The merger between The National Grid Group and New EnglandElectric System (NEES) of Westborough, MA, is complete, and NEESofficially has been renamed National Grid USA. The deal wasannounced Dec. 14, 1998. The final sale price for the merger was$3.2 billion, and the final price of NEES shares was $54.207.

Although the NEES name has changed, the names of its localelectric companies — Massachusetts Electric Co., Granite StateElectric Co. (NH), Narragansett Electric Co. (RI), and NantucketElectric Co. — will remain the same. National Grid USA is in theprocess of acquiring Eastern Utilities Associates, a neighboringelectric utility serving customers in Massachusetts and RhodeIsland. That merger is expected to close in the near future.

The National Grid Group-one of the United Kingdom’s 100 largestcompanies — builds, owns and operates electricity andtelecommunications networks around the world, focusing onliberalizing markets. The world’s largest independent electricitytransmission company, National Grid operates networks in England,Wales, Argentina, Zambia, and the United States. Headquarters arein Coventry, England.

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