<PAGE>
Exhibit A-4
CAPITAL STRUCTURE OF NATIONAL GRID USA COMPANIES
AT SEPTEMBER 30, 2000
NATIONAL GRID USA
CONSOLIDATED
($mm) (%)
Short-term Debt(1) 125.4 2.4
Long-term Debt 1,042.1 19.5
Preferred Stock 49.5 0.9
Minority Interest 30.7 0.6
Common Stock Equity 4,090.1 76.6
------- -----
Total 5,337.8 100.0
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<TABLE>
<CAPTION>
RETAIL COMPANIES
THE GRANITE NEW
MASSACHUSETTS NARRAGANSETT STATE NANTUCKET ENGLAND
ELECTRIC ELECTRIC ELECTRIC ELECTRIC POWER
COMPANY COMPANY COMPANY COMPANY COMPANY
($mm) (%) ($mm) (%) ($mm) (%) ($mm) (%) ($mm)
(%)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
<C> <C>
Short-term Debt(1) 202.5 9.4 111.4 9.9 - - 4.1
8.1 163.5 11.9
Long-term Debt 372.6 17.4 153.9 13.7 20.0 30.4
24.7 48.9 371.8 27.1
Preferred Stock 40.7 1.9 7.2 0.6 - - - -
1.6 0.1
Minority Interest - - - - - - - - - -
Common Stock Equity 1,531.4 71.3 851.3 75.8 45.8
69.6 21.7 43.0 835.4 60.9
------- ---- ------- ---- ---- ---- ----
---- ------ ----
Total 2,147.2 100.0 1,123.8 100.0 65.8 100.0
50.5 100.0 1,372.3 100.0
------- ---- ------- ---- ---- ---- ----
---- ------ ----
</TABLE>
TRANSMISSION COMPANIES
<TABLE>
<CAPTION>
NEW ENGLAND
HYDRO NEW ENGLAND NEW ENGLAND NEW ENGLAND
TRANSMISSION HYDRO HYDRO ELECTRIC
ELECTRIC TRANSMISSION FINANCE TRANSMISSION
CO.,INC. CORPORATION COMPANY CORPORATION
($mm) (%) ($mm) (%) ($mm) (%) ($mm) (%)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Short-term Debt(1) 6.8 6.3 4.6 7.1 11.0 10.5
7.0 50.0
Long-term Debt 58.7 54.8 35.1 54.4 93.8 89.5
5.4 38.6
Preferred Stock - - - - - - - -
Minority Interest - - - - - - - -
Common Stock Equity 41.6 38.9 24.9 38.5 - -
1.6 11.4
------- ---- ------- ---- ---- ---- ---- ----
Total 107.1 100.0 64.6 100.0 104.8 100.0 14.0
100.0
------- ---- ------- ---- ---- ---- ---- ----
(1)Short-term debt includes the portion of long-term debt due within a year.
</TABLE>
<PAGE>CAPITAL STRUCTURE OF NATIONAL GRID USA COMPANIES
AT SEPTEMBER 30, 2000
SERVICE COMPANIES
<TABLE>
<CAPTION>
NATIONAL
NATIONAL GRID NATIONAL
GRID USA TRANSMISSION GRID
SERVICE SERVICE USA
CO.,INC. CORPORATION (Parent)
($mm) (%) ($mm) (%) ($mm) (%)
<S> <C> <C> <C> <C> <C> <C>
Short-term Debt(1) - - - - 46.5
1.1
Long-term Debt - - - - - -
Preferred Stock - - - - - -
Minority Interest - - - - - -
Common Stock Equity 31.3 100.0 - - 4,087.7
99.9
------- ---- ------- ---- ------- ----
Total 31.3 100.0 - - 4,134.2 100.0
------- ---- ------- ---- ------- ----
</TABLE>
UNREGULATED COMPANIES
<TABLE>
<CAPTION>
NEW GRANITE
ENGLAND NEES EUA STATE
ENERGY(2) ENERGY ENERGY ENERGY(2) METROWEST
INC. INC. INVESTMENT INC. REALTY, LLC
($mm) (%) ($mm) (%) ($mm) (%) ($mm) (%) ($mm)
(%)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
<C> <C>
Short-term Debt(1) - - - - - - - - - -
Long-term Debt 23.6 (1242.1) 172.5 104.5 - -
0.4 - 7.7 74.8
Preferred Stock - - - - - - - - - -
Minority Interest - - - - - - - - - -
Common Stock Equity (25.5) 1342.1 (7.5) (4.5) 19.6
100.0 (0.4) - 2.6 25.2
------- ----- ------- ---- ---- ---- ----
---- ---- ----
Total (1.9) 100.0 165.0 100.0 19.6 100.0 -
- 10.3 100.0
------- ----- ------- ---- ---- ---- ----
---- ---- ----
</TABLE>
WAYFINDER NEES
GROUP COMMUNICATIONS
INC. INC.
($mm) (%) ($mm) (%)
Short-term Debt(1) - - - -
Long-term Debt 12.4 153.1 46.8 27.5
Preferred Stock - - - -
Minority Interest - - - -
Common Stock Equity (4.3) (53.1) 123.3 72.5
------- ---- ------- ----
Total 8.1 100.0 170.1 100.0
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(1)Short-term debt includes the portion of long-term debt due within a year.
(2)Inactive
