<ARTICLE> UT
<CIK> 0000050217
<NAME> INDIANAPOLIS POWER & LIGHT COMPANY
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               MAR-31-1995
<BOOK-VALUE>                                  PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                    1,737,528
<OTHER-PROPERTY-AND-INVEST>                      4,123
<TOTAL-CURRENT-ASSETS>                         150,214
<TOTAL-DEFERRED-CHARGES>                       129,946
<OTHER-ASSETS>                                       0
<TOTAL-ASSETS>                               2,021,811
<COMMON>                                       324,537
<CAPITAL-SURPLUS-PAID-IN>                            0
<RETAINED-EARNINGS>                            406,260
<TOTAL-COMMON-STOCKHOLDERS-EQ>                 732,160
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     51,898
<LONG-TERM-DEBT-NET>                           654,128
<SHORT-TERM-NOTES>                              30,701
<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>                 552,574
<TOT-CAPITALIZATION-AND-LIAB>                2,021,811
<GROSS-OPERATING-REVENUE>                      175,518
<INCOME-TAX-EXPENSE>                            15,588
<OTHER-OPERATING-EXPENSES>                     121,652
<TOTAL-OPERATING-EXPENSES>                     137,240
<OPERATING-INCOME-LOSS>                         38,278
<OTHER-INCOME-NET>                                 857
<INCOME-BEFORE-INTEREST-EXPEN>                  39,135
<TOTAL-INTEREST-EXPENSE>                        11,523
<NET-INCOME>                                    27,612
<PREFERRED-STOCK-DIVIDENDS>                        795
<EARNINGS-AVAILABLE-FOR-COMM>                   26,817
<COMMON-STOCK-DIVIDENDS>                        20,420
<TOTAL-INTEREST-ON-BONDS>                            0
<CASH-FLOW-OPERATIONS>                          70,486
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0