<ARTICLE> UT
<CIK> 0000050217
<NAME> INDIANAPOLIS POWER & LIGHT COMPANY
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-START>                             JAN-01-1994
<PERIOD-END>                               DEC-31-1994
<BOOK-VALUE>                                  PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                    1,711,772
<OTHER-PROPERTY-AND-INVEST>                      2,898
<TOTAL-CURRENT-ASSETS>                         156,792
<TOTAL-DEFERRED-CHARGES>                       120,635
<OTHER-ASSETS>                                       0
<TOTAL-ASSETS>                               1,992,097
<COMMON>                                       324,537
<CAPITAL-SURPLUS-PAID-IN>                            0
<RETAINED-EARNINGS>                            399,862
<TOTAL-COMMON-STOCKHOLDERS-EQ>                 725,762
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     51,898
<LONG-TERM-DEBT-NET>                           654,121
<SHORT-TERM-NOTES>                              26,400
<LONG-TERM-NOTES-PAYABLE>                            0
<COMMERCIAL-PAPER-OBLIGATIONS>                       0
<LONG-TERM-DEBT-CURRENT-PORT>                      350
<PREFERRED-STOCK-CURRENT>                            0
<CAPITAL-LEASE-OBLIGATIONS>                          0
<LEASES-CURRENT>                                     0
<OTHER-ITEMS-CAPITAL-AND-LIAB>                 533,566
<TOT-CAPITALIZATION-AND-LIAB>                1,992,097
<GROSS-OPERATING-REVENUE>                      686,076
<INCOME-TAX-EXPENSE>                            55,543
<OTHER-OPERATING-EXPENSES>                     487,223
<TOTAL-OPERATING-EXPENSES>                     542,766
<OPERATING-INCOME-LOSS>                        143,310
<OTHER-INCOME-NET>                               3,968
<INCOME-BEFORE-INTEREST-EXPEN>                 147,278
<TOTAL-INTEREST-EXPENSE>                        43,455
<NET-INCOME>                                   103,823
<PREFERRED-STOCK-DIVIDENDS>                      3,182
<EARNINGS-AVAILABLE-FOR-COMM>                  100,641
<COMMON-STOCK-DIVIDENDS>                        79,239
<TOTAL-INTEREST-ON-BONDS>                       45,566
<CASH-FLOW-OPERATIONS>                         207,698
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0