Exhibit 99
                      MONTAUP ELECTRIC FILES $10.1 M
                       REDUCTION IN WHOLESALE RATES

     Boston, March 21 -- Montaup Electric Co., the wholesale electric
generation and transmission subsidiary of Eastern Utilities Associates (NYSE
symbol: EUA), today filed with the Federal Energy Regulatory Commission (FERC)
for authorization to reduce its wholesale rates by $10.1 million, or 3 percent.

    "Reducing Montaup's wholesale rates helps all the customers of our retail
electric subsidiaries," said Donald G. Pardus, EUA's Chairman and Chief
Executive Officer in announcing the filing.  "It is particularly significant to
our industrial customers.  By reducing their costs of doing business, we can
help them continue to remain competitive in their industries and continue their
important economic contributions to our area."

    Montaup supplies electricity at wholesale to EUA's retail electric
utilities -- Eastern Edison Co. in Massachusetts and Blackstone Valley Electric
Co. and Newport Electric Corp. in Rhode Island -- and to two non-affiliated
municipal utilities.

    FERC can approve Montaup's requested reduction to take effect as early as
May 21, pending final adjudication and approval.

    EUA is a Boston-based investor-owned holding company whose shares are
traded on the New York and Pacific Stock Exchanges.  Subidiaries are Blackstone
Valley Electric Co., Eastern Edison Co., Newport Electric Corp., EUA Cogenex
Corp., EUA Energy Investment Corp., EUA Ocean State Corp., EUA Service Corp.,
and Montaup Electric Co.  Together, the companies are known as the EUA System.