<ARTICLE> UT <CIK> 0000012473 <NAME> BLACKSTONE VALLEY ELECTRIC COMPANY <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> 85650 <OTHER-PROPERTY-AND-INVEST> 196 <TOTAL-CURRENT-ASSETS> 19132 <TOTAL-DEFERRED-CHARGES> 29167 <OTHER-ASSETS> 0 <TOTAL-ASSETS> 134145 <COMMON> 9203 <CAPITAL-SURPLUS-PAID-IN> 17908 <RETAINED-EARNINGS> 14547 <TOTAL-COMMON-STOCKHOLDERS-EQ> 41658 <PREFERRED-MANDATORY> 0 <PREFERRED> 6130 <LONG-TERM-DEBT-NET> 32000 <SHORT-TERM-NOTES> 0 <LONG-TERM-NOTES-PAYABLE> 0 <COMMERCIAL-PAPER-OBLIGATIONS> 0 <LONG-TERM-DEBT-CURRENT-PORT> 1500 <PREFERRED-STOCK-CURRENT> 0 <CAPITAL-LEASE-OBLIGATIONS> 0 <LEASES-CURRENT> 0 <OTHER-ITEMS-CAPITAL-AND-LIAB> 52857 <TOT-CAPITALIZATION-AND-LIAB> 134145 <GROSS-OPERATING-REVENUE> 130202 <INCOME-TAX-EXPENSE> 3245 <OTHER-OPERATING-EXPENSES> 118197 <TOTAL-OPERATING-EXPENSES> 121442 <OPERATING-INCOME-LOSS> 8760 <OTHER-INCOME-NET> (71) <INCOME-BEFORE-INTEREST-EXPEN> 8689 <TOTAL-INTEREST-EXPENSE> 3784 <NET-INCOME> 4905 <PREFERRED-STOCK-DIVIDENDS> 289 <EARNINGS-AVAILABLE-FOR-COMM> 4616 <COMMON-STOCK-DIVIDENDS> 1049 <TOTAL-INTEREST-ON-BONDS> 3030 <CASH-FLOW-OPERATIONS> 9997 <EPS-PRIMARY> 0 <EPS-DILUTED> 0