SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549-1004
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 8, 1998
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Commission File Number 1-5324
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NORTHEAST UTILITIES
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(Exact name of registrant as specified in its charter)
MASSACHUSETTS 04-2147929
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
174 BRUSH HILL AVENUE, WEST SPRINGFIELD, MASSACHUSETTS 01090-0010
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(Address of principal executive offices) (Zip Code)
(413) 785-5871
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report)
Item 5. Other Events
New Hampshire Electric Cooperative Inc. Revised Purchase Offer
In late March 1998, Public Service Company of New Hampshire (PSNH), a
wholly owned subsidiary of Northeast Utilities (NU), received a revised
unsolicited proposal from New Hampshire Electric Cooperative Inc. (NHEC) to
purchase PSNH's transmission and distribution facilities, as well as PSNH's
claims for recovery of stranded costs. NHEC had previously presented an
unsolicited offer to purchase such assets from PSNH in November 1997. At
that time, PSNH noted a number of significant deficiencies in the proposal
that needed to be addressed that made it impossible for PSNH to respond in a
definitive manner.
On April 8, 1998, after due consideration, PSNH informed NHEC that it
had rejected the new proposal. PSNH found the revised proposal to be
deficient for many of the same reasons as NHEC's first proposal.
PSNH intends to continue working with the State of New Hampshire and
other interested parties to bring about a fair and orderly restructuring of
the electric utility industry in New Hampshire.
For more information on this matter, see NU's Current Report on Form 8-K
dated November 24, 1997 and "Item 1. Business-Electric Industry
Restructuring-New Hampshire Restructuring" in NU's 1997 Annual Report on Form
10-K.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NORTHEAST UTILITIES
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Registrant
Date April 9, 1998 By /s/John B. Keane
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John B. Keane
Vice President and Treasurer
