SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1995
Commission file number 1-3004
Illinois Power Company
Incentive Savings Plan
(Full title of the plan)
Illinova Corporation
500 South 27th Street
Decatur, Illinois 62525
(Name of issuer of the securities held
pursuant to the plan and the address
of its principal executive office.)
ILLINOIS POWER COMPANY
INCENTIVE SAVINGS PLAN
FINANCIAL STATEMENTS
AND ADDITIONAL INFORMATION
DECEMBER 31, 1995
ILLINOIS POWER COMPANY
INCENTIVE SAVINGS PLAN
Index to Financial Statements and Additional Information
Page
Financial Statements:
Report of Independent Accountants 1
Statement of Net Assets Available for
Benefits with fund information as of
December 31, 1995 and 1994 2-14
Statement of Changes in Net Assets Available
for Benefits with fund information for the
years ended December 31, 1995 and 1994 15-27
Notes to Financial Statements 28-36
Additional Information:
Schedule I - Schedule of Assets Held for Investment
Purposes
Schedule II - Schedule of Reportable Transactions
NOTE: Schedules not included with this supplementary
information have been omitted because they are
not applicable.
One Boatmen's Plaza
St. Louis, MO 63101
Price Waterhouse LLP
REPORT OF INDEPENDENT ACCOUNTANTS
June 14, 1996
To the Participants and Administrator
of the Illinois Power Company
Incentive Savings Plan
In our opinion, the accompanying statements of net assets
available for benefits with fund information and the related
statements of changes in net assets available for benefits with
fund information present fairly, in all material respects, the
net assets available for benefits of the Illinois Power Company
Incentive Savings Plan at December 31, 1995 and 1994 and the
changes in net assets available for benefits for the years then
ended, in conformity with generally accepted accounting
principles. These financial statements are the responsibility of
the Plan's management; our responsibility is to express an
opinion on these financial statements based on our audits. We
conducted our audits of these statements in accordance with
generally accepted auditing standards which require that we plan
and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and
significant estimates made by management, and evaluating the
overall financial statement presentation. We believe that our
audits provide a reasonable basis for the opinion expressed
above.
Our audits were performed for the purpose of forming an opinion
on the basic financial statements taken as a whole. The
additional information included in Schedules I and II is
presented for purposes of additional analysis and is not a
required part of the basic financial statements but is additional
information required by ERISA. The Fund Information in the
statement of net assets available for benefits and the statement
of changes in net assets available for benefits is presented for
purposes of additional analysis rather than to present the net
assets available for benefits and changes in net assets available
for benefits of each fund. Schedules I and II and the Fund
Information have been subjected to the auditing procedures
applied in the audits of the basic financial statements and, in
our opinion, are fairly stated in all material respects in
relation to the basic financial statements taken as a whole.
By /s/ Price Waterhouse LLP
