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 March 31, 1995 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: June 8, 1995

EX-99

                      EUA ENERGY INVESTMENT CORPORATION
                      INVESTMENT IN TRANSCAPACITY L.P.
                             FIRST QUARTER 1995

(1) In the first quarter of 1995 TransCapacity L.P. was operational and was
    actively marketing their Capacity Scout System.

(2) EUA Energy advanced $775,000 in loans to TransCapacity in the first
    quarter of 1995.  On a cumulative basis EUA has invested $4,875,000
    in TransCapacity.

(3) Services were provided by ten (10) EUA Service Corporation staff
    personnel in the following areas:
     o Marketing/advertising of Transcapacity Scout System
     o Software development and communications
     o Human resources and employee benefits

(4) TransCapacity L.P. Financial Statements for the first quarter 1995.

                               TRANSCAPACITY L.P.
                           CONDENSED BALANCE SHEET
                                March 31, 1995
                                  (Unaudited)
                          (In Thousands of Dollars)
                                   ASSETS
Fixed Assets:
  Property and Equipment, net                                   $488
  Organization Costs, net                                         21
  Other Assets                                                   542
          Total Fixed Assets                                   1,051
Current Assets:
  Cash and Temporary Cash Investments                            140
  Accounts Receivable                                              1
  Notes Receivable                                                 0
  Other Current Assets                                            23
          Total Current Assets                                   164
  TOTAL ASSETS                                                $1,215

                                 LIABILITIES
Partnership Equity:
  Partnership Equity - EUA TransCapacity                        (403)
  Partnership Equity - NCRSCo                                   (367)
  Partnership Equity - TransCapacity SC                         (539)
          Total Partnership Equity                            (1,309)
Long Term Liabilities:
  Long term portion of capital lease liability                     3
  Note Payable to EUA Energy                                   2,025
          Total Long Term Liabilities                          2,028
          Total Capitalization                                   719
Current Liabilities:
  Accounts Payable                                               156
  Current portion of capital lease liability                       9
  Notes Payable                                                   55
  Accrued Expenses                                               276
          Total Current Liabilities                              496
  TOTAL LIABILITIES AND EQUITY                                $1,215

                               TRANSCAPACITY L.P.
                         CONDENSED INCOME STATEMENT
                 For the Quarter Ended and YTD March 31, 1995
                                  (Unaudited)
                          (In Thousands of Dollars)

                                          QUARTER ENDED           YTD

Operating Income                                    $1            $1

Operating Expenses:
  Revenue Related Expenses                            0            0
  General & Administrative                          726          726
  Depreciation & Amortization                        47           47
          Total Operating Expenses                  773          773
Operating Income                                   (772)        (772)
Other Income and Deductions                         (14)         (14)
  Income Before Interest Charges                   (786)        (786)
Interest Charges                                     63           63
  Income After Interest Charges                    (849)        (849)
Pre-tax Net Income                                ($849)       ($849)



                               TRANSCAPACITY L.P.
                           STATEMENT OF CASH FLOWS
                  YTD for the Month Ended March 31, 1995
                                  (Unaudited)
                          (In Thousands of Dollars)


Operating Activities:
Pre-tax Net Income                                             ($849)
Depreciation & Amortization                                       47
Change in Assets and Liabilities:
  Accounts & Notes Receivable                                     15
  Accounts & Notes Payable                                        81
  Accrued Expenses                                               153
  Other (Net)                                                     (8)
          Net Operating Activities                              (561)
Financing Activities:
Equity Contributions                                               0
Long-term Debt                                                   775
Other (Net)                                                       (2)
          Net Financing Activities                               773
Investing Activities:
Marketable Securities                                              0
Payments for Affiliate Expenses                                  (16)
Capital Expenditures                                            (164)
Other                                                              0
          Net Investing Activities                              (180)
Cash Provided (Used)                                             $32


(5) Number of transactions processed by TransCapacity L.P. during the
    first quarter of 1995 - NONE

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

(6) Number of TransCapacity L.P. customers as of the end of the first
    quarter of 1995 - THIRTEEN

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

EX-27

 

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