Form 4

FORM 4

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

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Check this box if no longer subject
to Section 16. Form 4 or Form 5 obligations may continue.

See Instruction 1(b).

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person*
        Shivery,       Charles        W.       		2. Issuer Name and Ticker or Trading Symbol
       NORTHEAST UTILITIES (NU) 		6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
      Director                              10% Owner
X    Officer (give title below)         Other (specify below)

President - Competitive Group and Officer
and Director of Certain Subsidiaries

(Last)          (First)         (Middle)

      c/o Northeast Utilities
      107 Selden Street

3. I.R.S. Identification Number of Reporting
Person, if an entity (voluntary)

 

4. Statement for
Month/Day/Year

   1/31/2003

(Street)

Berlin,                  CT                  06037

5. If Amendment,
Date of Original
(Month/Day/Year)
  		7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
    Form filed by More than One Reporting Person

   (City)                    (State)                 (Zip)

Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security
(Instr. 3)

2.Trans-
    action
    Date
(Month/ Day/
Year)

2A. Deemed
    Execution
Date,if any
(Month/Day/
Year)

3. Trans-
action Code
(Instr. 8)

4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 & 5)

5. Amount of
Securities
Beneficially
Owned Following
Reported Transactions(s)
(Instr. 3 & 4)

6. Ownership
Form:
Direct (D)
or Indirect (I)
(Instr. 4)

7. Nature of Indirect
Beneficial Ownership
(Instr. 4)

Code

V

Amount

(A) or (D)

Price

Common Shares, $5 par value

1/31/2003

 

A

 

492 shs
See Note 1

A

N/A

492 shs
See Note 1

I

Deferred Comp Plan

Common Shares, $5 par value

2/3/2003

 

P

V

1,000 shs

A

$14.23

1,500 shs

D

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number
FORM 4 (continued)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security

(Instr. 3)

2. Conversion
or Exercise
Price of Derivative Security

3. Transaction
Date

(Month/
Day/
Year)

3A. Deemed
Execution
Date,
if any
(Month/
Day/
Year)

4. Trans-
action
Code

(Instr. 8)

5. Number of Derivative Securities
Acquired (A) or
Disposed of (D)

(Instr. 3, 4 & 5)

6. Date Exercisable
and Expiration
Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 & 4)

8. Price of
Derivative
Security
(Instr. 5)

9. Number of
Derivative
Securities
Beneficially
Owned
Following
Reported
Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative
Security:
Direct (D)
or Indirect (I)
(Instr. 4)

11. Nature of
Indirect Beneficial
Ownership
(Instr. 4)

Code

V

(A)

(D)

Date Exer-cisable

Expira-
tion
Date

          Title          

Amount or Number of
Shares

Options to Purchase

 

 

 

 

 

 

 

 

 

 

 

 

  29,024

D

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Explanation of Responses:
Note 1. Shares receipt of which has been deferred pursuant to the Northeast Utilities Deferred Compensation Plan for Executives, as of January 31, 2003, according to information supplied by the plan's recordkeeper. Acquisition is exempt under Rule 16b-3(d)(3).

  /s/ Charles W. Shivery
**Signature of Reporting Person		 February 3, 2003
Date
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
          If space is insufficient, See Instruction 6 for procedure.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.