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):
                                DECEMBER 2, 2003

                        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  9.  OTHER  INFORMATION
On  December  3,  2003,  Christopher  L.  Dutton,  President and Chief Executive
Officer  of  the  Company,  and Robert J. Griffin, Vice President, Treasurer and
Controller  of  the  Company,  will  make  a  presentation  at  a  conference on
"Investing  in  the  Electric  Utilities  Industry" presented by the Wall Street
Transcript  being  held  in New York, New York.  The presentation will include a
discussion  of  the  following  matters:

1.  The  Company's  principal  financial and growth objectives include prospects
for  dividend  growth,  a  transmission  investment  opportunity in northwestern
Vermont  subject  to  approval by the Vermont Public Service Board ("VPSB"), and
continued  growth  in  business  services.

2.  The  Company  currently has a dividend payout ratio of slightly less than 40
percent  of  earnings, well below the payout ratios of other comparable electric
utilities.  The  current  payout  ratio,  if  continued  at its low level, would
result  in  significant  growth  in  the  proportionate  share  of equity in the
Company's  capital  structure, which would be costly for the Company's customers
to  support.  Therefore  the  Company expects to increase its dividend rate over
the  next  five  years to bring the Company's dividend payout ratio in line with
comparable  companies  at  between  50  and 70 percent of earnings.  The Company
expects  to  evaluate  its  current  dividend rate in the first quarter of 2004.

3.  The  Company  owns  approximately  30  percent of the Vermont Electric Power
Company  ("VELCO"),  which  owns and operates most of the transmission assets in
Vermont.  VELCO  and the Company are presently seeking approval from the VPSB to
expand  the  transmission capacity of an existing line that supports reliability
in northwestern Vermont  (the "Northwest Reliability Project").  VELCO's Project
costs  are  estimated  at  $128 million for all of Vermont and the Company could
invest  up to $24 million in VELCO through 2008, primarily for its proportionate
share  of  the  Northwest  Reliability  Project.  If  the  Northwest Reliability
Project  is  approved,  the  Company  would  finance  its investment through the
issuance  of  debt over this period of time.  The Company's capital structure is
expected  to  continue  to  be weighted evenly between debt and equity over this
timeframe.  The  Company considers the Northwest Reliability Project to be vital
to  maintaining  a  reliable electric system for its customers and to sustaining
the  economic  health  of  the  region.

4.  The  Company  expects earnings of approximately $1.90 to $1.95 per share for
2003  and  a  return  on  equity  for  utility  operations of 10.5%, if the VPSB
approves  a  three-year  rate  plan  described  in a Memorandum of Understanding
("MOU")  between  the  Company and the Vermont Department of Public Service.  If
the  MOU  is  not approved, the Company's allowed and estimated return on equity
for  2003  would remain at 11.25 percent and expected earnings would increase to
between  $2.05  and  $2.10  per  share.  The  MOU rate plan provides for no rate
increase  in  2004,  and  modest  rate  increases of 1.9 percent in 2005 and 0.9
percent  in  2006.  The  Company  believes that the financial stability that the
rate  increases provide through 2006 outweighs the modest reduction in return on
equity.

5.  The  Company  will  reiterate  that  it  does  not  expect  to make material
investments  in  new  unregulated  operations  through  2007.  If  the Northwest
Reliability Project does not go forward, the Company would consider accelerating
increases  in  dividends or buying back equity to meet its goal of maintaining a
capital  structure  that  is  evenly  divided  between  debt  and  equity.

Appended is the abbreviated text of a graphic media presentation relating to the
above-listed  matters  used  at  the  December  3,  2003  presentation.

         Abbreviated Text of December 3, 2003, Power Point Presentation
                              Safe Harbor Statement
There  are  statements in this information that contain projections or estimates
and that are considered to be "forward-looking" as defined by the Securities and
Exchange  Commission  (the "SEC").  In these statements, you may find words such
as  believes,  expects,  plans,  or  similar  words.  These  statements  are not
guarantees  of our future performance.  There are risks, uncertainties and other
factors  that  could  cause actual results to be different form those projected.

          Management  Strategy
Superior  Dividend  Growth
Invest  in  Transmission
Grow  Utility  Services  Business

          VELCO  Transmission  Growth  Strategy
Current  capitalization  structure  for  VELCO
Potential  to  increase  equity
Invest  up  to  $24  million  thru  2008
Attractive  risk-adjusted  return

          Utility  Services  Growth  Strategy
Reduces  rates  for  customers
Solid  growth  potential
More  efficient  use  of  workforce

          Financial  Overview
Capital  Structure
Targeted  50%  common  equity  (50%  to  be  achieved  by  year-end)
No  preferred  equity,  no  hybrids,  limited  use  of  short-term  debt
Limited  debt  maturities  (millions):
     2003     2004     2005     2006     2007
        $8        $0        $0      $14        $0

          Effective  Risk  Mitigation  Strategies
Power  Supply
     Power  supply  contracts  reduce  outage  and  other  operating  risks.
     All  Company  power  contract  costs  being  recovered  in  rates:
Morgan  Stanley  effective  through  2006
Vermont  Yankee  contract  expires  in  2012
Hydro-Quebec  contract  expires  2015
IBM
Seventeen  percent  of  retail  revenues,  lowest margin customer.  A worst-case
hypothetical shutdown of IBM would require an estimated rate increase of between
5  to  8  percent.
While  IBM has reduced its workforce over the past couple of years from 8,500 to
6,000,  the company's results and rate needs have not been impacted, in part due
to  low  unemployment  and  steady  growth  in  our  service  territory.
Regulatory
     A  Memorandum  of Understanding (MOU) with the Vermont Department of Public
Service  is  currently  before  the  Vermont  Public Service Board.  The MOU, if
approved,  would provide for modest rate increases in 2005 and 2006 and a cap on
the  Company's  return  on  equity  for utility operations of 10.5 percent.  The
Company  believes  the  MOU,  if  approved,  would  provide it an opportunity to
achieve  its  allowed  rate  of  return  through  2006.

Weather
     Weather  derivatives  used  to  lessen risk associated with adverse weather
patterns'  effect  on  earnings.







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
DATED:  December  2,  2003          By:/s/ROBERT  J.  GRIFFIN
                                    -------------------------
ROBERT  J.  GRIFFIN,  VICE  PRESIDENT,
CONTROLLER  AND  TREASURER

DATED:  December  2,  2003          By:/s/ROBERT  J.  GRIFFIN
                                    -------------------------
ROBERT  J.  GRIFFIN,  VICE  PRESIDENT,
CONTROLLER  AND  TREASURER
                              (AS  PRINCIPAL  FINANCIAL  OFFICER)



     There  are  statements in this information release that contain projections
or  estimates  and that are considered to be "forward-looking" as defined by the
Securities  and  Exchange  Commission (the "SEC").  In these statements, you may
find words such as believes, expects, plans, or similar words.  These statements
are  not  guarantees  of our future performance.  There are risks, uncertainties
and  other  factors  that  could cause actual results to be different from those
projected.

     For  further  information,  please  contact  Robert Griffin, Controller and
Treasurer  of  Green Mountain Power, at 802-655-8452 or Dorothy Schnure, Manager
of  Corporate  Communications,  at 802-655-8418, or 802-482-2503 after 6:00 p.m.