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

EXHIBIT 99.2

NORTHEAST UTILITIES AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
		September 30,		December 31,
(Thousands of Dollars)		2011		2010
ASSETS
Current Assets:
	Cash and Cash Equivalents	$	16,721	$	23,395
	Receivables, Net		494,552		523,644
	Unbilled Revenues		138,110		208,834
	Taxes Receivable		203		89,638
	Fuel, Materials and Supplies		237,794		244,043
	Regulatory Assets		235,460		238,699
	Marketable Securities		74,525		78,306
	Prepayments and Other Current Assets		130,010		100,441
Total Current Assets			1,327,375		1,507,000
Property, Plant and Equipment, Net			10,096,063		9,567,726
Deferred Debits and Other Assets:
	Regulatory Assets		2,706,053		2,756,580
	Goodwill		287,591		287,591
	Marketable Securities		52,181		51,201
	Derivative Assets		91,430		123,242
	Other Long-Term Assets		168,024		179,261
Total Deferred Debits and Other Assets			3,305,279		3,397,875
Total Assets		$	14,728,717	$	14,472,601
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 BALANCE SHEETS
(Unaudited)
		September 30,		December 31,
(Thousands of Dollars)		2011		2010
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable to Banks		$	30,000	$	267,000
Long-Term Debt - Current Portion			334,327		66,286
Accounts Payable			476,214		417,285
Obligations to Third Party Suppliers			77,760		74,659
Accrued Taxes			115,285		107,067
Accrued Interest			77,319		74,740
Regulatory Liabilities			174,562		99,403
Derivative Liabilities			110,653		71,501
Other Current Liabilities			139,187		167,206
Total Current Liabilities			1,535,307		1,345,147
Rate Reduction Bonds			130,374		181,572
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes			1,814,976		1,636,750
Regulatory Liabilities			276,222		339,655
Derivative Liabilities			909,252		909,668
Accrued Pension			701,993		802,195
Other Long-Term Liabilities			671,046		695,915
Total Deferred Credits and Other Liabilities			4,373,489		4,384,183
Capitalization:
Long-Term Debt			4,614,697		4,632,866
Noncontrolling Interest in Consolidated Subsidiary:
	Preferred Stock Not Subject to Mandatory Redemption		116,200		116,200
Equity:
	Common Shareholders' Equity:
	Common Shares		980,054		978,909
	Capital Surplus, Paid In		1,792,593		1,777,592
	Retained Earnings		1,587,528		1,452,777
	Accumulated Other Comprehensive Loss		(55,214)		(43,370)
	Treasury Stock		(348,764)		(354,732)
Common Shareholders' Equity			3,956,197		3,811,176
Noncontrolling Interests			2,453		1,457
Total Equity			3,958,650		3,812,633
Total Capitalization			8,689,547		8,561,699
Total Liabilities and Capitalization		$	14,728,717	$	14,472,601
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 INCOME
(Unaudited)
			Three Months Ended September 30,				Nine Months Ended September 30,
(Thousands of Dollars, Except Share Information)			2011		2010		2011		2010
Operating Revenues			$	1,114,892	$	1,243,337	$	3,397,624	$	3,694,182
Operating Expenses:
	Fuel, Purchased and Net Interchange Power			399,941		494,125		1,214,350		1,539,703
	Other Operating Expenses			237,576		233,472		752,372		688,409
	Maintenance			58,949		49,951		205,538		162,405
	Depreciation			75,196		70,954		222,784		228,685
	Amortization of Regulatory Assets, Net			36,740		50,341		88,409		50,908
	Amortization of Rate Reduction Bonds			17,680		60,434		52,047		175,000
	Taxes Other Than Income Taxes			84,994		84,427		252,817		244,431
		Total Operating Expenses		911,076		1,043,704		2,788,317		3,089,541
Operating Income				203,816		199,633		609,307		604,641
Interest Expense:
	Interest on Long-Term Debt			57,461		57,802		171,905		173,594
	Interest on Rate Reduction Bonds			2,018		4,661		6,889		16,985
	Other Interest			4,453		3,435		5,922		9,778
		Interest Expense		63,932		65,898		184,716		200,357
Other Income, Net				1,430		10,118		19,077		19,726
Income Before Income Tax Expense				141,314		143,853		443,668		424,010
Income Tax Expense				49,883		41,918		157,934		161,126
Net Income				91,431		101,935		285,734		262,884
Net Income Attributable to Noncontrolling Interests				1,470		1,411		4,340		4,204
Net Income Attributable to Controlling Interests			$	89,961	$	100,524	$	281,394	$	258,680
Basic Earnings Per Common Share			$	0.51	$	0.57	$	1.59	$	1.47
Diluted Earnings Per Common Share			$	0.51	$	0.57	$	1.58	$	1.46
Dividends Declared Per Common Share			$	0.28	$	0.26	$	0.83	$	0.77
Weighted Average Common Shares Outstanding:
	Basic			177,497,862		176,752,714		177,344,481		176,557,889
	Diluted			177,835,348		177,012,278		177,647,694		176,762,088
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)
			Nine Months Ended September 30,
(Thousands of Dollars)			2011		2010
Operating Activities:
	Net Income		$	285,734	$	262,884
	Adjustments to Reconcile Net Income to Net Cash Flows
		Provided by Operating Activities:
		Bad Debt Expense		12,435		24,632
		Depreciation		222,784		228,685
		Deferred Income Taxes		133,528		105,070
		Pension and PBOP Expense		103,106		74,744
		Pension and PBOP Contributions		(159,220)		(78,035)
		Regulatory (Underrecoveries)/Overrecoveries, Net		(26,001)		44,479
		Amortization of Regulatory Assets, Net		88,409		50,908
		Amortization of Rate Reduction Bonds		52,047		175,000
		Derivative Assets and Liabilities		(33,767)		(9,228)
		Other		(14,802)		(46,190)
	Changes in Current Assets and Liabilities:
		Receivables and Unbilled Revenues, Net		61,657		20,905
		Fuel, Materials and Supplies		(4,072)		33,337
		Taxes Receivable/Accrued		109,410		(12,904)
		Accounts Payable		66,618		(59,601)
		Other Current Assets and Liabilities		(9,419)		28,961
Net Cash Flows Provided by Operating Activities				888,447		843,647
Investing Activities:
	Investments in Property, Plant and Equipment			(749,060)		(677,579)
	Proceeds from Sales of Marketable Securities			116,463		146,305
	Purchases of Marketable Securities			(118,251)		(148,075)
	Proceeds from Sale of Assets			46,841		-
	Other Investing Activities			(5,849)		(10,412)
Net Cash Flows Used in Investing Activities				(709,856)		(689,761)
Financing Activities:
	Cash Dividends on Common Shares			(145,865)		(135,349)
	Cash Dividends on Preferred Stock			(4,169)		(4,169)
	(Decrease)/Increase in Short-Term Debt			(237,000)		55,687
	Issuance of Long-Term Debt			382,000		145,000
	Retirements of Long-Term Debt			(124,086)		(4,286)
	Retirements of Rate Reduction Bonds			(51,198)		(195,724)
	Other Financing Activities			(4,947)		(818)
Net Cash Flows Used in Financing Activities				(185,265)		(139,659)
Net (Decrease)/Increase in Cash and Cash Equivalents				(6,674)		14,227
Cash and Cash Equivalents - Beginning of Period				23,395		26,952
Cash and Cash Equivalents - End of Period			$	16,721	$	41,179
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.