<ARTICLE> UT
<CIK> 0000050217
<NAME> INDIANAPOLIS POWER & LIGHT COMPANY
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1997
<BOOK-VALUE>                                  PER-BOOK
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<OTHER-ASSETS>                                       0
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<COMMON>                                       324,537
<CAPITAL-SURPLUS-PAID-IN>                            0
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<PREFERRED-MANDATORY>                                0
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<SHORT-TERM-NOTES>                                   0
<LONG-TERM-NOTES-PAYABLE>                            0
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<TOT-CAPITALIZATION-AND-LIAB>                2,044,429
<GROSS-OPERATING-REVENUE>                      200,286
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<TOTAL-OPERATING-EXPENSES>                     152,693
<OPERATING-INCOME-LOSS>                         47,593
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<NET-INCOME>                                    37,826
<PREFERRED-STOCK-DIVIDENDS>                        795
<EARNINGS-AVAILABLE-FOR-COMM>                   37,031
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<TOTAL-INTEREST-ON-BONDS>                            0
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<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0