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ROCHESTER GAS AND ELECTRIC CORP. REPORTS RESULTS

 ROCHESTER GAS AND ELECTRIC CORP. REPORTS RESULTS
 ROCHESTER, N.Y., Jan. 24 /PRNewswire/ -- Rochester Gas and Electric


Corporation (NYSE: RGS) (RG&E) today reported revenues and earnings for the 1991 fourth quarter and year ended Dec. 31, 1991. For the 1991 fourth quarter, total operating revenues, including electric sales to other utilities, were $229,331,000, up $8,971,000 from 1990 fourth quarter revenues of $220,360,000.
 Earnings applicable to common stock for the quarter were off $4,163,000 going from $16,630,000 in 1990 to $12,467,000 in 1991. Earnings per common share were down 15 cents from the 1990 fourth quarter, or 38 cents compared with the 53 cents earned per share a year earlier.
 For the 12 month period ended Dec. 31, 1991, total operating revenues were $853,270,000 compared with 1990 revenues of $830,891,000, an increase of $22,379,000. Earnings applicable to common stock for the year declined $2,822,000, going from $53,856,000 in 1990 to $51,034,000 in 1991. Per-share earnings on common stock were off 12 cents, or $1.60 compared with $1.72 a year earlier.
 The decline in 1991 fourth quarter earnings per share is attributed to an agreement the company made with the New York Public Service Commission concerning a fuel procurement audit. In the agreement, RG&E agreed to refund $10 million to electric customers over the 1992 calendar year. The net-of-tax effect of recording this agreement reduced fourth quarter earnings by 21 cents per share.
 Earnings for the year 1991 were further affected by revenue losses sustained in the disastrous ice storm that struck the area on March 3 and 4. The lost revenues had the effect of reducing earnings per share by 11 cents.
 Kilowatt-hour sales of electricity to customers in the 1991 fourth quarter were about level with 1990 sales for the comparable period showing an increase of half of a percent. Kilowatt-hour sales to customers for the year were up 1.2 percent over 1990. Therm sales of natural gas, including gas transported for customers, rose 7.0 percent for the 1991 quarter and 2.2 percent for the year.
 Weather was again the major factor affecting lower-than-forecast unit sales. The warmer-than-normal summer of 1991 boosted electric kilowatt-hour sales through air conditioning load. However, the warmer-than-normal winter had the opposite effect and depressed natural gas sales for heating. Abnormal weather has been adversely affecting electric and gas unit sales since 1990.
 ROCHESTER GAS AND ELECTRIC CORPORATION
 EARNINGS REPORT
 FOR THE PERIODS ENDED December 31, 1991
 3 MONTHS 1991 1990
 OPERATING REVENUES $229,331,000 $220,360,000
 NET INCOME $ 14,911,000 $ 18,136,000
 EARNINGS APPLICABLE TO COMMON STOCK $ 12,467,000 $ 16,630,000
 AVERAGE SHARES OUTSTANDING 32,044,431 31,370,235
 EARNINGS PER SHARE $ .38 $ .53
 12 MONTHS 1991 1990
 OPERATING REVENUES $853,270,000 $830,891,000
 NET INCOME $ 57,997,000 $ 59,881,000
 EARNINGS APPLICABLE TO COMMON STOCK $ 51,034,000 $ 53,856,000
 AVERAGE SHARES OUTSTANDING 31,794,163 31,292,512
 EARNINGS PER SHARE $ 1.60 $ 1.72
 -0- 1/24/92
 /CONTACT: George Lappan of Rochester Gas & Electric, 716-724-8812/
 (RGS) CO: Rochester Gas & Electric Corporation ST: New York IN: UTI SU: ERN


KK -- CL005 -- 3235 01/24/92 11:14 EST
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Date:Jan 24, 1992
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