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CONSERVATION AND RENEWABLE ENERGY RESERVE ALLOWANCES AWARDED TO MASSACHUSETTS ELECTRIC AND GRANITE STATE ELECTRIC

 WESTBOROUGH, Mass., Nov. 18 /PRNewswire/ -- On Nov. 17, the Environmental Protection Agency (EPA) awarded the first group of Conservation and Renewable Energy Reserve (CRER) bonus allowances to two New England utilities -- Massachusetts Electric Company and Granite State Electric Company. The bonus allowances are awarded to utilities that reduce acid rain emissions through energy efficiency and renewable energy programs. Massachusetts Electric qualified for 97 allowances and Granite State Electric qualified for 6 allowances. The CRER bonus allowances are based on the companies' 1992 energy savings from their demand-side management (DSM) programs and the use of renewable energy. Both recipients are retail subsidiaries of New England Electric System (NEES)(NYSE: NES).
 The CRER pool of 300,000 bonus allowances was established as a part of the EPA's Acid Rain Program to give utilities an additional incentive to make early reductions in sulfur dioxide (SO2) emissions through energy conservation and renewable energy resources, such as biomass, solar, geothermal or wind. An allowance is equal to one ton of SO2, the main ingredient in the formation of acid rain.
 The presentations in the bonus allowances were announced at the National Association of Regulatory Utility Commissioners annual convention in New York City. James V. Mahoney, vice president of Business Services and director of Marketing with NEES' Rhode Island subsidiary, Narragansett Electric Company, accepted the allowances for the NEES companies. "We are pleased to be included in the first group of bonus allowance recipients and acknowledge the efforts of the regulatory commissions in Massachusetts, New Hampshire, and Rhode Island who evaluate and certify the value our renewable energy and demand-side management programs," said James Mahoney.
 Narragansett Electric Company has applied for 27 bonus allowances. The company's application is expected to be certified by the Rhode Island Public Utility Commission later this month and will be forwarded to EPA in December.
 "We look forward to working with the commissions on future applications for allowances," Mahoney said. "We recently announced in our resource plan, NEESPLAN 4, that we will be adding more renewable energy projects to our resource base. By 1999, NEES companies will obtain approximately 180,000 megawatthours of energy from renewable sources. This renewable energy will continue to earn the bonus allowances from the reserve."
 The NEES companies have one of the nation's largest demand-side management (DSM) programs, relative to their size. A DSM goal, also included in NEESPLAN 4, is to reach a level of two million megawatthours of energy savings by the year 2000. A large part of those savings also will earn bonus allowances from the CRER through 1999.
 Based on current estimates of future DSM energy savings and renewable energy additions, the NEES companies expect to be eligible for a total of 14,000 allowances from the reserve through 1999.
 New England Electric System (NEES) is a public utility holding company headquartered in Westborough, Mass. NEES' retail electric companies are Massachusetts Electric Company, which serves 922,000 customers in 146 Massachusetts communities; The Narragansett Electric Company which serves 321,000 customers in 27 Rhode Island communities; and Granite State Electric Company, which serves 35,000 customers in 21 New Hampshire communities.
 -0- 11/18/93
 /CONTACT: Deborah Donovan, 508-366-9011, ext. 2590 (days), or Jacqueline Hughes, 508-366-9011, ext. 2605 (days) or 617-498-9880 (evenings), both of New England Electric System/
 (NES)


CO: Massachusetts Electric Company; Granite State Electric; New England
 Electric System ST: Massachusetts; New Hampshire IN: UTI ENV SU:


CM-DJ -- NE011 -- 6237 11/18/93 16:47 EST
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Publication:PR Newswire
Date:Nov 18, 1993
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