<ARTICLE> UT <LEGEND> This schedule contains restated summary financial information extracted from the balance sheet, statement of income and statement of cash flows contained in Form 10-K of Commonwealth Energy System for the fiscal year ended December 31, 1998 and is qualified in its entirety by reference to such financial statements. </LEGEND> <RESTATED> <CIK> 0000071304 <NAME> COMMONWEALTH ENERGY SYSTEM <MULTIPLIER> 1,000 <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> DEC-31-1998 <PERIOD-TYPE> YEAR <BOOK-VALUE> PER-BOOK <TOTAL-NET-UTILITY-PLANT> 1,019,324 <OTHER-PROPERTY-AND-INVEST> 14,031 <TOTAL-CURRENT-ASSETS> 285,711 <TOTAL-DEFERRED-CHARGES> 262,561 <OTHER-ASSETS> 172,239 <TOTAL-ASSETS> 1,753,866 <COMMON> 43,081 <CAPITAL-SURPLUS-PAID-IN> 112,170 <RETAINED-EARNINGS> 294,341 <TOTAL-COMMON-STOCKHOLDERS-EQ> 449,592 <PREFERRED-MANDATORY> 11,380 <PREFERRED> 0 <LONG-TERM-DEBT-NET> 385,602 <SHORT-TERM-NOTES> 0 <LONG-TERM-NOTES-PAYABLE> 2,000 <COMMERCIAL-PAPER-OBLIGATIONS> 0 <LONG-TERM-DEBT-CURRENT-PORT> 57,123 <PREFERRED-STOCK-CURRENT> 820 <CAPITAL-LEASE-OBLIGATIONS> 10,982 <LEASES-CURRENT> 1,340 <OTHER-ITEMS-CAPITAL-AND-LIAB> 835,027 <TOT-CAPITALIZATION-AND-LIAB> 1,753,866 <GROSS-OPERATING-REVENUE> 980,115 <INCOME-TAX-EXPENSE> 26,253 <OTHER-OPERATING-EXPENSES> 865,002 <TOTAL-OPERATING-EXPENSES> 891,255 <OPERATING-INCOME-LOSS> 88,860 <OTHER-INCOME-NET> 12,453 <INCOME-BEFORE-INTEREST-EXPEN> 101,313 <TOTAL-INTEREST-EXPENSE> 46,909 <NET-INCOME> 54,404 <PREFERRED-STOCK-DIVIDENDS> 930 <EARNINGS-AVAILABLE-FOR-COMM> 53,474 <COMMON-STOCK-DIVIDENDS> 34,928 <TOTAL-INTEREST-ON-BONDS> 37,435 <CASH-FLOW-OPERATIONS> 81,949 <EPS-PRIMARY> 2.48 <EPS-DILUTED> 2.48