<ARTICLE>                               UT
<LEGEND>
This  schedule  contains  summary  financial   information  extracted  from  the
Statement of Income, Balance Sheet and Statement of Cash Flows, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>

<MULTIPLIER>                            1,000

       
                                     
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                       DEC-31-1998
<PERIOD-END>                            DEC-31-1998
<BOOK-VALUE>                            PER-BOOK
<TOTAL-NET-UTILITY-PLANT>               3,778,265
<OTHER-PROPERTY-AND-INVEST>               341,346
<TOTAL-CURRENT-ASSETS>                  1,912,037
<TOTAL-DEFERRED-CHARGES>                  863,454
<OTHER-ASSETS>                                  0
<TOTAL-ASSETS>                          6,895,102
<COMMON>                                    1,588
<CAPITAL-SURPLUS-PAID-IN>               2,548,084
<RETAINED-EARNINGS>                       473,236
<TOTAL-COMMON-STOCKHOLDERS-EQ>          3,022,908
<PREFERRED-MANDATORY>                     363,000
<PREFERRED>                                85,000
<LONG-TERM-DEBT-NET>                    1,619,067
<SHORT-TERM-NOTES>                              0
<LONG-TERM-NOTES-PAYABLE>                       0
<COMMERCIAL-PAPER-OBLIGATIONS>                  0
<LONG-TERM-DEBT-CURRENT-PORT>             398,000
<PREFERRED-STOCK-CURRENT>                       0
<CAPITAL-LEASE-OBLIGATIONS>                     0
<LEASES-CURRENT>                                0
<OTHER-ITEMS-CAPITAL-AND-LIAB>          1,407,127
<TOT-CAPITALIZATION-AND-LIAB>           6,895,102
<GROSS-OPERATING-REVENUE>               1,721,852
<INCOME-TAX-EXPENSE>                      (62,506)
<OTHER-OPERATING-EXPENSES>              1,771,119
<TOTAL-OPERATING-EXPENSES>              1,708,613
<OPERATING-INCOME-LOSS>                    13,239
<OTHER-INCOME-NET>                        (41,457)
<INCOME-BEFORE-INTEREST-EXPEN>            (28,218)
<TOTAL-INTEREST-EXPENSE>                  138,715
<NET-INCOME>                             (166,933)
<PREFERRED-STOCK-DIVIDENDS>                28,604
<EARNINGS-AVAILABLE-FOR-COMM>            (195,537)
<COMMON-STOCK-DIVIDENDS>                  214,012
<TOTAL-INTEREST-ON-BONDS>                 129,681
<CASH-FLOW-OPERATIONS>                   (460,288)
<EPS-PRIMARY>                               (1.34)
<EPS-DILUTED>                               (1.34)