<ARTICLE> UT <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM BGE'S CONSOLIDATED AUDITED FINANCIAL STATEMENTS AS OF AND FOR THE YEAR ENDED DECEMBER 31, 1998, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000,000 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> DEC-31-1998 <BOOK-VALUE> PER-BOOK <TOTAL-NET-UTILITY-PLANT> 5,657 <OTHER-PROPERTY-AND-INVEST> 1,741 <TOTAL-CURRENT-ASSETS> 1,176 <TOTAL-DEFERRED-CHARGES> 621 <OTHER-ASSETS> 0 <TOTAL-ASSETS> 9,195 <COMMON> 1,485 <CAPITAL-SURPLUS-PAID-IN> 0 <RETAINED-EARNINGS> 1,490 <TOTAL-COMMON-STOCKHOLDERS-EQ> 2,981 <PREFERRED-MANDATORY> 0 <PREFERRED> 190 <LONG-TERM-DEBT-NET> 3,128 <SHORT-TERM-NOTES> 0 <LONG-TERM-NOTES-PAYABLE> 0 <COMMERCIAL-PAPER-OBLIGATIONS> 0 <LONG-TERM-DEBT-CURRENT-PORT> 535 <PREFERRED-STOCK-CURRENT> 7 <CAPITAL-LEASE-OBLIGATIONS> 0 <LEASES-CURRENT> 0 <OTHER-ITEMS-CAPITAL-AND-LIAB> 2,354 <TOT-CAPITALIZATION-AND-LIAB> 9,195 <GROSS-OPERATING-REVENUE> 3,358 <INCOME-TAX-EXPENSE> 178 <OTHER-OPERATING-EXPENSES> 2,617 <TOTAL-OPERATING-EXPENSES> 2,795 <OPERATING-INCOME-LOSS> 563 <OTHER-INCOME-NET> 6 <INCOME-BEFORE-INTEREST-EXPEN> 569 <TOTAL-INTEREST-EXPENSE> 241 <NET-INCOME> 328 <PREFERRED-STOCK-DIVIDENDS> 22 <EARNINGS-AVAILABLE-FOR-COMM> 306 <COMMON-STOCK-DIVIDENDS> 246 <TOTAL-INTEREST-ON-BONDS> 248 <CASH-FLOW-OPERATIONS> 821 <EPS-PRIMARY> 2.06 <EPS-DILUTED> 2.06