PacifiCorp, parent company of Utah Power, announced Wednesday that its second quarter 1998 earnings could fall 30 percent short of the 30 cents per share estimate of First Call securities analysts.

The company said the shortfall will result from losses in its Eastern U.S. energy trading operations and its unregulated energy development activities."Extreme price volatility" in Eastern power markets contributed to the problems, PacifiCorp said.

The company also announced that its earnings for the full year of 1998 probably will not meet analysts' expectations.

PacifiCorp will report its second-quarter earnings the week of July 20.