35-CERT

               SECURITIES AND EXCHANGE COMMISSION

                           Washington, D.C.

   In the matter of                           )
                                              )
EASTERN UTILITIES ASSOCIATES                  )
Boston, Massachusetts                         )
                                              )
EUA ENERGY INVESTMENT CORPORATION             ) Certificate of
Lowell, Massachusetts                         ) Notification
                                              ) Pursuant to
                                              ) Rule 24
   (70-8283)                                  )
                                              )
(Public Utility Holding Company Act of 1935)  )


   Enclosed herewith for filing by Eastern Utilities Associates and
its wholly-owned subsidiary, EUA Energy Investment Corporation, in
accordance with the Order of the Securities and Exchange Commission
entered in the above matter on January 24, 1994 (Release No. 35-25976)
and pursuant to Rule 24, are the balance sheet, the income statement,
and statement of cash flows for the period ended December 31, 1994 of
TransCapacity Limited Partnership, reflecting the investments to-date
therein by EUA Energy Investment Corporation and by its wholly-owned
subsidiary EUA TransCapacity Inc..


                                 EASTERN UTILITIES ASSOCIATES

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



Dated: February 28, 1995

EX-99

                      EUA ENERGY INVESTMENT CORPORATION
                      INVESTMENT IN TRANSCAPACITY L.P.
                              FOURTH QUARTER 1994

(1) In the fourth quarter of 1994 TransCapacity L.P. went on-line with
    a pre-commercial version of their Capacity Scout System.  The first
    pre-commercial customer installations began in October 1994.

(2) EUA Energy advanced $775,000 in loans to TransCapacity in the fourth
    quarter of 1994.  On a cumulative basis EUA has invested $4,100,000
    in TransCapacity.

(3) Services were provided by six (6) EUA Service Corporation staff
    personnel in the following areas:
     o Negotiating outside services contracts on behalf of TransCapacity
     o Development of a TransCapacity marketing/advertising plan
     o Software development and communications

(4) TransCapacity L.P. Financial Statements for the fourth quarter 1994.

                               TRANSCAPACITY L.P.
                           CONDENSED BALANCE SHEET
                               December 31, 1994
                                  (Unaudited)
                          (In Thousands of Dollars)
                                   ASSETS
Fixed Assets:
  Property and Equipment, net                                   $940
  Organization Costs, net                                         22
  Other Assets                                                     8
          Total Fixed Assets                                     970
Current Assets:
  Cash and Temporary Cash Investments                            108
  Accounts Receivable                                              0
  Notes Receivable                                               501
  Other Current Assets                                            15
          Total Current Assets                                   624
  TOTAL ASSETS                                                $1,594

                                 LIABILITIES
Partnership Equity:
  Partnership Equity - EUA TransCapacity                      $1,210
  Partnership Equity - NCRSCo                                   (472)
  Partnership Equity - TransCapacity SC                         (697)
          Total Partnership Equity                                41
Long Term Liabilities:
  Long term portion of capital lease liability                     4
  Note Payable to EUA Energy                                   1,250
          Total Long Term Liabilities                          1,254
          Total Capitalization                                 1,295
Current Liabilities:
  Accounts Payable                                                61
  Current portion of capital lease liability                      10
  Notes Payable                                                   55
  Accrued Expenses                                               173
          Total Current Liabilities                              299
  TOTAL LIABILITIES AND EQUITY                                $1,594

                               TRANSCAPACITY L.P.
                         CONDENSED INCOME STATEMENT
               For the Quarter Ended and YTD December 31, 1994
                                  (Unaudited)
                          (In Thousands of Dollars)

                                          QUARTER ENDED           YTD

Operating Income                                    $55         $219

Operating Expenses:
  Revenue Related Expenses                            0            0
  General & Administrative                          331        2,295
  Depreciation & Amortization                        45          120
          Total Operating Expenses                  376        2,416
Operating Income                                   (321)      (2,196)
Other Income and Deductions                           8           27
  Income Before Interest Charges                   (312)      (2,170)
Interest Charges                                     33           44
  Income After Interest Charges                    (345)      (2,213)
Pre-tax Net Income                                ($345)     ($2,213)



                               TRANSCAPACITY L.P.
                           STATEMENT OF CASH FLOWS
                  YTD for the Month Ended December 31, 1994
                                  (Unaudited)
                          (In Thousands of Dollars)


Operating Activities:
Pre-tax Net Income                                           ($2,213)
Depreciation & Amortization                                      120
Change in Assets and Liabilities:
  Accounts & Notes Receivable                                     42
  Accounts & Notes Payable                                        23
  Accrued Expenses                                                66
  Other (Net)                                                    (14)
          Net Operating Activities                            (1,977)
Financing Activities:
Equity Contributions                                           2,850
Long-term Debt                                                 1,250
Other (Net)                                                   (1,850)
          Net Financing Activities                             2,250
Investing Activities:
Marketable Securities                                            500
Payments for Affiliate Expenses                                 (336)
Capital Expenditures                                            (851)
Other                                                             (2)
          Net Investing Activities                              (690)
Cash Provided (Used)                                           ($416)


(5) Number of transactions processed by TransCapacity L.P. during the
    fourth quarter of 1994 - NONE

    Number of transactions processed by TransCapacity L.P. during the
    fourth quarter for customers located in New England - NONE

(6) Number of TransCapacity L.P. customers as of the end of the fourth
    quarter of 1994 - EIGHT

    Number of TransCapacity L.P. customers as of the end of the fourth
    quarter located in New England - ONE

EX-27

 

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