<ARTICLE> UT
<CIK> 0000050217
<NAME> INDIANAPOLIS POWER & LIGHT COMPANY
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               SEP-30-1995
<BOOK-VALUE>                                  PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                    1,781,992
<OTHER-PROPERTY-AND-INVEST>                      4,003
<TOTAL-CURRENT-ASSETS>                         157,203
<TOTAL-DEFERRED-CHARGES>                       149,404
<OTHER-ASSETS>                                       0
<TOTAL-ASSETS>                               2,092,602
<COMMON>                                       324,537
<CAPITAL-SURPLUS-PAID-IN>                            0
<RETAINED-EARNINGS>                            424,519
<TOTAL-COMMON-STOCKHOLDERS-EQ>                 750,419
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     51,898
<LONG-TERM-DEBT-NET>                           638,992
<SHORT-TERM-NOTES>                              79,000
<LONG-TERM-NOTES-PAYABLE>                            0
<COMMERCIAL-PAPER-OBLIGATIONS>                       0
<LONG-TERM-DEBT-CURRENT-PORT>                   15,150
<PREFERRED-STOCK-CURRENT>                            0
<CAPITAL-LEASE-OBLIGATIONS>                          0
<LEASES-CURRENT>                                     0
<OTHER-ITEMS-CAPITAL-AND-LIAB>                 557,143
<TOT-CAPITALIZATION-AND-LIAB>                2,092,602
<GROSS-OPERATING-REVENUE>                      535,043
<INCOME-TAX-EXPENSE>                            49,302
<OTHER-OPERATING-EXPENSES>                     366,159
<TOTAL-OPERATING-EXPENSES>                     415,461
<OPERATING-INCOME-LOSS>                        119,582
<OTHER-INCOME-NET>                               2,812
<INCOME-BEFORE-INTEREST-EXPEN>                 122,394
<TOTAL-INTEREST-EXPENSE>                        34,073
<NET-INCOME>                                    88,321
<PREFERRED-STOCK-DIVIDENDS>                      2,386
<EARNINGS-AVAILABLE-FOR-COMM>                   85,935
<COMMON-STOCK-DIVIDENDS>                        60,853
<TOTAL-INTEREST-ON-BONDS>                            0
<CASH-FLOW-OPERATIONS>                         148,444
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0