<ARTICLE> UT
<SUBSIDIARY>
   <NUMBER> 005
   <NAME> SOUTHWESTERN ELECTRIC POWER COMPANY
<MULTIPLIER> 1,000
       
                                                          
<PERIOD-TYPE>              YEAR                YEAR                 YEAR
<FISCAL-YEAR-END>                 DEC-31-1994         DEC-31-1993          DEC-31-1992
<PERIOD-END>                      DEC-31-1994         DEC-31-1993          DEC-31-1992
<BOOK-VALUE>                         PER-BOOK            PER-BOOK             PER-BOOK
<TOTAL-NET-UTILITY-PLANT>           1,856,558           1,788,130                    0
<OTHER-PROPERTY-AND-INVEST>             3,452               2,915                    0
<TOTAL-CURRENT-ASSETS>                165,113             124,668                    0
<TOTAL-DEFERRED-CHARGES>               33,219              46,933                    0
<OTHER-ASSETS>                         20,865               5,639                    0
<TOTAL-ASSETS>                      2,079,207           1,968,285                    0
<COMMON>                              135,660             135,660                    0
<CAPITAL-SURPLUS-PAID-IN>             245,000             245,000                    0
<RETAINED-EARNINGS>                   297,462             265,071                    0
<TOTAL-COMMON-STOCKHOLDERS-EQ>        678,122             645,731                    0
<PREFERRED-MANDATORY>                  34,828              36,028                    0
<PREFERRED>                            16,032              16,032                    0
<LONG-TERM-DEBT-NET>                  531,836             534,613                    0
<SHORT-TERM-NOTES>                          0                   0                    0
<LONG-TERM-NOTES-PAYABLE>              50,000              50,000                    0
<COMMERCIAL-PAPER-OBLIGATIONS>              0                   0                    0
<LONG-TERM-DEBT-CURRENT-PORT>             145                 645                    0
<PREFERRED-STOCK-CURRENT>               1,200               1,200                    0
<CAPITAL-LEASE-OBLIGATIONS>            13,997              17,452                    0
<LEASES-CURRENT>                        3,925               3,183                    0
<OTHER-ITEMS-CAPITAL-AND-LIAB>        749,122             663,401                    0
<TOT-CAPITALIZATION-AND-LIAB>       2,079,207           1,968,285                    0
<GROSS-OPERATING-REVENUE>             825,296             837,192              778,303
<INCOME-TAX-EXPENSE>                   42,303              29,561               34,563
<OTHER-OPERATING-EXPENSES>            637,071             689,574              598,013
<TOTAL-OPERATING-EXPENSES>            679,374             719,135              632,576
<OPERATING-INCOME-LOSS>               145,922             118,057              145,727
<OTHER-INCOME-NET>                      8,235               8,623                  669
<INCOME-BEFORE-INTEREST-EXPEN>        154,157             126,680              146,396
<TOTAL-INTEREST-EXPENSE>               48,445              44,804               51,513
<NET-INCOME>                          105,712              81,876               94,883
<PREFERRED-STOCK-DIVIDENDS>             3,361               3,362                3,445
<EARNINGS-AVAILABLE-FOR-COMM>         102,351              78,514               91,438
<COMMON-STOCK-DIVIDENDS>               70,000              80,000               90,000
<TOTAL-INTEREST-ON-BONDS>              43,395              40,958               47,490
<CASH-FLOW-OPERATIONS>                178,121             232,098              168,853
<EPS-PRIMARY>                             .54                 .42                  .49
<EPS-DILUTED>                             .54                 .42                  .49