NStar and sister companies renamed Eversource Energy
Northeast Utilities, the parent company of NStar and the Western Massachusetts Electric Company, said that it would change its name and the name of all its affiliates to Eversource Energy.
The company said in a statement that the name change would take effect on February 2. Northeast Utilities operates six major electricity and gas distribution companies in several New England states, all of which will be rebranded as Eversource Energy -- Connecticut Light and Power Co., Public Service Co. of New Hampshire, and Yankee Gas Services Co., NStar Electric, NStar Gas, and Western Mass. Electric.
“Eversource reflects the one-company focus we have been driving for the last few years,” said Tom May, the chief executive of Northeast Utilities, in a statement. “Consolidating our brand was the obvious next step for us as we continually strive to improve energy delivery and customer service to our 3.6 million electricity and natural gas customers across the region.”
Northeast Utilities spent $4.2 billion to buy NStar in 2010. NStar itself was created by a 1999 merger between BEC Energy and Commonwealth Electric Systems, and its name was a reference to BEC Energy’s logo, which NStar continued to use.
“The North Star is the most important star for navigational purposes,” said May, who was then BEC Energy’s chief executive. “As our logo, it symbolizes our strategic direction and focus on serving our customers, employees and shareholders as the premier wires and pipes delivery company in the region.”
Northeast Utilities’s ticker symbol on the New York Stock Exchange will change later in February, going from NU to ES on Feb. 19. A spokesperson confirmed that a recent filing with the US Patent and Trademark Office depicted the company’s new logo.