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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of the
Securities Exchange Act of 1934
Date of Earliest Event Reported: February 25, 1998
THE NARRAGANSETT ELECTRIC COMPANY
(exact name of registrant as specified in charter)
Rhode Island 1-7471 05-0187805
(state or other (Commission (I.R.S. Employer
jurisdiction of File No.) Identification No.)
incorporation)
280 Melrose Street, Providence, Rhode Island 02907
(Address of principal executive offices)
(401) 784-7000
(Registrant's telephone number, including area code)
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Item 5. Other Events
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As previously reported, The Narragansett Electric Company, a
subsidiary of New England Electric System, has been seeking
approval from various state and federal regulatory agencies for
the sale of its generating business to PG&E Corporation's
affiliate, U.S. Gen New England, Inc. (USGen). Several parties
have objected to the sale on various grounds, including
allegations that following the sale, USGen would be able to
exercise unlawful levels of market power. On February 25, 1998,
the Federal Energy Regulatory Commission (FERC) issued an order
that rejected the market power allegations, approved the sale and
conditionally approved most supporting filings. While the timing
of receipt of final regulatory approvals is uncertain, receipt of
all approvals is unlikely before mid-1998. Closing is contingent
upon all regulatory approvals being obtained by February 1999.
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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.
THE NARRAGANSETT ELECTRIC COMPANY
s/Alfred D. Houston
By ________________________________
Alfred D. Houston
Vice President and Treasurer
Date: March 3, 1998
