SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of the
Securities Exchange Act of 1934
Date of Earliest Event Reported: February 14, 2001
NEW ENGLAND POWER COMPANY
(exact name of registrant as specified in charter)
Massachusetts 1-6564 04-1663070
(state or other (Commission (I.R.S. Employer
jurisdiction of File No.) Identification No.)
incorporation)
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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New England Power Company (the Company) has a 22.5% ownership
interest in the Vermont Yankee Nuclear Power Corporation (Vermont
Yankee). In November 1999, Vermont Yankee entered into an
agreement with AmerGen Energy Company (AmerGen), a joint venture
between PECO Energy and British Energy, to sell the assets of
Vermont Yankee. Approval of the sale was pending before the
Vermont Public Service Board (VPSB). Since that time, the
agreement had been revised and several other parties indicated to
the VPSB that they were prepared to make an offer for Vermont
Yankee. On February 14, 2001, the VPSB rejected the AmerGen sale
proposal, stating it believes that there is additional value
available from the market. On February 15, 2001, Vermont Yankee
announced that it intends to work with state regulators to develop
an auction process for the sale of the plant. Vermont Yankee's
goal is to complete the auction by early summer 2001 and achieve
regulatory approval by the end of 2001.
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 POWER COMPANY
s/John G. Cochrane
By
John G. Cochrane
Treasurer
Date: February 20, 2001