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File No. 70-7202
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
CERTIFICATE OF NOTIFICATION
Pursuant to Rule 24(a) under the Public
Utility Holding Company Act of 1935
Filed by
NATIONAL GRID USA
NEW ENGLAND POWER COMPANY (NEP)
NEW ENGLAND ELECTRIC TRANSMISSION CORPORATION (NEET)
It is hereby certified that the transactions covered by the
statement on Form U-1, as amended by Amendment Nos. 1, 2, and 3
thereto, and the Order of the Securities and Exchange Commission
dated August 7, 1986, with respect thereto, have been carried out
in accordance with the terms and conditions of and for the
purposes represented in said Statement and the Order of the
Commission, as follows:
National Grid USA's equity interest in NEET may be reduced
from time to time through repurchase by NEET of its common stock
in accordance with the terms of the Equity Funding Agreement,
dated as of December 1, 1985, between NEET and National Grid USA
(as successor to New England Electric System). In order to
maintain the approximate ratio of equity investment to total
capital that existed during the first year of commercial
operation of the NEET Project, on June 16, 2000, NEET purchased
15 shares of NEET stock from National Grid USA at a price of
$29,167.49 per share for a sum of $437,512.50.
The required "Past Tense" Opinion is filed herewith as
Exhibit F.
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SIGNATURE
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Pursuant to the requirements of the Public Utility Holding
Company Act of 1935, the undersigned companies have duly caused
this Certificate of Notification (Commission's File No. 70-7202)
to be signed on their behalf by the undersigned officers
thereunto duly authorized.
NATIONAL GRID USA
NEW ENGLAND POWER COMPANY
NEW ENGLAND ELECTRIC TRANSMISSION
CORPORATION
s/John G. Cochrane
By: _________________________
John G. Cochrane
Treasurer
Date: June 26, 2000
