<ARTICLE> UT <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED BALANCE SHEET AND RELATED CONSOLIDATED STATEMENTS OF INCOME, RETAINED EARNINGS AND CASH FLOWS OF NEW ENGLAND ELECTRIC SYSTEM, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000 <FISCAL-YEAR-END> DEC-31-1995 DEC-31-1994 <PERIOD-END> MAR-31-1995 MAR-31-1994 <PERIOD-TYPE> 3-MOS 3-MOS <BOOK-VALUE> PER-BOOK PER-BOOK <TOTAL-NET-UTILITY-PLANT> 3,749,525 0 <OTHER-PROPERTY-AND-INVEST> 409,830 0 <TOTAL-CURRENT-ASSETS> 487,131 0 <TOTAL-DEFERRED-CHARGES> 422,016 <F1> 0 <OTHER-ASSETS> 0 0 <TOTAL-ASSETS> 5,068,502 0 <COMMON> 64,970 0 <CAPITAL-SURPLUS-PAID-IN> 736,823 0 <RETAINED-EARNINGS> 789,350 0 <TOTAL-COMMON-STOCKHOLDERS-EQ> 1,591,143 0 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 147,016 <F2> 0 <LONG-TERM-DEBT-NET> 1,600,325 0 <SHORT-TERM-NOTES> 163,375 <F3> 0 <LONG-TERM-NOTES-PAYABLE> 0 0 <COMMERCIAL-PAPER-OBLIGATIONS> 0 0 <LONG-TERM-DEBT-CURRENT-PORT> 37,520 0 <PREFERRED-STOCK-CURRENT> 0 0 <CAPITAL-LEASE-OBLIGATIONS> 0 0 <LEASES-CURRENT> 0 0 <OTHER-ITEMS-CAPITAL-AND-LIAB> 1,529,123 0 <TOT-CAPITALIZATION-AND-LIAB> 5,068,502 0 <GROSS-OPERATING-REVENUE> 558,316 576,906 <INCOME-TAX-EXPENSE> 29,963 45,177 <OTHER-OPERATING-EXPENSES> 454,968 439,867 <TOTAL-OPERATING-EXPENSES> 484,931 485,044 <OPERATING-INCOME-LOSS> 73,385 91,862 <OTHER-INCOME-NET> 5,714 4,313 <INCOME-BEFORE-INTEREST-EXPEN> 79,099 96,175 <TOTAL-INTEREST-EXPENSE> 27,341 22,818 <NET-INCOME> 47,662 69,273 <PREFERRED-STOCK-DIVIDENDS> 2,172 <F2> 2,180 <F2> <EARNINGS-AVAILABLE-FOR-COMM> 47,662 69,273 <COMMON-STOCK-DIVIDENDS> 37,357 36,383 <TOTAL-INTEREST-ON-BONDS> 26,079 22,358 <CASH-FLOW-OPERATIONS> 144,508 155,859 <EPS-PRIMARY> $.73 $1.07 <EPS-DILUTED> $.73 $1.07 <FN> <F1> Total deferred charges includes other assets and accrued Yankee Atomic costs. <F2> Preferred stock reflects preferred stock of subsidiaries. Preferred stock dividends reflect preferred stock dividends of subsidiaries. <F3> Short-term notes includes commercial paper obligations. </FN>