<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>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<BOOK-VALUE>                                  PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                      6877959
<OTHER-PROPERTY-AND-INVEST>                     411106
<TOTAL-CURRENT-ASSETS>                          970444
<TOTAL-DEFERRED-CHARGES>                       5468229
<OTHER-ASSETS>                                  133449
<TOTAL-ASSETS>                                13861187
<COMMON>                                        187365
<CAPITAL-SURPLUS-PAID-IN>                      2336737
<RETAINED-EARNINGS>                             646040
<TOTAL-COMMON-STOCKHOLDERS-EQ>                 3170142
<PREFERRED-MANDATORY>                            68990
<PREFERRED>                                     440000
<LONG-TERM-DEBT-NET>                           6417225
<SHORT-TERM-NOTES>                                   0
<LONG-TERM-NOTES-PAYABLE>                            0
<COMMERCIAL-PAPER-OBLIGATIONS>                       0
<LONG-TERM-DEBT-CURRENT-PORT>                   312240
<PREFERRED-STOCK-CURRENT>                         7620
<CAPITAL-LEASE-OBLIGATIONS>                          0
<LEASES-CURRENT>                                     0
<OTHER-ITEMS-CAPITAL-AND-LIAB>                 3444970
<TOT-CAPITALIZATION-AND-LIAB>                 13861187
<GROSS-OPERATING-REVENUE>                      3826373
<INCOME-TAX-EXPENSE>                           (66728)
<OTHER-OPERATING-EXPENSES>                     3659350
<TOTAL-OPERATING-EXPENSES>                     3659350
<OPERATING-INCOME-LOSS>                         167023
<OTHER-INCOME-NET>                               42602
<INCOME-BEFORE-INTEREST-EXPEN>                  209625
<TOTAL-INTEREST-EXPENSE>                        397178
<NET-INCOME>                                  (120825)
<PREFERRED-STOCK-DIVIDENDS>                      36555
<EARNINGS-AVAILABLE-FOR-COMM>                 (157380)
<COMMON-STOCK-DIVIDENDS>                             0
<TOTAL-INTEREST-ON-BONDS>                            0
<CASH-FLOW-OPERATIONS>                       (3240455)
<EPS-PRIMARY>                                    (.95)
<EPS-DILUTED>                                        0