DF 98-118
                                     
                         Concord Electric Company
                                     
                Petition for Authority to Issue Securities
                                     
             Order Nisi Approving Petition to Issue Securities
                                     
                          O R D E R  N O. 22,987
                                     
                               July 24, 1998

         On July 1, 1998, the Petitioner, Concord Electric
Company (CECo or Company), filed a petition with the New
     Hampshire Public Utilities Commission (Commission) for
     authorization to issue securities pursuant to RSA 369, including
     the mortgaging of the Company's present and future property,
     tangible and intangible, including franchises, as security.  CECo
     proposes to issue and sell First Mortgage Bonds, Series J,
     (Bonds) in an amount up to $10,000,000 to an institutional
     investor, namely Allstate Insurance Company, for a thirty year
     term at an interest rate not to exceed 6.96%.  In addition, prior
     to the issuance and sale of the bonds, CECo will receive
     $1,250,000 of capital contribution from its parent, Unitil
     Corporation.
         The Bonds are to be issued under a Supplemental
     Indenture supplementing the Company's existing Indenture of
     Mortgage and Deed of Trust to Old Colony Trust Company, Trustee
     (to which State Street Bank and Trust Company is successor
     Trustee), dated as of July 15, 1958, as heretofore supplemented
     by existing First, Second, Third, Fourth, Fifth, Sixth, Seventh
     and Eighth Supplemental Indentures as well as by a further
     proposed Ninth Supplemental Indenture to be given incident to the
     issue of the Bonds.  The Company proposes to use the net proceeds
     to be derived from the issuance and sale of the Bonds: (1) to pay
     off outstanding short-term indebtedness incurred for additions,
     extensions and betterments to the Company's property, plant and
     equipment, in the amount of approximately $5,824,000; (2) to
     redeem $5,200,000 principal amount outstanding of First Mortgage
     Bonds, Series H, 9.43%, including a $650,000 sinking fund payment
     on such Bonds, due prior to the financing; (3) to defray the
     costs and expense of the financing and redemption contemplated in
     this Petition; and (4) to finance future expenditures for
     additions, extensions, and betterments to property, plant and
     equipment.
         The Company has requested that the Commission authorize
     the costs associated with the redemption of the First Mortgage
     Bonds, Series H, and the remaining unamortized debt expense
     related to that issue, be incorporated as a portion of the cost
     of the new financing contemplated herein.  This cost is estimated
     at $156,023 which, when combined with the estimated costs for the
     new financing of $70,000, results in a total estimated cost of
     $226,023 to be amortized over the life of the proposed new issue.
         We have reviewed the Company's request for
     authorization to issue securities and, after such investigation
     and consideration, are satisfied that the granting of the
     Petition is in the public good.  
         Based upon the foregoing, it is hereby 
         ORDERED NISI, that Concord Electric Company is hereby
     authorized, pursuant to RSA 369, to issue and sell $10,000,000 of
     First Mortgage Bonds, Series J, at an interest rate not to exceed
     6.96%, for a term not to exceed 30 years, such Bonds to be sold
     to Allstate Insurance Company under a Supplemental Indenture to
     the Company's existing Indenture of Mortgage and Deed of Trust;
     and it is
         FURTHER ORDERED, that CECo is authorized to mortgage
     its present and future property, tangible and intangible,
     including franchises, as security for the Bonds to be issued; and
     it is
         FURTHER ORDERED, that the proceeds from the sale of
     said Bonds and from the capital contribution from Unitil
     Corporation be used solely for the purposes described in this
     Order; and it is
         FURTHER ORDERED, that the Company is authorized to
     recover as a portion of the cost of this new financing the costs
     associated with the redemption of the First Mortgage Bonds,
     Series H, and the remaining unamortized debt expense related to
     that issue; and it is
         FURTHER ORDERED, that on January 1 and July 1 of each
     year the Company shall file with this Commission a detailed
     statement, duly sworn by its Treasurer, showing the disposition
     of the proceeds of its financing activities until the whole of
     such proceeds have been fully accounted for; and it is
         FURTHER ORDERED, that pursuant to N.H. Admin. Rules,
     Puc 1604.03 or Puc 1605.03, the Petitioner shall cause a copy of
     this Order Nisi to be published once in a statewide newspaper of
     general circulation or of circulation in those portions of the
     state where operations are conducted, such publication to be no
     later than July 31, 1998 and to be documented by affidavit filed
     with this office on or before August 7, 1998; and it is
         FURTHER ORDERED, that all persons interested in
     responding to this petition be notified that they may submit
     their comments or file a written request for a hearing on this
     matter before the Commission no later than August 14, 1998; and
     it is
         FURTHER ORDERED, that any party interested in
     responding to such comments or request for hearing shall do so no
     later than August 21, 1998; and it is
         FURTHER ORDERED, that this Order Nisi shall be
     effective August 24, 1998, unless the Commission provides
     otherwise in a supplemental order issued prior to the effective
     date.
         By order of the Public Utilities Commission of New
     Hampshire this twenty-fourth day of July, 1998.
     
     
                                                                     
        Douglas L. Patch    Bruce B. Ellsworth        Susan S. Geiger
            Chairman           Commissioner            Commissioner
     
     Attested by:
     
     
     
                                     
     Thomas B. Getz
     Executive Director and Secretary