<ARTICLE> UT
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET, CONSOLIDATED STATEMENT OF INCOME, AND
CONSOLIDATED STATEMENT OF CASH FLOWS AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1000
       


                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               SEP-30-1998
<BOOK-VALUE>                                  PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                      6869833
<OTHER-PROPERTY-AND-INVEST>                     400815
<TOTAL-CURRENT-ASSETS>                          958101
<TOTAL-DEFERRED-CHARGES>                       4983467
<OTHER-ASSETS>                                  129114
<TOTAL-ASSETS>                                13341330
<COMMON>                                        187365
<CAPITAL-SURPLUS-PAID-IN>                      2336917
<RETAINED-EARNINGS>                             672497
<TOTAL-COMMON-STOCKHOLDERS-EQ>                 3196779
<PREFERRED-MANDATORY>                            68990
<PREFERRED>                                     440000
<LONG-TERM-DEBT-NET>                           6414340
<SHORT-TERM-NOTES>                                   0
<LONG-TERM-NOTES-PAYABLE>                            0
<COMMERCIAL-PAPER-OBLIGATIONS>                       0
<LONG-TERM-DEBT-CURRENT-PORT>                   306665
<PREFERRED-STOCK-CURRENT>                         7620
<CAPITAL-LEASE-OBLIGATIONS>                          0
<LEASES-CURRENT>                                     0
<OTHER-ITEMS-CAPITAL-AND-LIAB>                 2906936
<TOT-CAPITALIZATION-AND-LIAB>                 13341330
<GROSS-OPERATING-REVENUE>                      2939941
<INCOME-TAX-EXPENSE>                           (50337)
<OTHER-OPERATING-EXPENSES>                     2876181
<TOTAL-OPERATING-EXPENSES>                     2876181
<OPERATING-INCOME-LOSS>                          63760
<OTHER-INCOME-NET>                               47620
<INCOME-BEFORE-INTEREST-EXPEN>                  111380
<TOTAL-INTEREST-EXPENSE>                        265109
<NET-INCOME>                                  (103392)
<PREFERRED-STOCK-DIVIDENDS>                      27531
<EARNINGS-AVAILABLE-FOR-COMM>                 (130923)
<COMMON-STOCK-DIVIDENDS>                             0
<TOTAL-INTEREST-ON-BONDS>                            0
<CASH-FLOW-OPERATIONS>                       (3269838)
<EPS-PRIMARY>                                    (.82)
<EPS-DILUTED>                                        0