Nstar 8-K NSTAR Reports Third Quarter Results for 2004

Exhibit 99.2

NSTAR

Condensed Consolidated Statements of Income (Unaudited)

		Three Months Ended
		September 30,
(in millions)		2004			2003
Operating revenues	$	781.5		$	817.3
Operating expenses:
Purchased power, cost of gas and demand
side management		448.9			468.4
Operations and maintenance		103.2			122.5
Depreciation and amortization		60.1			56.7
Taxes		68.0			67.4
Total operating expenses		680.2			715.0
Operating income		101.3			102.3
Other income (expense):
Interest charges		(39.2	)		(39.2	)
Other income, net		1.7			1.1
Preferred dividends of subsidiary		0.5			0.5
Net income	$	63.3 ========		$	63.7 ========

NSTAR

Condensed Consolidated Balance Sheets (Unaudited)

(in millions)		September 30,		December 31,
		2004		2003
Assets
Property, plant and equipment, net	$	3,507.9	$	3,376.7
Investments		72.3		68.9
Current assets		519.6		501.0
Regulatory assets and goodwill		2,172.1		2,294.2
Other deferred debits		77.0		79.9
Total assets	$	6,348.9 ==========	$	6,320.7 ==========
Capitalization and Liabilities
Common equity	$	1,426.7	$	1,361.6
Long-term debt and preferred stock		2,250.9		2,025.5
Current liabilities		706.2		939.9
Deferred taxes and unamortized investment tax credits		801.4		765.5
Regulatory liability - cost of removal		257.4		223.1
Other deferred credits		906.3		1,005.1
Total capitalization and liabilities	$	6,348.9 ==========	$	6,320.7 ==========

NSTAR

Energy Sales - Three Month Periods Ended September 30,

Retail Electric Sales - gWh

			%
	2004	2003	Change
Residential	1,715	1,827	(6.1	)%
Commercial	3,428	3,441	(0.4	)%
Industrial and other	479	498	(3.8	)%
Total	5,622 =====	5,766 =====	(2.5	)%

Firm Gas Sales and Transportation - BBTU

			%
	2004	2003	Change
Residential	1,462	1,517	(3.6	)%
Commercial	1,667	1,622	2.8	%
Industrial and other	965	984	(1.9	)%
Total	4,094 =====	4,123 =====	(0.7	)%