<ARTICLE> UT <CIK> 0000092487 <NAME> SOUTHWESTERN ELECTRIC POWER COMPANY <MULTIPLIER> 1,000 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> DEC-31-1996 <BOOK-VALUE> PER-BOOK <TOTAL-NET-UTILITY-PLANT> 1,851,958 <OTHER-PROPERTY-AND-INVEST> 2,881 <TOTAL-CURRENT-ASSETS> 177,678 <TOTAL-DEFERRED-CHARGES> 29,555 <OTHER-ASSETS> 37,084 <TOTAL-ASSETS> 2,099,156 <COMMON> 135,660 <CAPITAL-SURPLUS-PAID-IN> 245,000 <RETAINED-EARNINGS> 321,801 <TOTAL-COMMON-STOCKHOLDERS-EQ> 702,461 <PREFERRED-MANDATORY> 32,464 <PREFERRED> 16,032 <LONG-TERM-DEBT-NET> 539,324 <SHORT-TERM-NOTES> 57,495 <LONG-TERM-NOTES-PAYABLE> 50,000 <COMMERCIAL-PAPER-OBLIGATIONS> 0 <LONG-TERM-DEBT-CURRENT-PORT> 145 <PREFERRED-STOCK-CURRENT> 1,200 <CAPITAL-LEASE-OBLIGATIONS> 7,827 <LEASES-CURRENT> 2,415 <OTHER-ITEMS-CAPITAL-AND-LIAB> 689,793 <TOT-CAPITALIZATION-AND-LIAB> 2,099,156 <GROSS-OPERATING-REVENUE> 920,786 <INCOME-TAX-EXPENSE> 39,870 <OTHER-OPERATING-EXPENSES> 742,833 <TOTAL-OPERATING-EXPENSES> 782,703 <OPERATING-INCOME-LOSS> 138,083 <OTHER-INCOME-NET> (21,178) <INCOME-BEFORE-INTEREST-EXPEN> 116,905 <TOTAL-INTEREST-EXPENSE> 50,349 <NET-INCOME> 66,556 <PREFERRED-STOCK-DIVIDENDS> 3,053 <EARNINGS-AVAILABLE-FOR-COMM> 63,503 <COMMON-STOCK-DIVIDENDS> 44,000 <TOTAL-INTEREST-ON-BONDS> 31,274 <CASH-FLOW-OPERATIONS> 199,925 <EPS-PRIMARY> 0.31 <EPS-DILUTED> 0.31