Exhibit 99.1


                Report of Independent Accountants

To the Shareholder and Board of Directors of Boston Edison
Company:

We have reviewed the accompanying condensed consolidated balance
sheet of Boston Edison Company and its subsidiaries as of June
30, 2003, and the related condensed consolidated statements of
income, and retained earnings for each of the three-month and six-
month periods ended June 30, 2003 and June 30, 2002, and the
condensed consolidated statement of cash flows for the six-month
periods ended June 30, 2003 and June 30, 2002.  These interim
financial statements are the responsibility of the Company's
management.

We conducted our review in accordance with standards established
by the American Institute of Certified Public Accountants.  A
review of interim financial information consists principally of
applying analytical procedures and making inquiries of persons
responsible for financial and accounting matters.  It is
substantially less in scope than an audit conducted in accordance
with generally accepted auditing standards, the objective of
which is the expression of an opinion regarding the financial
statements taken as a whole.  Accordingly, we do not express such
an opinion.

Based on our review, we are not aware of any material
modifications that should be made to the accompanying condensed
consolidated interim financial statements for them to be in
conformity with accounting principles generally accepted in the
United States of America.

We previously audited in accordance with auditing standards
generally accepted in the United States of America, the
consolidated balance sheet as of December 31, 2002, and the
related consolidated statements of income, comprehensive income,
retained earnings and of cash flows for the year then ended (not
presented herein), and in our report dated January 22, 2003 we
expressed an unqualified opinion on those consolidated financial
statements.  In our opinion, the information set forth in the
accompanying condensed consolidated balance sheet as of December
31, 2002 is fairly stated in all material respects in relation to
the consolidated balance sheet from which it has been derived.

PricewaterhouseCoopers LLP
Boston, Massachusetts
August 8, 2003