SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
For the fiscal year ended December 31, 1994
_X_ Annual Report Pursuant to Section 15(d)
of the Securities Exchange Act of 1934 [Fee Required]
___ Transition Report Pursuant to Section 14(d)
of the Securities Exchange Act of 1394 [No Fee Required]
For the transition period from to
Commission file number 1-8291
GREEN MOUNTAIN POWER CORPORATION
Employee Savings and Investment Plan and Trust
(Full title of the Plan)
Green Mountain Power Corporation
25 Green Mountain Drive, P. O. Box 850
South Burlington, VT 05402
(802) 864-5731
(Name of issuer of the securities held pursuant to the
Plan and the address of its principal executive office)
GREEN MOUNTAIN POWER CORPORATION
EMPLOYEE SAVINGS AND
INVESTMENT PLAN AND TRUST
Financial Statements
December 31, 1994
Green Mountain Power Corporation
Employee Savings and Investment Plan and Trust
TABLE OF CONTENTS
December 31, 1994
Page
INDEPENDENT AUDITOR'S REPORT 1
FINANCIAL STATEMENTS
Statements of Net Assets Available for Plan Benefits 3
Statements of Changes in Net Assets Available for
Plan Benefits 4
Notes to Financial Statements 5
INDEPENDENT AUDITOR'S REPORT
To the Retirement Board
Green Mountain Power Corporation
Employee Savings and Investment Plan and Trust
We have audited the accompanying statement of net assets available
for plan benefits of Green Mountain Power Corporation Employee
Savings and Investment Plan and Trust as of December 31, 1994 and
1993, and the related statements of changes in net assets available
for plan benefits for the years then ended. 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 audit.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards 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. An audit also
includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present
fairly, in all material respects, the net assets available for plan
benefits of the Plan as of December 31, 1994 and 1993, and the
changes in net assets available for plan benefits for the years
then ended, in conformity with generally accepted accounting
principles.
/s/KITTELL, BRANAGAN & SARGENT
KITTELL, BRANAGAN & SARGENT
St. Albans, Vermont
Registration No. 167
February 22, 1995
INDEPENDENT AUDITOR'S REPORT
To the Retirement Board
Green Mountain Power Corporation
We have audited the accompanying statement of changes in net assets
available for plan benefits of Green Mountain Power Corporation
Employee Savings and Investment Plan and Trust for the year ended
December 31, 1992. This financial statement is the responsibility
of the Plan's management. Our responsibility is to express an
opinion on this financial statement based on our audit.
We conducted our audit in accordance with generally accepted
auditing standards. Those standards 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. An audit also
includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
In our opinion, the financial statement referred to above presents
fairly, in all material respects, the changes in net assets
available for plan benefits of the plan for the year ended December
31, 1992, in conformity with generally accepted accounting
principles.
/s/URBACH KAHN & WERLIN PC
URBACH KAHN & WERLIN PC
Burlington, Vermont
Registration No.: 126
March 8, 1993
Green Mountain Power Corporation
Employee Savings and Investment Plan and Trust
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
December 31,
1994 1993
ASSETS
Investments at fair value as determined
by quoted market price:
Participating Employer:
Green Mountain Power Corporation common stock $ 4,823,239 $ 5,365,821
Twentieth Century Investors Ultra Fund 1,655,206 1,062,104
State Street S & P 500 Index Fund 1,243,157 945,053
Fidelity Asset Manager Fund 1,878,678 1,271,974
--------- ---------
9,600,280 8,644,952
--------- ---------
Investments at estimated fair value:
Chittenden Bank BIC - 1991 41,254
Money Market Fund 1,718,100 1,700,457
Participant loans 989,841 831,078
--------- ---------
2,707,941 2,572,789
--------- ---------
Receivables:
Accrued Interest and dividends 9,042
--------- ---------
9,042
--------- ---------
Cash 97,915 2,997
--------- --------
TOTAL ASSETS 12,406,136 11,229,780
---------- ----------
NET ASSETS AVAILABLE FOR PLAN BENEFITS $12,406,136 $11,229,780
=========== ===========
See Notes to Financial Statements.
Green Mountain Power Corporation
Employee Savings and Investment Plan and Trust
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
For the Years Ended December 31,
1994 1993 1992
INVESTMENT INCOME
Interest $ 173,518 $ 188,668 $ 206,928
Dividends on Green Mountain
Power Corporation Stock 347,529 330,450 276,367
Other dividends 69,009 53,370 224,497
Realized gain (loss)
on sale of investments (48,552) (13,470) 1,196
Net unrealized appreciation
(depreciation) in fair market
value of investments (726,965) (150,501) 301,466
--------- --------- ---------
(185,461) 408,517 1,010,454
--------- --------- ---------
CONTRIBUTIONS
Employer 455,722 435,248 374,089
Employee 1,364,346 1,310,940 1,145,695
Rollovers 8,301
Other 1,262
--------- --------- ---------
1,820,068 1,746,188 1,529,347
--------- --------- ---------
TOTAL ADDITIONS 1,634,607 2,154,705 2,539,801
--------- --------- ---------
BENEFITS PAID 458,251 349,096 276,677
--------- --------- ---------
TOTAL DEDUCTIONS 458,251 349,096 276,677
--------- --------- ---------
NET INCREASE 1,176,356 1,805,609 2,263,124
NET ASSETS AVAILABLE FOR PLAN BENEFITS
Beginning of Year 11,229,780 9,424,171 7,161,047
----------- ----------- -----------
End of Year $12,406,136 $11,229,780 $ 9,424,171
=========== =========== ===========
See Notes to Financial Statements.
Green Mountain Power Corporation
Employee Savings and Investment Plan and Trust
NOTES TO FINANCIAL STATEMENTS
December 31, 1994
NOTE 1 PLAN DESCRIPTION
The following brief description of Green Mountain Power
Corporation Employee Savings and Investment Plan and Trust
(the Plan) is provided for general information only.
Participants should refer to the Plan agreement for a more
complete description of the Plan's provisions.
General
The Plan is a defined contribution plan established by Green
Mountain Power Corporation. The Plan covers substantially all
full-time employees of Green Mountain Power Corporation (the
Company) and its subsidiaries, Green Mountain Propane Gas
Company, Inc. and Mountain Energy, Inc. The Plan is subject
to the provisions of the Employee Retirement Income Security
Act of 1974 (ERISA).
Administration of Plan Assets
The Plan's assets are held by the Trustee of the Plan, which
invests cash received, including interest and dividend income,
and makes distributions to participants. Administrative
expenses for the Trustee's fees are reimbursed by the Company.
Certain administrative functions are performed by employees of
the Company. No such employee receives compensation from the
Plan. Other administrative costs are paid directly by the
Company.
Participant Contributions
Upon enrollment or re-enrollment, participants shall direct
their contributions to be invested in one or more of the
following investment options in 10 percent increments:
GMP Stock Fund - This fund is invested in Green
Mountain Power Corporation common stock.
Equity Fund - This fund is invested in units of the
Wright Blue Chip Portfolio which is comprised
principally of corporate stock. The Wright Blue
Chip Portfolio is part of the Equity Fund for Bank
Trust Departments managed by Eaton Vance Management,
Inc.
Money Market - This fund is invested in the Lehman
Cash Fund.
Guaranteed Income Fund - This fund is invested in
bank investment contracts with Chittenden Bank.
S & P 500 Index Fund - This fund is invested in
units of the Standard & Poor's 500 Index Fund which
is comprised principally of corporate stock, held in
the Standard & Poor's 500 Index. The fund is
designed to duplicate the performance of the
Standard & Poor's 500 Index.
Temporary Cash Fund - This fund is invested in the
Lehman Cash Fund.
Asset Fund - This fund is invested in shares of the
Fidelity Asset Manager Fund which is comprised of a
broad mix of securities including equity, fixed
income, and money market securities.
Ultra Fund - This fund is invested in shares of the
Twentieth Century Ultra Investors Fund, which is
comprised of securities of small and emerging growth
companies. It invests in the stock of a wide range
of small to medium-sized growth companies.
Participants may revise the balance in each fund and/or
investment direction effective on the first day of each
quarter, by providing the Administrator with 30 days advance
written notice.
Company Contributions
For each participant, the Company contributes $.50 for every
$1.00 contributed by the participant on the first 6 percent of
the participant's eligible compensation. Company
contributions are invested in the GMP Stock Fund.
Loan Provisions
Effective July 1, 1986, the Plan allows participants to borrow
funds from their account. All loans require approval by the
Administrator. All loan repayments will be through payroll
deductions, except that loans may be repaid in a lump sum at
any time without penalty. The term of the loan will be no
greater than five years, except that loans which are used to
acquire, construct or rehabilitate a principal residence may
extend up to 30 years. Loans and associated interest must be
repaid in full at the time of retirement or termination. The
interest rate must be commensurate with the rate charged by
persons in the business of lending money for loans which would
be made under similar circumstances in accordance with
Department of Labor regulations.
Vesting
Employees are immediately vested in their voluntary
contributions as well as the employers' contribution and any
earnings thereon.
Tax Status
The Plan as originally established in 1985 has been determined
by the Internal Revenue Service (IRS) to be a qualified plan
under IRS Code Sections 401(k) and 409. A favorable
determination on the Plan, as restated effective January 1,
1989, is anticipated.
Plan Termination
Although it has not expressed any intent to do so, the Company
has the right to discontinue contributions or terminate the
Plan at any time, subject to the provisions of ERISA.
NOTE 2 VALUATION OF INVESTMENTS AT ESTIMATED FAIR VALUE
Bank Investment Contracts (BIC's) with Chittenden Bank are
also carried at their contract amount. Contract amounts
approximate estimated fair value. These contracts credit
interest at composite annual interest rates as indicated. The
money market fund is carried at its cash value. Participant
loans are carried at their unpaid principal balances at year
end, which also approximate estimated fair value.
1994 1993
Chittenden BIC - 1991: Interest at a rate of
8.26% for the period January 1, 1991 through
December 31, 1994 on all contributions
received by the Trust between January 1,
1991 and December 31, 1991. $ $ 41,254
Money Market Fund: Lehman cash fund;
interest at varying rates
approximating market. 1,718,100 1,700,457
Participant loans 989,841 831,078
---------- ----------
$2,707,941 $2,572,789
========== ==========
NOTE 3 INVESTMENTS
The details of investments as of December 31, 1994 were as follows:
Number
of Shares,
Contract
Amounts,
Units Cost Fair Value
GMP Stock Fund
Green Mountain Power Corp.
common stock 173,031 $4,684,840 $4,823,239
========= ========== ==========
Bank Investment Contract
Chittenden BIC 1991 $ $
========= ========= ==========
Ultra Fund
Twentieth Century Investors
Ultra Fund 82,968 $1,668,613 $1,655,206
========= ========== ==========
S & P 500 Fund
State Street S & P 500 Index Fund 17,618 $1,169,983 $1,243,157
========= ========== ==========
Asset Fund
Fidelity Asset Manager Fund 135,841 $1,974,937 $1,878,678
========= ========== ==========
Money Market Fund 1,718,100 $1,718,100 $1,718,100
========= ========== ==========
Participant Loans 989,841 $ 989,841 $ 989,841
========= ========== ==========
The details of investments as of December 31, 1993 were as follows:
GMP Stock Fund
Green Mountain Power Corp.
common stock 173,091 $4,777,732 $5,365,821
========= ========== ==========
Bank Investment Contract
Chittenden BIC 1991 41,254 $ 41,254 $ 41,254
========= ========== ==========
Ultra Fund
Twentieth Century Investors
Ultra Fund 49,654 $ 963,103 $1,062,104
========= ========== ==========
S & P 500 Fund
State Street S & P 500 Index Fund 13,579 $ 885,891 $ 945,053
========= ========== ==========
Asset Fund
Fidelity Asset Manager Fund 82,596 $1,189,354 $1,271,974
========= ========== ==========
Money Market Fund 1,700,457 $1,700,457 $1,700,457
========= ========== ==========
Participant Loans 831,078 $ 831,078 $ 831,078
========= ========== ==========
NOTE 4 REALIZED GAIN ON SALE OF INVESTMENTS
Aggregate costs, proceeds and realized net gain (loss) on investment
transactions were as follows:
1994
Aggregate proceeds $ 1,193,728
Aggregate cost (based on average cost) (1,242,280)
------------
NET GAIN (LOSS) $( 48,552)
============
1993
Aggregate proceeds $ 2,382,234
Aggregate cost (based on average cost) (2,395,705)
------------
NET GAIN (LOSS) $( 13,471)
============
1992
Aggregate proceeds $ 238,709
Aggregate cost (based on average cost) ( 237,513)
------------
NET GAIN (LOSS) $ 1,196
============
NOTE 5 UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENTS
The following summarizes unrealized appreciation (depreciation) in fair
market value of investments during each of the periods:
Balance January 1, 1992 $ 677,907
Unrealized appreciation - 1992 301,466
-----------
Balance, December 31, 1992 979,373
Unrealized depreciation - 1993 ( 150,501)
------------
Balance, December 31, 1993 828,872
Unrealized depreciation - 1994 ( 726,965)
------------
Balance, December 31, 1994 $ 101,907
============
NOTE 6 ALLOCATION OF FUNDS BY INVESTMENT PROGRAM
The allocation of assets, liabilities and net assets available for plan
benefits by investment program is as follows:
<TABLE>
<CAPTION>
S & P
500 GMP Temporary
Index Stock Income Cash Asset Ultra Loan
December 31, 1994 Fund Fund Fund Fund Fund Fund Fund Total
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Investments at fair value as determined
by quoted market price
Participating employer:
Green Mountain Power Corporation
common stock $ $4,823,239 $ $ $ $ $ $4,823,239
Twentieth Century Investors
Ultra Fund 1,655,206 1,655,206
State Street S & P 500 Index Fund 1,243,157 1,243,157
Fidelity Asset Manager Fund 1,878,678 1,878,678
Investments at estimated fair value
Chittenden Bank, Chittenden BIC 1991
Money Market Fund 1,718,100 1,718,100
Participant loans 989,841 989,841
Cash 89,606 8,309 97,915
---------- ---------- -------- ---------- ---------- ---------- -------- -----------
Total Assets $1,243,157 $4,912,845 $ $1,726,409 $1,878,678 $1,655,206 $989,841 $12,406,136
========== ========== ======== ========== ========== ========== ======== ===========
NET ASSETS AVAILABLE FOR PLAN BENEFITS $1,243,157 $4,912,845 $ $1,726,409 $1,878,678 $1,655,206 $989,841 $12,406,136
========== ========== ======== ========== ========== ========== ======== ===========
</TABLE>
<TABLE>
<CAPTION>
S & P
500 GMP Temporary
Index Stock Income Cash Asset Ultra Loan
December 31, 1993 Fund Fund Fund Fund Fund Fund Fund Total
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Investments at fair value as determined
by quoted market price
Participating employer:
Green Mountain Power Corporation
common stock $ $5,365,821 $ $ $ $ $ $ 5,365,821
Twentieth Century Investors Ultra Fund 1,062,104 1,062,104
State Street S & P 500 Index Fund 945,053 945,053
Fidelity Asset Manager Fund 1,271,974 1,271,974
-------- ---------- ------- --------- ---------- --------- --------- -----------
945,053 5,365,821 1,271,974 1,062,104 8,644,952
======== ========== ======= ========= ========== ========= ========= ===========
Investments at estimated fair value
Chittenden Bank, Chittenden BIC 1991 41,254 41,254
Money Market Fund 78,774 1,615,914 5,769 1,700,457
Participant loan 831,078 831,078
-------- --------- ------- --------- ---------- --------- -------- -----------
78,774 41,254 1,615,914 5,769 831,078 2,572,789
-------- --------- ------- --------- ---------- --------- -------- -----------
Receivables
Accrued interest and dividends 9,042 9,042
-------- --------- ------- --------- ---------- --------- -------- -----------
9,042 9,042
-------- --------- ------- --------- ---------- --------- -------- -----------
Cash 7 2,990 2,997
-------- ---------- ------- ---------- ---------- ---------- -------- -----------
Total Assets $945,053 $5,444,602 $50,296 $1,618,904 $1,271,974 $1,067,873 $831,078 $11,229,780
======== ========== ======= ========== ========== ========== ======== ===========
NET ASSETS AVAILABLE FOR PLAN BENEFITS $945,053 $5,444,602 $50,296 $1,618,904 $1,271,974 $1,067,873 $831,078 $11,229,780
======== ========== ======= ========== ========== ========== ======== ===========
</TABLE>
NOTE 7 CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS BY INVESTMENT PROGRAM
The allocation of the various components of changes in net assets available
for plan benefits by investment program for the years ended
December 31, 1994, 1993 and 1992 is as follows:
<TABLE>
<CAPTION>
S & P Temp-
500 GMP Guaranteed orary
Index Stock Income Cash Asset Ultra Loan Equity
December 31, 1994 Fund Fund Fund Fund Fund Fund Fund Fund Total
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Interest $ 8,421 $ 13,239 $ 283 $ 75,074 $ 13,144 $ 63,357 $ $ $173,518
Dividends on Green
Mountain Power stock 347,529 347,529
Other dividends 69,009 69,009
Realized gain (loss) on
sale of investments 4,174 (47,781) (1,408) (3,537) (48,552)
Net unrealized
appreciation
(depreciation) in fair
value of investments 14,012 (452,690) (178,879) (109,408) (726,965)
-------- --------- ------- ---------- ---------- --------- -------- --------- -----------
Total Investment
Income 26,607 (139,703) 283 75,074 (98,134) ( 49,588) (185,461)
-------- --------- ------- ---------- ---------- --------- -------- --------- -----------
Contributions:
Employer 455,722 455,722
Employee 213,946 329,428 169,535 339,317 312,120 1,364,346
-------- -------- ------- ---------- ---------- --------- -------- ---------- ----------
Total Contributions 213,946 785,150 169,535 339,317 312,120 1,820,068
-------- -------- ------- ---------- ---------- --------- -------- ---------- ----------
Total Additions 240,553 645,447 283 244,609 241,183 262,532 1,634,607
-------- -------- ------- ---------- ---------- --------- -------- ---------- ----------
Benefits Paid 9,480 220,833 913 84,724 86,715 55,586 458,251
-------- -------- ------- ---------- --------- --------- -------- ---------- ----------
Total Deductions 9,480 220,833 913 84,724 86,715 55,586 458,251
-------- -------- ------- ---------- --------- --------- -------- ---------- ----------
Interfund Transfers 67,031 (956,372) (49,666) (52,382) 452,236 380,390 158,763
-------- --------- -------- ----------- --------- --------- --------- ---------- ----------
Net Increase (Decrease) 298,104 (531,758) (50,296) 107,503 606,704 587,336 158,763 1,176,356
NET ASSETS AVAILABLE
FOR PLAN BENEFITS:
Beginning of Year 945,053 5,444,602 50,296 1,618,906 1,271,974 1,067,871 831,078 11,229,780
-------- ---------- -------- --------- --------- --------- ------- ---------- ----------
End of Year $1,243,157 $4,912,844 $ 0 $1,726,409 $1,878,678 $1,655,207 $989,841 $ 0 12,406,136
========== ========== ========= ========== ========== ========== ======== ========== ==========
</TABLE>
<TABLE>
<CAPTION>
S & P Temp-
500 GMP Guaranteed orary
Index Stock Income Cash Asset Ultra Loan Equity
December 31, 1993 Fund Fund Fund Fund Fund Fund Fund Fund Total
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Investment income:
Interest $ 7,825 $ 12,029 $ 117,504 $ 38,361 $ 6,637 $ 5,312 $ $ 1,000 $188,668
Mountain Power stock 330,450 330,450
Other dividends 53,370 53,370
Realized gain (loss) on
sale of investments 809 2,866 2,137 (438) (18,844) ( 13,470)
Net unrealized
appreciation
(depreciation) in fair
value of investments 59,161 (391,281) 82,620 98,999 (150,501)
------ --------- ------- ------- ------- -------- ------ ----------- ----------
Total Investment Income 67,795 (45,936) 117,504 38,361 144,764 103,873 (17,844) 408,517
------ --------- ------- ------- ------- -------- ------ ----------- ----------
Contributions:
Employer 435,248 435,248
Employee 225,653 434,955 214,970 236,542 198,820 1,310,940
------- ------- ------- ------- ------- ------- ------- ---------- -----------
Total Contributions 225,653 870,203 214,970 236,542 198,820 1,746,188
------- ------- ------- ------- ------- ------- ------- ---------- -----------
Total Additions 293,448 824,267 117,504 253,331 381,306 302,693 (17,844) 2,154,705
------- ------- ------- ------- ------- ------- ------- ----------- -----------
Benefits Paid 3,171 203,191 40,321 100,208 525 1,680 349,096
------- ------- ------- ------- ------- ------- ------- ----------- ----------
Total Deductions 3,171 203,191 40,321 100,208 525 1,680 349,096
------- ------- ------- ------- ------- ------- ------- ----------- ----------
Interfund Transfers 654,776 (349,467) (1,852,239) 484,748 891,193 766,858 831,078 (1,426,947)
------- --------- ----------- ------- ------- ------- ------- ----------- ----------
Net Increase (Decrease) 945,053 271,609 (1,775,056) 637,871 1,271,974 1,067,871 831,078 (1,444,791) 1,805,609
NET ASSETS AVAILABLE
FOR PLAN BENEFITS:
Beginning of Year 5,172,993 1,825,352 981,035 1,444,791 9,424,171
------- --------- ---------- -------- -------- --------- ------- ----------- -----------
End of Year $ 945,053 $5,444,602 $ 50,296 $1,618,906 $1,271,974 $1,067,871 $831,078 $ 0 $11,229,780
======= ========= ========== ========= ========= ========== ======== =========== ===========
</TABLE>
<TABLE>
<CAPTION>
GMP Guaranteed Money
December 31, 1992 Stock Fund Income Fund Equity Fund Market Total
<S> <C> <C> <C> <C> <C>
Investment income:
Interest $ 18,139 $ 109,465 $ 11,154 $ 68,169 $ 206,927
Dividends on Green Mountain Power stock 276,368 276,368
Other dividends 224,497 224,497
Realized gain (loss) on sale of investments 4,105 (2,909) 1,196
Net unrealized appreciation (depreciation)
in fair value of investments 445,368 (143,902) 301,466
---------- ----------- ------------ -------- ----------
Total Investment Income 743,980 109,465 88,840 68,169 1,010,454
Contributions:
Employer 374,089 374,089
Employee 478,266 301,415 366,014 1,145,695
Rollover 2,085 2,085 4,130 8,300
Other 1,263 1,263
---------- ----------- ------------ -------- ----------
Total Contributions 855,703 303,500 370,144 1,529,347
---------- ----------- ------------ -------- ----------
Total Additions 1,599,683 109,465 392,340 438,313 2,539,801
---------- ----------- ------------ -------- ----------
Benefits Paid 144,994 56,386 32,472 42,825 276,677
---------- ----------- ------------ -------- ----------
Total Deductions 144,994 56,386 32,472 42,825 276,677
Interfund Transfers 87,958 (1,062,826) 389,323 585,545
---------- ----------- ------------ -------- ----------
Net Increase (Decrease) 1,542,647 (1,009,747) 749,191 981,033 2,263,124
NET ASSETS AVAILABLE FOR PLAN BENEFITS:
Beginning of Year 3,630,346 2,835,099 695,602 7,161,047
--------- ---------- ------------ -------- ---------
End of Year $5,172,993 $1,825,352 $1,444,793 $981,033 $9,424,171
========== ========== ============ ======== ==========
</TABLE>
CONSENT OF INDEPENDENT AUDITOR
We consent to the incorporation by reference in the Registration Statement
on Form S-8 (File No. 33-47985) under the Securities Act of 1933 of Green
Mountain Power Corporation of our report dated February 22, 1995, contained
in the Annual Report on Form 11-K under the Securities Exchange Act of 1934
for the year ended December 31, 1994, of Green Mountain Power Corporation
Employee Savings and Investment Plan and Trust.
/s/KITTELL, BRANAGAN & SARGENT
KITTELL, BRANAGAN & SARGENT
St. Albans, Vermont
Registration No. 167
March 23, 1995
CONSENT OF INDEPENDENT AUDITOR
We consent to the incorporation by reference in the Registration Statement
on Form S-8 (File No. 33-47985) under the Securities Act of 1933 of Green
Mountain Power Corporation of our report dated March 8, 1993, contained
in the Annual Report on Form 11-K under the Securities Exchange Act of 1934
for the year ended December 31, 1994, of Green Mountain Power Corporation
Employee Savings and Investment Plan and Trust.
St. Albans, Vermont /s/URBACH, KAHN & WERLIN, P.C.
Registration No. 126 URBACH, KAHN & WERLIN, P.C.
February 22, 1995
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Retirement Board, which administers the Plan, has duly caused this
annual report to be signed on its behalf by the undersigned hereunto
duly authorized.
GREEN MOUNTAIN POWER CORPORATION
EMPLOYEE SAVINGS AND INVESTMENT
PLAN AND TRUST
By: /s/Glenn J. Purcell
Glenn J. Purcell
Chairman of the Retirement Board
Date: March 29, 1995
