SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C.  20549

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                                    FORM 8-K


              CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

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                DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):
                                APRIL 19, 2000


                                GREEN MOUNTAIN POWER CORPORATION
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


     VERMONT                                    03-0127430
(STATE  OR  OTHER  JURISDICTION  OF  INCORPORATION)                      (I.R.S.
EMPLOYER  IDENTIFICATION  NUMBER)


                                          1-8291
                             COMMISSION FILE NUMBER


                 163  ACORN  LANE,
                 COLCHESTER, VERMONT                       05446
      (ADDRESS  OF  PRINCIPAL  EXECUTIVE  OFFICES)
(ZIP  CODE)





                                    (802) 864-5731
                         (REGISTRANT'S TELEPHONE NUMBER,
                              INCLUDING AREA CODE)

Item  5.  Other  Events-Credit  Rating  Changes

            GREEN MOUNTAIN POWER ANNOUNCES RATING AGENCY DEVELOPMENTS
            ---------------------------------------------------------

     COLCHESTER,  VT Green Mountain Power Corporation (NYSE:GMP) announced today
the  results  of  recent  credit reviews by Standard & Poor's, Duff & Phelps and
Moody's.  The  ratings  for  the  Company's first mortgage bonds are as follows:

*     Standard  &  Poor's  reaffirmed  GMP's  BBB credit rating, maintaining the
investment grade designation, and continued the Company on creditwatch negative.
*     Duff  & Phelps Credit Rating Co. reaffirmed its investment grade rating of
BBB  and  maintained  the  Company  on  Watch-Down  status.
*     Moody's  downgraded  GMP's  first  mortgage  bond rating from Baa3 to Ba1,
which  is  one  notch  below investment grade, and kept the rating on review for
possible  further  downgrade.

      The credit rating agencies all expressed concern over the Company's credit
quality  due  to continued uncertainty over the regulatory and legal environment
in  Vermont,  the  protracted  negotiations  with  Hydro-Quebec  and other power
suppliers,  and  the  on-going  discussions  with  lenders  to  renew  lines  of
short-term  credit.  All  three  rating  agencies  commented  favorably  on  the
Company's  achieving  approval  of two temporary rate increases from the Vermont
Public  Service  Board  after  successful  negotiations  with the Vermont Public
Service  Department and the Company's largest customer, IBM. The Company pointed
to  these  temporary  rate  increases as positive developments in its continuing
effort  to  maintain active and constructive discussions with the Vermont Public
Service  Department.

     The  rating  agencies  also observed with approval the Company's efforts to
significantly  reduce  its operating costs while maintaining highly satisfactory
levels  of  customer  service.

     Despite  the  downgrade by Moody's, the Company noted that there are no new
business developments or changes in circumstances relating to GMP.  It continues
to:
*
*     negotiate  actively  with  Hydro-Quebec  to  reform  its  long-term  power
contract
*     pursue  regulatory  approval  for  the  proposed  sale  of  Vermont Yankee
*     prosecute  the  arbitration  relating to Hydro Quebec's failure to deliver
power  during  the  1998  ice  storm
*     pursue  the  on-going  rate  case before the Vermont Public Service Board.

     GMP expects to renew its $15 million line of credit in the near future, and
is  negotiating  for  other  sources  of  credit. The Company does not expect to
borrow  until  normal  seasonal  cash  needs  arise  in  the  fall.
     For further information, please contact Nancy Rowden Brock, Chief Financial
Officer,  (802)  655-8451,  or  Dorothy  Schnure,  Manager  of  Corporate
Communications,  (802)  655-8418.
ITEM  7.  FINANCIAL  STATEMENTS,  PRO  FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a)  and  (b)  --not  applicable
(c)  Exhibits--not  applicable





     SIGNATURES


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


GREEN  MOUNTAIN  POWER  CORPORATION
                                         Registrant



By  /s/  NANCY  ROWDEN  BROCK
    -------------------------
NANCY  ROWDEN  BROCK,  VICE  PRESIDENT,  CHIEF  FINANCIAL
OFFICER,  TREASURER  AND  CORPORATE
SECRETARY


BY  /S/  ROBERT  J.  GRIFFIN
    ------------------------
ROBERT  J.  GRIFFIN,  CONTROLLER

DATED:  April  19,  2000