WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<PAGE>
<ARTICLE>                             UT
<LEGEND>                              THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
                                      FROM THE BALANCE SHEET AND RELATED STATEMENTS OF INCOME,
                                      RETAINED EARNINGS AND CASH FLOWS OF NEW ENGLAND POWER COMPANY,
                                      AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
                                      STATEMENTS.
</LEGEND>
<SUBSIDIARY>
   <NUMBER>                           1
   <CIK>                              0000071337
   <NAME>                             NEW ENGLAND POWER COMPANY
<MULTIPLIER>                          1,000
       
<S>                                                                     <C>              
<FISCAL-YEAR-END>                    DEC-31-1998
<PERIOD-END>                         DEC-31-1998
<PERIOD-TYPE>                             12-MOS
<BOOK-VALUE>                            PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                458,113
<OTHER-PROPERTY-AND-INVEST>               88,121
<TOTAL-CURRENT-ASSETS>                   350,653
<TOTAL-DEFERRED-CHARGES>               1,517,901    <F1>
<OTHER-ASSETS>                                 0
<TOTAL-ASSETS>                         2,414,788
<COMMON>                                    74,998
<CAPITAL-SURPLUS-PAID-IN>                241,223
<RETAINED-EARNINGS>                      204,603
<TOTAL-COMMON-STOCKHOLDERS-EQ>           520,896    <F3>
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                1,567
<LONG-TERM-DEBT-NET>                     371,765
<SHORT-TERM-NOTES>                             0
<LONG-TERM-NOTES-PAYABLE>                      0
<COMMERCIAL-PAPER-OBLIGATIONS>                 0
<LONG-TERM-DEBT-CURRENT-PORT>                  0
<PREFERRED-STOCK-CURRENT>                      0
<CAPITAL-LEASE-OBLIGATIONS>                    0
<LEASES-CURRENT>                               0
<OTHER-ITEMS-CAPITAL-AND-LIAB>         1,520,560
<TOT-CAPITALIZATION-AND-LIAB>          2,414,788
<GROSS-OPERATING-REVENUE>              1,218,340
<INCOME-TAX-EXPENSE>                      73,594
<OTHER-OPERATING-EXPENSES>               987,384
<TOTAL-OPERATING-EXPENSES>             1,060,978
<OPERATING-INCOME-LOSS>                  157,362
<OTHER-INCOME-NET>                         6,035
<INCOME-BEFORE-INTEREST-EXPEN>           163,397
<TOTAL-INTEREST-EXPENSE>                  40,502
<NET-INCOME>                             122,895
<PREFERRED-STOCK-DIVIDENDS>                1,230
<EARNINGS-AVAILABLE-FOR-COMM>            121,665
<COMMON-STOCK-DIVIDENDS>                 130,610
<TOTAL-INTEREST-ON-BONDS>                 30,775
<CASH-FLOW-OPERATIONS>                  (413,049)
<EPS-PRIMARY>                                  0    <F2>
<EPS-DILUTED>                                  0    <F2>
<FN>
<F1>                                  Total deferred charges includes other assets.
<F2>                                  Per share data is not relevant because the Company's common stock is
                                      wholly-owned by New England Electric System.
<F3>                                  Total common stockholders equity includes the unrealized gain on
securities.
</FN>