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Exhibit 99.1
Report of Independent Accountants
To the Board of Trustees and Shareholders
We have reviewed the accompanying condensed consolidated balance sheet of Boston
Edison as of June 30, 2000, and the related condensed consolidated statements of
income and comprehensive income of retained earnings for the three and six-month
periods ended June 30, 2000 and of cash flows for the six month period ended
June 30, 2000. These consolidated financial statements are the responsibility
of management.
We conducted our review in accordance with standards established by the American
Institute of Certified Public Accountants. A review of interim financial
information consists principally of applying analytical procedures to financial
data and making inquiries of persons responsible for financial and accounting
matters. It is substantially less in scope than an audit conducted in
accordance with generally accepted auditing standards, the objective of which is
the expression of an opinion regarding the financial statements taken as a
whole. Accordingly, we do not express such an opinion.
Based on our review, we are not aware of any material modifications that should
be made to the accompanying condensed consolidated interim financial statements
in order for them to be in conformity with generally accepted accounting
principles.
We previously audited in accordance with generally accepted auditing standards,
the consolidated balance sheet as of December 31, 1999, and the related
consolidated statement of income, of retained earnings and of cash flows for the
year then ended (not presented herein), and in our report dated January 26, 2000
we expressed an unqualified opinion on those consolidated financial statements.
In our opinion, the accompanying condensed consolidated balance sheet
information as of June 30, 2000, is fairly stated in all material respects in
relation to the consolidated balance sheet from which it has been derived.
PricewaterhouseCoopers LLP
Boston, Massachusetts
August 11, 2000
