<ARTICLE> UT
<SUBSIDIARY>
   <NUMBER>  1
   <NAME> POTOMAC CAPITAL INVESTMENT CORPORATION
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<BOOK-VALUE>                                  PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                    4,401,171
<OTHER-PROPERTY-AND-INVEST>                          0
<TOTAL-CURRENT-ASSETS>                         416,066
<TOTAL-DEFERRED-CHARGES>                       686,951
<OTHER-ASSETS>                               1,387,698
<TOTAL-ASSETS>                               6,891,886
<COMMON>                                       118,500
<CAPITAL-SURPLUS-PAID-IN>                    1,010,407
<RETAINED-EARNINGS>                            760,285
<TOTAL-COMMON-STOCKHOLDERS-EQ>               1,889,192
<PREFERRED-MANDATORY>                          142,500
<PREFERRED>                                    125,298
<LONG-TERM-DEBT-NET>                         1,767,598
<SHORT-TERM-NOTES>                               8,090<F1>
<LONG-TERM-NOTES-PAYABLE>                            0
<COMMERCIAL-PAPER-OBLIGATIONS>                 123,300<F1>
<LONG-TERM-DEBT-CURRENT-PORT>                  151,460
<PREFERRED-STOCK-CURRENT>                          985
<CAPITAL-LEASE-OBLIGATIONS>                    162,936      
<LEASES-CURRENT>                                20,772
<OTHER-ITEMS-CAPITAL-AND-LIAB>               2,499,755
<TOT-CAPITALIZATION-AND-LIAB>                6,891,886
<GROSS-OPERATING-REVENUE>                    2,010,311
<INCOME-TAX-EXPENSE>                           134,085 
<OTHER-OPERATING-EXPENSES>                   1,527,787
<TOTAL-OPERATING-EXPENSES>                   1,661,872
<OPERATING-INCOME-LOSS>                        348,439
<OTHER-INCOME-NET>                              27,924 
<INCOME-BEFORE-INTEREST-EXPEN>                 376,363
<TOTAL-INTEREST-EXPENSE>                       139,403
<NET-INCOME>                                   236,960 
<PREFERRED-STOCK-DIVIDENDS>                     16,604
<EARNINGS-AVAILABLE-FOR-COMM>                  220,356 
<COMMON-STOCK-DIVIDENDS>                       196,612 
<TOTAL-INTEREST-ON-BONDS>                      133,000<F2>
<CASH-FLOW-OPERATIONS>                         467,839
<EPS-PRIMARY>                                    $1.86 
<EPS-DILUTED>                                        0<F3>
<FN>
<F1>Included on the Balance Sheet in the caption "Short-term debt."
<F2>Total annualized interest costs for all utility long-term debt outstanding
at December 31, 1996.
<F3>No material dilution would occur if all the convertible preferred stock and
debentures were converted into common stock.
</FN>