File No. 70-9543


                          UNITED STATES OF AMERICA
                     SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549



Application of Northeast Utilities         )   CERTIFICATE PURSUANT TO RULE 24
and Northeast Generation Services Company  )   UNDER THE PUBLIC UTILITY HOLDING
on Form U-1                                )   COMPANY ACT OF 1935

     Pursuant to the requirements of Rule 24 under the Public Utility Holding
Company Act of 1935, Northeast Utilities ("NU"), a registered holding company,
hereby files this quarterly report as required by the Securities and Exchange
Commission's order authorizing the use of proceeds of financing transaction
for investment in Exempt Wholesale Generators.  (HCAR No. 35-27148, March 7,
2000, File No. 70-9543) ("Order").

     For the quarter ended June 30, 2003, the following information is reported
pursuant to the Order.

1)   A computation in accordance with rule 53(a) (as modified by the
     Commission's order in this proceeding) of NU's aggregate investment in
     EWGs.

     As of June 30, 2003, NU's aggregate investment in EWGs was
     approximately $448.2 million, or 57.8% of its average Consolidated
     Retained Earnings for the most recent four quarters of approximately
     $775.0 million.

2)   Consolidated capitalization ratios of NU as of the end of that quarter,
     with consolidated debt to include all short-term debt and non-recourse
     debt of the EWG:

     NU Consolidated Capitalization

    ---------------------------------------------------------------------------
                                                 As of June 30, 2003
     --------------------------------------------------------------------------
                                          (Thousands of Dollars)       %
                                                                     -----

     Common shareholders' equity                 $2,214,494          32.9%
     Preferred stock                                116,200           1.7
     Long-term and short-term debt                2,586,828          38.4
     Rate reduction bonds                         1,816,998          27.0
                                                 ----------         -----
                                                 $6,734,520         100.0%
                                                 ==========         =====

3)   Analysis of the growth in consolidated retained earnings which segregates
     total earnings growth of Northeast Generation Company (NGC) from that
     attributable to other subsidiaries of NU.

     Retained earnings statement as of June 30, 2003:

     --------------------------------------------------------------------------
                                                NGC           NU Consolidated
     --------------------------------------------------------------------------
                                                  (Thousands of Dollars)

     Beginning balance as of April 1, 2003    $34,774              $808,352
     Additions:
       Net income                              10,688                26,869
     Deductions:
       Dividends declared-common shares         7,500                36,419
       Other                                     -                        6
                                              -------              --------
     Ending balance as of June 30, 2003       $37,962              $798,796
                                              =======              ========
     --------------------------------------------------------------------------

4)   A statement of revenues and net income for the EWG for the twelve months
     ending as of the end of that quarter.

     ---------------------------------------------------------
     Twelve Months Ended June 30, 2003            NGC
     ---------------------------------------------------------
                                       (Thousands of Dollars)

     Revenues                                   $135,444
     Net Income                                 $ 34,643
     ------------------------------------------------------



                            SIGNATURE


     Pursuant to the requirements of the Public Utility Holding Company Act
of 1935, the undersigned company has duly caused this Certificate to be
signed on its behalf by the undersigned thereunto duly authorized.


NORTHEAST UTILITIES



/s/ John P. Stack
    ------------------------------------------
    John P. Stack
    Vice President - Accounting and Controller
    Northeast Utilities
    P.O. Box 270
    Hartford, CT 06141-0270
    August 26, 2003