<ARTICLE> UT <LEGEND> THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE UNAUDITED FINANCIAL STATEMENTS OF WISCONSIN ELECTRIC POWER COMPANY FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. <MULTIPLIER> 1,000 <CURRENCY> U.S. DOLLARS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> SEP-30-1998 <PERIOD-TYPE> 9-MOS <EXCHANGE-RATE> 1 <BOOK-VALUE> PER-BOOK <TOTAL-NET-UTILITY-PLANT> 3,212,701 <OTHER-PROPERTY-AND-INVEST> 514,401 <TOTAL-CURRENT-ASSETS> 507,738 <TOTAL-DEFERRED-CHARGES> 0 <OTHER-ASSETS> 419,934 <TOTAL-ASSETS> 4,654,774 <COMMON> 332,893 <CAPITAL-SURPLUS-PAID-IN> 380,689 <RETAINED-EARNINGS> 985,840 <TOTAL-COMMON-STOCKHOLDERS-EQ> 1,699,422 <PREFERRED-MANDATORY> 0 <PREFERRED> 30,450 <LONG-TERM-DEBT-NET> 1,209,774 <SHORT-TERM-NOTES> 50,495 <LONG-TERM-NOTES-PAYABLE> 171,962 <COMMERCIAL-PAPER-OBLIGATIONS> 63,864 <LONG-TERM-DEBT-CURRENT-PORT> 52,905 <PREFERRED-STOCK-CURRENT> 0 <CAPITAL-LEASE-OBLIGATIONS> 173,601 <LEASES-CURRENT> 23,095 <OTHER-ITEMS-CAPITAL-AND-LIAB> 1,179,206 <TOT-CAPITALIZATION-AND-LIAB> 4,654,774 <GROSS-OPERATING-REVENUE> 1,469,055 <INCOME-TAX-EXPENSE> 73,369 <OTHER-OPERATING-EXPENSES> 1,190,813 <TOTAL-OPERATING-EXPENSES> 1,264,182 <OPERATING-INCOME-LOSS> 204,873 <OTHER-INCOME-NET> 18,072 <INCOME-BEFORE-INTEREST-EXPEN> 222,945 <TOTAL-INTEREST-EXPENSE> 83,021 <NET-INCOME> 139,924 <PREFERRED-STOCK-DIVIDENDS> 902 <EARNINGS-AVAILABLE-FOR-COMM> 139,022 <COMMON-STOCK-DIVIDENDS> 134,108 <TOTAL-INTEREST-ON-BONDS> 0 <CASH-FLOW-OPERATIONS> 432,897 <EPS-PRIMARY> 0 <EPS-DILUTED> 0 <FN> Earnings per share of common stock is not applicable because all of the company's common stock is owned by Wisconsin Energy Corporation. See financial statements and notes in accompanying 10-Q.