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                                                                  EXHIBIT 23.2


                               ARTHUR ANDERSEN LLP




                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS


         As independent public accountants, we hereby consent to the
incorporation by reference in this Registration Statement of our reports dated
January 31, 1997 and January 26, 1996 included in CIPSCO Incorporated's Form
10-K for the years ended December 31, 1996 and 1995, respectively, and to all
references to our Firm included in this Registration Statement.



                                                     /s/ARTHUR ANDERSEN LLP
                                                  ------------------------------
                                                        ARTHUR ANDERSEN LLP

Chicago, Illinois
December 30, 1997