<ARTICLE> UT
<LEGEND>
This schedule contains summary financial information extracted from AP&L's
financial statements for the year ended December 31, 1994 and is qualified in
its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000007323
<NAME> ARKANSAS POWER & LIGHT COMPANY
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-END>                               DEC-31-1994
<BOOK-VALUE>                                  PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                    2,870,345
<OTHER-PROPERTY-AND-INVEST>                    142,979
<TOTAL-CURRENT-ASSETS>                         518,445
<TOTAL-DEFERRED-CHARGES>                       760,446
<OTHER-ASSETS>                                       0
<TOTAL-ASSETS>                               4,292,215
<COMMON>                                           470
<CAPITAL-SURPLUS-PAID-IN>                      590,844 
<RETAINED-EARNINGS>                            491,799
<TOTAL-COMMON-STOCKHOLDERS-EQ>               1,083,113
<PREFERRED-MANDATORY>                           58,527
<PREFERRED>                                    176,350
<LONG-TERM-DEBT-NET>                         1,293,879
<SHORT-TERM-NOTES>                              34,667
<LONG-TERM-NOTES-PAYABLE>                            0
<COMMERCIAL-PAPER-OBLIGATIONS>                       0
<LONG-TERM-DEBT-CURRENT-PORT>                   28,175
<PREFERRED-STOCK-CURRENT>                            0
<CAPITAL-LEASE-OBLIGATIONS>                     94,534
<LEASES-CURRENT>                                56,154
<OTHER-ITEMS-CAPITAL-AND-LIAB>               1,466,816
<TOT-CAPITALIZATION-AND-LIAB>                4,292,215
<GROSS-OPERATING-REVENUE>                    1,590,742
<INCOME-TAX-EXPENSE>                             9,938
<OTHER-OPERATING-EXPENSES>                   1,364,171
<TOTAL-OPERATING-EXPENSES>                   1,374,109
<OPERATING-INCOME-LOSS>                        216,633
<OTHER-INCOME-NET>                              32,768
<INCOME-BEFORE-INTEREST-EXPEN>                 249,401
<TOTAL-INTEREST-EXPENSE>                       107,138
<NET-INCOME>                                   142,263
<PREFERRED-STOCK-DIVIDENDS>                     19,275
<EARNINGS-AVAILABLE-FOR-COMM>                  122,988
<COMMON-STOCK-DIVIDENDS>                        80,000
<TOTAL-INTEREST-ON-BONDS>                            0
<CASH-FLOW-OPERATIONS>                         355,577
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0