File No. 70-9089

CERTIFICATE OF NOTIFICATION

(Rule 24)

to the

SECURITIES AND EXCHANGE COMMISSION

by

GRANITE STATE ELECTRIC COMPANY (Granite)
MASSACHUSETTS ELECTRIC COMPANY (Mass Electric)
NANTUCKET ELECTRIC COMPANY (NEC)
THE NARRAGANSETT ELECTRIC COMPANY (Narragansett)
NEW ENGLAND ELECTRIC TRANSMISSION CORPORATION (NEET)
NEW ENGLAND ENERGY INCORPORATED (NEEI)
NEW ENGLAND HYDRO-TRANSMISSION ELECTRIC COMPANY, INC.
(Mass Hydro)
NEW ENGLAND HYDRO-TRANSMISSION CORPORATION (NH Hydro)
NEW ENGLAND POWER COMPANY (NEP)
NATIONAL GRID USA SERVICE COMPANY, INC. (Service Company)
NATIONAL GRID USA

It is hereby certified that, other than as set forth below, the transactions detailed below, which were covered by the Statement on Form U-1 as amended and the Orders of the Securities and Exchange Commission dated October 29, 1997, June 2, 1998, April 19, 2001, and June 6, 2001 with respect thereto, have been carried out in accordance with the terms and conditions of and for the purposes represented in said Statement and Orders of the Commission.

During the quarter ended December 31, 2001, Borrowing Companies made new money borrowings as indicated in Exhibit A-1 hereto, the proceeds of which were used to pay then outstanding notes initially issued to banks and/or dealers in commercial paper and/or borrowings from the Money Pool, to provide new money for capitalizable expenditures and/or to reimburse the treasury therefor, and for other corporate purposes relating to ordinary business operations, including working capital and the financing of construction and property acquisitions. The maximum concurrent amount of short-term borrowings outstanding during the quarter and the amount outstanding at the end of the quarter is shown in Exhibit A-1.

No funds borrowed were paid by a subsidiary company to National Grid USA through dividends for the purpose of National Grid USA acquiring an interest in an exempt wholesale generator or in a foreign utility company.

SIGNATURES

Pursuant to the requirements of the Public Utility Holding Company Act of 1935, each undersigned company has duly caused this Certificate of Notification, Commission's File No. 70-9089 to be signed on its behalf by the undersigned officers thereunto duly authorized.

NATIONAL GRID USA
NATIONAL GRID USA SERVICE COMPANY, INC.
NEW ENGLAND ELECTRIC TRANSMISSION CORPORATION
NEW ENGLAND ENERGY INCORPORATED
NEW ENGLAND HYDRO-TRANSMISSION CORPORATION
NEW ENGLAND HYDRO-TRANSMISSION ELECTRIC COMPANY,INC.
NEW ENGLAND POWER COMPANY

By ___s/ John G. Cochrane_________
John G. Cochrane
Treasurer

GRANITE STATE ELECTRIC COMPANY
THE NARRAGANSETT ELECTRIC COMPANY
MASSACHUSETTS ELECTRIC COMPANY
NANTUCKET ELECTRIC COMPANY

By___s/ Nancy B. Kellogg__________________
Nancy B. Kellogg
Assistant Treasurer

Date: February 13, 2002

Exhibit A-1

Granite State Electric Co. (Granite) Borrowing from Money Pool
10/01/2001 to 12/31/2001
	Beginning	Total	Total	Ending	Interest	Interest
Date	Balance	Debits	Credits	Balance	Earned	Charged
10/01/01	0.00			0.00		0.00
10/02/01	0.00			0.00		0.00
10/03/01	0.00			0.00		0.00
10/04/01	0.00			0.00		0.00
10/05/01	0.00		$1,800,000.00	1,800,000.00		129.50
10/06/01	1,800,000.00			1,800,000.00		129.50
10/07/01	1,800,000.00			1,800,000.00		129.50
10/08/01	1,800,000.00			1,800,000.00		129.50
10/09/01	1,800,000.00			1,800,000.00		129.50
10/10/01	1,800,000.00	$275,000.00		1,525,000.00		109.72
10/11/01	1,525,000.00	$675,000.00		850,000.00		61.15
10/12/01	850,000.00		$25,000.00	875,000.00		62.95
10/13/01	875,000.00			875,000.00		62.95
10/14/01	875,000.00			875,000.00		62.95
10/15/01	875,000.00	$325,000.00		550,000.00		39.57
10/16/01	550,000.00	$425,000.00		125,000.00		8.99
10/17/01	125,000.00	$125,000.00		0.00		0.00
10/18/01	0.00			0.00		0.00
10/19/01	0.00			0.00		0.00
10/20/01	0.00			0.00		0.00
10/21/01	0.00			0.00		0.00
10/22/01	0.00			0.00		0.00
10/23/01	0.00			0.00		0.00
10/24/01	0.00			0.00		0.00
10/25/01	0.00			0.00		0.00
10/26/01	0.00			0.00		0.00
10/27/01	0.00			0.00		0.00
10/28/01	0.00			0.00		0.00
10/29/01	0.00			0.00		0.00
10/30/01	0.00			0.00		0.00
10/31/01	0.00			0.00		0.00
11/01/01	0.00			0.00		0.00
11/02/01	0.00		$700,000.00	700,000.00		42.78
11/03/01	700,000.00			700,000.00		42.78
11/04/01	700,000.00			700,000.00		42.78
11/05/01	700,000.00	$250,000.00		450,000.00		27.50
11/06/01	450,000.00		$150,000.00	600,000.00		36.67
11/07/01	600,000.00	$175,000.00		425,000.00		25.97
11/08/01	425,000.00	$300,000.00		125,000.00		7.64
11/09/01	125,000.00	$125,000.00		0.00		0.00
11/10/01	0.00			0.00		0.00
11/11/01	0.00			0.00		0.00
11/12/01	0.00			0.00		0.00
11/13/01	0.00			0.00		0.00
11/14/01	0.00			0.00		0.00
11/15/01	0.00			0.00		0.00
11/16/01	0.00			0.00		0.00
11/17/01	0.00			0.00		0.00
11/18/01	0.00			0.00		0.00
11/19/01	0.00			0.00		0.00
11/20/01	0.00			0.00		0.00
11/21/01	0.00			0.00		0.00
11/22/01	0.00			0.00		0.00
11/23/01	0.00			0.00		0.00
11/24/01	0.00			0.00		0.00
11/25/01	0.00			0.00		0.00
11/26/01	0.00			0.00		0.00
11/27/01	0.00			0.00		0.00
11/28/01	0.00			0.00		0.00
11/29/01	0.00			0.00		0.00
11/30/01	0.00			0.00		0.00
12/01/01	0.00			0.00		0.00
12/02/01	0.00			0.00		0.00
12/03/01	0.00			0.00		0.00
12/04/01	0.00			0.00		0.00
12/05/01	0.00		$300,000.00	300,000.00		16.67
12/06/01	300,000.00	$150,000.00		150,000.00		8.33
12/07/01	150,000.00	$125,000.00		25,000.00		1.39
12/08/01	25,000.00			25,000.00		1.39
12/09/01	25,000.00			25,000.00		1.39
12/10/01	25,000.00	$25,000.00		0.00		0.00
12/11/01	0.00			0.00		0.00
12/12/01	0.00			0.00		0.00
12/13/01	0.00			0.00		0.00
12/14/01	0.00			0.00		0.00
12/15/01	0.00			0.00		0.00
12/16/01	0.00			0.00		0.00
12/17/01	0.00			0.00		0.00
12/18/01	0.00			0.00		0.00
12/19/01	0.00			0.00		0.00
12/20/01	0.00			0.00		0.00
12/21/01	0.00			0.00		0.00
12/22/01	0.00			0.00		0.00
12/23/01	0.00			0.00		0.00
12/24/01	0.00			0.00		0.00
12/25/01	0.00			0.00		0.00
12/26/01	0.00			0.00		0.00
12/27/01	0.00			0.00		0.00
12/28/01	0.00			0.00		0.00
12/29/01	0.00			0.00		0.00
12/30/01	0.00			0.00		0.00
12/31/01	0.00			0.00		0.00
Totals	0.00	$2,975,000.00	$2,975,000.00	$0.00		1,311.06
Account Summary Ending Balance: $0.00 Maximum Balance: $1,800,000.00 Average Rate: 2.4973%

Massachusetts Electric Co. (Mass Electric) Borrowing from Money Pool
10/01/2001 to 12/31/2001
	Beginning	Total	Total	Ending	Interest	Interest
Date	Balance	Debits	Credits	Balance	Earned	Charged
10/01/01	249,825,000.00		$8,750,000.00	258,575,000.00		17,238.33
10/02/01	258,575,000.00	$8,325,000.00		250,250,000.00		16,683.33
10/03/01	250,250,000.00	$9,375,000.00		240,875,000.00		16,058.33
10/04/01	240,875,000.00	$6,850,000.00		234,025,000.00		15,601.67
10/05/01	234,025,000.00		$1,350,000.00	235,375,000.00		15,691.67
10/06/01	235,375,000.00			235,375,000.00		15,691.67
10/07/01	235,375,000.00			235,375,000.00		15,691.67
10/08/01	235,375,000.00			235,375,000.00		15,691.67
10/09/01	235,375,000.00		$8,125,000.00	243,500,000.00		16,233.33
10/10/01	243,500,000.00	$15,850,000.00		227,650,000.00		15,176.67
10/11/01	227,650,000.00	$8,800,000.00		218,850,000.00		14,590.00
10/12/01	218,850,000.00	$6,750,000.00		212,100,000.00		14,140.00
10/13/01	212,100,000.00			212,100,000.00		14,140.00
10/14/01	212,100,000.00			212,100,000.00		14,140.00
10/15/01	212,100,000.00		$2,925,000.00	215,025,000.00		14,335.00
10/16/01	215,025,000.00	$3,550,000.00		211,475,000.00		14,098.33
10/17/01	211,475,000.00	$9,300,000.00		202,175,000.00		13,478.33
10/18/01	202,175,000.00	$9,000,000.00		193,175,000.00		12,878.33
10/19/01	193,175,000.00		$850,000.00	194,025,000.00		12,935.00
10/20/01	194,025,000.00			194,025,000.00		12,935.00
10/21/01	194,025,000.00			194,025,000.00		12,935.00
10/22/01	194,025,000.00		$19,625,000.00	213,650,000.00		14,243.33
10/23/01	213,650,000.00	$6,375,000.00		207,275,000.00		13,818.33
10/24/01	207,275,000.00	$3,925,000.00		203,350,000.00		13,556.67
10/25/01	203,350,000.00	$6,350,000.00		197,000,000.00		13,133.33
10/26/01	197,000,000.00		$1,400,000.00	198,400,000.00		13,226.67
10/27/01	198,400,000.00			198,400,000.00		13,226.67
10/28/01	198,400,000.00			198,400,000.00		13,226.67
10/29/01	198,400,000.00	$7,725,000.00		190,675,000.00		12,711.67
10/30/01	190,675,000.00	$1,850,000.00		188,825,000.00		12,588.33
10/31/01	188,825,000.00	$12,075,000.00	$24,150,000.00	200,900,000.00		13,393.33
11/01/01	200,900,000.00		$3,075,000.00	203,975,000.00		11,558.58
11/02/01	203,975,000.00	$450,000.00		203,525,000.00		11,533.08
11/03/01	203,525,000.00			203,525,000.00		11,533.08
11/04/01	203,525,000.00			203,525,000.00		11,533.08
11/05/01	203,525,000.00	$6,300,000.00		197,225,000.00		11,176.08
11/06/01	197,225,000.00		$625,000.00	197,850,000.00		11,211.50
11/07/01	197,850,000.00	$2,075,000.00		195,775,000.00		11,093.92
11/08/01	195,775,000.00	$11,200,000.00		184,575,000.00		10,459.25
11/09/01	184,575,000.00		$1,500,000.00	186,075,000.00		10,544.25
11/10/01	186,075,000.00			186,075,000.00		10,544.25
11/11/01	186,075,000.00			186,075,000.00		10,544.25
11/12/01	186,075,000.00			186,075,000.00		10,544.25
11/13/01	186,075,000.00	$3,600,000.00		182,475,000.00		10,340.25
11/14/01	182,475,000.00	$4,275,000.00		178,200,000.00		10,098.00
11/15/01	178,200,000.00	$2,075,000.00		176,125,000.00		9,980.42
11/16/01	176,125,000.00	$3,950,000.00		172,175,000.00		9,756.58
11/17/01	172,175,000.00			172,175,000.00		9,756.58
11/18/01	172,175,000.00			172,175,000.00		9,756.58
11/19/01	172,175,000.00	$7,875,000.00		164,300,000.00		9,310.33
11/20/01	164,300,000.00	$7,875,000.00	$22,600,000.00	179,025,000.00		10,144.75
11/21/01	179,025,000.00	$7,875,000.00	$14,075,000.00	185,225,000.00		10,496.08
11/22/01	185,225,000.00			185,225,000.00		10,496.08
11/23/01	185,225,000.00	$2,175,000.00		183,050,000.00		10,372.83
11/24/01	183,050,000.00			183,050,000.00		10,372.83
11/25/01	183,050,000.00			183,050,000.00		10,372.83
11/26/01	183,050,000.00		$2,450,000.00	185,500,000.00		10,511.67
11/27/01	185,500,000.00	$10,300,000.00		175,200,000.00		9,928.00
11/28/01	175,200,000.00	$9,250,000.00		165,950,000.00		9,403.83
11/29/01	165,950,000.00		$2,250,000.00	168,200,000.00		9,531.33
11/30/01	168,200,000.00		$9,625,000.00	177,825,000.00		10,076.75
12/01/01	177,825,000.00			177,825,000.00		9,138.23
12/02/01	177,825,000.00			177,825,000.00		9,138.23
12/03/01	177,825,000.00		$4,750,000.00	182,575,000.00		9,382.33
12/04/01	182,575,000.00	$8,100,000.00		174,475,000.00		8,966.08
12/05/01	174,475,000.00	$2,700,000.00		171,775,000.00		8,827.33
12/06/01	171,775,000.00		$2,050,000.00	173,825,000.00		8,932.67
12/07/01	173,825,000.00		$700,000.00	174,525,000.00		8,968.65
12/08/01	174,525,000.00			174,525,000.00		8,968.65
12/09/01	174,525,000.00			174,525,000.00		8,968.65
12/10/01	174,525,000.00	$8,350,000.00		166,175,000.00		8,539.55
12/11/01	166,175,000.00	$975,000.00		165,200,000.00		8,489.44
12/12/01	165,200,000.00		$75,000.00	165,275,000.00		8,493.30
12/13/01	165,275,000.00	$4,125,000.00		161,150,000.00		8,281.32
12/14/01	161,150,000.00		$3,825,000.00	164,975,000.00		8,477.88
12/15/01	164,975,000.00			164,975,000.00		8,477.88
12/16/01	164,975,000.00			164,975,000.00		8,477.88
12/17/01	164,975,000.00		$30,375,000.00	195,350,000.00		10,038.82
12/18/01	195,350,000.00	$3,275,000.00		192,075,000.00		9,870.52
12/19/01	192,075,000.00		$4,700,000.00	196,775,000.00		10,112.05
12/20/01	196,775,000.00		$14,875,000.00	211,650,000.00		10,876.46
12/21/01	211,650,000.00		$7,175,000.00	218,825,000.00		11,245.17
12/22/01	218,825,000.00			218,825,000.00		11,245.17
12/23/01	218,825,000.00			218,825,000.00		11,245.17
12/24/01	218,825,000.00	$1,425,000.00		217,400,000.00		11,171.94
12/25/01	217,400,000.00			217,400,000.00		11,171.94
12/26/01	217,400,000.00	$9,100,000.00		208,300,000.00		10,704.31
12/27/01	208,300,000.00	$900,000.00		207,400,000.00		10,658.06
12/28/01	207,400,000.00		$2,675,000.00	210,075,000.00		10,795.52
12/29/01	210,075,000.00			210,075,000.00		10,795.52
12/30/01	210,075,000.00			210,075,000.00		10,795.52
12/31/01	210,075,000.00	$14,525,000.00	$29,050,000.00	224,600,000.00		11,541.94
Totals	249,825,000.00	$248,850,000.00	$223,625,000.00	$224,600,000.00		1,059,265.85
Account Summary Ending Balance: $224,600,000.00 Maximum Balance: $258,575,000.00 Average Rate: 2.1106%

Nantucket Electric Co. (NEC) Borrowing from Money Pool
10/01/2001 to 12/31/2001
	Beginning	Total	Total	Ending	Interest	Interest
Date	Balance	Debits	Credits	Balance	Earned	Charged
10/01/01	2,850,000.00	$75,000.00		2,775,000.00		199.65
10/02/01	2,775,000.00	$75,000.00		2,700,000.00		194.25
10/03/01	2,700,000.00	$150,000.00		2,550,000.00		183.46
10/04/01	2,550,000.00	$75,000.00		2,475,000.00		178.06
10/05/01	2,475,000.00			2,475,000.00		178.06
10/06/01	2,475,000.00			2,475,000.00		178.06
10/07/01	2,475,000.00			2,475,000.00		178.06
10/08/01	2,475,000.00			2,475,000.00		178.06
10/09/01	2,475,000.00		$25,000.00	2,500,000.00		179.86
10/10/01	2,500,000.00	$125,000.00		2,375,000.00		170.87
10/11/01	2,375,000.00	$100,000.00		2,275,000.00		163.67
10/12/01	2,275,000.00	$25,000.00		2,250,000.00		161.88
10/13/01	2,250,000.00			2,250,000.00		161.88
10/14/01	2,250,000.00			2,250,000.00		161.88
10/15/01	2,250,000.00		$150,000.00	2,400,000.00		172.67
10/16/01	2,400,000.00	$75,000.00		2,325,000.00		167.27
10/17/01	2,325,000.00	$75,000.00		2,250,000.00		161.88
10/18/01	2,250,000.00	$50,000.00		2,200,000.00		158.28
10/19/01	2,200,000.00	$100,000.00		2,100,000.00		151.08
10/20/01	2,100,000.00			2,100,000.00		151.08
10/21/01	2,100,000.00			2,100,000.00		151.08
10/22/01	2,100,000.00		$125,000.00	2,225,000.00		160.08
10/23/01	2,225,000.00	$125,000.00		2,100,000.00		151.08
10/24/01	2,100,000.00		$25,000.00	2,125,000.00		152.88
10/25/01	2,125,000.00			2,125,000.00		152.88
10/26/01	2,125,000.00		$150,000.00	2,275,000.00		163.67
10/27/01	2,275,000.00			2,275,000.00		163.67
10/28/01	2,275,000.00			2,275,000.00		163.67
10/29/01	2,275,000.00			2,275,000.00		163.67
10/30/01	2,275,000.00	$125,000.00		2,150,000.00		154.68
10/31/01	2,150,000.00	$100,000.00	$200,000.00	2,250,000.00		161.88
11/01/01	2,250,000.00	$75,000.00		2,175,000.00		132.92
11/02/01	2,175,000.00		$25,000.00	2,200,000.00		134.44
11/03/01	2,200,000.00			2,200,000.00		134.44
11/04/01	2,200,000.00			2,200,000.00		134.44
11/05/01	2,200,000.00			2,200,000.00		134.44
11/06/01	2,200,000.00			2,200,000.00		134.44
11/07/01	2,200,000.00	$125,000.00		2,075,000.00		126.81
11/08/01	2,075,000.00			2,075,000.00		126.81
11/09/01	2,075,000.00	$50,000.00		2,025,000.00		123.75
11/10/01	2,025,000.00			2,025,000.00		123.75
11/11/01	2,025,000.00			2,025,000.00		123.75
11/12/01	2,025,000.00			2,025,000.00		123.75
11/13/01	2,025,000.00		$125,000.00	2,150,000.00		131.39
11/14/01	2,150,000.00			2,150,000.00		131.39
11/15/01	2,150,000.00			2,150,000.00		131.39
11/16/01	2,150,000.00	$75,000.00		2,075,000.00		126.81
11/17/01	2,075,000.00			2,075,000.00		126.81
11/18/01	2,075,000.00			2,075,000.00		126.81
11/19/01	2,075,000.00			2,075,000.00		126.81
11/20/01	2,075,000.00		$25,000.00	2,100,000.00		128.33
11/21/01	2,100,000.00	$75,000.00		2,025,000.00		123.75
11/22/01	2,025,000.00			2,025,000.00		123.75
11/23/01	2,025,000.00	$25,000.00		2,000,000.00		122.22
11/24/01	2,000,000.00			2,000,000.00		122.22
11/25/01	2,000,000.00			2,000,000.00		122.22
11/26/01	2,000,000.00		$50,000.00	2,050,000.00		125.28
11/27/01	2,050,000.00	$100,000.00		1,950,000.00		119.17
11/28/01	1,950,000.00		$175,000.00	2,125,000.00		129.86
11/29/01	2,125,000.00		$100,000.00	2,225,000.00		135.97
11/30/01	2,225,000.00		$25,000.00	2,250,000.00		137.50
12/01/01	2,250,000.00			2,250,000.00		125.00
12/02/01	2,250,000.00			2,250,000.00		125.00
12/03/01	2,250,000.00	$100,000.00		2,150,000.00		119.44
12/04/01	2,150,000.00			2,150,000.00		119.44
12/05/01	2,150,000.00	$25,000.00		2,125,000.00		118.06
12/06/01	2,125,000.00	$50,000.00		2,075,000.00		115.28
12/07/01	2,075,000.00			2,075,000.00		115.28
12/08/01	2,075,000.00			2,075,000.00		115.28
12/09/01	2,075,000.00			2,075,000.00		115.28
12/10/01	2,075,000.00	$25,000.00		2,050,000.00		113.89
12/11/01	2,050,000.00	$75,000.00		1,975,000.00		109.72
12/12/01	1,975,000.00		$150,000.00	2,125,000.00		118.06
12/13/01	2,125,000.00	$25,000.00		2,100,000.00		116.67
12/14/01	2,100,000.00			2,100,000.00		116.67
12/15/01	2,100,000.00			2,100,000.00		116.67
12/16/01	2,100,000.00			2,100,000.00		116.67
12/17/01	2,100,000.00			2,100,000.00		116.67
12/18/01	2,100,000.00	$125,000.00		1,975,000.00		109.72
12/19/01	1,975,000.00	$25,000.00		1,950,000.00		108.33
12/20/01	1,950,000.00		$50,000.00	2,000,000.00		111.11
12/21/01	2,000,000.00		$25,000.00	2,025,000.00		112.50
12/22/01	2,025,000.00			2,025,000.00		112.50
12/23/01	2,025,000.00			2,025,000.00		112.50
12/24/01	2,025,000.00		$25,000.00	2,050,000.00		113.89
12/25/01	2,050,000.00			2,050,000.00		113.89
12/26/01	2,050,000.00	$75,000.00		1,975,000.00		109.72
12/27/01	1,975,000.00		$25,000.00	2,000,000.00		111.11
12/28/01	2,000,000.00		$100,000.00	2,100,000.00		116.67
12/29/01	2,100,000.00			2,100,000.00		116.67
12/30/01	2,100,000.00			2,100,000.00		116.67
12/31/01	2,100,000.00	$50,000.00	$25,000.00	2,075,000.00		115.28
Totals	2,850,000.00	$2,375,000.00	$1,600,000.00	$2,075,000.00		12,588.24
Account Summary Ending Balance: $2,075,000.00 Maximum Balance: $2,775,000.00 Average Rate: 2.2761%

Narragansett Electric Co. (Narragansett) Borrowing from Money Pool
10/01/2001 to 12/31/2001
	Beginning	Total	Total	Ending	Interest	Interest
Date	Balance	Debits	Credits	Balance	Earned	Charged
10/01/01	77,250,000.00		$1,875,000.00	79,125,000.00		5,275.00
10/02/01	79,125,000.00	$3,575,000.00		75,550,000.00		5,036.67
10/03/01	75,550,000.00	$500,000.00		75,050,000.00		5,003.33
10/04/01	75,050,000.00	$3,000,000.00		72,050,000.00		4,803.33
10/05/01	72,050,000.00		$1,975,000.00	74,025,000.00		4,935.00
10/06/01	74,025,000.00			74,025,000.00		4,935.00
10/07/01	74,025,000.00			74,025,000.00		4,935.00
10/08/01	74,025,000.00			74,025,000.00		4,935.00
10/09/01	74,025,000.00		$450,000.00	74,475,000.00		4,965.00
10/10/01	74,475,000.00	$4,200,000.00		70,275,000.00		4,685.00
10/11/01	70,275,000.00	$3,675,000.00		66,600,000.00		4,440.00
10/12/01	66,600,000.00	$1,975,000.00		64,625,000.00		4,308.33
10/13/01	64,625,000.00			64,625,000.00		4,308.33
10/14/01	64,625,000.00			64,625,000.00		4,308.33
10/15/01	64,625,000.00		$1,750,000.00	66,375,000.00		4,425.00
10/16/01	66,375,000.00	$3,175,000.00		63,200,000.00		4,213.33
10/17/01	63,200,000.00	$1,450,000.00		61,750,000.00		4,116.67
10/18/01	61,750,000.00	$1,300,000.00		60,450,000.00		4,030.00
10/19/01	60,450,000.00		$250,000.00	60,700,000.00		4,046.67
10/20/01	60,700,000.00			60,700,000.00		4,046.67
10/21/01	60,700,000.00			60,700,000.00		4,046.67
10/22/01	60,700,000.00		$250,000.00	60,950,000.00		4,063.33
10/23/01	60,950,000.00	$600,000.00		60,350,000.00		4,023.33
10/24/01	60,350,000.00	$1,425,000.00		58,925,000.00		3,928.33
10/25/01	58,925,000.00	$1,025,000.00		57,900,000.00		3,860.00
10/26/01	57,900,000.00	$1,200,000.00		56,700,000.00		3,780.00
10/27/01	56,700,000.00			56,700,000.00		3,780.00
10/28/01	56,700,000.00			56,700,000.00		3,780.00
10/29/01	56,700,000.00		$950,000.00	57,650,000.00		3,843.33
10/30/01	57,650,000.00	$750,000.00		56,900,000.00		3,793.33
10/31/01	56,900,000.00	$6,675,000.00	$13,350,000.00	63,575,000.00		4,238.33
11/01/01	63,575,000.00	$850,000.00		62,725,000.00		3,554.42
11/02/01	62,725,000.00	$925,000.00		61,800,000.00		3,502.00
11/03/01	61,800,000.00			61,800,000.00		3,502.00
11/04/01	61,800,000.00			61,800,000.00		3,502.00
11/05/01	61,800,000.00	$2,025,000.00		59,775,000.00		3,387.25
11/06/01	59,775,000.00	$700,000.00		59,075,000.00		3,347.58
11/07/01	59,075,000.00	$325,000.00		58,750,000.00		3,329.17
11/08/01	58,750,000.00	$1,875,000.00		56,875,000.00		3,222.92
11/09/01	56,875,000.00	$1,150,000.00		55,725,000.00		3,157.75
11/10/01	55,725,000.00			55,725,000.00		3,157.75
11/11/01	55,725,000.00			55,725,000.00		3,157.75
11/12/01	55,725,000.00			55,725,000.00		3,157.75
11/13/01	55,725,000.00	$1,800,000.00		53,925,000.00		3,055.75
11/14/01	53,925,000.00	$1,100,000.00		52,825,000.00		2,993.42
11/15/01	52,825,000.00	$1,950,000.00		50,875,000.00		2,882.92
11/16/01	50,875,000.00	$1,825,000.00		49,050,000.00		2,779.50
11/17/01	49,050,000.00			49,050,000.00		2,779.50
11/18/01	49,050,000.00			49,050,000.00		2,779.50
11/19/01	49,050,000.00	$2,450,000.00		46,600,000.00		2,640.67
11/20/01	46,600,000.00		$2,950,000.00	49,550,000.00		2,807.83
11/21/01	49,550,000.00		$975,000.00	50,525,000.00		2,863.08
11/22/01	50,525,000.00			50,525,000.00		2,863.08
11/23/01	50,525,000.00	$450,000.00		50,075,000.00		2,837.58
11/24/01	50,075,000.00			50,075,000.00		2,837.58
11/25/01	50,075,000.00			50,075,000.00		2,837.58
11/26/01	50,075,000.00		$1,525,000.00	51,600,000.00		2,924.00
11/27/01	51,600,000.00	$3,300,000.00		48,300,000.00		2,737.00
11/28/01	48,300,000.00	$1,325,000.00		46,975,000.00		2,661.92
11/29/01	46,975,000.00	$2,575,000.00		44,400,000.00		2,516.00
11/30/01	44,400,000.00		$5,000,000.00	49,400,000.00		2,799.33
12/01/01	49,400,000.00			49,400,000.00		2,538.61
12/02/01	49,400,000.00			49,400,000.00		2,538.61
12/03/01	49,400,000.00	$18,425,000.00		30,975,000.00		1,591.77
12/04/01	30,975,000.00	$2,500,000.00		28,475,000.00		1,463.30
12/05/01	28,475,000.00		$300,000.00	28,775,000.00		1,478.72
12/06/01	28,775,000.00	$625,000.00		28,150,000.00		1,446.60
12/07/01	28,150,000.00	$1,075,000.00		27,075,000.00		1,391.35
12/08/01	27,075,000.00			27,075,000.00		1,391.35
12/09/01	27,075,000.00			27,075,000.00		1,391.35
12/10/01	27,075,000.00	$1,000,000.00		26,075,000.00		1,339.97
12/11/01	26,075,000.00	$425,000.00		25,650,000.00		1,318.13
12/12/01	25,650,000.00	$1,750,000.00		23,900,000.00		1,228.19
12/13/01	23,900,000.00	$1,400,000.00		22,500,000.00		1,156.25
12/14/01	22,500,000.00		$1,275,000.00	23,775,000.00		1,221.77
12/15/01	23,775,000.00			23,775,000.00		1,221.77
12/16/01	23,775,000.00			23,775,000.00		1,221.77
12/17/01	23,775,000.00		$15,275,000.00	39,050,000.00		2,006.74
12/18/01	39,050,000.00	$3,100,000.00		35,950,000.00		1,847.43
12/19/01	35,950,000.00		$475,000.00	36,425,000.00		1,871.84
12/20/01	36,425,000.00		$5,500,000.00	41,925,000.00		2,154.48
12/21/01	41,925,000.00	$4,100,000.00		37,825,000.00		1,943.78
12/22/01	37,825,000.00			37,825,000.00		1,943.78
12/23/01	37,825,000.00			37,825,000.00		1,943.78
12/24/01	37,825,000.00	$425,000.00		37,400,000.00		1,921.94
12/25/01	37,400,000.00			37,400,000.00		1,921.94
12/26/01	37,400,000.00	$925,000.00		36,475,000.00		1,874.41
12/27/01	36,475,000.00		$1,425,000.00	37,900,000.00		1,947.64
12/28/01	37,900,000.00		$1,900,000.00	39,800,000.00		2,045.28
12/29/01	39,800,000.00			39,800,000.00		2,045.28
12/30/01	39,800,000.00			39,800,000.00		2,045.28
12/31/01	39,800,000.00	$4,050,000.00	$8,100,000.00	43,850,000.00		2,253.40
Totals	77,250,000.00	$98,950,000.00	$65,550,000.00	$43,850,000.00		279,169.44
Account Summary Ending Balance: $43,850,000.00 Maximum Balance: 79,125,000.00 Average Rate: 2.1535%

New England Electric Transmission Corp. (NEET) Borrowing from Money Pool
10/01/2001 to 12/31/2001
	Beginning	Total	Total	Ending	Interest	Interest
Date	Balance	Debits	Credits	Balance	Earned	Charged
10/01/01	3,575,000.00		$225,000.00	3,800,000.00		273.39
10/02/01	3,800,000.00			3,800,000.00		273.39
10/03/01	3,800,000.00			3,800,000.00		273.39
10/04/01	3,800,000.00			3,800,000.00		273.39
10/05/01	3,800,000.00			3,800,000.00		273.39
10/06/01	3,800,000.00			3,800,000.00		273.39
10/07/01	3,800,000.00			3,800,000.00		273.39
10/08/01	3,800,000.00			3,800,000.00		273.39
10/09/01	3,800,000.00			3,800,000.00		273.39
10/10/01	3,800,000.00			3,800,000.00		273.39
10/11/01	3,800,000.00			3,800,000.00		273.39
10/12/01	3,800,000.00	$125,000.00		3,675,000.00		264.40
10/13/01	3,675,000.00			3,675,000.00		264.40
10/14/01	3,675,000.00			3,675,000.00		264.40
10/15/01	3,675,000.00			3,675,000.00		264.40
10/16/01	3,675,000.00	$375,000.00		3,300,000.00		237.42
10/17/01	3,300,000.00		$250,000.00	3,550,000.00		255.40
10/18/01	3,550,000.00	$25,000.00		3,525,000.00		253.60
10/19/01	3,525,000.00	$50,000.00		3,475,000.00		250.01
10/20/01	3,475,000.00			3,475,000.00		250.01
10/21/01	3,475,000.00			3,475,000.00		250.01
10/22/01	3,475,000.00			3,475,000.00		250.01
10/23/01	3,475,000.00			3,475,000.00		250.01
10/24/01	3,475,000.00			3,475,000.00		250.01
10/25/01	3,475,000.00			3,475,000.00		250.01
10/26/01	3,475,000.00			3,475,000.00		250.01
10/27/01	3,475,000.00			3,475,000.00		250.01
10/28/01	3,475,000.00			3,475,000.00		250.01
10/29/01	3,475,000.00			3,475,000.00		250.01
10/30/01	3,475,000.00			3,475,000.00		250.01
10/31/01	3,475,000.00			3,475,000.00		250.01
11/01/01	3,475,000.00			3,475,000.00		212.36
11/02/01	3,475,000.00			3,475,000.00		212.36
11/03/01	3,475,000.00			3,475,000.00		212.36
11/04/01	3,475,000.00			3,475,000.00		212.36
11/05/01	3,475,000.00			3,475,000.00		212.36
11/06/01	3,475,000.00		$25,000.00	3,500,000.00		213.89
11/07/01	3,500,000.00			3,500,000.00		213.89
11/08/01	3,500,000.00			3,500,000.00		213.89
11/09/01	3,500,000.00			3,500,000.00		213.89
11/10/01	3,500,000.00			3,500,000.00		213.89
11/11/01	3,500,000.00			3,500,000.00		213.89
11/12/01	3,500,000.00			3,500,000.00		213.89
11/13/01	3,500,000.00		$25,000.00	3,525,000.00		215.42
11/14/01	3,525,000.00			3,525,000.00		215.42
11/15/01	3,525,000.00	$425,000.00		3,100,000.00		189.44
11/16/01	3,100,000.00		$100,000.00	3,200,000.00		195.56
11/17/01	3,200,000.00			3,200,000.00		195.56
11/18/01	3,200,000.00			3,200,000.00		195.56
11/19/01	3,200,000.00			3,200,000.00		195.56
11/20/01	3,200,000.00			3,200,000.00		195.56
11/21/01	3,200,000.00		$100,000.00	3,300,000.00		201.67
11/22/01	3,300,000.00			3,300,000.00		201.67
11/23/01	3,300,000.00			3,300,000.00		201.67
11/24/01	3,300,000.00			3,300,000.00		201.67
11/25/01	3,300,000.00			3,300,000.00		201.67
11/26/01	3,300,000.00			3,300,000.00		201.67
11/27/01	3,300,000.00			3,300,000.00		201.67
11/28/01	3,300,000.00			3,300,000.00		201.67
11/29/01	3,300,000.00		$25,000.00	3,325,000.00		203.19
11/30/01	3,325,000.00			3,325,000.00		203.19
12/01/01	3,325,000.00			3,325,000.00		184.72
12/02/01	3,325,000.00			3,325,000.00		184.72
12/03/01	3,325,000.00			3,325,000.00		184.72
12/04/01	3,325,000.00			3,325,000.00		184.72
12/05/01	3,325,000.00			3,325,000.00		184.72
12/06/01	3,325,000.00			3,325,000.00		184.72
12/07/01	3,325,000.00		$50,000.00	3,375,000.00		187.50
12/08/01	3,375,000.00			3,375,000.00		187.50
12/09/01	3,375,000.00			3,375,000.00		187.50
12/10/01	3,375,000.00			3,375,000.00		187.50
12/11/01	3,375,000.00			3,375,000.00		187.50
12/12/01	3,375,000.00			3,375,000.00		187.50
12/13/01	3,375,000.00			3,375,000.00		187.50
12/14/01	3,375,000.00	$475,000.00		2,900,000.00		161.11
12/15/01	2,900,000.00			2,900,000.00		161.11
12/16/01	2,900,000.00			2,900,000.00		161.11
12/17/01	2,900,000.00		$725,000.00	3,625,000.00		201.39
12/18/01	3,625,000.00			3,625,000.00		201.39
12/19/01	3,625,000.00			3,625,000.00		201.39
12/20/01	3,625,000.00			3,625,000.00		201.39
12/21/01	3,625,000.00			3,625,000.00		201.39
12/22/01	3,625,000.00			3,625,000.00		201.39
12/23/01	3,625,000.00			3,625,000.00		201.39
12/24/01	3,625,000.00			3,625,000.00		201.39
12/25/01	3,625,000.00			3,625,000.00		201.39
12/26/01	3,625,000.00			3,625,000.00		201.39
12/27/01	3,625,000.00			3,625,000.00		201.39
12/28/01	3,625,000.00			3,625,000.00		201.39
12/29/01	3,625,000.00			3,625,000.00		201.39
12/30/01	3,625,000.00			3,625,000.00		201.39
12/31/01	3,625,000.00	$50,000.00	$100,000.00	3,675,000.00		204.17
Totals	3,575,000.00	$1,525,000.00	$1,625,000.00	$3,675,000.00	$0.00	20,165.96
Account Summary Ending Balance: $3,675,000.00 Maximum Balance: $3,800,000.00 Average Rate: 2.2699%

New England Hydro-Transmission Electric Co., Inc. (Mass Hydro) Borrowing from Money Pool
10/01/2001 to 12/31/2001
	Beginning	Total	Total	Ending	Interest	Interest
Date	Balance	Debits	Credits	Balance	Earned	Charged
10/01/01	0.00		$50,000.00	50,000.00		3.60
10/02/01	50,000.00		$25,000.00	75,000.00		5.40
10/03/01	75,000.00			75,000.00		5.40
10/04/01	75,000.00			75,000.00		5.40
10/05/01	75,000.00		$75,000.00	150,000.00		10.79
10/06/01	150,000.00			150,000.00		10.79
10/07/01	150,000.00			150,000.00		10.79
10/08/01	150,000.00			150,000.00		10.79
10/09/01	150,000.00			150,000.00		10.79
10/10/01	150,000.00			150,000.00		10.79
10/11/01	150,000.00			150,000.00		10.79
10/12/01	150,000.00	$25,000.00		125,000.00		8.99
10/13/01	125,000.00			125,000.00		8.99
10/14/01	125,000.00			125,000.00		8.99
10/15/01	125,000.00	$125,000.00		0.00		0.00
10/16/01	0.00			0.00		0.00
10/17/01	0.00			0.00		0.00
10/18/01	0.00			0.00		0.00
10/19/01	0.00			0.00		0.00
10/20/01	0.00			0.00		0.00
10/21/01	0.00			0.00		0.00
10/22/01	0.00			0.00		0.00
10/23/01	0.00			0.00		0.00
10/24/01	0.00			0.00		0.00
10/25/01	0.00			0.00		0.00
10/26/01	0.00			0.00		0.00
10/27/01	0.00			0.00		0.00
10/28/01	0.00			0.00		0.00
10/29/01	0.00			0.00		0.00
10/30/01	0.00			0.00		0.00
10/31/01	0.00			0.00		0.00
11/01/01	0.00			0.00		0.00
11/02/01	0.00			0.00		0.00
11/03/01	0.00			0.00		0.00
11/04/01	0.00			0.00		0.00
11/05/01	0.00			0.00		0.00
11/06/01	0.00			0.00		0.00
11/07/01	0.00			0.00		0.00
11/08/01	0.00			0.00		0.00
11/09/01	0.00			0.00		0.00
11/10/01	0.00			0.00		0.00
11/11/01	0.00			0.00		0.00
11/12/01	0.00			0.00		0.00
11/13/01	0.00			0.00		0.00
11/14/01	0.00			0.00		0.00
11/15/01	0.00			0.00		0.00
11/16/01	0.00			0.00		0.00
11/17/01	0.00			0.00		0.00
11/18/01	0.00			0.00		0.00
11/19/01	0.00			0.00		0.00
11/20/01	0.00			0.00		0.00
11/21/01	0.00			0.00		0.00
11/22/01	0.00			0.00		0.00
11/23/01	0.00			0.00		0.00
11/24/01	0.00			0.00		0.00
11/25/01	0.00			0.00		0.00
11/26/01	0.00			0.00		0.00
11/27/01	0.00			0.00		0.00
11/28/01	0.00			0.00		0.00
11/29/01	0.00			0.00		0.00
11/30/01	0.00			0.00		0.00
12/01/01	0.00			0.00		0.00
12/02/01	0.00			0.00		0.00
12/03/01	0.00			0.00		0.00
12/04/01	0.00			0.00		0.00
12/05/01	0.00			0.00		0.00
12/06/01	0.00			0.00		0.00
12/07/01	0.00			0.00		0.00
12/08/01	0.00			0.00		0.00
12/09/01	0.00			0.00		0.00
12/10/01	0.00			0.00		0.00
12/11/01	0.00			0.00		0.00
12/12/01	0.00			0.00		0.00
12/13/01	0.00			0.00		0.00
12/14/01	0.00			0.00		0.00
12/15/01	0.00			0.00		0.00
12/16/01	0.00			0.00		0.00
12/17/01	0.00			0.00		0.00
12/18/01	0.00			0.00		0.00
12/19/01	0.00			0.00		0.00
12/20/01	0.00			0.00		0.00
12/21/01	0.00			0.00		0.00
12/22/01	0.00			0.00		0.00
12/23/01	0.00			0.00		0.00
12/24/01	0.00			0.00		0.00
12/25/01	0.00			0.00		0.00
12/26/01	0.00			0.00		0.00
12/27/01	0.00			0.00		0.00
12/28/01	0.00			0.00		0.00
12/29/01	0.00			0.00		0.00
12/30/01	0.00			0.00		0.00
12/31/01	0.00			0.00		0.00
Totals	0.00	$150,000.00	$150,000.00	$0.00	$0.00	122.31
Account Summary Ending Balance: $0.00 Maximum Balance: $150,000.00 Average Rate: 2.5901%

New England Power Co. (NEP) Borrowing from MONEY POOL
10/01/2001 to 12/31/2001
	Beginning	Total	Total	Ending	Interest	Interest
Date	Balance	Debits	Credits	Balance	Earned	Charged
New England Power Co. had no short-term borrowing during the reporting period.

New England Energy Incorporated (NEEI) Borrowing
10/01/2001 to 12/31/2001
	Beginning	Total	Total	Ending	Interest	Interest
Date	Balance	Debits	Credits	Balance	Earned	Charged
New England energy Incorporated (NEEI) had no short-term borrowing during the reporting period.

New England Hydro-Transmission Corporation (NH Hydro) Borrowing from Money Pool
10/01/2001 to 12/31/2001
	Beginning	Total	Total	Ending	Interest	Interest
Date	Balance	Debits	Credits	Balance	Earned	Charged
10/01/01	2,125,000.00		$725,000.00	2,850,000.00		205.04
10/02/01	2,850,000.00			2,850,000.00		205.04
10/03/01	2,850,000.00			2,850,000.00		205.04
10/04/01	2,850,000.00			2,850,000.00		205.04
10/05/01	2,850,000.00			2,850,000.00		205.04
10/06/01	2,850,000.00			2,850,000.00		205.04
10/07/01	2,850,000.00			2,850,000.00		205.04
10/08/01	2,850,000.00			2,850,000.00		205.04
10/09/01	2,850,000.00			2,850,000.00		205.04
10/10/01	2,850,000.00			2,850,000.00		205.04
10/11/01	2,850,000.00			2,850,000.00		205.04
10/12/01	2,850,000.00	$25,000.00		2,825,000.00		203.24
10/13/01	2,825,000.00			2,825,000.00		203.24
10/14/01	2,825,000.00			2,825,000.00		203.24
10/15/01	2,825,000.00	$725,000.00		2,100,000.00		151.08
10/16/01	2,100,000.00	$1,100,000.00		1,000,000.00		71.94
10/17/01	1,000,000.00		$650,000.00	1,650,000.00		118.71
10/18/01	1,650,000.00	$25,000.00		1,625,000.00		116.91
10/19/01	1,625,000.00	$125,000.00		1,500,000.00		107.92
10/20/01	1,500,000.00			1,500,000.00		107.92
10/21/01	1,500,000.00			1,500,000.00		107.92
10/22/01	1,500,000.00			1,500,000.00		107.92
10/23/01	1,500,000.00			1,500,000.00		107.92
10/24/01	1,500,000.00			1,500,000.00		107.92
10/25/01	1,500,000.00			1,500,000.00		107.92
10/26/01	1,500,000.00			1,500,000.00		107.92
10/27/01	1,500,000.00			1,500,000.00		107.92
10/28/01	1,500,000.00			1,500,000.00		107.92
10/29/01	1,500,000.00			1,500,000.00		107.92
10/30/01	1,500,000.00			1,500,000.00		107.92
10/31/01	1,500,000.00			1,500,000.00		107.92
11/01/01	1,500,000.00			1,500,000.00		91.67
11/02/01	1,500,000.00		$25,000.00	1,525,000.00		93.19
11/03/01	1,525,000.00			1,525,000.00		93.19
11/04/01	1,525,000.00			1,525,000.00		93.19
11/05/01	1,525,000.00			1,525,000.00		93.19
11/06/01	1,525,000.00			1,525,000.00		93.19
11/07/01	1,525,000.00			1,525,000.00		93.19
11/08/01	1,525,000.00			1,525,000.00		93.19
11/09/01	1,525,000.00			1,525,000.00		93.19
11/10/01	1,525,000.00			1,525,000.00		93.19
11/11/01	1,525,000.00			1,525,000.00		93.19
11/12/01	1,525,000.00			1,525,000.00		93.19
11/13/01	1,525,000.00		$500,000.00	2,025,000.00		123.75
11/14/01	2,025,000.00			2,025,000.00		123.75
11/15/01	2,025,000.00	$700,000.00		1,325,000.00		80.97
11/16/01	1,325,000.00	$450,000.00		875,000.00		53.47
11/17/01	875,000.00			875,000.00		53.47
11/18/01	875,000.00			875,000.00		53.47
11/19/01	875,000.00		$25,000.00	900,000.00		55.00
11/20/01	900,000.00			900,000.00		55.00
11/21/01	900,000.00		$400,000.00	1,300,000.00		79.44
11/22/01	1,300,000.00			1,300,000.00		79.44
11/23/01	1,300,000.00			1,300,000.00		79.44
11/24/01	1,300,000.00			1,300,000.00		79.44
11/25/01	1,300,000.00			1,300,000.00		79.44
11/26/01	1,300,000.00			1,300,000.00		79.44
11/27/01	1,300,000.00			1,300,000.00		79.44
11/28/01	1,300,000.00	$100,000.00		1,200,000.00		73.33
11/29/01	1,200,000.00			1,200,000.00		73.33
11/30/01	1,200,000.00			1,200,000.00		73.33
12/01/01	1,200,000.00			1,200,000.00		66.67
12/02/01	1,200,000.00			1,200,000.00		66.67
12/03/01	1,200,000.00			1,200,000.00		66.67
12/04/01	1,200,000.00		$25,000.00	1,225,000.00		68.06
12/05/01	1,225,000.00	$25,000.00		1,200,000.00		66.67
12/06/01	1,200,000.00			1,200,000.00		66.67
12/07/01	1,200,000.00		$200,000.00	1,400,000.00		77.78
12/08/01	1,400,000.00			1,400,000.00		77.78
12/09/01	1,400,000.00			1,400,000.00		77.78
12/10/01	1,400,000.00			1,400,000.00		77.78
12/11/01	1,400,000.00			1,400,000.00		77.78
12/12/01	1,400,000.00	$25,000.00		1,375,000.00		76.39
12/13/01	1,375,000.00			1,375,000.00		76.39
12/14/01	1,375,000.00	$575,000.00		800,000.00		44.44
12/15/01	800,000.00			800,000.00		44.44
12/16/01	800,000.00			800,000.00		44.44
12/17/01	800,000.00	$75,000.00		725,000.00		40.28
12/18/01	725,000.00			725,000.00		40.28
12/19/01	725,000.00	$25,000.00		700,000.00		38.89
12/20/01	700,000.00			700,000.00		38.89
12/21/01	700,000.00		$75,000.00	775,000.00		43.06
12/22/01	775,000.00			775,000.00		43.06
12/23/01	775,000.00			775,000.00		43.06
12/24/01	775,000.00			775,000.00		43.06
12/25/01	775,000.00			775,000.00		43.06
12/26/01	775,000.00			775,000.00		43.06
12/27/01	775,000.00			775,000.00		43.06
12/28/01	775,000.00	$300,000.00		475,000.00		26.39
12/29/01	475,000.00			475,000.00		26.39
12/30/01	475,000.00			475,000.00		26.39
12/31/01	475,000.00	$900,000.00	$1,800,000.00	1,375,000.00		76.39
Totals	2,125,000.00	$5,175,000.00	$4,425,000.00	$1,375,000.00	$0.00	8,910.22
Account Summary Ending Balance:$1,375,000.00 Maximum Balance: $2,850,000.00 Average Rate: 2.3427%

National Grid USA Service Co., Inc. (Service Co) Borrowing from Money Pool
10/01/2001 to 12/31/2001
	Beginning	Total	Total	Ending	Interest	Interest
Date	Balance	Debits	Credits	Balance	Earned	Charged
10/01/01	0.00	0.00				0.00
10/02/01	0.00	0.00				0.00
10/03/01	0.00	0.00				0.00
10/04/01	0.00	0.00				0.00
10/05/01	0.00	0.00				0.00
10/06/01	0.00	0.00				0.00
10/07/01	0.00	0.00				0.00
10/08/01	0.00	0.00				0.00
10/09/01	0.00	0.00				0.00
10/10/01	0.00	0.00				0.00
10/11/01	0.00	0.00				0.00
10/12/01	0.00	0.00				0.00
10/13/01	0.00	0.00				0.00
10/14/01	0.00	0.00				0.00
10/15/01	0.00	0.00				0.00
10/16/01	0.00	0.00				0.00
10/17/01	0.00	0.00				0.00
10/18/01	0.00	0.00				0.00
10/19/01	0.00	0.00				0.00
10/20/01	0.00	0.00				0.00
10/21/01	0.00	0.00				0.00
10/22/01	0.00	0.00				0.00
10/23/01	0.00	0.00				0.00
10/24/01	0.00	0.00				0.00
10/25/01	0.00	0.00				0.00
10/26/01	0.00	0.00				0.00
10/27/01	0.00	0.00				0.00
10/28/01	0.00	0.00				0.00
10/29/01	0.00	0.00				0.00
10/30/01	0.00	0.00				0.00
10/31/01	0.00	0.00				0.00
11/01/01	0.00	0.00				0.00
11/02/01	0.00	0.00				0.00
11/03/01	0.00	0.00				0.00
11/04/01	0.00	0.00				0.00
11/05/01	0.00	0.00				0.00
11/06/01	0.00	0.00				0.00
11/07/01	0.00	0.00				0.00
11/08/01	0.00	0.00				0.00
11/09/01	0.00	0.00				0.00
11/10/01	0.00	0.00				0.00
11/11/01	0.00	0.00				0.00
11/12/01	0.00	0.00				0.00
11/13/01	0.00	0.00				0.00
11/14/01	0.00	0.00				0.00
11/15/01	0.00	0.00				0.00
11/16/01	0.00	0.00				0.00
11/17/01	0.00	0.00				0.00
11/18/01	0.00	0.00				0.00
11/19/01	0.00	0.00				0.00
11/20/01	0.00	0.00				0.00
11/21/01	0.00	0.00				0.00
11/22/01	0.00	0.00				0.00
11/23/01	0.00	0.00				0.00
11/24/01	0.00	0.00				0.00
11/25/01	0.00	0.00				0.00
11/26/01	0.00	0.00				0.00
11/27/01	0.00	0.00				0.00
11/28/01	0.00	0.00				0.00
11/29/01	0.00		50,000.00	$50,000.00		3.06
11/30/01	50,000.00		$900,000.00	950,000.00		58.06
12/01/01	950,000.00			950,000.00		52.78
12/02/01	950,000.00			950,000.00		52.78
12/03/01	950,000.00		$725,000.00	1,675,000.00		93.06
12/04/01	1,675,000.00		$525,000.00	2,200,000.00		122.22
12/05/01	2,200,000.00		$275,000.00	2,475,000.00		137.50
12/06/01	2,475,000.00		$250,000.00	2,725,000.00		151.39
12/07/01	2,725,000.00	$2,725,000.00		0.00		0.00
12/08/01	0.00			0.00		0.00
12/09/01	0.00			0.00		0.00
12/10/01	0.00		$75,000.00	75,000.00		4.17
12/11/01	75,000.00		$500,000.00	575,000.00		31.94
12/12/01	575,000.00		$125,000.00	700,000.00		38.89
12/13/01	700,000.00	$700,000.00		0.00		0.00
12/14/01	0.00			0.00		0.00
12/15/01	0.00			0.00		0.00
12/16/01	0.00			0.00		0.00
12/17/01	0.00			0.00		0.00
12/18/01	0.00			0.00		0.00
12/19/01	0.00			0.00		0.00
12/20/01	0.00		$1,000,000.00	1,000,000.00		55.56
12/21/01	1,000,000.00	$1,000,000.00		0.00		0.00
12/22/01	0.00			0.00		0.00
12/23/01	0.00			0.00		0.00
12/24/01	0.00			0.00		0.00
12/25/01	0.00			0.00		0.00
12/26/01	0.00			0.00		0.00
12/27/01	0.00			0.00		0.00
12/28/01	0.00			0.00		0.00
12/29/01	0.00			0.00		0.00
12/30/01	0.00			0.00		0.00
12/31/01	0.00			0.00		0.00
Totals	0.00	$4,425,000.00	$4,425,000.00	$0.00	$0.00	801.39
Account Summary Ending Balance: $0.00 Minimum Balance: $2,725,000.00 Average Rate: 2.0140%

National Grid USA Borrowing
10/01/2001 to 12/31/2001
	Beginning	Total	Total	Ending	Interest	Interest
Date	Balance	Debits	Credits	Balance	Earned	Charged
National Grid USA had no short-term borrowing during the reporting period.