Western Massachusetts Electric 8-K Results of Operations and Financial Condition

Exhibit 99.2

NORTHEAST UTILITIES AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
	Three Months Ended March 31,
(Thousands of Dollars, Except Share Information)		2011		2010
Operating Revenues	$	1,235,251	$	1,339,420
Operating Expenses:
Fuel, Purchased and Net Interchange Power		474,109		603,349
Other Operating Expenses		251,978		248,273
Maintenance		67,764		45,637
Depreciation		73,951		78,656
Amortization of Regulatory Assets/(Liabilities), Net		34,407		(8,327)
Amortization of Rate Reduction Bonds		17,282		59,570
Taxes Other Than Income Taxes		88,403		85,599
Total Operating Expenses		1,007,894		1,112,757
Operating Income		227,357		226,663
Interest Expense:
Interest on Long-Term Debt		57,399		57,270
Interest on Rate Reduction Bonds		2,578		6,690
Other Interest		(1,428)		3,302
Interest Expense		58,549		67,262
Other Income, Net		10,313		8,057
Income Before Income Tax Expense		179,121		167,458
Income Tax Expense		63,537		79,857
Net Income		115,584		87,601
Net Income Attributable to Noncontrolling Interests		1,429		1,390
Net Income Attributable to Controlling Interests	$	114,155	$	86,211
Basic and Diluted Earnings Per Common Share	$	0.64	$	0.49
Dividends Declared Per Common Share	$	0.28	$	0.26
Weighted Average Common Shares Outstanding:
Basic		177,188,207		176,349,762
Diluted		177,480,996		176,537,472
The data contained in this report is preliminary and is unaudited.  This report is being submitted for the sole purpose of providing information to present shareholders about Northeast Utilities and Subsidiaries and is not a representation, prospectus, or intended for use in connection with any purchase or sale of securities.

NORTHEAST UTILITIES AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
		Three Months Ended March 31,
(Thousands of Dollars)		2011		2010
Operating Activities:
Net Income	$	115,584	$	87,601
Adjustments to Reconcile Net Income to Net Cash Flows
Provided by Operating Activities:
Bad Debt Expense		4,947		9,556
Depreciation		73,951		78,656
Deferred Income Taxes		52,429		33,248
Pension and PBOP Expense, Net of PBOP Contributions		28,231		23,331
Regulatory Overrecoveries, Net		44,420		6,066
Amortization of Regulatory Assets/(Liabilities), Net		34,407		(8,327)
Amortization of Rate Reduction Bonds		17,282		59,570
Derivative Assets and Liabilities		(3,651)		(2,594)
Other		(1,776)		(41,434)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net		8,199		(7,258)
Fuel, Materials and Supplies		42,990		48,431
Taxes Receivable/Accrued		18,312		4,639
Accounts Payable		(29,278)		(46,188)
Other Current Assets and Liabilities		(33,281)		(19,594)
Net Cash Flows Provided by Operating Activities		372,766		225,703
Investing Activities:
Investments in Property, Plant and Equipment		(236,689)		(202,487)
Proceeds from Sales of Marketable Securities		38,646		21,331
Purchases of Marketable Securities		(39,230)		(21,825)
Other Investing Activities		328		(478)
Net Cash Flows Used in Investing Activities		(236,945)		(203,459)
Financing Activities:
Cash Dividends on Common Shares		(48,588)		(45,088)
Cash Dividends on Preferred Stock		(1,390)		(1,390)
Decrease in Short-Term Debt		(78,000)		-
Issuance of Long-Term Debt		-		95,000
Retirements of Rate Reduction Bonds		(16,868)		(66,569)
Other Financing Activities		989		(1,137)
Net Cash Flows Used in Financing Activities		(143,857)		(19,184)
Net (Decrease)/Increase in Cash and Cash Equivalents		(8,036)		3,060
Cash and Cash Equivalents - Beginning of Period		23,395		26,952
Cash and Cash Equivalents - End of Period	$	15,359	$	30,012
The data contained in this report is preliminary and is unaudited.  This report is being submitted for the sole purpose of providing information to present shareholders about Northeast Utilities and Subsidiaries and is not a representation, prospectus, or intended for use in connection with any purchase or sale of securities.