The Federal Energy Regulatory Commission (FERC) arbitrarily reduced the Return on Equity (ROE) for New England transmission owners, utilizing outdated, decade-old data. Eversource Energy is pursuing legal action, including filing a motion for stay of the order and evaluating a Section 205 filing, to challenge the decision and prevent damaging retroactive refunds. The FERC order established a base ROE of 9.57% for New England transmission owners and a maximum ROE for transmission incentives of 12.09%. The FERC decision is expected to lower Eversource's future after-tax earnings by approximately $70 million for 2026. Eversource's revised 2026 non-GAAP earnings guidance is now expected to be in the range of $4.57 to $4.72 per share. The revised guidance includes a $15 million negative impact should the Aquarion sale, recently approved by PURA, close this year, recognizing that approximately 70% of Aquarion's earnings occur in the second half of the year. Potential retroactive refunds for prior periods, if upheld, would be issued over an 18 to 24-month period in coordination with other New England transmission owners and ISO New England, and with FERC's approval.