8-K

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) May 2, 2006

Commission	Registrant; State of Incorporation	I.R.S. Employer
File Number	Address; and Telephone Number	Identification No.
-----------	-----------------------------------	--------------------
1-5324	NORTHEAST UTILITIES	04-2147929
	(a Massachusetts voluntary association)
	---------------------------------------
	One Federal Street, Building 111-4
	Springfield, Massachusetts 01105
	Telephone:  (413) 785-5871
0-00404	THE CONNECTICUT LIGHT AND POWER COMPANY	06-0303850
	---------------------------------------
	(a Connecticut corporation)
	107 Selden Street
	Berlin, Connecticut  06037-1616
	Telephone:  (860) 665-5000
1-6392	PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE	02-0181050
	---------------------------------------
	(a New Hampshire corporation)
	Energy Park
	780 North Commercial Street
	Manchester, New Hampshire 03101-1134
	Telephone:  (603) 669-4000
0-7624	WESTERN MASSACHUSETTS ELECTRIC COMPANY	04-1961130
	--------------------------------------
	(a Massachusetts corporation)
	One Federal Street, Building 111-4
	Springfield, Massachusetts 01105

Not Applicable

--------------

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2   -

Financial Information

Item 2.02   -

Results of Operations and Financial Condition.

On May 4, 2006, Northeast Utilities issued a news release announcing its unaudited results of operations for the first quarter 2006 and related financial information for certain of its subsidiaries for the same period.  A copy of the news release and related financial reports are attached as Exhibits 99.1 and 99.2, and are incorporated herein by reference thereto.  The information contained in this Item 2.02, including Exhibits 99.1 and 99.2, shall not be deemed “filed” with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by Northeast Utilities or any of its affiliates under the Securities Act of 1933, as amended, unless specified otherwise.

Item 2.05

Costs Associated with Exit or Disposal Activities

On May 2, 2006, Northeast Utilities issued a news release announcing an agreement to sell Select Energy, Inc.’s retail business operations.  A copy of the news release is attached as Exhibit 99.3 and is incorporated herein by reference thereto.  Further information concerning this matter is contained in Exhibit 99.1 hereto

Section 9   –

Financial Statements and Exhibits.

Item 9.01  –

Financial Statements and Exhibits.

(c)

 Exhibits.

Exhibit Number	Description
Exhibit 99.1	News Release issued by Northeast Utilities on May 4, 2006.
Exhibit 99.2	Financial Report for the three month period ending March 31, 2006.
Exhibit 99.3	News Release issued by Northeast Utilities on May 2, 2006.

[SIGNATURE PAGE TO FOLLOW]

SIGNATURE

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalves by the undersigned hereunto duly authorized.

NORTHEAST UTILITIES

THE CONNECTICUT LIGHT AND POWER COMPANY

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE

WESTERN MASSACHUSETTS ELECTRIC COMPANY

(Registrants)

By:  /s/        John P. Stack

       Name:  John P. Stack

       Title:    Vice President – Accounting and Controller

Date:  May 4, 2006

EX-99

Exhibit 99.1

NU LOGO

P. O. Box 270

Hartford, CT  06141-0270

107 Selden Street

Berlin, CT  06037

(860)-665-5000

www.nu.com

News Release

CONTACT:	Jeffrey R. Kotkin (investors)	Mary Jo Keating (media)
OFFICE:	(860) 665-5154	(860) 665-5181

NU REPORTS FIRST-QUARTER 2006 RESULTS,

UPDATES PROGRESS IN EXECUTING STRATEGIC PLAN

Strong Progress on Divestiture of Competitive Businesses, Including Sale of Retail Marketing

Regulated Transmission Net Income Up 51 Percent on Increased Investment Levels; Continued Progress on Build-Out

Overall Regulated Results Sound, Despite Mild Weather

2006 Earnings Guidance Reaffirmed

BERLIN, Connecticut, May 4, 2006—Northeast Utilities (NU-NYSE) today released first-quarter 2006 results and reported on strong progress divesting its competitive energy businesses and on the continued investment in its regulated transmission, distribution and generation businesses.  NU also reaffirmed its combined 2006 earnings guidance for its regulated subsidiaries and parent company.

Charles W. Shivery, NU chairman, president, and chief executive officer, said NU was pleased with the financial results of its regulated businesses in the first quarter and very encouraged by the progress the company has made in 2006 on its regulated investments and exit from its competitive energy businesses.  Progress on the divestitures includes:

·

Signing a definitive agreement to sell its retail energy marketing business to Amerada Hess Corporation with a closing expected by June 1, 2006;

·

Significant progress in selling its competitive generation with completion targeted for the end of 2006;

·

Completing the sale of Woods Electrical Company.  NU continues to seek the sale of its two remaining energy services businesses;

·

Netting $6.7 million in cash from the sale of its investment in a telecommunications firm.

In the regulated businesses, Shivery said NU’s major projects under construction remain on time and on budget.  Progress includes:

·

Completing 80 percent of The Connecticut Light and Power Company’s (CL&P) $350 million, 345-kV transmission project between Bethel, Connecticut and Norwalk, Connecticut.  The project is due to enter service by the end of this year;

·

Completing 90 percent of Public Service Company of New Hampshire’s (PSNH) $75 million Northern Wood Power Project in Portsmouth, New Hampshire, which is expected to begin commercial operation by the end of the third quarter of this year;

·

Completing nearly 50 percent of Yankee Gas Services Company’s $108 million 1.2 bcf liquefied natural gas storage project in Waterbury, Connecticut, which is scheduled to be in service for the 2007-2008 heating season;

·

Breaking ground last month on CL&P’s 69-mile, 345-kV transmission project between Middletown, Connecticut, and Norwalk, Connecticut.  CL&P’s share of the project is expected to cost approximately $1.05 billion and be completed in 2009.

“The momentum we have generated on both our regulated investments and competitive divestitures demonstrates the progress we have made implementing the strategy we announced last year,” Shivery said.  “We also are encouraged that the overall results of our regulated companies improved from last year, despite a much milder winter.”

NU’s four regulated businesses earned $54.6 million in the first quarter of 2006, compared with earnings of $53.6 million in the first quarter of 2005.  NU’s competitive businesses lost $62.6 million in the first quarter of 2006, primarily from losses in the retail marketing business, which NU expects to sell by June 1, compared with a loss of $167.4 million in the same quarter of 2005.  NU also incurred $2.1 million of parent and other losses in the first quarter of 2006, compared with $3.9 million of losses in the first quarter of 2005.  Overall, NU reported a first-quarter 2006 loss of $10.1 million, or $0.07 per share, compared with a loss of $117.7 million, or $0.91 per share, in the first quarter of 2005.

Regulated businesses

NU’s transmission business earned $12.7 million in the first quarter of 2006 compared with $8.4 million in the first quarter of 2005.  The improved results were due primarily to increased transmission investment levels as the company builds out the projects needed to ensure reliable electric service in the region.  

CL&P’s distribution earnings totaled $23.4 million in the first quarter of 2006, compared with $19.4 million in the same quarter of 2005.  An $11.9 million annualized distribution rate increase that took effect January 1, 2006 and a lower effective tax rate offset a 4.2 percent decline in 2006 retail sales and increased depreciation expense, compared with the first quarter of 2005.  The lower taxes resulted from a settlement which reduced CL&P’s income tax expense by $4.9 million in the first quarter of 2006.

PSNH’s distribution and regulated generation earnings were $2.5 million in the first quarter of 2006, compared with $6.9 million in the same quarter of 2005.  The lower results were due to a combination of factors, including lower earnings on stranded costs, a higher effective tax rate, increased operating costs, and a 0.8 percent decline in 2006 retail sales, compared with the first three months of 2005, partially offset by a $10 million annualized distribution rate increase that took effect June 1, 2005.  

Western Massachusetts Electric Company (WMECO) earned $4.2 million in the first quarter of 2006 from its distribution business, compared with $4.0 million in the first quarter of 2005.  The increase in earnings was due to a $3 million distribution rate increase that took effect January 1, 2006, partially offset by a 4.9 percent decrease in retail electric sales.  

Overall, NU’s regulated retail electric sales were down 3.5 percent in the first quarter of 2006, compared with the same quarter of 2005, and down 0.9 percent on a weather-adjusted basis.

Yankee Gas Services Company earned $11.8 million in the first quarter of 2006, compared with $14.9 million in the first quarter of 2005.  The decrease in earnings was caused by a 13.5 percent decline in Yankee Gas firm sales in the first quarter of 2006, compared with the same period of 2005, largely due to milder weather.  Firm sales were down 3.4 percent on a weather-adjusted basis.

Competitive businesses

Shivery said the sale of its retail marketing business to Amerada Hess is a significant milestone in the company’s divestiture of its competitive businesses.  Under the terms of the agreement, Select Energy, Inc., NU’s competitive energy marketing subsidiary, will pay Amerada Hess approximately $44 million and Amerada Hess will acquire Select’s ongoing retail energy marketing business, including all of its retail supply obligations.  The payment reflects the positive value of the business net of the current negative value of the existing retail sales contracts.

Shivery noted that with the sale of the retail marketing business, NU moves closer to fully exiting its energy marketing obligations.  In 2005, NU divested its New England wholesale marketing obligations through the termination of certain contracts and the assignment of other obligations to third parties.  The company already has served approximately half of the wholesale obligations that existed in the PJM power pool as of March 2005.  Also, Select Energy continues its efforts to divest its single wholesale contract in New York.

“We are well along in our efforts to create a company with the singular focus of providing benefits to customers and shareholders through a regulated investment and operations strategy,” Shivery said.

The retail energy marketing business had a significant impact on NU’s first-quarter 2006 results because NU’s competitive coal-fired and conventional hydroelectric generation was no longer utilized to serve a portion of Select Energy’s retail electric load.  Primarily as a result of that factor, the retail marketing business lost $30.7 million in the first quarter of 2006, compared with a profit of $1.4 million in the first quarter of 2005.  Additionally, as a result of the impending sale of the retail marketing business, NU recorded a $39.1 million after-tax loss to reflect the fair value of that business.  Due to the scheduled June 1 closing, NU anticipates that the retail marketing business will have a modest impact on financial results in the second quarter and little or no impact thereafter.

NU’s remaining competitive energy businesses earned $7.2 million net of restructuring and impairment charges of $3.9 million.  In the first quarter of 2005, those businesses lost $168.8 million, including $29.9 million of restructuring and impairment charges and $120.1 million of wholesale marketing mark-to-market charges.  

Earnings guidance

NU today reaffirmed its 2006 combined earnings guidance for its regulated businesses and parent company of between $1.09 per share and $1.22 per share.  That range incorporates the issuance of an additional 23 million NU shares on December 12, 2005.

The following table reconciles 2006 and 2005 first quarter results.  

		First Quarter
2005	Reported EPS	($0.91)
	Competitive business loss in 2005	$1.29
	Regulated and Parent EPS in 2005	$0.38
	Higher regulated transmission earnings in 2006, net of dilution	$0.02
	Lower regulated distribution and generation earnings in 2006, net of dilution	($0.08)
	Lower Parent costs in 2006, net of dilution	$0.02
	Regulated and Parent EPS in 2006	$0.34
	Competitive business loss in 2006	($0.41)
2006	Reported EPS	($0.07)

 First-quarter financial results for NU’s regulated businesses and competitive business lines are noted below:

Three months ended:

(in millions)	March 31, 2006	March 31, 2005	Increase (Decrease)
CL&P Distribution	$23.4	$19.4	$4.0
PSNH Distribution/Generation	$2.5	$6.9	($4.4)
WMECO Distribution	$4.2	$4.0	$0.2
Yankee Gas	$11.8	$14.9	($3.1)
Total—Distribution/ Regulated Generation	$41.9	$45.2	($3.3)
CL&P Transmission	$9.1	$5.8	$3.3
PSNH Transmission	$2.6	$1.9	$0.7
WMECO Transmission	$1.0	$0.7	$0.3
Total—Transmission	$12.7	$8.4	$4.3
Total—Regulated Businesses	$54.6	$53.6	$1.0
NU Parent and Other	($2.1)	($3.9)	$1.8
Total—Regulated and Parent	$52.5	$49.7	$2.8
Retail marketing	($30.7)	$1.4	($32.1)
Retail marketing charge to reflect fair value less cost of sale	($39.1)	---	($39.1)
Wholesale, generation, and services businesses, including mark-to-market impacts	$11.1	($138.9)	$150.0
NUEI restructuring and impairment charges	($3.9)	($29.9)	$26.0
Total—Competitive Energy	($62.6)	($167.4)	$104.8
Reported Earnings	($10.1)	($117.7)	$107.6

NU has approximately 153 million common shares outstanding.  It operates New England’s largest energy delivery system, serving approximately 2 million customers in Connecticut, New Hampshire and Massachusetts.

This news release includes statements concerning NU’s expectations, plans, objectives, future financial performance and other statements that are not historical facts.  These statements are “forward looking statements” within the meaning of the Private Litigation Reform Act of 1995.  In some cases the reader can identify these forward looking statements by words such as “estimate”, “expect”, “anticipate”, “intend”, “plan”, “believe”, “forecast”, “should”, “could”, and similar expressions.  Forward looking statements involve risks and uncertainties that may cause actual results or outcomes to differ materially from those included in the forward looking statements.  Factors that may cause actual results to differ materially from those included in the forward looking statements include, but are not limited to, actions by state and federal regulatory bodies, competition and industry restructuring, changes in economic conditions, changes in weather patterns, changes in laws, regulations or regulatory policy, expiration or initiation of significant energy supply contracts, changes in levels of capital expenditures, developments in legal or public policy doctrines, technological developments, volatility in electric and natural gas commodity markets, effectiveness of our risk management policies and procedures, changes in accounting standards and financial reporting regulations, fluctuations in the value of electricity positions, the methods, timing, and results of the disposition of competitive businesses, actions of rating agencies, terrorist attacks on domestic energy facilities, and other presently unknown or unforeseen factors. Other risk factors are detailed from time to time in our reports to the Securities and Exchange Commission.  We undertake no obligation to update the information contained in any forward looki ng statements to reflect developments or circumstances occurring after the statement is made.

#  #  #

NOTE:  NU will webcast an investor call Thursday, May 4, 2006, at 4 p.m. Eastern Daylight Time.  The call can be accessed through NU’s website at www.nu.com.

EX-99

NORTHEAST UTILITIES AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
	March 31,	December 31,
	2006	2005
	(Thousands of Dollars)
ASSETS
Current Assets:
Cash and cash equivalents	$             36,268	$             45,782
Special deposits	54,832	103,789
Investments in securitizable assets	241,652	252,801
Receivables, less provision for uncollectible
accounts of $22,425 in 2006 and $24,444 in 2005	544,547	901,516
Unbilled revenues	172,188	175,853
Taxes receivable	146,703	-
Fuel, materials and supplies	134,738	206,557
Marketable securities	65,730	56,012
Derivative assets - current	198,071	403,507
Prepayments and other	88,371	129,242
Assets held for sale	992,109	101,784
	2,675,209	2,376,843
Property, Plant and Equipment:
Electric utility	6,491,305	6,378,838
Gas utility	835,449	825,872
Competitive energy	11,050	908,776
Other	267,977	254,659
	7,605,781	8,368,145
Less: Accumulated depreciation	2,501,402	2,551,322
	5,104,379	5,816,823
Construction work in progress	624,095	600,407
	5,728,474	6,417,230
Deferred Debits and Other Assets:
Regulatory assets	2,523,165	2,483,851
Goodwill	287,591	287,591
Prepaid pension	285,856	298,545
Marketable securities	52,705	56,527
Derivative assets - long-term	350,529	425,049
Other	231,047	223,439
	3,730,893	3,775,002
Total Assets	$      12,134,576	$      12,569,075
The data contained in this report is preliminary and is unaudited.  This report is being submitted for the sole purpose of providing information to present shareholders about Northeast Utilities and Subsidiaries and is not a representation, prospectus, or intended for use in connection with any purchase or sale of securities.

NORTHEAST UTILITIES AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
	March 31,	December 31,
	2006	2005
	(Thousands of Dollars)
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes payable to banks	$           270,000	$             32,000
Long-term debt - current portion	26,995	22,673
Accounts payable	691,103	972,368
Accrued taxes	842	95,210
Accrued interest	44,836	47,742
Derivative liabilities - current	241,553	402,530
Counterparty deposits	12,906	28,944
Other	271,869	272,252
Liabilities of assets held for sale	504,814	101,511
	2,064,918	1,975,230
Rate Reduction Bonds	1,296,693	1,350,502
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	1,422,314	1,306,340
Accumulated deferred investment tax credits	94,526	95,444
Deferred contractual obligations	333,144	358,174
Regulatory liabilities	1,181,883	1,273,501
Derivative liabilities - long-term	198,794	272,995
Other	347,994	364,157
	3,578,655	3,670,611
Capitalization:
Long-Term Debt	2,699,981	3,027,288
Preferred Stock of Subsidiary - Non-Redeemable	116,200	116,200
Common Shareholders' Equity:
Common shares, $5 par value - authorized
225,000,000 shares; 175,078,083 shares issued
and 153,534,829 shares outstanding in 2006 and
174,897,704 shares issued and 153,225,892 shares
outstanding in 2005	875,390	874,489
Capital surplus, paid in	1,439,180	1,437,561
Deferred contribution plan - employee stock
ownership plan	(43,280)	(46,884)
Retained earnings	466,954	504,301
Accumulated other comprehensive income	621	19,987
Treasury stock, 19,672,653 shares in 2006
and 19,645,511 shares in 2005	(360,736)	(360,210)
Common Shareholders' Equity	2,378,129	2,429,244
Total Capitalization	5,194,310	5,572,732
Total Liabilities and Capitalization	$      12,134,576	$      12,569,075
The data contained in this report is preliminary and is unaudited.  This report is being submitted for the sole purpose of providing information to present shareholders about Northeast Utilities and Subsidiaries and is not a representation, prospectus, or intended for use in connection with any purchase or sale of securities.

NORTHEAST UTILITIES AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF LOSS
	Three Months Ended March 31,
	2006	2005
	(Thousands of Dollars, except share information)
Operating Revenues	$        2,147,388	$        2,232,964
Operating Expenses:
Operation -
Fuel, purchased and net interchange power	1,537,200	1,669,162
Other	308,771	245,099
Wholesale contract market changes, net	6,830	188,892
Restructuring and impairment charges	5,143	21,534
Maintenance	38,421	36,303
Depreciation	58,766	55,134
Amortization	59,717	23,093
Amortization of rate reduction bonds	48,678	45,790
Taxes other than income taxes	76,425	74,194
Total operating expenses	2,139,951	2,359,201
Operating Income/(Loss)	7,437	(126,237)
Interest Expense:
Interest on long-term debt	35,351	30,223
Interest on rate reduction bonds	19,881	23,038
Other interest	6,000	3,084
Interest expense, net	61,232	56,345
Other Income, Net	16,205	5,906
Loss from Continuing Operations Before
Income Tax Benefit	(37,590)	(176,676)
Income Tax Benefit	(18,305)	(64,770)
Loss from Continuing Operations Before
Preferred Dividends of Subsidiary	(19,285)	(111,906)
Preferred Dividends of Subsidiary	1,390	1,390
Loss from Continuing Operations	(20,675)	(113,296)
Discontinued Operations:
Income/(Loss) from Discontinued Operations,
Before Income Taxes	17,583	(7,005)
Income Tax Expense/(Benefit)	7,014	(2,582)
Income/(Loss) from Discontinued Operations	10,569	(4,423)
Net Loss	$            (10,106)	$          (117,719)
Basic and Fully Diluted Loss Per Common Share:
Loss from Continuing Operations	$                (0.13)	$                (0.88)
Income/(Loss) from Discontinued Operations	0.06	(0.03)
Basic and Fully Diluted Loss Per Common Share	$                (0.07)	$                (0.91)
Basic Common Shares Outstanding (average)	153,442,640	129,278,505
Fully Diluted Common Shares Outstanding (average)	153,442,640	129,278,505
The data contained in this report is preliminary and is unaudited.  This report is being submitted for the sole purpose of providing information to present shareholders about Northeast Utilities and Subsidiaries and is not a representation, prospectus, or intended for use in connection with any purchase or sale of securities.

NORTHEAST UTILITIES AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
	Three Months Ended March 31,
	2006	2005
	(Thousands of Dollars)
Operating Activities:
Net loss	$        (10,106)	$      (117,719)
Adjustments to reconcile to net cash flows
provided by operating activities:
Wholesale contract market changes, net	4,313	174,692
Restructuring and impairment charges	1,228	45,547
Bad debt expense	8,766	9,029
Depreciation	61,720	57,998
Deferred income taxes	171,578	(16,306)
Amortization	59,717	23,093
Amortization of rate reduction bonds	48,678	45,790
(Deferral)/amortization of recoverable energy costs	(52,085)	1,094
Pension expense	10,256	8,030
Regulatory refunds	(124,048)	(26,256)
Derivative assets and liabilities	(33,372)	(16,476)
Deferred contractual obligations	(25,030)	(19,996)
Other non-cash adjustments	(31,055)	(75,296)
Other sources of cash	2,863	4,766
Other uses of cash	(17,650)	(4,384)
Changes in current assets and liabilities:
Receivables and unbilled revenues, net	358,108	(72,195)
Fuel, materials and supplies	50,728	41,941
Investments in securitizable assets	11,149	(50,288)
Other current assets	56,300	92,611
Accounts payable	(255,189)	64,701
Counterparty deposits	(16,038)	37,998
(Taxes receivable)/accrued taxes	(239,525)	3,655
Other current liabilities	1,420	(22,922)
Net cash flows provided by operating activities	42,726	189,107
Investing Activities:
Investments in property and plant:
Electric, gas and other utility plant	(198,809)	(161,060)
Competitive energy assets	(5,016)	(5,760)
Cash flows used for investments in property and plant	(203,825)	(166,820)
Proceeds from sales of investment securities	18,335	18,738
Purchases of investment securities	(19,153)	(19,391)
Other investing activities	(5,501)	(6,036)
Net cash flows used in investing activities	(210,144)	(173,509)
Financing Activities:
Issuance of common shares	3,202	3,984
Retirement of rate reduction bonds	(53,809)	(50,338)
Increase in short-term debt	238,000	87,000
Reacquisitions and retirements of long-term debt	(2,649)	(9,121)
Cash dividends on common shares	(27,241)	(21,005)
Other financing activities	401	914
Net cash flows provided by financing activities	157,904	11,434
Net (decrease)/increase in cash and cash equivalents	(9,514)	27,032
Cash and cash equivalents - beginning of period	45,782	46,989
Cash and cash equivalents - end of period	$         36,268	$         74,021
The data contained in this report is preliminary and is unaudited.  This report is being submitted for the sole purpose of providing information to present shareholders about Northeast Utilities and Subsidiaries and is not a representation, prospectus, or intended for use in connection with any purchase or sale of securities.

EX-99

Exhibit 99.3

NU LOGO

P. O. Box 270

Hartford, CT  06141-0270

107 Selden Street

Berlin, CT  06037

(860)-665-5000

www.nu.com

News Release

CONTACT:	Mary Jo Keating (Media)	Jeffrey R. Kotkin (Investors)
OFFICE:	(860) 665-5181	(860) 665-5154

Northeast Utilities Subsidiary Select Energy Reaches Agreement to Sell its Competitive Retail Energy Marketing Business to Amerada Hess

BERLIN, Conn., May 2, 2006 – Northeast Utilities’ (NYSE: NU) subsidiary Select Energy, Inc. has entered into a definitive purchase and sale agreement to sell its retail energy marketing business, including its wholly-owned subsidiary Select Energy New York, Inc., to Amerada Hess Corporation.  As announced November 7, 2005, NU is exiting its competitive businesses in order to focus solely on regulated utility operations.  

Select Energy is a leading supplier of electricity and natural gas throughout the Northeast and mid-Atlantic states with approximately 30,000 customer accounts and annual revenues in 2005 of over $1 billion.  Hess is a global energy company that markets natural gas, fuel oil and electric supply in competitive markets throughout the eastern U.S.  

“The sale of the retail energy marketing business is a significant milestone that benefits shareholders and moves NU toward the completion of divesting our competitive energy businesses," said Charles W. Shivery, NU’s Chairman, President and Chief Executive Officer.  "It is a positive outcome for Select Energy’s customers, who will be well served by a market leader known for reliable service and operational excellence.  This also provides Select Energy employees with the potential to join a Fortune 100 integrated energy company,” Shivery said.  

The sale is expected to close by June 1, 2006.  Other terms will be disclosed in conjunction with NU’s quarterly earnings report on May 4, 2006.  J.P. Morgan Securities Inc. acted as financial advisor to NU on the transaction.

# # #

Northeast Utilities (NYSE: NU) is a Fortune 500 diversified energy company located in Connecticut with operations throughout the Northeast.  Through our regulated and competitive subsidiaries, NU provides Energy for a Changing World, with a full range of energy products and services to millions of residential and business customers.  NU is committed to safety, reliability and expanding consumers' energy options.  For more information on Northeast Utilities and our subsidiaries, visit the NU family of Web sites at www.nu.com.