SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of the
Securities Exchange Act of 1934
Date of Earliest Event Reported: December 10, 1999
NEW ENGLAND POWER COMPANY
(exact name of registrant as specified in charter)
Massachusetts 1-6564 04-1663070
(state or other (Commission (I.R.S. Employer
jurisdiction of File No.) Identification No.)
incorporation)
25 Research Drive, Westborough, Massachusetts 01582
(Address of principal executive offices)
(508) 389-2000
(Registrant's telephone number, including area code)
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Item 5. Other Events
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On December 10, 1999, the United States Nuclear Regulatory
Commission (NRC) issued orders approving the proposed merger
between New England Electric System (NEES) and the National Grid
Group plc. The approval was required because NEES subsidiary New
England Power Company (NEP) owns minority interests in the
Seabrook and Millstone 3 nuclear power plants.
The NRC orders are conditioned upon the creation of a Special
Nuclear Committee of NEP, to be comprised of members who are all
U.S. citizens. The Special Nuclear Committee will oversee all
matters regarding the operation and finance of NEP's nuclear
ownership interests, including NEP's divestiture strategy for
those investments. Any changes regarding the Special Nuclear
Committee must be approved by the NRC in advance. NEP announced on
December 13, 1999, that two new directors will serve on the
Special Nuclear Committee. They are L. Joseph Callan, former NRC
executive director for operations, who will serve as committee
chair, and Philip R. Sharp, former U.S. congressman and currently
a lecturer in public policy at Harvard University's John F.
Kennedy School of Government. NEP is actively pursuing
divestiture of its nuclear interests as required by its
restructuring agreements in Massachusetts, Rhode Island, and New
Hampshire.
The proposed NEES/National Grid merger has been approved or
received support from several state and federal regulatory
agencies. A final approval is required from the Securities and
Exchange Commission under the Public Utility Holding Company Act
of 1935. The merger is expected to close by early 2000.
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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.
NEW ENGLAND POWER COMPANY
S/ John G. Cochrane
By
John G. Cochrane
Treasurer
Date: December 15, 1999
