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File No. 33-50015
Rule 424(b)(2)
PRICING SUPPLEMENT NO. 1 Dated February 7, 1995
(To Prospectus Dated November 3, 1993)
THE NARRAGANSETT ELECTRIC COMPANY
(A SUBSIDIARY OF NEW ENGLAND ELECTRIC SYSTEM)
SECURED MEDIUM-TERM NOTES
(First Mortgage Bonds, Series V)
Issue 95-1
Interest Rate: 7.81%
Maturity Date: February 16, 1998
Principal Amount: $5,000,000
Acceptance Date: February 7, 1995
Original Issue Date: February 14, 1995
Form of Delivery: Book-entry only
Depositary: The Depository Trust Company
55 Water Street
New York, New York
Issue: 95-1
Original Issue
Discount New Bond: No
Price of New Bonds:
Initial
Price to Underwriting Proceeds to
Public Discounts Company
----------- ------------ -----------
Per New Bond 100.00% 0.350% 99.650%
Total $5,000,000 $17,500 $4,982,500
REDEMPTION PROVISIONS
The New Bonds will not be redeemable at the option of the
Company, as a whole or in part, at any time prior to maturity.
DISTRIBUTION OF THE NEW BONDS
The New Bonds were sold to CS First Boston Corporation as
Agent in connection with the offering of the New Bonds described
in this Pricing Supplement.