Filed Pursuant to Rule 424(b)(2)
                                Registration File No. 33-61297

PRICING SUPPLEMENT NO. 1
Dated November 30, 1995 to
Prospectus dated September 8, 1995.



               BALTIMORE GAS AND ELECTRIC COMPANY

                          $225,000,000
                   Medium-Term Notes, Series D
         Due from 1 year to 30 years from Date of Issue
             (Interest Payable May 1 and November 1)
                                
                                
                                
Principal
Amount:        $3,000,000          $5,000,000          $5,000,000

Interest
Rate:               6.44%               5.84%               5.83%

Original
Issue Date:       12/4/95             12/4/95             12/4/95

Stated
Maturity:       12/5/2005             12/4/98             12/1/98

Initial
Redemption
Date (if any):       None                None                None

Price
to Public:     $3,000,000          $5,000,000          $5,000,000

Agent's
Commission:       $18,000             $17,500             $12,500

Net Proceeds
to Company:    $2,982,000          $4,982,500          $4,987,500


     This Pricing Supplement relates to the original issuance and
sale by Baltimore Gas and Electric Company (the "Company") of the
Medium-Term  Notes,  Series D, described  herein  through  Lehman
Brothers or Goldman, Sachs & Co., as agents.

       Medium-Term   Notes,  Series  D,  may  be   issued   under
Registration Statement No. 33-61297 (which also serves  as  Post-
Effective Amendment No. 1 to Registration Statement No. 33-57704)
by  the  Company  in a principal amount of up to $225,000,000  in
gross  proceeds  and,  to  date,  including  this  offering,   an
aggregate of $13,000,000 has been issued.