SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: October 2, 1997
EASTERN UTILITIES ASSOCIATES
(Exact name of registrant as specified in this charter)
Massachusetts 1-5366 04-1271872
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
One Liberty Square, Boston, Massachusetts 02109
(Address of principal executive offices) (Zip Code)
Item 5. Other Events.
In a press release dated October 1, 1997, Eastern Utilities Associates (EUA)
and an affiliate of Duke Energy Corp. (Duke) announced that they are
terminating their joint venture, which was formed in 1995, to engage in power
marketing and other energy-related services throughout New England. Financial
terms of the agreement were not disclosed, but EUA anticipates a one-time
positive impact on its third-quarter financial results from the termination.
The amount of the gain has not yet been finally determined.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
Exhibit 99 Press Release dated October 1, 1997.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
EASTERN UTILITIES ASSOCIATES
(Registrant)
By: /s/ John R. Stevens
----------------------
John R. Stevens
President
Date: October 2, 1997
October 1, 1997
Upon Receipt
Clifford J. Hebert, Jr.
(617) 357-9590
Eastern Utilities/Duke Partnership Terminated
BOSTON, Oct. 1 - Eastern Utilities Associates (NYSE: EUA), and an affiliate of
Duke Energy Corp. (NYSE: DUK), today announced they are terminating their New
England power marketing joint venture.
Financial terms of the agreement were not disclosed, but EUA Treasurer Clifford
J. Hebert, Jr., said EUA anticipates a one-time positive impact on its third-
quarter financial results from the termination. The amount of the gain has not
yet been finally determined.
EUA and a Duke affiliate had agreed in December 1995 to form the joint venture
to engage in power marketing and other energy-related services throughout New
England. "Today's decision enables EUA and Duke to pursue market opportunities
in New England on an individual basis," Hebert said.
EUA is a Boston-based diversified energy services company whose shares are
traded on the New York and Pacific Stock Exchanges under the ticker symbol EUA.
Subsidiaries are Blackstone Valley Electric Co.; Eastern Edison Co.; Newport
Electric Corp.; EUA Cogenex Corp.; EUA Energy Investment Corp.; EUA Ocean State
Corp.; EUA Service Corp.; EUA Energy Services, Inc.; and Montaup Electric Co.
Together, the companies are known as the EUA System. Information about EUA is
available on the World Wide Web at http://www.eua.com.
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