<ARTICLE> UT <CIK>0000060549 <NAME>LOUISVILLE GAS AND ELECTRIC COMPANY <MULTIPLIER> 1,000 <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> 1,752,016 <OTHER-PROPERTY-AND-INVEST> 1,154 <TOTAL-CURRENT-ASSETS> 285,027 <TOTAL-DEFERRED-CHARGES> 66,440 <OTHER-ASSETS> 0 <TOTAL-ASSETS> 2,104,637 <COMMON> 424,334<F1> <CAPITAL-SURPLUS-PAID-IN> 50<F2> <RETAINED-EARNINGS> 247,462 <TOTAL-COMMON-STOCKHOLDERS-EQ> 671,846 <PREFERRED-MANDATORY> 0 <PREFERRED> 95,328 <LONG-TERM-DEBT-NET> 626,800 <SHORT-TERM-NOTES> 0 <LONG-TERM-NOTES-PAYABLE> 0 <COMMERCIAL-PAPER-OBLIGATIONS> 0 <LONG-TERM-DEBT-CURRENT-PORT> 0 <PREFERRED-STOCK-CURRENT> 0 <CAPITAL-LEASE-OBLIGATIONS> 0 <LEASES-CURRENT> 0 <OTHER-ITEMS-CAPITAL-AND-LIAB> 710,663 <TOT-CAPITALIZATION-AND-LIAB> 2,104,637 <GROSS-OPERATING-REVENUE> 850,056 <INCOME-TAX-EXPENSE> 56,307 <OTHER-OPERATING-EXPENSES> 658,226 <TOTAL-OPERATING-EXPENSES> 714,533 <OPERATING-INCOME-LOSS> 135,523 <OTHER-INCOME-NET> (21,081)<F3> <INCOME-BEFORE-INTEREST-EXPEN> 114,442 <TOTAL-INTEREST-EXPENSE> 36,322 <NET-INCOME> 78,120 <PREFERRED-STOCK-DIVIDENDS> 4,568 <EARNINGS-AVAILABLE-FOR-COMM> 73,552 <COMMON-STOCK-DIVIDENDS> 85,000 <TOTAL-INTEREST-ON-BONDS> 34,267 <CASH-FLOW-OPERATIONS> 225,711 <EPS-PRIMARY> 0 <EPS-DILUTED> 0 <FN> <F1>Includes common stock expense of $836. <F2>Represents unrealized gain/loss on marketable securities, net of taxes. <F3>Includes $32,072 Merger costs to achieve. </FN>