Filed Pursuant to Rule 424(b)(5) Registration No. 33-50099 PROSPECTUS SUPPLEMENT (To Prospectus dated November 22, 1993) EASTERN UTILITIES ASSOCIATES 1,500,000 Common Shares ($5 Par Value) This Prospectus Supplement relates to the Prospectus dated November 22, 1993 prepared for use in connection with the continuing program of acquisitions by EUA Cogenex Corporation ("EUA Cogenex"), a wholly-owned subsidiary of Eastern Utilities Associates ("EUA"). Such Prospectus provides for the exchange by EUA of up to 1,500,000 Common Shares of EUA in exchange for shares of capital stock, partnership interest or other assets representing an interest, direct or indirect, in other companies or other entities which EUA Cogenex may acquire. Such Prospectus also provides for the resale of Common Shares received by affiliates of a company acquired by EUA Cogenex. Northeast Energy Management, Inc. ("NEM"), a Maine corporation was acquired indirectly by EUA Cogenex on January 31, 1994 through a merger of NEM with and into EUA Acquisition Corp., a wholly-owned subsidiary of EUA Cogenex, and pursuant to which the shareholder of NEM, Angus S. King, Jr., received 464,579 Common Shares of EUA in exchange for the assets of NEM. A Prospectus Supplement dated January 31, 1994 was filed in order to provide for the resale by Mr. King, who resides at 15 Potter Street, Brunswick, Maine 04011, from time to time, in the aggregate, of 4,645 of such Common Shares. This Prospectus Supplement provides for the resale from time to time by Mr. King of his remaining 459,934 Common Shares. The resales shall be made directly to investors or through a securities firm acting as an underwriter, broker or dealer. The manner of resale is more fully described in the Prospectus under the heading "OFFERED SECURITIES". THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. _______________ The date of this Prospectus Supplement is March 28, 1994