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LG&E ENERGY CORP. EARNINGS INCREASE 51 PERCENT IN FIRST QUARTER

 LOUISVILLE, Ky., April 26 /PRNewswire/ -- LG&E Energy Corp. (NYSE: LGE) posted a 51 percent increase in first quarter earnings, marking a return to more normal winter weather patterns and continued cost management programs in its utility business. The company's non-utility operations continued their trend of positive earnings contributions.
 First quarter earnings were $.62 per share of common stock, compared with $.41 for the same period in 1992. Revenues for the three months ended March 31, 1993, were $238 million, an increase of 16 percent over the same period in 1992.
 The company's utility, Louisville Gas and Electric Company (LG&E), contributed $.59 to consolidated earnings per share in the first quarter, compared with $.42 for the comparable period last year. Utility revenues for the first quarter were $210 million, compared with $184 million for the same period last year. Reflecting a return to more normal winter temperatures in LG&E's service territory, heating degree days increased 17 percent during the period, boosting electric and gas sales by 6 percent and 14 percent, respectively.
 LG&E Energy Corp.'s non-utility busi#-esses contributed $.07 to consolidated earnings per share for the first quarter. The non- utility businesses include its wholly-owned independent power producer, LG&E Power Systems, based in Irvine, California, and Natural Gas Clearinghouse, based in Houston, Texas, in which the company purchased an ownership interest in May of 1992.
 "This strong earnings performance comes on the heels of a record fourth quarter for the company," said Roger Hale, Chairman and Chief Executive Officer. "These earnings reflect the benefits of utility cost management programs, combined with the momentum we are building in our non-utility power production and natural gas marketing businesses."
 LG&E Energy Corp. and Subsidiaries
 Statements of Income
 (Thousands of $ Except Per Share Data)
 Three Months Ended Twelve Months Ended
 March 31, March 31,
 1993 1992 1993 1992
 REVENUES
 Electric $125,025 $117,430 $533,738 $544,693
 Gas 84,781 66,323 196,984 159,084
 Non-utility 28,590 21,107 137,553 21,107
 Total revenues 238,396 204,860 868,275 724,884
 EXPENSES
 Fuel and power
 purchased 37,873 33,937 151,615 144,752
 Gas supply 57,362 41,787 131,096 100,012
 Operation and
 maintenance 44,561 46,733 177,583 181,745
 Depreciation and
 amortization 20,106 19,723 80,069 76,761
 Other taxes 4,464 4,509 16,051 16,096
 Non-utility expenses 30,577 22,976 137,300 27,602
 Total expenses 194,943 169,665 693,714 546,968
 Equity in earnings of
 Partnership and Joint
 Ventures(A) 4,112 995 18,911 995
 Operating Income 47,565 36,190 193,472 178,911
 Other Income and
 (Deductions) (437) 137 (1,314) 3,158
 Interest Charges 12,625 12,387 51,404 51,740
 Income before
 Income Taxes 34,503 23,940 140,754 130,329
 Income Taxes 12,819 8,379 51,844 46,938
 Income before Preferred
 Dividends 21,684 15,561 88,910 83,391
 Preferred Dividends 1,587 2,405 6,355 9,502
 Net Income $20,097 $13,156 $82,555 $73,889
 Average common shares
 outstanding 32,443 32,287(B) 32,346 32,275(B)
 Earnings per share $0.62 $0.41 $2.55 $2.29
 (A)Includes pretax earnings contributions from Natural Gas Clearinghouse partnership and LG&E Power Systems' joint ventures.
 (B)Effective May 15, 1992, outstanding shares of common stock were split on a 3-for-2 basis. Average common shares outstanding and earnings per share amounts for the applicable periods, presented above, have been restated to reflect the stock split.
 -0- 4/26/93
 /CONTACT: Paul Heagen of LG&E, 502-627-2877 or (home) 502-228-9763/
 (LGE)


CO: LG&E Energy Corp. ST: Kentuck IN: UTI SU: ERN

CM -- CH008 -- 0664 04/26/93 12:12 EDT
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Date:Apr 26, 1993
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