May 2 (Reuters) - Eversource Energy ( ES ) reported a

rise in first-quarter profit on Thursday, as the U.S. electric

and water utility benefited from higher electricity rates.

Regulated utilities use rate case proceedings to seek power

price increases, basing their appeals on their investments or

expenses incurred in delivering services.

Quarterly earnings from Eversource's electric distribution

segment rose 12.1% to $188.4 million from a year earlier, while

the New England utility earned $199.4 million from its electric

transmission segment, a year-over-year increase of 12.8%.

Eversource Energy ( ES ) supplies electricity and natural gas to

about 4 million customers across Connecticut, Massachusetts and

New Hampshire. The company exited its role in offshore wind

development last year, but it is overseeing construction of an

onshore substation for the Revolution Wind project that is in

the works off the shores of Rhode Island.

"The onshore substation is the critical path to the project

going into service," Eversource CEO John Nolan said on the

company's earnings call on Friday.

"We continue to monitor the project's overall construction

progress closely, currently in the latest construction updates,

the cost estimates we have been provided," he said.

U.S. offshore wind projects have been under threat by the

administration of President Donald Trump, who has ordered the

halting of a New York offshore wind farm and announced tariffs

that raise costs for the projects.

Eversource's project, Nolan said, is proceeding as planned.

While the company reported higher profits tied to its power

segment, earnings from Eversource's water distribution segment

were down 33.3% to $3.6 million from last year.

In January, Eversource agreed to sell its public water

supply unit, Aquarion Water, it acquired in 2017 in a deal worth

$2.4 billion, as the utility firm aims to pare debt and focus on

its primary electricity and natural gas businesses.

Eversource reported a net income attributable to common

shareholders of $550.8 million for the quarter ended March 31,

up 5.5% from a year earlier.