<ARTICLE> UT
<LEGEND> This schedule contains summary financial information extracted from 
the financial statements of NIPSCO Industries, Inc. for twelve months ended 
December 31, 1997, and is qualified in its entirety by reference to such
financial statements. 
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-31-1997
<BOOK-VALUE>                                  PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                    3,656,126
<OTHER-PROPERTY-AND-INVEST>                    235,153
<TOTAL-CURRENT-ASSETS>                         630,708
<TOTAL-DEFERRED-CHARGES>                       135,358
<OTHER-ASSETS>                                 279,688
<TOTAL-ASSETS>                               4,937,033
<COMMON>                                       506,987
<CAPITAL-SURPLUS-PAID-IN>                       91,581
<RETAINED-EARNINGS>                            666,220
<TOTAL-COMMON-STOCKHOLDERS-EQ>               1,264,788
<PREFERRED-MANDATORY>                           58,841
<PREFERRED>                                     85,620
<LONG-TERM-DEBT-NET>                           481,071
<SHORT-TERM-NOTES>                              87,709
<LONG-TERM-NOTES-PAYABLE>                    1,186,854
<COMMERCIAL-PAPER-OBLIGATIONS>                  88,500
<LONG-TERM-DEBT-CURRENT-PORT>                   54,621
<PREFERRED-STOCK-CURRENT>                        1,828     
<CAPITAL-LEASE-OBLIGATIONS>                          0
<LEASES-CURRENT>                                     0
<OTHER-ITEMS-CAPITAL-AND-LIAB>               1,627,201
<TOT-CAPITALIZATION-AND-LIAB>                4,937,033
<GROSS-OPERATING-REVENUE>                    2,586,541
<INCOME-TAX-EXPENSE>                           105,205
<OTHER-OPERATING-EXPENSES>                   2,175,988
<TOTAL-OPERATING-EXPENSES>                   2,175,988
<OPERATING-INCOME-LOSS>                        410,553
<OTHER-INCOME-NET>                              14,619     
<INCOME-BEFORE-INTEREST-EXPEN>                 425,172
<TOTAL-INTEREST-EXPENSE>                       129,298
<NET-INCOME>                                   190,849
<PREFERRED-STOCK-DIVIDENDS>                          0
<EARNINGS-AVAILABLE-FOR-COMM>                  190,849
<COMMON-STOCK-DIVIDENDS>                       114,303
<TOTAL-INTEREST-ON-BONDS>                       28,093      
<CASH-FLOW-OPERATIONS>                         428,457
<EPS-PRIMARY>                                     1.54<F1>  
<EPS-DILUTED>                                     1.53
<FN>  
<F1> Amount represents basic earnings per share. 
</FN>