<ARTICLE> UT <CIK> 0000031224 <NAME> EASTERN UTILITIES ASSOCIATES <MULTIPLIER> 1000 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> DEC-31-1998 <BOOK-VALUE> PER-BOOK <TOTAL-NET-UTILITY-PLANT> 651614 <OTHER-PROPERTY-AND-INVEST> 180079 <TOTAL-CURRENT-ASSETS> 176317 <TOTAL-DEFERRED-CHARGES> 294628 <OTHER-ASSETS> 0 <TOTAL-ASSETS> 1302638 <COMMON> 102180 <CAPITAL-SURPLUS-PAID-IN> 215029 <RETAINED-EARNINGS> 56465 <TOTAL-COMMON-STOCKHOLDERS-EQ> 373674 <PREFERRED-MANDATORY> 27994 <PREFERRED> 6901 <LONG-TERM-DEBT-NET> 310346 <SHORT-TERM-NOTES> 63574 <LONG-TERM-NOTES-PAYABLE> 0 <COMMERCIAL-PAPER-OBLIGATIONS> 0 <LONG-TERM-DEBT-CURRENT-PORT> 21911 <PREFERRED-STOCK-CURRENT> 0 <CAPITAL-LEASE-OBLIGATIONS> 0 <LEASES-CURRENT> 0 <OTHER-ITEMS-CAPITAL-AND-LIAB> 498238 <TOT-CAPITALIZATION-AND-LIAB> 1302638 <GROSS-OPERATING-REVENUE> 538801 <INCOME-TAX-EXPENSE> 17957 <OTHER-OPERATING-EXPENSES> 459205 <TOTAL-OPERATING-EXPENSES> 477162 <OPERATING-INCOME-LOSS> 61639 <OTHER-INCOME-NET> 12575 <INCOME-BEFORE-INTEREST-EXPEN> 74214 <TOTAL-INTEREST-EXPENSE> 37199 <NET-INCOME> 37015 <PREFERRED-STOCK-DIVIDENDS> 2305 <EARNINGS-AVAILABLE-FOR-COMM> 34710 <COMMON-STOCK-DIVIDENDS> 33924 <TOTAL-INTEREST-ON-BONDS> 28288 <CASH-FLOW-OPERATIONS> 96939 <EPS-PRIMARY> 1.70 <EPS-DILUTED> 1.70