<ARTICLE>  UT
<SUBSIDIARY>
<NUMBER> 005
<NAME>  SOUTHWESTERN ELECTRIC POWER COMPANY
<MULTIPLIER> 1,000
       
                                         
<PERIOD-TYPE>                               3-MOS
<FISCAL-YEAR-END>                                      DEC-31-1998
<PERIOD-END>                                           MAR-31-1998
<BOOK-VALUE>                                              PER-BOOK
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<PREFERRED>                                                  4,707
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<SHORT-TERM-NOTES>                                          25,667
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<OTHER-INCOME-NET>                                           1,232
<INCOME-BEFORE-INTEREST-EXPEN>                              30,365
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<NET-INCOME>                                                16,931
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<EPS-PRIMARY>                                                 0.00
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