<ARTICLE> UT
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF WPL HOLDINGS, INC. AS OF AND FOR THE THREE MONTHS
ENDED MARCH 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<CIK>     0000352541
<NAME>    WPL HOLDINGS, INC.
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<BOOK-VALUE>                                  PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                      1240957
<OTHER-PROPERTY-AND-INVEST>                     241098
<TOTAL-CURRENT-ASSETS>                          129826
<TOTAL-DEFERRED-CHARGES>                        245809
<OTHER-ASSETS>                                    6520
<TOTAL-ASSETS>                                 1864210
<COMMON>                                           308
<CAPITAL-SURPLUS-PAID-IN>                       303994
<RETAINED-EARNINGS>                             309632
<TOTAL-COMMON-STOCKHOLDERS-EQ>                  613934
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                      59963
<LONG-TERM-DEBT-NET>                            362836
<SHORT-TERM-NOTES>                               37122
<LONG-TERM-NOTES-PAYABLE>                        56975
<COMMERCIAL-PAPER-OBLIGATIONS>                   30388
<LONG-TERM-DEBT-CURRENT-PORT>                    56665
<PREFERRED-STOCK-CURRENT>                            0
<CAPITAL-LEASE-OBLIGATIONS>                          0
<LEASES-CURRENT>                                     0
<OTHER-ITEMS-CAPITAL-AND-LIAB>                  646327
<TOT-CAPITALIZATION-AND-LIAB>                  1864210
<GROSS-OPERATING-REVENUE>                       261688
<INCOME-TAX-EXPENSE>                             12047
<OTHER-OPERATING-EXPENSES>                       65337
<TOTAL-OPERATING-EXPENSES>                      221051
<OPERATING-INCOME-LOSS>                          40637
<OTHER-INCOME-NET>                                2903
<INCOME-BEFORE-INTEREST-EXPEN>                   31496
<TOTAL-INTEREST-EXPENSE>                          8838
<NET-INCOME>                                     22655
<PREFERRED-STOCK-DIVIDENDS>                        828
<EARNINGS-AVAILABLE-FOR-COMM>                    21827
<COMMON-STOCK-DIVIDENDS>                         15386
<TOTAL-INTEREST-ON-BONDS>                        11786
<CASH-FLOW-OPERATIONS>                           93273
<EPS-PRIMARY>                                     0.71
<EPS-DILUTED>                                        0<F1>
<FN>
<F1>Applicable accounting rules do not require WPL Holdings, Inc. to report
earnings per share on a fully diluted basis.
</FN>