<TABLE> <S> <C>

<ARTICLE> UT
<CIK> 0000728391
<NAME> IPALCO ENTERPRISES, INC.
<MULTIPLIER> 1,000

<S>                             <C>                     <C>                     <C>                     <C>
<C>
<PERIOD-TYPE>                   YEAR                   YEAR                   3-MOS                   6-MOS
9-MOS
<FISCAL-YEAR-END>                          DEC-31-1995             DEC-31-1996             DEC-31-1996             DEC-31-1996
             DEC-31-1996
<PERIOD-END>                               DEC-31-1995             DEC-31-1996             MAR-31-1996             JUN-30-1996
             SEP-30-1996
<BOOK-VALUE>                                  PER-BOOK                PER-BOOK                PER-BOOK                PER-BOOK
                PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                    1,792,007               1,787,969               1,796,304               1,800,577
               1,794,286
<OTHER-PROPERTY-AND-INVEST>                    114,587                 113,661                 114,397                 114,243
                 112,791
<TOTAL-CURRENT-ASSETS>                         162,894                 123,699                 177,192                 168,270
                 173,263
<TOTAL-DEFERRED-CHARGES>                       161,709                 157,740                 162,744                 162,809
                 159,377
<OTHER-ASSETS>                                       0                       0                       0                       0
                       0
<TOTAL-ASSETS>                               2,231,197               2,183,069               2,250,637               2,245,899
               2,239,717
<COMMON>                                       385,032                 389,966                 387,288                 387,206
                 388,047
<CAPITAL-SURPLUS-PAID-IN>                            0                       0                       0                       0
                       0
<RETAINED-EARNINGS>                            436,408                 466,397                 450,900                 454,301
                 470,398
<TOTAL-COMMON-STOCKHOLDERS-EQ>                 822,803                 857,726                 839,551                 842,870
                 859,808
<PREFERRED-MANDATORY>                                0                       0                       0                       0
                       0
<PREFERRED>                                     51,898                  51,898                  51,898                  51,898
                  51,898
<LONG-TERM-DEBT-NET>                           698,600                 662,591                 702,559                 688,569
                 687,780
<SHORT-TERM-NOTES>                              69,122                  46,000                  56,500                  78,400
                  77,733
<LONG-TERM-NOTES-PAYABLE>                            0                       0                       0                       0
                       0
<COMMERCIAL-PAPER-OBLIGATIONS>                       0                       0                       0                       0
                       0
<LONG-TERM-DEBT-CURRENT-PORT>                   17,500                  11,250                  15,150                  11,250
                  11,250
<PREFERRED-STOCK-CURRENT>                            0                       0                       0                       0
                       0
<CAPITAL-LEASE-OBLIGATIONS>                          0                       0                       0                       0
                       0
<LEASES-CURRENT>                                     0                       0                       0                       0
                       0
<OTHER-ITEMS-CAPITAL-AND-LIAB>                 571,274                 553,604                 584,979                 572,912
                 551,248
<TOT-CAPITALIZATION-AND-LIAB>                2,231,197               2,183,069               2,250,637               2,245,899
               2,239,717
<GROSS-OPERATING-REVENUE>                      709,206                 762,503                 196,446                 374,067
                 579,739
<INCOME-TAX-EXPENSE>                            53,975                  68,248                  20,859                  34,402
                  57,786
<OTHER-OPERATING-EXPENSES>                     507,119                 531,036                 130,743                 258,699
                 389,824
<TOTAL-OPERATING-EXPENSES>                     561,094                 599,284                 151,602                 293,101
                 447,610
<OPERATING-INCOME-LOSS>                        148,112                 163,219                  44,844                  80,966
                 132,129
<OTHER-INCOME-NET>                               1,169                   1,556                   2,422                   2,633
                   2,103
<INCOME-BEFORE-INTEREST-EXPEN>                 149,281                 164,775                  47,266                  83,599
                 134,232
<TOTAL-INTEREST-EXPENSE>                        50,503                  50,500                  11,718                  23,592
                  37,057
<NET-INCOME>                                    98,778                 114,275                  35,548                  60,007
                  97,175
<PREFERRED-STOCK-DIVIDENDS>                      3,182                   3,182                     795                   1,591
                   2,386
<EARNINGS-AVAILABLE-FOR-COMM>                   98,778                 114,275                  35,548                  60,007
                  97,175
<COMMON-STOCK-DIVIDENDS>                        81,289                  83,630                  20,449                  41,504
                  62,559
<TOTAL-INTEREST-ON-BONDS>                       46,170                  45,110                       0                       0
                       0
<CASH-FLOW-OPERATIONS>                         208,874                 251,124                  71,427                 107,219
                 148,832
<EPS-PRIMARY>                                     1.74                    2.01                     .63                    1.05
                    1.70
<EPS-DILUTED>                                     1.74                    2.00                     .62                    1.05
                    1.70


</TABLE>