increase

Participants may elect an automatic increase of 1 to 3 percent of their pre-tax Contributions each year. A participant can elect to make the automatic increase effective at any time during the year and is capped at 50 percent of eligible compensation. It is not available for after-tax Contributions.

Participant Accounts

Each Participant’s account is credited with the Participant’s Contribution and allocations of (a) the Employer’s Matching Contributions (b) Company Core contributions (if applicable), and (c) allocations of plan earnings, net of fees. Allocations are based on Participant earnings, account balances or specific participant transactions, as defined. The benefit to which a Participant is entitled is the benefit that can be provided from the Participant’s vested account.

Vesting

Participants are immediately vested in their Elective Contributions. Vesting of Matching and Company Core Contributions varies and are subject to the terms of the collective bargaining agreement for each union group.

Notes Receivable from Participants

An employee can obtain a loan from the Plan from such Participant’s account. The minimum loan allowed is $1,000. A loan cannot exceed the lesser of 50 percent of the Participant’s account balance or $50,000. The $50,000 limit is further limited by the Participant’s highest outstanding loan balance within the twelve months preceding the loan request. The loans are secured by the balance in the Participant’s account. Loans must be repaid over a period of one to five years (up to fifteen years for the purchase of a primary residence) by means of payroll deductions. The loan interest rate is set at the time Participants apply for a loan based on the rate established by the Administrator. Interest rates at December 31, 2018 ranged from 3.25 percent to 9.25 percent. Participants who leave the Company or are on an unpaid leave of absence can continue to repay their outstanding loan balance through the remaining amortization period directly to Vanguard.

A default of the loan will occur if the loan balance is not paid off by the end of the quarter following the quarter in which the missed payment was due or the loan is not paid in full by the contractual maturity date. In the event of default, the outstanding balance of the loan and any unpaid accrued interest is deemed to have been distributed to the Participant. Interest continues to be tracked following a default solely for determining the amount available for a subsequent loan. Deemed distributions are included in the Loan Fund’s investment balance until the employee has been terminated. Upon termination, the defaulted loan balance is deducted from the Plan. There were cumulative deemed distributions of $2,247,860 and $2,034,781 as of December 31, 2018 and 2017, respectively.

 

8


National Grid USA Companies’ Incentive Thrift Plan II

 

Notes to Financial Statements

December 31, 2018 and 2017

 

Payment of Benefits

Participants qualify for a distribution of their entire account balance when the Participant ends employment (including at retirement), becomes totally and permanently disabled or reaches age 59 1/2. Participants who qualify for a distribution may receive an immediate lump sum, defer payment, or receive the value of their account in cash installments. If a Participant defers receipt of benefits, their funds will remain invested in the investment funds of their choice. They may make investment transfers in the same manner as any active Participant.

The Plan allows automatic lump-sum distributions if the value of the Participant’s vested account balance is less than $1,000 and the Participant is no longer employed by the Company. The Participant must consent to the distribution if the present value is more than $1,000.

Unless Participants choose otherwise, their account balance remains in the Plan until they attain age 70 1/2. At that time, Participants are required to receive minimum required distributions beginning on April 1 of the following year. Participants can elect a total or partial distribution from their account(s) at any time following separation of service. In addition, Participants may: 1) receive account balances in annual, semi-annual, quarterly or monthly installments, to be paid over a period not to exceed their life expectancy. Once installments begin, the amount of each payment is determined by dividing the Participant account balance at the time of payment by the number of installments remaining to be paid; 2) receive account balances in a series of substantially equal periodic payments (paid at least annually for their life expectancy); or 3) elect to receive distributions in any amount a Participant wishes, beginning and ending at their discretion.

The Plan allows Qualified Non-elective Contributions to the extent such contributions are necessary to satisfy the nondiscrimination requirement under the Internal Revenue Code (“IRC”). Following separation from service prior to age 55, a Participant may elect to receive a partial distribution from his or her account or a total distribution at any time; such Participant may also defer receipt of his or her benefit until the latest date permitted under the IRC.

Forfeitures

Forfeiture accounts are maintained to hold any Employer contributions and earnings thereon that were deposited as a result of a Participant’s separation from service prior to becoming fully vested. In addition, forfeitures from prior plan mergers and uncashed Participant checks are held in the Plan forfeiture accounts.

As of December 31, 2018 and 2017, forfeited non-vested accounts totaled $60,421 and $11,571, respectively. These accounts may be used to reduce future Employer contributions and pay plan administration expenses as described in the plan document. During the year ended December 31, 2018, $80,981 of forfeited non-vested accounts were used to reduce Employer contributions.



Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
PART IX: ALLOWANCES
  1. Report below the particulars (details) called for concerning allowances.
  2. Report all acquisitions of allowances at cost.
  3. Report allowances in accordance with a weighted average cost allocation method and other accounting as prescribed by General Instruction No. 21 in the Uniform System of Accounts.
  4. Report the allowances transactions by the period they are first eligible for use: the current year’s allowances in columns (b)-(c), allowances for the three succeeding years in columns (d)-(i), starting with the following year, and allowances for the remaining succeeding years in columns (j)-(k).
  5. Report on line 4 the Environmental Protection Agency (EPA) issued allowances. Report withheld portions Lines 36-40.
  6. Report on Lines 5 allowances returned by the EPA. Report on Line 39 the EPA’s sales of the withheld allowances. Report on Lines 43-46 the net sales proceeds and gains/losses resulting from the EPA’s sale or auction of the withheld allowances.
  7. Report on Lines 8-14 the names of vendors/transferors of allowances acquire and identify associated companies (See "associated company" under "Definitions" in the Uniform System of Accounts).
  8. Report on Lines 22 - 27 the name of purchasers/ transferees of allowances disposed of and identify associated companies.
  9. Report the net costs and benefits of hedging transactions on a separate line under purchases/transfers and sales/transfers.
  10. Report on Lines 32-35 and 43-46 the net sales proceeds and gains or losses from allowance sales.
Current Year Year One Year Two Year Three Future Years Totals
Line No.
Allowance Inventory (Account 158.1)
(a)
No.
(b)
Amt.
(c)
No.
(d)
Amt.
(e)
No.
(f)
Amt.
(g)
No.
(h)
Amt.
(i)
No.
(j)
Amt.
(k)
No.
(l)
Amt.
(m)
1
Balance-Beginning of Year
0
0
0
0
0
0
0
0
0
0
0
0
2
3
Acquired During Year:
4
Issued (Less Withheld Allow)
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
5
Returned by EPA
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
6
7
8
IMPA3
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
9
10
11
12
13
14
15
Total
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
16
17
Relinquished During Year:
18
Charges to Account 509
100
1,000
200
2,000
300
3,000
400
4,000
500
5,000
1,500
15,000
19
Other:
20
Allowances Used
100
1,000
200
2,000
300
3,000
400
4,000
500
5,000
1,500
15,000
20.1
IMPA2
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
21
Cost of Sales/Transfers:
22
IMPA
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
23
24
25
26
27
28
Total
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
29
Balance-End of Year
0
0
0
0
0
0
0
0
0
0
0
0
30
31
Sales:
32
Net Sales Proceeds(Assoc. Co.)
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
33
Net Sales Proceeds (Other)
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
34
Gains
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
35
Losses
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
Allowances Withheld (Acct 158.2)
36
Balance-Beginning of Year
0
0
0
0
0
0
0
0
0
0
0
0
37
Add: Withheld by EPA
2,000,000
2,000,000
2,000,000
2,000,000
2,000,000
2,000,000
2,000,000
2,000,000
2,000,000
2,000,000
10,000,000
10,000,000
38
Deduct: Returned by EPA
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
39
Cost of Sales
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
40
Balance-End of Year
0
0
0
0
0
0
0
0
0
0
0
0
41
42
Sales
43
Net Sales Proceeds (Assoc. Co.)
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
44
Net Sales Proceeds (Other)
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
45
Gains
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000
46
Losses
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
5,000,000


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

2019-03-29
Year/Period of Report

End of:
2018
/
Q4
PART X: OTHER REGULATORY ASSETS
  1. Report below the particulars (details) called for concerning other regulatory assets which are created through the ratemaking actions of regulatory agencies (and not includable in other amounts).
  2. For regulatory assets being amortized, show period of amortization in column (a).
  3. Minor items (5% of the Balance at End of Year for Account 182.3 or amounts less than $50,000, whichever is less) may be grouped by classes.
Line No.
DescriptionAndPurposeOfOtherRegulatoryAssets
Description and Purpose of Other Regulatory Assets
(a)
OtherRegulatoryAssets
Balance at Beginning of Year
(b)
IncreaseDecreaseInOtherRegulatoryAssets
Debits
(c)
OtherRegulatoryAssetsWrittenOffAccountCharged
CREDITS, Account Charged
(d)
OtherRegulatoryAssetsWrittenOffRecovered
CREDITS, Amount
(e)
OtherRegulatoryAssets
Balance at End of Year
(f)
1
Deferred Income Taxes
1,187,737
1,268,696
2,456,433
0
2
Pension
2,426,198
223,478
235,911
2,413,765
3
OPEB
943,882
437,757
94,083
1,287,556
4
Pension Expense Deferred - Electric
803,850
1,660,884
1,497,315
967,419
5
Asset Retirement Obligation
4,006
381
4,387
6
Transition Charge
19,447
32,676
33,829
18,294
7
Energy Efficiency
21,002
21,002
0
44
Total Balance at Beginning of Current Quarter/Year
5,406,122
3,623,872
4,338,573
4,691,421


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

2019-03-29
Year/Period of Report

End of:
2018
/
Q4
PART XI: DATA ON OFFICERS AND DIRECTORS

Report below the title and name of the officers and directors of the respondent (company) whose salaries were $50,000 or more at the end of the report year (list officers first). If there were any changes during the year, report the title, name and address of the previous officer or director and date of change in the comments column. Designate by asterisk (*) officers who are directors; list other directors who are not officers. Report the salary (for the year) for each officer, and the fees for each director listed.

Line No.
Name
(a)
Address
(b)
Number of Votes
(c)
Comments
(d)
1
Daniel Bunszell
One Metrotech Center Brooklyn, NY 11201
12
2
Christopher Kelly
One Metrotech Center Brooklyn, NY 11201
Vice Pres & Controller (Resigned 5/1/2018)
3
Dennis Urban
One Metrotech Center Brooklyn, NY 11201
10
4
George Carlin
One Metrotech Center Brooklyn, NY 11201
CEO (Appointed 5/1/2018)
5
Jeannette Mills
One Metrotech Center Brooklyn, NY 11201
6
John Bruckner
One Metrotech Center Brooklyn, NY 11201


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
PART XII: ACCUMULATED PROVISION FOR DEPRECIATION AND AMORTIZATION OF UTILITY PLANT
Line No.
Name of Utility Department
(a)
Balance at Beginning of Year
(b)
Depreciation and Amortization Accruals for Year
(c)
Net Charges for Plant Retired During Year
(d)
Other Items debit or Credit (Explain in Footnote)
(e)
Balance at End of Year
(f)
1 ELECTRIC (110)
137,993,840
2,000,000
966,609
3,641,650
140,602,099
2 Other Utility Department (119) (Specify):
3
Plant 1
10,000
2,000
3,000
1,000
12,000
4
Plant 2
10,000
2,000
3,000
1,000
12,000
5
6


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
PART XIII: CAPITAL STOCK DATA
  1. Report below the particulars (details) called for concerning common and preferred stock at end of year, distinguishing separate series of any general class. Show separate totals for common and preferred stock. If information to meet the stock exchange reporting requirement outlined in column (a) is available from the SEC 10-K Report Form filing, a specific reference to report form (i.e., year and company title) may be reported in column (a) provided the fiscal years for both the 10-K report and this report are compatible.
  2. Entries in column (b) should represent the number of shares authorized by the articles of incorporation as amended to end of year.
  3. Give details concerning shares of any class and series of stock authorized to be issued by a regulatory commission which have not yet been issued.
  4. The identification of each class of preferred stock should show the dividend rate and whether the dividends are cumulative or noncumulative.
  5. State in a footnote if any capital stock that has been nominally issued is nominally outstanding at end of year.
  6. Give particulars (details) in column (a) of any nominally issued capital stock, reacquired stock, or stock in sinking and other funds which is pledged, stating name of pledgee and purpose of pledge.
Line No.
Class and Series of Stock
(a)
Number of Shares Authorized
(b)
Par Value Per Share of Par Value Stock
(c)
Stated Value Per Share of Nonpar Stock
(d)
Outstanding Per Balance Sheet, Shares
(e)
Outstanding Per Balance Sheet, Amount
(f)
1
Series A
1,000,000
5.3412
4.32145
5,000,000
100,000,000,000
2
Series B
1,000,000
5.3
4.32
5,000
100,000,000


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
PART XIV: LONG-TERM DEBT DATA
Line No.
ClassAndSeriesOfObligationCouponRateDescription
Class and Series of Obligation
(a)
NominalDateOfIssue
Nominal Date of Issue
(b)
DateOfMaturity
Date of Maturity
(c)
Outstanding Per Balance Sheet
(d)
LongTermDebtInterestRate
Interest % Rate
(e)
Interest, Amount
(f)
1
Industrial Finance Agency
08/01/2007
08/01/2042
13,300,000
1.59
212,046
2
Utility Revenue Series 2004
12/16/2004
03/01/2039
10,000,000
1.66
166,329
3
Utility Revenue Series 2005
12/08/2005
12/01/2040
28,000,000
1.64
458,947
TOTAL
51,300,000
837,321


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

2019-03-29
Year/Period of Report

End of:
2018
/
Q4
PART XV: OTHER REGULATORY LIABILITIES (Account 254)
  1. Report below the particulars (details) called for concerning other regulatory liabilities, including rate order docket number, if applicable.
  2. Minor items (5% of the Balance in Account 254 at end of period, or amounts less than $100,000 which ever is less), may be grouped by classes.
  3. For Regulatory Liabilities being amortized, show period of amortization.
DEBITS
Line No.
Description and Purpose of Other Regulatory Liabilities
(a)
Balance at Beginning of Current Quarter/Year
(b)
Account Credited
(c)
Amount
(d)
Credits
(e)
Balance at End of Current Quarter/Year
(f)
1
Deferred Income Taxes
4,631,465
2,445,421
1,390,849
3,576,893
2
Energy Efficiency
6,063,769
1,442,547
1,242,977
5,864,199
3
Transmission Service
13,928,894
369,392
2,112,488
15,671,990
4
Basic Service Admin Cost
1,496,312
18,478
60,713
1,538,547
5
Revenue Decoupling
1,107,238
1,264,844
1,616,801
1,459,195
6
Cable Facilities
525,244
280,818
347,022
591,448
7
Service Quality Penalty
0
280
73,073
72,793
8
Over Collect
306,178
147,631
306,518
465,065
9
Tax Reform - Tax Savings
0
110,074
110,074
41 TOTAL
28,059,100
5,969,411
7,260,515
29,350,204

Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
PART XVI: ELECTRIC SALES DATA FOR THE YEAR
Line No.
CLASS OF SERVICE
(a)
REVENUES
(b)
KILOWATT-HOURS
(c)
AVERAGE NUMBER OF CUSTOMERS*
(d)
1
Residential Sales
1,054,100
8,976
1,073
2
Commercial and industrial sales
240,946
2,404
165
3
Public street and highway lighting
3
10
10
4
Interdepartmental sales
2,954
30
1
5
Other sales
0
0
0
6
Total sales to ultimate consumers
1,298,003
11,420
1,254
7
Sales for resale
7
6
5
8
Total sales of electricity
1,298,010
11,426
1,259
9
Other operating revenues (specify)
10
Other
20,642,301
11
Provision for rate refunds
115,706
12
Total electric operating revenues
21,824,605


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
PART XVII: ELECTRIC OPERATION AND MAINTENANCE EXPENSES
Line No.
ITEM
(a)
OPERATION & MAINTENANCE EXPENSES
(b)
1
PowerProductionExpensesAbstract
Production Expenses:
2
PowerProductionExpensesSteamPower
Steam generation
0
3
PowerProductionExpensesHydraulicPower
Hydraulic generation
0
4
PowerProductionExpensesOtherPower
Other generation
0
5
PurchasedPower
Purchased power (including power exchanges)
0
6
OtherPowerSupplyExpenseExcludingPurchasedPower
Other power supply expenses
1,104,436
7
PowerProductionExpenses
Total production expenses
1,104,436
8
TransmissionExpenses
Transmission expenses
9
DistributionExpenses
Distribution expenses
5,218,329
10
CustomerAccountExpenses
Customer accounts expenses
168,472
11
CustomerServiceAndInformationExpenses
Customer service and informational expenses
2,621,543
12
SalesExpenses
Sales expenses
18,139
13
AdministrativeAndGeneralExpenses
Administrative and general expenses
2,918,532
14
OperationsAndMaintenanceExpensesElectric
Total electric operation and maintenance expenses
12,049,451


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
PART XVIII: SALES FOR RESALE
  1. Report below the information called for concerning sales for resale during the year to other electric utilities, cooperatives, and to cities and other public authorities for distribution to ultimate consumers.
  2. Enter the name of the purchaser in column (a). Abbreviate if necessary but do not truncate the name or use acronyms. Explain in a footnote any ownership interest or affiliation the respondent has with each purchaser.
  3. In column (b), identify the FERC Rate Schedule or Tariff Number.
  4. Report annual maximum demand in column (c). Demand must be in megawatts. Footnote any demand reported in column (c) which is not stated on a megawatt basis and explain.
  5. Report in column (d) the megawatt-hours shown on bills rendered to each purchaser.
  6. Report in column (e) the total charge shown on bills rendered to each purchaser.
  7. Footnote entries as required and provide explanations following all required data.
Line No.
Name of Company or Public Authority (Footnote Affiliations)
(a)
FERC Rate Schedule or Tariff Number
(b)
Annual Maximum Demand (MW)
(c)
MegaWatt-hours Sold (MWH)
(d)
Revenues
(e)
1
Aguila Irrigation District
3.791
33,199
3,777,793
2
Buckeye Irrigation District
1.302
11,345
1,461,982
3
Electrical District No. 6
0.010
87
368,514
4
Energy Keepers Inc
1.254
10,977
1,536,940
5
Harquahala Valley Irrigation District
9.725
36,293
2,099,931


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
PART XIX: PURCHASED POWER
  1. Report below the information called for concerning sales for resale during the year to other electric utilities, cooperatives, and to cities and other public authorities for distribution to ultimate consumers.
  2. Enter the name of the purchaser in column (a). Abbreviate if necessary but do not truncate the name or use acronyms. Explain in a footnote any ownership interest or affiliation the respondent has with each purchaser.
  3. In column (b), identify the FERC Rate Schedule or Tariff Number.
  4. Report annual maximum demand in column (c). Demand must be in megawatts. Footnote any demand reported in column (c) which is not stated on a megawatt basis and explain.
  5. Report in column (d) the megawatt-hours shown on bills rendered to each purchaser.
  6. Report in column (e) the total charge shown on bills rendered to each purchaser.
  7. Footnote entries as required and provide explanations following all required data.
Line No.
Name of Company or Public Authority (Footnote Affiliations)
(a)
FERC Rate Schedule or Tariff Number
(b)
Annual Maximum Demand (MW)
(c)
MegaWatt-hours Sold (MWH)
(d)
Revenues
(e)
1
ADM Investor Services, Inc.
1
45
10
357,209
2
AVANGRID RENEWABLES, LLC
1
25
35
7,952
3
Arizona Public Service Co.
1
100,428
4
Avista Corp.
1
206,902
5
BP Energy Company
1
155,798
6
Black Hills Power Inc.
1
65,430
7
Bonneville Power Administration
1
181,121
8
Brookfield Energy Marketing LP
1
29,596


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
PART XX: UTILITY PLANT DATA
Line No.
Item
(a)
Balance at Beginning of Year
(b)
Additions During Year
(c)
Retirements During Year
(d)
Transfers and Adjustments
(e)
Balance at End of Year
(f)
1
ElectricUtilityPlantAbstract
Electric utility plant
2
ElectricPlantInServiceRollforwardAbstract
Electric plant in service:
3
IntangiblePlantAbstract
Intangible plant
100
200
100
1
199
4
ProductionPlantAbstract
Production Plant:
5
SteamProductionAbstract
Steam production
200
100
200
2
102
6
HydraulicProductionAbstract
Hydraulic production
300
200
300
3
203
7
OtherProductionAbstract
Other production
400
400
400
4
404
8
TransmissionPlantAbstract
Transmission plant
500
500
500
5
505
9
DistributionPlantAbstract
Distribution plant
113,171,074
3,000,000
500,000
6
115,671,080
11
GeneralPlantAbstract
General plant
8,200,000
58,808
3,450
7
8,255,365
12
ElectricPlantInServiceAbstract
Total electric plant in service
121,372,574
3,060,208
504,950
26
123,927,858.00
13
PropertyUnderCapitalLeasesAbstract
Property Under Capital Leases
14
ElectricPlantPurchasedRollforwardAbstract
Electric plant purchased
250
125
150
175
400
15
ElectricPlantSoldRollforwardAbstract
Electric plant sold
350
225
250
275
600
16
ElectricPlantInProcessOfReclassificationRollforwardAbstract
Electric plant in process of reclassification
450
325
350
375
800
17
ElectricPlantLeasedToOthersRollforwardAbstract
Electric plant leased to others
550
425
450
475
1,000
18
ElectricPlantHeldForFutureUseRollforwardAbstract
Electric plant held for future use
650
525
550
575
1,200
19
ConstructionWorkInProgressElectricRollforwardAbstract
Construction work in progress - Electric
750
625
650
675
1,400
20
ElectricPlantAcquisitionAdjustmentsRollforwardAbstract
Electric plant acquisition adjustments
21
OtherElectricPlantAdjustmentsRollforwardAbstract
Other Electric Plant Adjustments (explain)
21.1
OtherElectricPlantAdjustmentsRollforwardAbstract
Plant 1
250
125
150
175
400
21.2
OtherElectricPlantAdjustmentsRollforwardAbstract
Plant 2
350
225
250
275
600
23
UtilityPlantAndConstructionWorkInProgressNotIncludingOtherUtilityPlantRollforwardAbstract
Total electric plant
121,376,174
3,062,808
507,750
3,026
123,934,258
24
OtherUtilityPlantRollforwardAbstract
Plant of Other Utility Departments (specify)
24.1
OtherUtilityPlantRollforwardAbstract
Plant A
650
525
550
575
1,200
24.2
OtherUtilityPlantRollforwardAbstract
Plant B
84,616
116,530
59,278
4,348
137,520
46
OtherUtilityPlantAbstract
Total Other Utility Plant
85,266
117,055
59,828
3,773
138,720
47
UtilityPlantAndConstructionWorkInProgressIncludingOtherElectricPlantAdjustmentsRollforwardAbstract
Total Utility Plant
121,461,440
3,179,863
567,578
747
124,072,978


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

2019-03-29
Year/Period of Report

End of:
2018
/
Q4
PART XXI: FOOTNOTE DATA
Line No.
Page Number
(a)
Part Number
(b)
Item Number
(c)
Column Number
(d)
Comments
(e)
1
14566777778
Report the amounts for each type of ancillary service shown in column (a) for the year as specified in Order No. 888 and defined in the respondents Open Access Transmission Tariff.
2
2
Footnote 2
3
55454565
Note 3


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

2019-03-29
Year/Period of Report

End of:
2018
/
Q4
PART XXII: PURCHASES AND SALES OF ANCILLARY SERVICES
Report the amounts for each type of ancillary service shown in column (a) for the year as specified in Order No. 888 and defined in the respondents Open Access Transmission Tariff.
In columns for usage, report usage-related billing determinant and the unit of measure.
  1. On line 1 columns (b), (c), (d), and (e) report the amount of ancillary services purchased and sold during the year.
  2. On line 2 columns (b), (c), (d), and (e) report the amount of reactive supply and voltage control services purchased and sold during the year.
  3. On line 3 columns (b), (c), (d), and (e) report the amount of regulation and frequency response services purchased and sold during the year.
  4. On line 4 columns (b), (c), (d), and (e) report the amount of energy imbalance services purchased and sold during the year.
  5. On lines 5 and 6, columns (b), (c), (d), and (e) report the amount of operating reserve spinning and supplement services purchased and sold during the period.
  6. On line 7 columns (b), (c), (d), and (e) report the total amount of all other types ancillary services purchased or sold during the year. Include in a footnote and specify the amount for each type of other ancillary service provided.
Amount Purchased for the Year Amount Sold for the Year
Usage - Related Billing Determinant Usage - Related Billing Determinant
Line No.
Type of Ancillary Service
(a)
Number of Units
(b)
Unit of Measure
(c)
Dollar
(d)
Number of Units
(e)
Unit of Measure
(f)
Dollars
(g)
1
Scheduling, System Control and Dispatch
43,647
MW
3,816,771
48,190
MWH
3,909,971
2
Reactive Supply and Voltage
43,647
MW
3,816,771
48,190
MWH
3,909,971
3
Regulation and Frequency Response
43,647
MW
3,816,771
48,190
MWH
3,909,971
4
Energy Imbalance
43,647
MW
3,816,771
48,190
MWH
3,909,971
5
Operating Reserve - Spinning
43,647
MW
3,816,771
48,190
MWH
3,909,971
6
Operating Reserve - Supplement
43,647
MW
3,816,771
48,190
MWH
3,909,971
7
Other
43648
MW
3,816,771
48,193
MWH
3,909,977
8
Total (Lines 1 thru 7)
305,530
26,717,397
337,333
27,369,803


Name of Respondent:


Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:


2019-03-29
Year/Period of Report


End of:
2018
/
Q4
PART XXIII: Monthly Transmission System Peak Load
  1. Report the monthly peak load on the respondent's transmission system. If the respondent has two or more power systems which are not physically integrated, furnish the required information for each non-integrated system.
  2. Report on Column (b) by month the transmission system's peak load.
  3. Report on Columns (c ) and (d) the specified information for each monthly transmission - system peak load reported on Column (b).
  4. Report on Columns (e) through (j) by month the system' monthly maximum megawatt load by statistical classifications. See General Instruction for the definition of each statistical classification.
Line No.
Month
(a)
Monthly Peak MW - Total
(b)
Day of Monthly Peak
(c)
Hour of Monthly Peak
(d)
Firm Network Service for Self
(e)
Firm Network Service for Others
(f)
Long-Term Firm Point-to-point Reservations
(g)
Other Long-Term Firm Service
(h)
Short-Term Firm Point-to-point Reservation
(i)
Other Service
(j)
NAME OF SYSTEM: a1
1
January
100
5
24
100
100
100
100
100
100
2
February
100
5
21
100
100
100
100
100
100
3
March
100
10
22
100
100
100
100
100
100
4
Total for Quarter 1
300
300
300
300
300
300
5
April
200
12
12
200
200
200
200
200
200
6
May
200
9
5
200
200
200
200
200
200
7
June
200
21
6
200
200
200
200
200
200
8
Total for Quarter 2
600
600
600
600
600
600
9
July
300
31
14
300
300
300
300
300
300
10
August
300
31
17
300
300
300
300
300
300
11
September
300
31
12
300
300
300
300
300
300
12
Total for Quarter 3
900
900
900
900
900
900
13
October
100
22
23
100
100
100
100
100
100
14
November
100
12
24
100
100
100
100
100
100
15
December
100
25
6
100
100
100
100
100
100
16
Total for Quarter 4
300
300
300
300
300
300
17
Total
2,100
2,100
2,100
2,100
2,100
2,100
2,100


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

2019-03-29
Year/Period of Report

End of:
2018
/
Q4
Part XXIV: Transmission Service and Generation Interconnection Study Costs
  1. Report the particulars (details) called for concerning the costs incurred and the reimbursements received for performing transmission service and generator interconnection studies.
  2. List each study separately.
  3. In column (a) provide the name of the study.
  4. In column (b) report the cost incurred to perform the study at the end of period.
  5. In column (c) report the account charged with the cost of the study.
  6. In column (d) report the amounts received for reimbursement of the study costs at end of period.
  7. In column (e) report the account credited with the reimbursement received for performing the study.
Line No.
Description
(a)
Costs Incurred During Period
(b)
Account Charged
(c)
Reimbursements Received During the Period
(d)
Account Credited With Reimbursement
(e)
Transmission Studies
1
Connect NY Projects
756
0
2
Daybreak Solar Project
1,818
5,850
3
Greeny Cty Solar
2,915
0
4
Saugerties Solar Project
1,474
0
5
6
7
8
9
10
11
10
Total
6,963
5,850
Generation Studies
11
Granite State ISO Study
205
205
12
ISO Grand Isle Intertie
906
906
13
ISO New England Clean Power Link
7055
7,055
14
15
16
17
18
19
20
19
Total
8,166
8,166
20 Grand Total
15,129
14,016


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
PART XXV: AMOUNTS INCLUDED IN ISO/RTO SETTLEMENT STATEMENTS
  1. The respondent shall report below the details called for concerning amounts it recorded in Account 555, Purchase Power, and Account 447, Sales for Resale, for items shown on ISO/RTO Settlement Statements. Transactions should be separately netted for each ISO/RTO administered energy market for purposes of determining whether an entity is a net seller or purchaser in a given hour. Net megawatt hours are to be used as the basis for determining whether a net purchase or sale has occurred. In each monthly reporting period, the hourly sale and purchase net amounts are to be aggregated and separately reported in Account 447, Sales for Resale, or Account 555, Purchased Power, respectively.
Line No.
Description of Item(s)
(a)
Balance at End of Quarter 1
(b)
Balance at End of Quarter 2
(c)
Balance at End of Quarter 3
(d)
Balance at End of Year
(e)
1 Energy
2 Net Purchases (Account 555)
3 Net Sales (Account 447)
2,000,000
4 Transmission Rights
3,000,000
5 Ancillary Services
5,000,000
6 Other Items (list separately)
7
4,000,000
8
6,000,000
9
7,000,000
12 TOTAL
28,000,000


Name of Respondent:

Nantucket Electric Company
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/29/2019
Year/Period of Report

End of:
2018
/
Q4
ENERGY STORAGE OPERATIONS (Small Plants)
  1. Small Plants are plants less than 10,000 KW.
  2. In columns (a), (b) and (c) report the name of the energy storage project, functional classification (Production, Transmission, Distribution), and location.
  3. In column (d), report project plant cost including but not exclusive of land and land rights, structures and improvements, energy storage equipment and any other costs associated with the energy storage project.
  4. In column (e), report operation expenses excluding fuel, (f), maintenance expenses, (g) fuel costs for storage operations and (h) cost of power purchased for storage operations and reported in Account 555.1, Power Purchased for Storage Operations. If power was purchased from an affiliated seller specify how the cost of the power was determined.
  5. If any other expenses, report in column (i) and footnote the nature of the item(s).
BALANCE AT BEGINNING OF YEAR
Line No.
Name of the Energy Storage Project
(a)
Functional Classification
(b)
Location of the Project
(c)
Project Cost
(d)
Operations (Excluding Fuel used in Storage Operations)
(e)
Maintenance
(f)
Cost of fuel used in storage operations
(g)
Account No. 555.1, Power Purchased for Storage Operations
(h)
Other Expenses
(i)
1
Project 1
New York
1,000
2,000
546,639
1,000
1,000
2
Project 2
Nevada
1,000
20,000
546,640
1,000
2,000
36 TOTAL
2,000
22,000
1,093,279
2,000
3,000
10,000