<ARTICLE> UT
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<BOOK-VALUE>                                  PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                   18,795,564
<OTHER-PROPERTY-AND-INVEST>                  1,780,165
<TOTAL-CURRENT-ASSETS>                       2,572,404
<TOTAL-DEFERRED-CHARGES>                     2,609,968
<OTHER-ASSETS>                                       0
<TOTAL-ASSETS>                              25,758,101
<COMMON>                                     2,064,488
<CAPITAL-SURPLUS-PAID-IN>                    3,753,964
<RETAINED-EARNINGS>                          2,700,704
<TOTAL-COMMON-STOCKHOLDERS-EQ>               8,519,156
<PREFERRED-MANDATORY>                          437,500
<PREFERRED>                                    402,056
<LONG-TERM-DEBT-NET>                         7,923,496
<SHORT-TERM-NOTES>                                   0
<LONG-TERM-NOTES-PAYABLE>                            0
<COMMERCIAL-PAPER-OBLIGATIONS>                  56,073
<LONG-TERM-DEBT-CURRENT-PORT>                  221,133
<PREFERRED-STOCK-CURRENT>                            0
<CAPITAL-LEASE-OBLIGATIONS>                          0
<LEASES-CURRENT>                                     0
<OTHER-ITEMS-CAPITAL-AND-LIAB>               8,198,687
<TOT-CAPITALIZATION-AND-LIAB>               25,758,101
<GROSS-OPERATING-REVENUE>                    4,387,434
<INCOME-TAX-EXPENSE>                           219,297
<OTHER-OPERATING-EXPENSES>                   3,525,665
<TOTAL-OPERATING-EXPENSES>                   3,525,665
<OPERATING-INCOME-LOSS>                        861,769
<OTHER-INCOME-NET>                              65,424
<INCOME-BEFORE-INTEREST-EXPEN>                 927,193
<TOTAL-INTEREST-EXPENSE>                       335,412
<NET-INCOME>                                   372,484
<PREFERRED-STOCK-DIVIDENDS>                     16,556
<EARNINGS-AVAILABLE-FOR-COMM>                  355,928
<COMMON-STOCK-DIVIDENDS>                       404,138
<TOTAL-INTEREST-ON-BONDS>                            0
<CASH-FLOW-OPERATIONS>                       1,378,001
<EPS-PRIMARY>                                     0.86
<EPS-DILUTED>                                     0.86