WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

  

<ARTICLE> UT
<LEGEND>
This schedule contains summary financial information extracted from
AP&L's financial statements for the quarter ended September 30, 1995
and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<SUBSIDIARY>
   <NUMBER> 001
   <NAME> ARKANSAS POWER & LIGHT COMPANY
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-END>                               SEP-30-1995
<BOOK-VALUE>                                  PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                    2,864,608
<OTHER-PROPERTY-AND-INVEST>                    176,534
<TOTAL-CURRENT-ASSETS>                         640,292
<TOTAL-DEFERRED-CHARGES>                       628,165
<OTHER-ASSETS>                                       0
<TOTAL-ASSETS>                               4,309,599
<COMMON>                                           470
<CAPITAL-SURPLUS-PAID-IN>                      590,844
<RETAINED-EARNINGS>                            528,450
<TOTAL-COMMON-STOCKHOLDERS-EQ>               1,119,764
<PREFERRED-MANDATORY>                           51,527
<PREFERRED>                                    176,350
<LONG-TERM-DEBT-NET>                         1,281,030
<SHORT-TERM-NOTES>                                 667
<LONG-TERM-NOTES-PAYABLE>                            0
<COMMERCIAL-PAPER-OBLIGATIONS>                       0
<LONG-TERM-DEBT-CURRENT-PORT>                   27,425
<PREFERRED-STOCK-CURRENT>                            0
<CAPITAL-LEASE-OBLIGATIONS>                    102,937
<LEASES-CURRENT>                                56,971
<OTHER-ITEMS-CAPITAL-AND-LIAB>               1,492,928
<TOT-CAPITALIZATION-AND-LIAB>                4,309,599
<GROSS-OPERATING-REVENUE>                    1,282,208
<INCOME-TAX-EXPENSE>                            59,532
<OTHER-OPERATING-EXPENSES>                   1,030,203
<TOTAL-OPERATING-EXPENSES>                   1,089,735
<OPERATING-INCOME-LOSS>                        192,473
<OTHER-INCOME-NET>                              24,485
<INCOME-BEFORE-INTEREST-EXPEN>                 216,958
<TOTAL-INTEREST-EXPENSE>                        83,089
<NET-INCOME>                                   133,869
<PREFERRED-STOCK-DIVIDENDS>                     13,617
<EARNINGS-AVAILABLE-FOR-COMM>                  120,252
<COMMON-STOCK-DIVIDENDS>                        83,600
<TOTAL-INTEREST-ON-BONDS>                            0
<CASH-FLOW-OPERATIONS>                         282,108
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0