<ARTICLE> OPUR1 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> DEC-31-1998 <BOOK-VALUE> PER-BOOK <TOTAL-NET-UTILITY-PLANT> 4,764 <OTHER-PROPERTY-AND-INVEST> 551 <TOTAL-CURRENT-ASSETS> 569 <TOTAL-DEFERRED-CHARGES> 5,980 <OTHER-ASSETS> 184 <TOTAL-ASSETS> 12,048 <COMMON> 3,589 <CAPITAL-SURPLUS-PAID-IN> 1 <RETAINED-EARNINGS> (533) <TOTAL-COMMON-STOCKHOLDERS-EQ> 3,057 <PREFERRED-MANDATORY> 93 <PREFERRED> 138 <LONG-TERM-DEBT-NET> 2,920 <SHORT-TERM-NOTES> 525 <LONG-TERM-NOTES-PAYABLE> 0 <COMMERCIAL-PAPER-OBLIGATIONS> 125 <LONG-TERM-DEBT-CURRENT-PORT> 362 <PREFERRED-STOCK-CURRENT> 0 <CAPITAL-LEASE-OBLIGATIONS> 85 <LEASES-CURRENT> 69 <OTHER-ITEMS-CAPITAL-AND-LIAB> 4,799 <TOT-CAPITALIZATION-AND-LIAB> 12,048 <GROSS-OPERATING-REVENUE> 5,211 <INCOME-TAX-EXPENSE> 320 <OTHER-OPERATING-EXPENSES> 3,927 <TOTAL-OPERATING-EXPENSES> 4,247 <OPERATING-INCOME-LOSS> 964 <OTHER-INCOME-NET> (70) <INCOME-BEFORE-INTEREST-EXPEN> 894 <TOTAL-INTEREST-EXPENSE> 362 <NET-INCOME> 513 <PREFERRED-STOCK-DIVIDENDS> 13 <EARNINGS-AVAILABLE-FOR-COMM> 500 <COMMON-STOCK-DIVIDENDS> 223 <TOTAL-INTEREST-ON-BONDS> 331 <CASH-FLOW-OPERATIONS> 1,433 <EPS-PRIMARY> 2.24 <EPS-DILUTED> 2.23 <FN> (1) Net Income includes an extraordinary item of $20 million (net of income taxes) reflecting the write-off of premium and deferred charges related to the redemption of First Mortgage Bonds. </FN>