WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE. <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 DEC-31-1996 DEC-31-1995 <PERIOD-END> JUN-30-1996 JUN-30-1995 JUN-30-1996 JUN-30-1995 <PERIOD-TYPE> QTR-2 QTR-2 QTR-2 QTR-2 <BOOK-VALUE> PER-BOOK PER-BOOK PER-BOOK PER-BOOK <TOTAL-NET-UTILITY-PLANT> 3,889,104 0 0 0 <OTHER-PROPERTY-AND-INVEST> 384,926 0 0 0 <TOTAL-CURRENT-ASSETS> 483,007 0 0 0 <TOTAL-DEFERRED-CHARGES> 389,639 <F1> 0 0 0 <OTHER-ASSETS> 0 0 0 0 <TOTAL-ASSETS> 5,146,676 0 0 0 <COMMON> 64,970 0 0 0 <CAPITAL-SURPLUS-PAID-IN> 736,814 0 0 0 <RETAINED-EARNINGS> 850,939 0 0 0 <TOTAL-COMMON-STOCKHOLDERS-EQ> 1,650,222 <F3> 0 0 0 <PREFERRED-MANDATORY> 0 0 0 0 <PREFERRED> 132,016 <F2> 0 0 0 <LONG-TERM-DEBT-NET> 1,609,179 0 0 0 <SHORT-TERM-NOTES> 0 0 0 0 <LONG-TERM-NOTES-PAYABLE> 0 0 0 0 <COMMERCIAL-PAPER-OBLIGATIONS> 195,902 0 0 0 <LONG-TERM-DEBT-CURRENT-PORT> 52,585 0 0 0 <PREFERRED-STOCK-CURRENT> 0 0 0 0 <CAPITAL-LEASE-OBLIGATIONS> 0 0 0 0 <LEASES-CURRENT> 0 0 0 0 <OTHER-ITEMS-CAPITAL-AND-LIAB> 1,506,772 0 0 0 <TOT-CAPITALIZATION-AND-LIAB> 5,146,676 0 0 0 <GROSS-OPERATING-REVENUE> 1,137,330 1,091,863 551,110 533,547 <INCOME-TAX-EXPENSE> 61,883 50,742 22,705 20,779 <OTHER-OPERATING-EXPENSES> 911,359 907,855 459,272 452,887 <TOTAL-OPERATING-EXPENSES> 973,242 958,597 481,977 473,666 <OPERATING-INCOME-LOSS> 164,088 133,266 69,133 59,881 <OTHER-INCOME-NET> 4,996 11,203 2,863 5,489 <INCOME-BEFORE-INTEREST-EXPEN> 169,084 144,469 71,996 65,370 <TOTAL-INTEREST-EXPENSE> 64,737 54,899 33,134 27,558 <NET-INCOME> 96,497 81,193 35,001 33,531 <PREFERRED-STOCK-DIVIDENDS> 4,165 <F2> 4,345 <F2> 1,993 <F2> 2,173 <F2> <EARNINGS-AVAILABLE-FOR-COMM> 96,497 81,193 35,001 33,531 <COMMON-STOCK-DIVIDENDS> 76,637 75,689 38,332 38,332 <TOTAL-INTEREST-ON-BONDS> 55,122 53,144 27,278 27,065 <CASH-FLOW-OPERATIONS> 274,505 205,660 100,048 61,152 <EPS-PRIMARY> $1.49 $1.25 $.54 $.52 <EPS-DILUTED> $1.49 $1.25 $.54 $.52 <FN> <F1> Total deferred charges includes other assets. <F2> Preferred stock reflects preferred stock of subsidiaries. Preferred stock dividends reflect preferred stock dividends of subsidiaries. <F3> Total common stockholders equity is reflected net of treasury stock at cost. </FN>