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



                          JUNE 3, 1994                  
        Date of Report (date of earliest event reported)



                    INTERSTATE POWER COMPANY               
     (Exact name of Registrant as specified in its Charter)


                            DELAWARE                   
         (State or other jurisdiction of incorporation)


                 1-3632               42-0329500    
               (Commission           (IRS Employer
               File Number)        Identification No.)


       1000 MAIN STREET,  DUBUQUE,  IOWA        52004-0769
           (Address of principal executive offices)  (Zip code)


                        (319)  582-5421                   
           (Registrant's telephone number, including area code)


















ITEM 5.   OTHER EVENTS.


Interstate Power Company filed an Iowa electric rate increase
application in August 1993.  The rate application requested a
12.35% return on common equity and an annual revenue increase of
$11.5 million.  An interim increase of $11.0 million became
effective October 28, 1993.

The Iowa Utilities Board (IUB) issued an Order on June 3, 1994. 
The IUB order granted a 11.0% return on common equity and an annual
revenue increase of $7.4 million.  

Through May 1994, the Company has collected $2.0 million in excess
of the IUB Order.  The overcollection will be offset against second
quarter 1994 income.  

The Company and other interested parties have until June 23, 1994
to request a rehearing of the IUB Order.





































                        S I G N A T U R E

Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Current Report to be
signed on its behalf by the undersigned hereunto duly authorized.


                                       INTERSTATE POWER COMPANY   
                                             (Registrant)



June 7, 1994                       By:    W. C. Troy  /s/        
                                             W. C. Troy   
                                             Controller
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{"company-data": {"conformed-name": "INTERSTATE POWER CO", "cik": "0000051720", "assigned-sic": "4931", "irs-number": "420329500", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-03632", "film-number": "94533256"}, "business-address": {"street1": "1000 MAIN ST", "street2": "PO BOX 769", "city": "DUBUQUE", "state": "IA", "zip": "52004-0769", "phone": "3195825421"}}
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

                          JUNE 3, 1994                  
        Date of Report (date of earliest event reported)

                    INTERSTATE POWER COMPANY               
     (Exact name of Registrant as specified in its Charter)

                            DELAWARE                   
         (State or other jurisdiction of incorporation)

                 1-3632               42-0329500    
               (Commission           (IRS Employer
               File Number)        Identification No.)

       1000 MAIN STREET,  DUBUQUE,  IOWA        52004-0769
           (Address of principal executive offices)  (Zip code)

                        (319)  582-5421                   
           (Registrant's telephone number, including area code)

ITEM 5.   OTHER EVENTS.

Interstate Power Company filed an Iowa electric rate increase
application in August 1993.  The rate application requested a
12.35% return on common equity and an annual revenue increase of
$11.5 million.  An interim increase of $11.0 million became
effective October 28, 1993.

The Iowa Utilities Board (IUB) issued an Order on June 3, 1994. 
The IUB order granted a 11.0% return on common equity and an annual
revenue increase of $7.4 million.  

Through May 1994, the Company has collected $2.0 million in excess
of the IUB Order.  The overcollection will be offset against second
quarter 1994 income.  

The Company and other interested parties have until June 23, 1994
to request a rehearing of the IUB Order.

                        S I G N A T U R E

Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Current Report to be
signed on its behalf by the undersigned hereunto duly authorized.

                                       INTERSTATE POWER COMPANY   
                                             (Registrant)

June 7, 1994                       By:    W. C. Troy  /s/        
                                             W. C. Troy   
                                             Controller