SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of the
Securities Exchange Act of 1934
Date of Earliest Event Reported: September 8, 1995
NEW ENGLAND ELECTRIC SYSTEM
(exact name of registrant as specified in charter)
Massachusetts 1-3446 04-1663060
(state or other (Commission (I.R.S. Employer
jurisdiction of File No.) Identification No.)
organization)
25 Research Drive, Westborough, Massachusetts 01582
(Address of principal executive offices)
(508) 389-2000
(Registrant's telephone number, including area code)
Item 5. Other Events
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On September 8, 1995, The Narragansett Electric Company
(Narragansett), a subsidiary of New England Electric System, and
the Rhode Island Division of Public Utilities and Carriers,
represented by the Rhode Island Attorney General, agreed on a
settlement covering the revenue requirement portion of
Narragansett's rate case. The settlement is not opposed by the
other parties in the case. Under the settlement, Narragansett
would be authorized to increase overall revenues by 3.6 percent,
effective December 1, 1995. This rate increase would be the
first since 1992. The allocation of the increase and rate design
remain to be resolved.
Under the settlement, revenues would increase by $17.8
million, rather than the $30.5 million requested in
Narragansett's initial filing. This settlement does not affect
Narragansett's recent agreement with Governor Almond under which
shareholders will bear the costs associated with new discounts
for manufacturers. The settlement is subject to approval by the
Rhode Island Public Utilities Commission.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this Current Report on
Form 8-K to be signed on its behalf by the undersigned thereunto
duly authorized.
NEW ENGLAND ELECTRIC SYSTEM
s/Alfred D. Houston
By _________________________
Alfred D. Houston,
Executive Vice President
and Chief Financial Officer
September 11, 1995
The name "New England Electric System" means the trustee or
trustees for the time being (as trustee or trustees but not
personally) under an agreement and declaration of trust dated
January 2, 1926, as amended, which is hereby referred to, and a
copy of which as amended has been filed with the Secretary of the
Commonwealth of Massachusetts. Any agreement, obligation, or
liability made, entered into or incurred by or on behalf of New
England Electric System binds only its trust estate, and no
shareholder, director, trustee, officer or agent thereof assumes
or shall be held to any liability therefor.