File No. 70-7426


                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                        POST-EFFECTIVE AMENDMENT NO. 7 TO

                                    FORM U-1

            APPLICATION-DECLARATION WITH RESPECT TO ORGANIZATION AND
                     FINANCING OF A WHOLLY-OWNED SUBSIDIARY

                                      UNDER

                 THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935

                        EUA ENERGY INVESTMENT CORPORATION
                   P.O. Box 2333, Boston, Massachusetts 02107

                    (Name of companies filing this statement
                   and address of principal executive office)

                          EASTERN UTILITIES ASSOCIATES

                     (Name of top registered holding company
                        parent of applicant or declarant)

                       CLIFFORD J. HEBERT, JR., TREASURER
                          EASTERN UTILITIES ASSOCIATES
                   P.O. Box 2333, Boston, Massachusetts 02107

                     (Name and address of agent for service)

                The Commission is requested to mail signed copies
                  of all orders, notices and communications to:

                            ARTHUR I. ANDERSON, P.C.
                             McDermott, Will & Emery
                                 75 State Street
                                Boston, MA 02109
 The Application/Declaration on Form U-1 dated August 7, 1987, as amended by
Amendment No. 1 dated September 9, 1987, Amendment No. 2 dated September 14,
1987, Amendment No. 3 dated September 24, 1987, Amendment No. 4 dated November
24, 1987, Post-Effective Amendment No. 1 dated November 7, 1988, Post-Effective
Amendment No. 2 dated December 1, 1988, Post-Effective Amendment No. 3 dated
December 22, 1988, Post-Effective Amendment No. 4 dated January 24, 1990, Post-
Effective Amendment No. 5 dated February 4, 1994 and Post-Effective Amendment
No. 6 dated March 11, 1994, is hereby amended by amending and restating
Paragraph (c) of Item 2, Section 1 to read in its entirety as follows:

     (c)  Since, as indicated, the transactions which are the subject of this
Application/Declaration will be carried out from time to time and not as a
single transaction, EUA Energy proposes to file reports with the Commission,
pursuant to Rule 24 on a quarterly basis, 45 days after the end of each
calendar quarter, beginning the first calendar quarter after this
Application/Declaration is granted and permitted to become effective.  Such
reports will include:  (1) complete financial statements for EUA Energy,
including balance sheets, statements of income, and statements of cash flow;
(ii) statements of amounts and forms of investments and obligations of each
cogeneration and small power production project undertaken; (iii) a description
of current plans and a narrative discussion of each investment in research and
development; and (iv) a description of the services provided to EUA Energy by
EUA Service Corporation.

                                    SIGNATURE

     Pursuant to the requirements of the Public Utility Holding Company Act of
1935, the undersigned Applicant has duly caused this statement to be signed on
its behalf by the undersigned duly authorized individual.


                              EUA ENERGY INVESTMENT CORPORATION

                                   /s/ Clifford J. Hebert, Jr.
                              By:  ___________________________
                                   Clifford J. Hebert, Jr.
                                   Treasurer

Date:  April 14, 1994