<ARTICLE> UT <CIK> 0000880416 <NAME>NORTH ATLANTIC ENERGY CORPORATION <MULTIPLIER>1,000 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> DEC-31-1998 <BOOK-VALUE> PER-BOOK <TOTAL-NET-UTILITY-PLANT> 618,999 <OTHER-PROPERTY-AND-INVEST> 35,210 <TOTAL-CURRENT-ASSETS> 88,320 <TOTAL-DEFERRED-CHARGES> 202,624 <OTHER-ASSETS> 0 <TOTAL-ASSETS> 945,153 <COMMON> 1 <CAPITAL-SURPLUS-PAID-IN> 160,999 <RETAINED-EARNINGS> 43,196 <TOTAL-COMMON-STOCKHOLDERS-EQ> 204,196 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <LONG-TERM-DEBT-NET> 405,000 <SHORT-TERM-NOTES> 0 <LONG-TERM-NOTES-PAYABLE> 0 <COMMERCIAL-PAPER-OBLIGATIONS> 0 <LONG-TERM-DEBT-CURRENT-PORT> 70,000 <PREFERRED-STOCK-CURRENT> 0 <CAPITAL-LEASE-OBLIGATIONS> 0 <LEASES-CURRENT> 0 <OTHER-ITEMS-CAPITAL-AND-LIAB> 265,957 <TOT-CAPITALIZATION-AND-LIAB> 945,153 <GROSS-OPERATING-REVENUE> 276,685 <INCOME-TAX-EXPENSE> 21,816 <OTHER-OPERATING-EXPENSES> 186,434 <TOTAL-OPERATING-EXPENSES> 222,628 <OPERATING-INCOME-LOSS> 54,057 <OTHER-INCOME-NET> (1,704) <INCOME-BEFORE-INTEREST-EXPEN> 66,731 <TOTAL-INTEREST-EXPENSE> 37,237 <NET-INCOME> 29,494 <PREFERRED-STOCK-DIVIDENDS> 0 <EARNINGS-AVAILABLE-FOR-COMM> 29,494 <COMMON-STOCK-DIVIDENDS> 45,000 <TOTAL-INTEREST-ON-BONDS> 50,082 <CASH-FLOW-OPERATIONS> 128,745 <EPS-PRIMARY> 0.00 <EPS-DILUTED> 0.00