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MASSACHUSETTS ELECTRIC COMPANY RATE AGREEMENT APPROVED

 WESTBOROUGH, Mass., Nov. 30 /PRNewswire/ -- The Massachusetts Department of Public Utilities today approved a rate agreement filed on Oct. 14, 1993 by Massachusetts Electric Company (Mass. Electric), a subsidiary of New England Electric System (NEES)(NYSE: NES).
 The rate agreement among Mass. Electric, the Massachusetts Attorney General, and two groups of large commercial and industrial customers -- the Energy Consortium and the Industrial Intervenors, provides for a $26 million (annual basis) reduction in rates for the next eleven months effective Dec. 1, 1993. Under the rate agreement, discounts of up to $4 million are also available to large commercial and industrial customers that enter into service extension agreements with Mass. Electric. Mass. Electric further agreed not to increase its base rates before Oct. 1, 1995. The rate agreement resolves all issues associated with providing funds and securing rate recovery for environmental clean up costs in Massachusetts associated with manufactured gas waste sites formerly owned by Mass. Electric and its affiliates.
 Mass. Electric serves 922,000 customers in 146 communities in the Commonwealth. Other NEES subsidiaries include The Narragansett Electric Company, serving 321,000 customers in 27 Rhode Island communities; Granite State Electric, serving 35,000 customers in 21 New Hampshire communities; and New England Power Company, providing electric generation and transmission services.
 -0- 11/30/93
 /CONTACT: Harry Stapleford of New England Electric, 508-366-9011 (days), or 617-498-9880 (evenings)/
 (NES)


CO: Massachusetts Electric; New England Electric System ST: Massachusetts IN: UTI SU:

JL-DJ -- NE009 -- 8906 11/30/93 16:44 EST
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Publication:PR Newswire
Date:Nov 30, 1993
Words:249
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