File No. 33-50033
                                                Rule 424(b)(2)


PRICING SUPPLEMENT NO. 5 Dated February 7, 1995

(To Prospectus Dated September 15, 1993)

                 MASSACHUSETTS ELECTRIC COMPANY
          (A SUBSIDIARY OF NEW ENGLAND ELECTRIC SYSTEM)

                    SECURED MEDIUM-TERM NOTES
                (First Mortgage Bonds, Series U)
                           Issue 95-5

Interest Rate:        7.93%

Maturity Date:        February 14, 2000

Principal Amount:     $6,000,000

Acceptance Date:      February 7, 1995

Original Issue Date:  February 14, 1995

Form of Delivery:     Book-entry only

Depositary:           The Depository Trust Company
                      55 Water Street
                      New York, New York

Issue:                95-5

Original Issue
Discount New Bond:    No

Price of New Bonds:

                     Initial
                     Price to      Underwriting    Proceeds to
                     Public         Discounts        Company
                    -----------    ------------    -----------

     Per New Bond     100.00%         0.500%          99.500%
     Total          $6,000,000       $30,000        $5,970,000

                      REDEMPTION PROVISIONS

   The New Bonds will not be redeemable at the option of the
Company, as a whole or in part, at any time prior to maturity.

                  DISTRIBUTION OF THE NEW BONDS

   The New Bonds were sold in the amount of $6,000,000 to CS
First Boston Corporation as Agent in connection with the offering
of the New Bonds described in this Pricing Supplement.