SECURITIES AND EXCHANGE COMMISSION
                               
                    Washington, D.C. 20549



                           FORM 8-K



                        CURRENT REPORT



              Pursuant to Section 13 or 15(d) of
              The Securities Exchange Act of 1934



 Date of Report (Date of earliest event reported):  April 27, 1995




                      IES UTILITIES INC.
    (Exact name of registrant as specified in its charter)





     Iowa                              0-4117-1             42-0331370
(State or other jurisdiction         (Commission         (I.R.S. Employer
 of incorporation)                    File No.)           Identification No.)



    IES Tower, Cedar Rapids, Iowa                               52401
(Address of principal executive offices)                     (Zip Code)



Registrant's  telephone number, including area code:  319-398-4411


Item 5.  Other Events.

      The  Iowa  Utilities Board (Board) held a public  agenda
meeting  on  April  25, 1995, to discuss  the  issues  in  the
Company's  pending electric pricing case.  The  Company  is  a
wholly-owned   utility  subsidiary  of  IES  Industries   Inc.
(Industries).   Based on the Company's interpretation  of  the
Board's  discussion, the Board will require annual  reductions
in  electric  revenues of $15 million to $20  million.   As  a
result  of  the  Board's meeting, the Company has  recorded  a
pretax reserve for refunds of approximately $8 million  as  of
March 31, 1995.

       Reference  is  made  to  Note  3(a)  of  the  Notes  to
Consolidated Financial Statements included in the registrant's
Form 10-K for the year 1994.

      The  Press Release announcing Industries' first  quarter
earnings  is  attached  hereto and incorporated  by  reference
herein.


Item 7.  Financial Statements, Pro Forma Financial Information
         and Exhibits.

(c)  Exhibits

     99  IES Industries Inc. Press Release dated April 27, 1995.



                          SIGNATURES
                               
                               

      Pursuant to the requirements of the Securities  Exchange
Act of 1934, the registrant has duly caused this report to  be
signed  on  its  behalf  by  the  undersigned  thereunto  duly
authorized.





                                       IES UTILITIES INC.
                                          (Registrant)




                       By /s/         Blake O. Fisher, Jr.
                                          (Signature)
                                      Blake O. Fisher, Jr.
                               President, Chief Operating Officer
                                   & Chief Financial Officer



Date  April 27, 1995
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 2729}]
{"company-data": {"conformed-name": "IES UTILITIES INC", "cik": "0000052485", "assigned-sic": "4931", "irs-number": "420331370", "state-of-incorporation": "IA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-04117", "film-number": "95531920"}, "business-address": {"street1": "200 FIRST STREET SE", "city": "CEDAR RAPIDS", "state": "IA", "zip": "52401", "phone": "3193984411"}, "former-company": [{"former-conformed-name": "IOWA ELECTRIC LIGHT & POWER CO", "date-changed": "19920703"}, {"former-conformed-name": "IOWA RAILWAY & LIGHT CORP", "date-changed": "19670629"}]}
SECURITIES AND EXCHANGE COMMISSION
                               
                    Washington, D.C. 20549

                           FORM 8-K

                        CURRENT REPORT

              Pursuant to Section 13 or 15(d) of
              The Securities Exchange Act of 1934

 Date of Report (Date of earliest event reported):  April 27, 1995

                      IES UTILITIES INC.
    (Exact name of registrant as specified in its charter)

     Iowa                              0-4117-1             42-0331370
(State or other jurisdiction         (Commission         (I.R.S. Employer
 of incorporation)                    File No.)           Identification No.)

    IES Tower, Cedar Rapids, Iowa                               52401
(Address of principal executive offices)                     (Zip Code)

Registrant's  telephone number, including area code:  319-398-4411

Item 5.  Other Events.

      The  Iowa  Utilities Board (Board) held a public  agenda
meeting  on  April  25, 1995, to discuss  the  issues  in  the
Company's  pending electric pricing case.  The  Company  is  a
wholly-owned   utility  subsidiary  of  IES  Industries   Inc.
(Industries).   Based on the Company's interpretation  of  the
Board's  discussion, the Board will require annual  reductions
in  electric  revenues of $15 million to $20  million.   As  a
result  of  the  Board's meeting, the Company has  recorded  a
pretax reserve for refunds of approximately $8 million  as  of
March 31, 1995.

       Reference  is  made  to  Note  3(a)  of  the  Notes  to
Consolidated Financial Statements included in the registrant's
Form 10-K for the year 1994.

      The  Press Release announcing Industries' first  quarter
earnings  is  attached  hereto and incorporated  by  reference
herein.

Item 7.  Financial Statements, Pro Forma Financial Information
         and Exhibits.

(c)  Exhibits

     99  IES Industries Inc. Press Release dated April 27, 1995.

                          SIGNATURES
                               
                               

      Pursuant to the requirements of the Securities  Exchange
Act of 1934, the registrant has duly caused this report to  be
signed  on  its  behalf  by  the  undersigned  thereunto  duly
authorized.

                                       IES UTILITIES INC.
                                          (Registrant)

                       By /s/         Blake O. Fisher, Jr.
                                          (Signature)
                                      Blake O. Fisher, Jr.
                               President, Chief Operating Officer
                                   & Chief Financial Officer

Date  April 27, 1995