Report of Independent Accountants
To the Board of Trustees and Shareholders
We have reviewed the accompanying condensed consolidated balance sheet of Boston Edison as of June 30,
2000, and the related condensed consolidated statements of income and comprehensive income of retained
earnings for the three and six-month periods ended June 30, 2000 and of cash flows for the six month period
ended June 30, 2000. These consolidated financial statements are the responsibility of management.
We conducted our review in accordance with standards established by the American Institute of Certified Public
Accountants. A review of interim financial information consists principally of applying analytical procedures to
financial data and making inquiries of persons responsible for financial and accounting matters. It is substantially
less in scope than an audit conducted in accordance with generally accepted auditing standards, the objective of
which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not
express such an opinion.
Based on our review, we are not aware of any material modifications that should be made to the accompanying
condensed consolidated interim financial statements in order for them to be in conformity with generally accepted
We previously audited in accordance with generally accepted auditing standards, the consolidated balance sheet
as of December 31, 1999, and the related consolidated statement of income, of retained earnings and of cash
flows for the year then ended (not presented herein), and in our report dated January 26, 2000 we expressed an
unqualified opinion on those consolidated financial statements. In our opinion, the accompanying condensed
consolidated balance sheet information as of June 30, 2000, is fairly stated in all material respects in relation to
the consolidated balance sheet from which it has been derived.