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PUGET POWER REPORTS 1991 FINANCIAL RESULTS

 PUGET POWER REPORTS 1991 FINANCIAL RESULTS
 BELLEVUE, Wash, Feb. 11 /PRNewswire/ -- Puget Sound Power & Light


Co. (NYSE: PSD) today reported increased operating revenues and earnings for 1991 compared with the previous year.
 The company reported 1991 earnings of $2.21 per share, compared to $2.16 per share in 1990. Increased 1991 operating revenues of $956.8 million, compared with 1990 operating revenues of $935.3 million, were due to higher sales of electricity to commercial and industrial customers, steady increases in the number of residential customers served by Puget Power, rate relief granted late in the year, and colder than normal temperatures during the first half of 1991.
 In 1991, the company added 22,000 new customers, and it expects to grow at an average annual rate of 20,000 new customers for the remainder of the decade. The company reported net income of $132.8 million and income for common stock of $122.7 million in 1991, compared with $132.3 million and $119.9 million respectively, in 1990.
 Fourth-quarter operating revenues for 1991 were $254.9 million, a decrease of $12.5 million from the same period in 1990. The decrease was due to warmer winter temperatures, compared to extremely cold temperatures a year earlier. Earnings for the fourth quarter of 49 cents per share were down from the 61 cents per share reported a year ago.
 A summary of financial results follows:
 PUGET SOUND POWER & LIGHT CO.
 (In thousands, except share data)
 Three Months Ended Dec. 31: 1991 1990
 Operating revenues $254,913 $267,411
 Net income $ 29,597 $ 36,803
 Income for common stock $ 27,259 $ 33,690
 Earnings per share $ 0.49 $ 0.61
 Average common shares outstanding 55,561,647 55,561,647
 Twelve Months Ended Dec. 31: 1991 1990
 Operating revenues $956,769 $935,273
 Net income $132,777 $132,343
 Income for common stock $122,738 $119,948
 Earnings per share $ 2.21 $ 2.16
 Average common shares outstanding 55,561,647 55,561,647
 -0- 2/11/92
 /CONTACT: U. Earl Dunn, 206-462-3808, or William Seil, 206-462-3206, both of Puget Sound Power & Light/
 (PSD) CO: Puget Sound Power & Light Co. ST: Washington IN: UTI SU: ERN


LM-SC -- SE012 -- 9023 02/11/92 19:04 EST
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Date:Feb 11, 1992
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