Exhibit 23.03

                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

As independent public accountants, we hereby consent to the inclusion of our 
report dated January 27, 1999 (except with respect to the matters discussed 
in the fifth paragraph of Note 3, as to which the date is February 12, 1999, 
and Note 13, as to which the date is March 8, 1999) on the financial 
statements of Kentucky Utilities Company in this Form 10-K.

                                          /S/ ARTHUR ANDERSEN LLP
                                          -----------------------
                                          Arthur Andersen LLP

Louisville, Kentucky
March 26, 1999