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): July 19, 1995



                             CENTRAL MAINE POWER COMPANY
                (Exact name of registrant as specified in its charter)




                   Maine             1-5139          01-0042740
          (State of Incorporation)   (Commission     (IRS Employer
                                     File Number)    Identification Number)




                        83 Edison Drive, Augusta, Maine 04336
                 (Address of principal executive offices) (zip code)



          Registrant's telephone number, including area code: (207)623-3521





          Item 1 through Item 4.  Not applicable.

          Item 5.  Other Events.

               (a)   Second-quarter financial results.   On July  21, 1995,
          the Company announced its  second-quarter financial results  with
          the following release:

                      "ONE-TIME MAINE YANKEE, RETIREMENT CHARGES
                         PRODUCE SECOND-QUARTER LOSS FOR CMP

               AUGUSTA,  Maine,  July  21,  1995  --   One-time  accounting
          charges for repairs under way  at the Maine Yankee plant  and for
          an early-retirement  program  have resulted  in an  $11.2-million
          second-quarter loss for Central  Maine Power Company, the utility
          said today.

               Although repair  bills for the steam-generator tube sleeving
          at  the  Maine Yankee  plant  will continue  for  several months,
          accounting rules required that  CMP charge its entire $15-million
          share of the estimated  $40-million repair cost to second-quarter
          expense.    Another  $4.8-million   charge  was  charged  against
          earnings for  costs associated with the  Special Retirement Offer
          that reduced  the company's work force by 200 people, or about 10
          percent,  as of July 1.   Savings from  that work-force reduction
          are expected to  contribute to improved financial  results in the
          future.

               The one-time charges for  the quarter ending June 30 reduced
          after-tax earnings for  common stockholders by 36  cents a share.
          A small operating  profit and  other income offset  part of  that
          impact,  leaving the  overall loss  at 34  cents a  common share,
          compared to earnings of 39 cents a share in the second quarter of
          1994.

               CMP's total quarterly  loss on common-equity investment  was
          $11.2 million,  compared to  earnings  of $12.7  million for  the
          second quarter of 1994.

               Service-area electricity sales were  2.11 billion  kilowatt-
          hours for the quarter, down from 2.22 billion kWh a year ago.

               Electricity sales for the first  half of the year  were 4.47
          billion kWh, down 4.9 percent from the 4.70-billion kWh level for
          the 1994 period.  Residential sales fell 5.9 percent; commercial,
          1  percent;  and  industrial,  6.3  percent.    The  company said
          competition from other forms of energy and the loss of sales to a
          large industrial  customer who began taking  service from another
          utility in late 1994 were factors in the decline.

               Operating revenues were  $203 million for the quarter,  down
          from  $212 million  in  the same  period  of 1994.    Six-months'
          revenues  were somewhat  higher  than a  year  ago, $466  million
          versus $453 million."





               (b)  Termination of Rights under Shareholder Rights Plan.  
          On  July  19,  1995,  the  Board  of  Directors  of  the  Company
          terminated,  effective immediately,  the  right  to exercise  the
          Rights  issued to  its shareholders  pursuant to  the Shareholder
          Rights Plan adopted  by the  Company on September  28, 1994,  and
          ordered the redemption of the Rights.  The Board directed payment
          of the redemption price of $.01 per Right on August  28, 1995, to
          holders of record  at the close of  business on August  14, 1995.
          On May  24, 1995, the shareholders  of the Company, by  a vote of
          50.36  percent  to  49.64  percent, had  approved  a  shareholder
          proposal  at  the   Company's  annual  meeting   of  shareholders
          recommending  redemption of  the  rights and  termination of  the
          Shareholder Rights Plan.

               (c)  Election of  Comptroller.  On July 19, 1995,  the Board
          of  Directors of  the Company  elected Robert  E.  Tuoriniemi, of
          Hallowell, Maine, Comptroller of the Company, effective August 1,
          1995.  He will replace  Robert S. Howe, who is retiring  from the
          Company.

               Item 6 through Item 8.  Not applicable.







                                      SIGNATURE



               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.

                                     CENTRAL MAINE POWER COMPANY


                                     By:                               
                                         D. E. Marsh
                                         Vice      President,     Corporate
                                         Services,   and  Chief   Financial
                                         Officer      

          Dated:  June 24, 1995