POS AMC

                                                 File No. 70-8283





               SECURITIES AND EXCHANGE COMMISSION

                     Washington, D.C. 20549

                POST-EFFECTIVE AMENDMENT NO. 1 TO

                            FORM U-1

             APPLICATION-DECLARATION WITH RESPECT TO
       PARTICIPATION BY EUA ENERGY INVESTMENT CORPORATION
               IN A JOINT VENTURE TO COMMERCIALIZE
     AN ENERGY RELATED COMPUTER SOFTWARE AND HARDWARE SYSTEM

                              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, Massachusetts 02109
*n*
     This Post-Effective Amendment No. 1 to the Application-
Declaration on Form U-1 dated October 6, 1993, as previously
amended by Amendment No. 1 dated October 20, 1993, Amendment
No. 2 dated November 5, 1993, Amendment No. 3 dated December 8,
1993, Amendment No. 4 dated January 19, 1994 and Amendment No. 5
dated January 21, 1994, hereby amends said Application-
Declaration as follows.

1.   The following new Paragraph H is hereby added to Part III of
Item 1:

     H.   Request for Authority for Additional Financing of the
Joint Venture and Grounds for Request.  By order dated
January 24, 1994 (Release No. 35-25976), the Applicant was
authorized, among other things, to provide $1.85 million of
initial funding, up to $1 million of additional capital
contributions and up to $2 million of open account advances
and/or loans to TransCapacity L.P. for the research, development
and commercialization of an energy-related computer software and
hardware system for the collection, compilation and distribution
of an information database composed of information regarding
natural gas pipeline capacity and capacity rights.  The Applicant
hereby requests Commission authorization to make further
additional capital contributions to TransCapacity L.P. through
December 31, 1996 in an aggregate amount of up to $2 million for
working capital purposes.

2.   Applicable Statutory Provisions.  The section of the Act and
the rule thereunder that the Applicant considers applicable to
this request to make additional capital contributions to
TransCapacity L.P. are set forth below:

Additional capital contributions
by EEIC to TransCapacity L.P.          Section 12(b); Rule 45(a).


3.   The following Exhibits are to be added to Item 6:

          Exhibit G-1              Quarterly Reports pursuant to
                                   Rule 24 filed June 1, 1994,
                                   August 11, 1994 and November
                                   10, 1994 (File No. 70-8283).

          Exhibit H-1              Proposed Form of Notice

*n*


                            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:  December 21, 1994




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EX-99

                                                       Exhibit H-1


                         (PROPOSED FORM OF NOTICE)

                    SECURITIES AND EXCHANGE COMMISSION
                    (Release No. 35 -     , 70 - 8283)

     EUA Energy Investment Corporation ("EEIC"), a wholly-owned subsidiary
of Eastern Utilities Associates, a registered holding company, has filed a
post-effective amendment to its application-declaration with this
Commission pursuant to Section 12(b) of the Public Utility Holding Company
Act of 1935 (the "Act") and Rule 45(a) promulgated thereunder.

     EEIC seeks Commission approval to contribute up to an additional $2
million of working capital to TransCapacity L.P., a joint venture limited
partnership of which EEIC's wholly-owned subsidiary, EUA TransCapacity,
Inc., is a partner.

     NOTICE IS FURTHER GIVEN that any interested person may, not later than
January __, 1995, request in writing that a hearing be held on such matter,
stating the nature of his interest, the reasons for such request, and the
issues of fact or law raised by said application/declaration which he
desires to controvert; or he may request that he be notified if the
Commission should order a hearing thereon.  Any such request should be
addressed:  Secretary, Securities and Exchange Commission, 450 5th Street,
N.W., Judiciary Plaza, Washington, D.C. 20549.  A copy of such request
should be served personally or by mail upon the applicant/declarant at the
above-stated address and proof of service (by affidavit or, in case of an
attorney at law, by certificate) should be filed with the request.  At any
time after said date the application/declaration, as filed or as it may be
amended, may be granted and permitted to become effective as provided in
Rule 23 of the General Rules and Regulations promulgated under the Act, or
the Commission may grant exemption from such rules as provided in Rules
20(a) and 100 thereof or take such other action as it may deem appropriate.
Persons who request a hearing or advice as to whether a hearing is ordered
will receive any notices and orders issued in this matter, including the
date of the hearing (if ordered) and any postponements thereof.

     For the Commission, by the Division of Corporate Regulation, pursuant
to delegated authority.

                                   Secretary




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