<ARTICLE> UT <LEGEND> This schedule contains summary financial information extracted from the September 30, 1998 Financial Statements included in IES Utilities Inc.'s Form 10-Q and is qualified in its entirety by reference to such Financial Statements. </LEGEND> <CIK> 0000052485 <NAME> IES UTILITIES INC. <MULTIPLIER> 1,000 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> SEP-30-1998 <BOOK-VALUE> PER-BOOK <TOTAL-NET-UTILITY-PLANT> 1,355,555 <OTHER-PROPERTY-AND-INVEST> 94,313 <TOTAL-CURRENT-ASSETS> 163,298 <TOTAL-DEFERRED-CHARGES> 13,754 <OTHER-ASSETS> 138,058 <TOTAL-ASSETS> 1,764,978 <COMMON> 33,427 <CAPITAL-SURPLUS-PAID-IN> 279,042 <RETAINED-EARNINGS> 258,947 <TOTAL-COMMON-STOCKHOLDERS-EQ> 571,416 <PREFERRED-MANDATORY> 0 <PREFERRED> 18,320 <LONG-TERM-DEBT-NET> 601,909 <SHORT-TERM-NOTES> 0 <LONG-TERM-NOTES-PAYABLE> 0 <COMMERCIAL-PAPER-OBLIGATIONS> 0 <LONG-TERM-DEBT-CURRENT-PORT> 50,140 <PREFERRED-STOCK-CURRENT> 0 <CAPITAL-LEASE-OBLIGATIONS> 15,668 <LEASES-CURRENT> 13,197 <OTHER-ITEMS-CAPITAL-AND-LIAB> 494,328 <TOT-CAPITALIZATION-AND-LIAB> 1,764,978 <GROSS-OPERATING-REVENUE> 605,201 <INCOME-TAX-EXPENSE> 38,861 <F1> <OTHER-OPERATING-EXPENSES> 479,216 <TOTAL-OPERATING-EXPENSES> 479,216 <F1> <OPERATING-INCOME-LOSS> 125,985 <OTHER-INCOME-NET> (2,713) <INCOME-BEFORE-INTEREST-EXPEN> 123,272 <TOTAL-INTEREST-EXPENSE> 39,154 <NET-INCOME> 45,257 <PREFERRED-STOCK-DIVIDENDS> 686 <EARNINGS-AVAILABLE-FOR-COMM> 44,571 <COMMON-STOCK-DIVIDENDS> 14,000 <TOTAL-INTEREST-ON-BONDS> 46,658 <CASH-FLOW-OPERATIONS> 168,875 <EPS-PRIMARY> 0 <F2> <EPS-DILUTED> 0 <F2> <FN> <F1> Income tax expense is not included in Operating Expense in the Statement of Income. <F2> Earnings per share of common stock is not reflected because all common shares are held by Interstate Energy Corporation. </FN>