SECURITIES AND EXCHANGE COMMISSION
                         Washington, DC  20549


                               FORM 8-K

                            CURRENT REPORT


                     Pursuant to Section 13 of the
                    Securities Exchange Act of 1934


          Date of Earliest Event Reported:  December 7, 1994


                       NEW ENGLAND POWER COMPANY

          (exact name of registrant as specified in charter)


Massachusetts
(state or other
jurisdiction of
incorporation)
0-1229
(Commission
File No.)
04-1663070
(I.R.S. Employer
Identification No.)

          25 Research Drive, Westborough, Massachusetts 01582

(Address of principal executive offices)

(508) 366-9011

(Registrant's telephone number, including area code)

Item 5.  Other Events
                       

     New England Power Company (NEP), a subsidiary of New England
Electric System, announced on December 8, 1994, that it will not
increase its base wholesale electricity rates until at least 1997
if its wholesale rate agreement, filed on December 7, 1994 with
the Federal Energy Regulatory Commission (FERC), is approved. 
The agreement avoids any increase in NEP's base rates associated
with the completion and placing into service of the re-powered
Manchester Street Station in Providence, R.I.  NEP has not
increased its base rates since 1991.  The agreement is subject to
FERC approval.


                               SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this Current Report on
Form 8-K to be signed on its behalf by the undersigned thereunto
duly authorized.

                                 NEW ENGLAND POWER COMPANY


                                      s/Michael E. Jesanis
                                 By                            
                                    Michael E. Jesanis
                                    Treasurer


Date:   December 9, 1994