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

          *Trustee                                

(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

   01/02/2003

(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

1/2/2003

 

A

 

1,000 shs

A

$15.49

2,500 shs

D

 

Common Shares, $5 par value

 

 

 

 

 

 

 

5,000 shs

I

By IRA
Trustee

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
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).

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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. Owner-
ship Form
of Deriv-
ative
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

$18.45

2/26/2002

 

A

V

2,500

 

See
Note 1

2/26/
2012

NU Common
Shares, $5 par

2,500

N/A

5,000

D

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Explanation of Responses:

Note 1. 50 percent on 2/26/2002, 50 percent on 2/26/2003.
  /s/ James F. Cordes, By: O. Kay Comendul/POA
              
**Signature of Reporting Person		 January 6, 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.