<ARTICLE> UT <CIK> 0000092487 <NAME> SOUTHWESTERN ELECTRIC POWER COMPANY <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <BOOK-VALUE> PER-BOOK <TOTAL-NET-UTILITY-PLANT> 1,873,455 <OTHER-PROPERTY-AND-INVEST> 3,552 <TOTAL-CURRENT-ASSETS> 190,100 <TOTAL-DEFERRED-CHARGES> 30,424 <OTHER-ASSETS> 21,326 <TOTAL-ASSETS> 2,118,857 <COMMON> 135,660 <CAPITAL-SURPLUS-PAID-IN> 245,000 <RETAINED-EARNINGS> 306,322 <TOTAL-COMMON-STOCKHOLDERS-EQ> 686,982 <PREFERRED-MANDATORY> 33,628 <PREFERRED> 16,032 <LONG-TERM-DEBT-NET> 539,445 <SHORT-TERM-NOTES> 124,719 <LONG-TERM-NOTES-PAYABLE> 50,000 <COMMERCIAL-PAPER-OBLIGATIONS> 0 <LONG-TERM-DEBT-CURRENT-PORT> 145 <PREFERRED-STOCK-CURRENT> 1,200 <CAPITAL-LEASE-OBLIGATIONS> 9,252 <LEASES-CURRENT> 3,100 <OTHER-ITEMS-CAPITAL-AND-LIAB> 654,354 <TOT-CAPITALIZATION-AND-LIAB> 2,118,857 <GROSS-OPERATING-REVENUE> 200,881 <INCOME-TAX-EXPENSE> 4,734 <OTHER-OPERATING-EXPENSES> 169,798 <TOTAL-OPERATING-EXPENSES> 174,532 <OPERATING-INCOME-LOSS> 26,349 <OTHER-INCOME-NET> 1,086 <INCOME-BEFORE-INTEREST-EXPEN> 27,435 <TOTAL-INTEREST-EXPENSE> 12,668 <NET-INCOME> 14,767 <PREFERRED-STOCK-DIVIDENDS> 779 <EARNINGS-AVAILABLE-FOR-COMM> 13,988 <COMMON-STOCK-DIVIDENDS> 10,000 <TOTAL-INTEREST-ON-BONDS> 11,000 <CASH-FLOW-OPERATIONS> 5,842 <EPS-PRIMARY> 0.00 <EPS-DILUTED> 0.00