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NEW ENGLAND ELECTRIC REPORTS 1991 EARNINGS

 NEW ENGLAND ELECTRIC REPORTS 1991 EARNINGS
 WESTBOROUGH, Mass., Jan. 24 /PRNewswire/ -- New England Electric


System (NYSE: NES) (NEES) today reported earnings of $2.77 per average share for the year ended December 1991. This compares to $4.11 per average share earned in 1990 on fewer average shares. The 1990 earnings were increased by $1.80 per share due to the effect of reversing a portion of a 1988 write-down, which resulted from a rate settlement involving the Seabrook 1 nuclear unit.
 NEW ENGLAND ELECTRIC SYSTEM AND SUBSIDIARIES (CONSOLIDATED)
 YEAR ENDED DEC. 31
 1991 1990
 Operating revenue $2,094,378,000 $1,908,826,000
 Net income $179,810,000 $262,050,000
 Average common shares 64,916,599 63,818,386
 Net income per average share $2.77 $4.11
 QUARTER ENDED DEC. 31
 1991 1990
 Operating revenue $524,366,000 $491,320,000
 Net income $42,429,000 $32,686,000
 Average common shares 64,969,652 64,349,883
 Net income per average share 65 cents 51 cents
 -0- 1/24/92
 /CONTACT: Linwood B. Stockwell of New England Electric Systems, 508-366-9011/
 (NES) CO: New England Electric Systems ST: Massachusetts IN: UTI ST: ERN


TM-PB -- NE011 -- 3358 01/24/92 14:13 EST
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Publication:PR Newswire
Date:Jan 24, 1992
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