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File No. 70-8803
SECURITIES AND EXCHANGE COMMISSION
450 Fifth Street, N.W.
Washington, DC 20549
POST-EFFECTIVE AMENDMENT NO. 3
TO
FORM U-1
APPLICATION/DECLARATION
UNDER
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
NEW ENGLAND ELECTRIC SYSTEM
(Names of company filing this Statement)
25 Research Drive
Westborough, Massachusetts 01582
(Address of principal executive offices)
NEW ENGLAND ELECTRIC SYSTEM
(Name of top registered holding company parent of applicant)
Michael E. Jesanis Kirk L. Ramsauer
Treasurer Associate General Counsel
25 Research Drive 25 Research Drive
Westborough, Massachusetts 01582 Westborough, Massachusetts 01582
(Names and addresses of Agents for Service)
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1. Item 1 is hereby amended by adding the following new paragraph thereto:
"Neither NEES nor any subsidiary currently has an ownership interest in
an EWG or a FUCO. Additionally, neither NEES nor any subsidiary is a party
to, or has any rights under, a service, sales, or construction agreement with
an EWG or FUCO. By its Order dated April 15, 1996 (HCAR 35-26504), the
Commission has authorized financings by NEES and/or New England Electric
Resources, Inc. (NEERI) to acquire EWGs and FUCOs as set forth in their
Application/Declaration in File No. 70-8783. In the event that the total
amount of authority requested in the above-referenced Application/Declaration
(File No. 70-8783) is invested in connection with EWGs and FUCOs, NEES'
'aggregate investment' (determined in accordance with Rule 53(a)(1)(i)) in
EWGs and FUCOs would not exceed 50% of NEES' 'consolidated retained earnings'
(as defined in Rule 53(a)(1)(ii)) in compliance with the provisions set forth
in Rule 53 under the Act. NEES and its subsidiaries are, and shall continue
to be, in compliance with the requirements of Rules 53 and 54 of the Act in
connection with EWG and FUCO acquisitions and financings."
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SIGNATURE
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Pursuant to the requirements of the Public Utility Holding Company Act
of 1935, the undersigned company has duly caused this Post-Effective Amendment
No. 3 to its Application/Declaration on Form U-1 (Commission's File No.
70-8803) to be signed on its behalf, as indicated by the undersigned officer
thereunto duly authorized.
NEW ENGLAND ELECTRIC SYSTEM
s/Michael E. Jesanis
By________________________________
Michael E. Jesanis,
Treasurer
DATE: August 21, 1996
The name "New England Electric System" means the trustee or trustees for the
time being (as trustee or trustees but not personally) under an agreement and
declaration of trust dated January 2, 1926, as amended, which is hereby referred
to, and a copy of which as amended has been filed with the Secretary of the
Commonwealth of Massachusetts. Any agreement, obligation or liability made,
entered into or incurred by or on behalf of New England Electric System binds
only its trust estate, and no shareholder, director, trustee, officer or agent
thereof assumes or shall be held to any liability therefor.
