UNITED <UIL> PACT MAY LOWER NONCASH INCOME
United Illuminating Co said
that if the Department of Utility Controls approves an earnings
stipulation agreement submitted March 18, it will reduce
through accounting procedures its 1987 noncash earnings by 16
mln dlrs or 1.15 dlr per share.
    For the two month period ended February 28, 1987, it said
the amount of the reduction would amount to 19 cts per share.
Earlier, it reported net income for the two-month period of
23.1 mln dlrs of 1.51 dlr a share.
    United said the approval would lead it to an equity return
level comparable with the electric utility industry average.
 Reuter
