<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. <MULTIPLIER> 1,000 <FISCAL-YEAR-END> DEC-31-1996 DEC-31-1995 <PERIOD-END> MAR-31-1996 MAR-31-1995 <PERIOD-TYPE> 3-MOS 3-MOS <BOOK-VALUE> PER-BOOK PER-BOOK <TOTAL-NET-UTILITY-PLANT> 3,878,680 0 <OTHER-PROPERTY-AND-INVEST> 395,306 0 <TOTAL-CURRENT-ASSETS> 494,776 0 <TOTAL-DEFERRED-CHARGES> 406,299 <F1> 0 <OTHER-ASSETS> 0 0 <TOTAL-ASSETS> 5,175,061 0 <COMMON> 64,970 0 <CAPITAL-SURPLUS-PAID-IN> 736,823 0 <RETAINED-EARNINGS> 854,720 0 <TOTAL-COMMON-STOCKHOLDERS-EQ> 1,654,112 <F4> 0 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 147,016 <F2> 0 <LONG-TERM-DEBT-NET> 1,658,291 0 <SHORT-TERM-NOTES> 164,711 <F3> 0 <LONG-TERM-NOTES-PAYABLE> 0 0 <COMMERCIAL-PAPER-OBLIGATIONS> 0 0 <LONG-TERM-DEBT-CURRENT-PORT> 17,085 0 <PREFERRED-STOCK-CURRENT> 0 0 <CAPITAL-LEASE-OBLIGATIONS> 0 0 <LEASES-CURRENT> 0 0 <OTHER-ITEMS-CAPITAL-AND-LIAB> 1,533,846 0 <TOT-CAPITALIZATION-AND-LIAB> 5,175,061 0 <GROSS-OPERATING-REVENUE> 586,220 558,316 <INCOME-TAX-EXPENSE> 39,178 29,963 <OTHER-OPERATING-EXPENSES> 452,087 454,968 <TOTAL-OPERATING-EXPENSES> 491,265 484,931 <OPERATING-INCOME-LOSS> 94,955 73,385 <OTHER-INCOME-NET> 2,133 5,714 <INCOME-BEFORE-INTEREST-EXPEN> 97,088 79,099 <TOTAL-INTEREST-EXPENSE> 31,603 27,341 <NET-INCOME> 61,496 47,662 <PREFERRED-STOCK-DIVIDENDS> 2,172 <F2> 2,172 <F2> <EARNINGS-AVAILABLE-FOR-COMM> 61,496 47,662 <COMMON-STOCK-DIVIDENDS> 38,305 37,357 <TOTAL-INTEREST-ON-BONDS> 27,844 26,079 <CASH-FLOW-OPERATIONS> 174,457 144,508 <EPS-PRIMARY> $.95 $.73 <EPS-DILUTED> $.95 $.73 <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. <F4> Total common stockholders equity is reflected net of treasury stock at cost. </FN>