Nov. 3--HARTFORD -- Third quarter earnings at Northeast Utilities fell nearly 11 percent, which company officials said Monday is the result of cooler than usual summer temperatures and the lingering effects of the recession.

The Hartford-based utility company made $64.8 million or 37 cents per share during the third quarter, which ended Sept. 30. That's $7.9 million or 10 cents per share less than NU made during the same period in 2008.

The company fared far better in its performance for the first nine months of this year when it made $245.3 million, or $1.43 per share. That's compared with $188.9 million, or $1.21 per share, during the same period a year earlier.

NU's nine-month earnings picture benefited from 2008 figures having included an after-tax charge of $29.8 million, or 19 cents per share. The after-tax charge was the result of a litigation settlement that occurred during the first quarter of that year.

"We continue to manage successfully through the difficult economic conditions our region and nation are experiencing by maintaining tight control of our operating costs, even while we continue to invest in the energy infrastructure needed to serve our customers and our region," Charles Shivery, NU's chairman, president and chief executive officer said. "Although third quarter results were lower than they were in 2008, they were consistent with our expectations and we continue to be comfortable with our full-year projection of $1.80 to $1.90 per share."

NU's Connecticut Light and Power Co. subsidiary saw its third quarter earnings for distribution of electricity fall 51 percent.

CL&P made $11.4 million in the third quarter of this year, compared to $23.5 million during the same period a year ago.

Company officials attributed the decline in CL&P's third quarter earnings to a $4.1 million after-tax expense resulting from several factors, including uncollected customer bills.

As part of its earnings announcement, company officials said they expect to spend $6.4 billion in capital improvements over the next five years, including $1.1 billion next year alone.

Shivery noted that the projected capital expenditures include spending approximately $1.35 billion from 2010 through 2014 to complete NU's $1.49 billion share of the New England East-West Solution.

NU's so-called NEWS project is a series of three transmission project that are designed to improve the ability to deliver electricity from sources outside the state in Massachusetts and Rhode Island.

The company's stock, which trades on the New York Stock Exchange, closed Monday at $22.54 per share, down 51 cents from end of trading Friday.

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