<ARTICLE>                                           UT

                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                               DEC-31-2000
<PERIOD-START>                                  JAN-01-2000
<PERIOD-END>                                    MAR-31-2000
<BOOK-VALUE>                                       PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                            99,247
<OTHER-PROPERTY-AND-INVEST>                       3,873,577
<TOTAL-CURRENT-ASSETS>                              273,422
<TOTAL-DEFERRED-CHARGES>                             17,941
<OTHER-ASSETS>                                       60,147
<TOTAL-ASSETS>                                    4,324,334
<COMMON>                                                100
<CAPITAL-SURPLUS-PAID-IN>                           789,608
<RETAINED-EARNINGS>                                 298,819
<TOTAL-COMMON-STOCKHOLDERS-EQ>                    1,088,527
<PREFERRED-MANDATORY>                                     0
<PREFERRED>                                         508,200
<LONG-TERM-DEBT-NET>                              1,500,584
<SHORT-TERM-NOTES>                                        0
<LONG-TERM-NOTES-PAYABLE>                                 0
<COMMERCIAL-PAPER-OBLIGATIONS>                            0
<LONG-TERM-DEBT-CURRENT-PORT>                       174,748
<PREFERRED-STOCK-CURRENT>                                 0
<CAPITAL-LEASE-OBLIGATIONS>                               0
<LEASES-CURRENT>                                          0
<OTHER-ITEMS-CAPITAL-AND-LIAB>                    1,051,275
<TOT-CAPITALIZATION-AND-LIAB>                     4,324,334
<GROSS-OPERATING-REVENUE>                           215,207
<INCOME-TAX-EXPENSE>                                 14,199
<OTHER-OPERATING-EXPENSES>                          135,966
<TOTAL-OPERATING-EXPENSES>                          150,165
<OPERATING-INCOME-LOSS>                              79,021
<OTHER-INCOME-NET>                                    1,061
<INCOME-BEFORE-INTEREST-EXPEN>                       80,082
<TOTAL-INTEREST-EXPENSE>                             35,071
<NET-INCOME>                                         31,032
<PREFERRED-STOCK-DIVIDENDS>                           6,252
<EARNINGS-AVAILABLE-FOR-COMM>                        24,780
<COMMON-STOCK-DIVIDENDS>                                  0
<TOTAL-INTEREST-ON-BONDS>                                 0
<CASH-FLOW-OPERATIONS>                               24,780
<EPS-BASIC>                                               0
<EPS-DILUTED>                                             0