UNITED STATES 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 earliest event reported:  December 1, 1998





	     Exact name of Registrants as specified in their   IRS Employer
Commission     charters, addresses of principal executive     Identification  
File Number       offices and Registrants' phone number           Number
- -----------  -----------------------------------------------  --------------

1-8841                     FPL GROUP, INC.                      59-2449419
1-3545              FLORIDA POWER & LIGHT COMPANY               59-0247775
		       700 Universe Boulevard
		     Juno Beach, Florida 33408
			  (561) 694-4000



State or other jurisdiction of incorporation:  Florida










Item 5.  Other Events

Reference is made to Item 1. Business - FPL Operations - Retail Ratemaking and 
Item 7. Management's Discussion and Analysis of Financial Condition and 
Results of Operations - Results of Operations in the 1997 Form 10-K for FPL 
Group, Inc. and Florida Power & Light Company (FPL) and Item 5. (a) - Other 
Information in the FPL Group, Inc. and FPL Form 10-Q for the quarterly period 
ended September 30, 1998.

On December 1, 1998, the Florida Public Service Commission (FPSC) approved 
an agreement regarding FPL's allowed regulatory return on equity (ROE), 
equity ratio and special amortization program.  The FPSC is expected to 
issue an order by December 21, 1998.  Affected parties have 21 days 
following issuance of an order to protest the FPSC's decision and request a 
hearing.

Under the agreement, FPL's authorized ROE would be reduced from a range of 
11.0% to 13.0% to a range of 10.2% to 12.2% effective January 1, 1999.  For 
purposes of calculating ROE, FPL would agree to a maximum equity ratio of 
55.83% (which has been adjusted to reflect certain discounted long-term 
power purchase contracts) through 2000.  Also under the agreement, FPL's 
special amortization program would be extended through 2000 and, effective 
November 1, 1998, the program would be modified to include an additional 
fixed amount of $140 million per year over and above the amount of 
amortization based on the level of retail base revenues recorded under the 
current program.  In addition, the program would be expanded to allow the 
amortization of certain additional costs as may be determined appropriate by 
the FPSC in the future.











			       SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the 
registrants have duly caused this report to be signed on their behalf by the 
undersigned thereunto duly authorized.

			    FPL Group, Inc.
		     Florida Power & Light Company
			    (Registrants)



Date:  December 2, 1998         
			   
			   K. MICHAEL DAVIS        
		     ----------------------------      
			   K. Michael Davis
      Controller and Chief Accounting Officer of FPL Group, Inc.
	     Vice President, Accounting, Controller and
      Chief Accounting Officer of Florida Power & Light Company