UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                    FORM 8-K
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                                 CURRENT REPORT



                         PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934



       Date of Report (Date of earliest event reported): January 18, 1999




                       BALTIMORE GAS AND ELECTRIC COMPANY
             (Exact name of registrant as specified in its charter)




        Maryland                     1-1910                      52-0280210
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(State of incorporation)           (Commission                 (IRS Employer
                                    File Number)             Identification No.)




                39 W. Lexington Street Baltimore, Maryland 21201
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            (Address of principal executive offices) (Zip Code)



                                  410-234-5511
              (Registrant's telephone number, including area code)




                                 Not Applicable
(Former name,former address and former fiscal year if changed since last report)


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ITEM 5.  Other Events



Attached to this  Current  Report on Form 8-K as Exhibit 99 is a news release of
the Registrant which includes details about financial performance for the twelve
months ended December 31, 1998.  These earnings  reflect the $15.4 million ($.10
per share)  after-tax  write-down  for Church  Street  Station  taken during the
fourth quarter of 1998.


ITEM 7. Financial Statements and Exhibits

 (c) Exhibit No. 99        News Release of Baltimore Gas and Electric Company 
                           dated January 18, 1999.











                                    SIGNATURE


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


                       BALTIMORE GAS AND ELECTRIC COMPANY
                                  (Registrant)


Date  January 21, 1999                              /s/  D. A. Brune           
    -------------------                 ---------------------------------------
                                                D. A. Brune, Vice President
                                                on behalf of the Registrant and
                                                as Principal Financial Officer





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                                  EXHIBIT INDEX

    Exhibit
    Number 

     99                     News Release of Baltimore Gas and Electric Company 
                                   dated January 18, 1999.



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