<ARTICLE> UT
<CIK> 0000050217
<NAME> INDIANAPOLIS POWER & LIGHT COMPANY
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               SEP-30-1996
<BOOK-VALUE>                                  PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                    1,794,286
<OTHER-PROPERTY-AND-INVEST>                      4,436
<TOTAL-CURRENT-ASSETS>                         161,636
<TOTAL-DEFERRED-CHARGES>                       152,193
<OTHER-ASSETS>                                       0
<TOTAL-ASSETS>                               2,112,551
<COMMON>                                       324,537
<CAPITAL-SURPLUS-PAID-IN>                            0
<RETAINED-EARNINGS>                            458,151
<TOTAL-COMMON-STOCKHOLDERS-EQ>                 784,051
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     51,898
<LONG-TERM-DEBT-NET>                           657,780
<SHORT-TERM-NOTES>                              65,000
<LONG-TERM-NOTES-PAYABLE>                            0
<COMMERCIAL-PAPER-OBLIGATIONS>                       0
<LONG-TERM-DEBT-CURRENT-PORT>                   11,250
<PREFERRED-STOCK-CURRENT>                            0
<CAPITAL-LEASE-OBLIGATIONS>                          0
<LEASES-CURRENT>                                     0
<OTHER-ITEMS-CAPITAL-AND-LIAB>                 542,572
<TOT-CAPITALIZATION-AND-LIAB>                2,112,551
<GROSS-OPERATING-REVENUE>                      579,739
<INCOME-TAX-EXPENSE>                            57,786
<OTHER-OPERATING-EXPENSES>                     389,824
<TOTAL-OPERATING-EXPENSES>                     447,610
<OPERATING-INCOME-LOSS>                        132,129
<OTHER-INCOME-NET>                               3,408
<INCOME-BEFORE-INTEREST-EXPEN>                 135,537
<TOTAL-INTEREST-EXPENSE>                        33,045
<NET-INCOME>                                   102,492
<PREFERRED-STOCK-DIVIDENDS>                      2,386
<EARNINGS-AVAILABLE-FOR-COMM>                  100,106
<COMMON-STOCK-DIVIDENDS>                        62,559
<TOTAL-INTEREST-ON-BONDS>                            0
<CASH-FLOW-OPERATIONS>                         151,643
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0