<ARTICLE> UT
<CIK> 0000050217
<NAME> INDIANAPOLIS POWER & LIGHT COMPANY
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<BOOK-VALUE>                                  PER-BOOK
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<OTHER-PROPERTY-AND-INVEST>                      4,447
<TOTAL-CURRENT-ASSETS>                         154,918
<TOTAL-DEFERRED-CHARGES>                       154,940
<OTHER-ASSETS>                                       0
<TOTAL-ASSETS>                               2,114,882
<COMMON>                                       324,537
<CAPITAL-SURPLUS-PAID-IN>                            0
<RETAINED-EARNINGS>                            440,384
<TOTAL-COMMON-STOCKHOLDERS-EQ>                 766,284
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     51,898
<LONG-TERM-DEBT-NET>                           657,769
<SHORT-TERM-NOTES>                              65,000
<LONG-TERM-NOTES-PAYABLE>                            0
<COMMERCIAL-PAPER-OBLIGATIONS>                       0
<LONG-TERM-DEBT-CURRENT-PORT>                   11,250
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<CAPITAL-LEASE-OBLIGATIONS>                          0
<LEASES-CURRENT>                                     0
<OTHER-ITEMS-CAPITAL-AND-LIAB>                 562,681
<TOT-CAPITALIZATION-AND-LIAB>                2,114,882
<GROSS-OPERATING-REVENUE>                      374,067
<INCOME-TAX-EXPENSE>                            34,402
<OTHER-OPERATING-EXPENSES>                     258,699
<TOTAL-OPERATING-EXPENSES>                     293,101
<OPERATING-INCOME-LOSS>                         80,966
<OTHER-INCOME-NET>                               2,884
<INCOME-BEFORE-INTEREST-EXPEN>                  83,850
<TOTAL-INTEREST-EXPENSE>                        20,990
<NET-INCOME>                                    62,860
<PREFERRED-STOCK-DIVIDENDS>                      1,591
<EARNINGS-AVAILABLE-FOR-COMM>                   61,269
<COMMON-STOCK-DIVIDENDS>                        41,504
<TOTAL-INTEREST-ON-BONDS>                            0
<CASH-FLOW-OPERATIONS>                         108,183
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0