<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
Amendment No. 1
to
ANNUAL REPORT
for the Period Beginning January 1, 1994 and Ending December 31, 1994
on
Form U-13-60
under the Public Utility Holding Company Act of 1935
NEW ENGLAND POWER SERVICE COMPANY
A Subsidiary Service Company
(Name of company or companies filing amendment)
H. W. McDowell, Controller
25 Research Drive
Westborough, MA 01582
Name, title, and address of officer to whom notices and correspondence
concerning this amendment should be addressed
Undersigned hereby amends the above document as indicated in the
attached pages with respect to the following (identify item, statement,
schedule, or exhibit of document to which amendment relates):
Schedule XIII - Current and Accrued Liabilities
Schedule XV - Statement of Income
SIGNATURE
The company has caused this amendment to be duly signed on its behalf by
its authorized officer in the city of Westborough, and State of Massachusetts,
on the 18th day of May, 1995.
New England Power Service Company
s/ Howard W. McDowell
_________________________________
Howard W. McDowell
Controller
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ANNUAL REPORT OF NEW ENGLAND POWER SERVICE COMPANY
For the Year Ended December 31, 1994
(In Thousands)
SCHEDULE XIII
CURRENT AND ACCRUED LIABILITIES
INSTRUCTIONS: Provide balance of notes and accounts payable to each associate
company. Give description and amount of miscellaneous current
and accrued liabilities. Items less than $10,000 may be
grouped, showing the number of items in each group.
BALANCE AT BALANCE AT
BEGINNING CLOSE
DESCRIPTION OF YEAR OF YEAR
ACCOUNT 233 - NOTES PAYABLE TO ASSOCIATE
COMPANIES $ $ 4,950
See Notes to Financial Statements
on Page 19.
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TOTAL $ $ 4,950
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ACCOUNT 234 - ACCOUNTS PAYABLE TO ASSOCIATE
COMPANIES
Massachusetts Electric Company $ 162 $ 440
New England Power Company 94 437
Granite State Electric Company 2 2
The Narragansett Electric Company 13 86
New England Hydro Transmission Electric Co., Inc. - 4
New England Electric System 2 2
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TOTAL $ 273 $ 971
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ACCOUNT 242 - MISCELLANEOUS CURRENT AND
ACCRUED LIABILITIES
Accrued Pension Costs $ 5,303 $ (2,337)
Accrued Severance Costs 371 17
Group Insurance 41 21
NEES Goals 3,575 2,896
Commuter Use of Company Vehicles (18) (19)
Workman's Compensation Insurance 94 265
Postemployment Benefits - 3,466
Property Under Capital Lease 8,701 11,658
Healthcare Costs 103 (295)
Other (8) -
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TOTAL $ 18,162 $ 15,672
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ANNUAL REPORT OF NEW ENGLAND POWER SERVICE COMPANY
For the Year Ended December 31, 1994
(In Thousands)
SCHEDULE XV
STATEMENT OF INCOME
ACCOUNT DESCRIPTION CURRENT PRIOR
YEAR YEAR
INCOME
457 Services rendered to associate companies $220,618 $198,268
458 Services rendered to nonassociate companies 2,432 2,913
421 Miscellaneous income or loss
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TOTAL INCOME 223,050 201,181
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EXPENSE
920 Salaries and wages 89,269 89,002
921 Office supplies and expenses 53,199 30,312
922 Administrative expense transferred - credit
923 Outside services employed 4,397 4,097
924 Property insurance 9 92
925 Injuries and damages 2,606 2,397
926 Employee pensions and benefits 37,287 43,998
928 Regulatory commission expense 166 91
930.1 General advertising expenses
930.2 Miscellaneous general expenses 67 4
931 Rents 24,784 18,434
932 Maintenance of structures and equipment 3,046 3,403
403 Depreciation and amortization expense
408 Taxes other than income taxes 7,645 7,658
409 Income taxes (2,104) 3,760
410 Provision for deferred income taxes 1,960 1,015
411 Provision for deferred income taxes - credit (417) (4,780)
411.5 Investment tax credit (39) (61)
426.1 Donations 180 156
426.5 Other deductions
427 Interest on long-term debt
430 Interest on debt to associate companies (416) (159)
431 Other interest expense 1,253 1,604
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TOTAL EXPENSE 222,892 201,023
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NET INCOME OR (LOSS) $ 158 $ 158
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