SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 11-K

For the fiscal year ended December 31, 2000

_X_ Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of
1934

___ Transition Report Pursuant to Section 15(d) of the Securities Exchange Act
of 1394 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
163 Acorn Lane
Colchester, VT 05446
(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 and Schedules

December 31, 2000, 1999 and 1998

(With Independent Auditors' Report Thereon)

TABLE OF CONTENTS

Independent Auditors' Report 3

Financial Statements:

Statements of Net Assets Available for Plan Benefits 4

Statements of Changes in Net Assets Available for Plan Benefits 5

Notes to Financial Statements 6

Supplementary Schedules:

SCHEDULE

1 Schedule H, Line 4i - Assets Held at Year End 12

2 Schedule G, Part III - Nonexempt Transactions 13

INDEPENDENT AUDITORS' REPORT

The Retirement Board
Green Mountain Power Corporation
Employee Savings and Investment Plan and Trust:

We have audited the accompanying statements of net assets available for plan
benefits of Green Mountain Power Corporation Employee Savings and Investment
Plan and Trust (the Plan) as of December 31, 2000 and 1999, and the related
statements of changes in net assets available for plan benefits for each of the
years in the three year period ended December 31, 2000. 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 audits.

We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audits 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, 2000 and 1999, and the changes in net assets available for plan
benefits for each of the years in the three year period ended December 31, 2000,
in conformity with accounting principles generally accepted in the United States
of America.

Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplementary schedules of assets
held at year end and nonexempt transactions are presented for purposes of
additional analysis and are not a required part of the basic financial
statements but are supplementary information required by the Department of
Labor's Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. Such information has been subjected to
the auditing procedures applied in the audits of the basic financial statements
and, in our opinion, is fairly stated in all material respects in relation to
the basic financial statements taken as a whole.

June 20, 2001
Burlington, Vermont

Vt. Reg. No. 92-0000241

GREEN MOUNTAIN POWER CORPORATION
Employee Savings and Investment Plan and Trust
Statements of Net Assets Available for Plan Benefits
December 31, 2000 and 1999

2000 1999
----------- -----------

Assets:
Investments at fair value:
Green Mountain Power Corporation, common stock,
cost $2,138,400 and $1,511,914, respectively. . $ 2,191,258 $ 709,069
Registered investment companies, cost
$18,810,915 and $17,874,192, respectively . . . 19,662,313 21,388,441
----------- -----------

21,853,571 22,097,510

Investments at cost, which approximates fair value:
Participants' loans . . . . . . . . . . . . . . . 585,824 681,756
----------- -----------

Total investments . . . . . . . . . . . . . . . 22,439,395 22,779,266

Receivables:
Due from participating employers. . . . . . . . . - 88,830
----------- -----------

Net assets available for Plan benefits. . . . . . . $22,439,395 $22,868,096
=========== ===========

See accompanying 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
Years ended December 31, 2000, 1999 and 1998

2000 1999 1998
------------ ----------- -----------

Investment income:
Interest . . . . . . . . . . . . . . . . . $ 24,918 $ 204,251 $ 128,692
Dividends. . . . . . . . . . . . . . . . . 1,548,294 889,448 943,372
Net appreciation (depreciation) in fair
value of investments . . . . . . . . . . (1,506,097) 3,303,029 659,579
------------ ----------- -----------
67,115 4,396,728 1,731,643
------------ ----------- -----------

Contributions:
Employer . . . . . . . . . . . . . . . . . 390,913 420,901 418,705
Participant. . . . . . . . . . . . . . . . 980,369 1,116,295 1,401,710
------------ ----------- -----------
1,371,282 1,537,196 1,820,415
------------ ----------- -----------

Total additions. . . . . . . . . . . . . 1,438,397 5,933,924 3,552,058
------------ ----------- -----------

Administrative expenses. . . . . . . . . . . 27,436 37,260 36,996

Participants' withdrawals and distributions. 1,839,662 5,387,658 1,322,097
------------ ----------- -----------

Total deductions . . . . . . . . . . . . 1,867,098 5,424,918 1,359,093
------------ ----------- -----------

Net increase (decrease). . . . . . . . . (428,701) 509,006 2,192,965

Net assets available for Plan benefits:
Beginning of year. . . . . . . . . . . . . 22,868,096 22,359,090 20,166,125
------------ ----------- -----------

End of year. . . . . . . . . . . . . . . . . $22,439,395 $22,868,096 $22,359,090
============ =========== ===========

See accompanying notes to financial statements.

(1) PLAN DESCRIPTION

The following description of the 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 document for a more
complete description of the Plan's provisions.

(A) 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 subsidiary, Mountain Energy,
Inc.

The Company's Retirement Board is the Plan Administrator with the authority to
control and manage the operation and administration of the Plan. 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.
The Plan is subject to the provisions of the Employee Retirement Income Security
Act of 1974 (ERISA).

(B) CONTRIBUTIONS

Each year, participants may contribute up to 15% of pretax annual compensation,
as defined by the Plan. The Company contributed $.50 for every $1.00
contributed by the participant on the first 6% of the participant's eligible
compensation until January 31, 1999, when the Company began contributing 100% of
the first 4% of contributions made by the participants.

Each participant's account is credited with the participant's contributions,
allocations of the Company's contributions, and plan earnings, and charged with
participant's withdrawals, distributions and an allocation of administrative
expenses. Allocations are based on participant earnings or account balances, as
defined. The benefit to which a participant is entitled is the benefit that can
be provided from the participant's vested account.

(D) VESTING

Participants are immediately vested in their voluntary contributions as well as
the employers' contribution and any earnings thereon.

(E) INVESTMENT OPTIONS

Upon enrollment participants may direct their contributions to any of the
following investment options in 1% increments:

Intermediate Term Treasury Fund - This fund is invested in U.S. Treasury bills,
- --------------------------------
notes and bonds.

Value Fund - A conservative equity fund seeking long-term capital growth.
- -----------
Income is a secondary objective.
- -----

International Discovery Fund - Emerging growth fund seeking long-term growth
- ------------------------------
primarily through a diversified international portfolio of equity investments.
- ---

Strategic Allocation Funds: Conservative/Moderate/Aggressive - Asset allocation
- -------------------------------------------------------------
funds that invest in stocks, bonds and money market securities. This
diversification of these investments depends on the objective; whether it is
conservative, moderate or aggressive.

Premium Capital Reserve Fund - This fund is invested in high quality U.S. dollar
- ----------------------------
denominated money market instruments and other short-term obligations of banks,
governments and corporations.

Charles Schwab Fund - With a minimum amount of $1,000 an individual can purchase
- -------------------
investments that are offered through Schwab. These investments include mutual
funds, over-the-counter stocks, certificates of deposits, money markets, and
federally backed investments and bonds. A participant may not reallocate more
than 50% of their total balance to this investment group.

Baron Asset Fund - A small mid-cap growth fund seeking capital appreciation.
- ------------------
Investments are primarily in small and mid-cap companies with market values
- --
between $100 million and $5 billion.
- --

U.S. Small Company Fund - A fund that invests in small U.S. companies seeking to
- -----------------------
outperform the Russell 2000 index. Investment strategies include spreading risk
among many different industries so performance is less dependent on one
particular industry.

International Growth Fund - A fund seeking capital growth through equity
- ---------------------------
securities of small foreign companies. The high return potential corresponds
- -------
with high price fluctuation.
- --

Equity Index Fund - This fund seeks to match investment results with the
- -------------------
Standard & Poor's 500 Composite Stock Index. Stock mixes are weighted as
- -------
similar to the S&P 500 Index as possible.
- ------

GMP Stock Fund - This fund is invested in Green Mountain Power Corporation
- ----------------
common stock, a participating employer.
- -----

Participants may change their investment options daily. During 1999 the Vista
Fund and the Barclay's Equity Index Fund were removed and the Baron Asset Fund,
U.S. Small Company Fund, International Growth Fund and Equity Index Fund were
added as investment options.

The following number of employees were participating in each investment fund at
December 31, 2000 and 1999:

2000 1999
---- ----

Baron Asset Fund . . . . . . . . . . . 135 131
U.S. Small Company Fund. . . . . . . . 40 5
GMP Stock Fund . . . . . . . . . . . . 285 287
Intermediate Term Treasury Fund. . . . 4 54
Value Fund . . . . . . . . . . . . . . 112 142
International Discovery Fund . . . . . 161 152
Strategic Allocation Conservative Fund 47 50
Strategic Allocation Moderate Fund . . 137 135
Strategic Allocation Aggressive Fund . 144 133
Premium Capital Reserve Fund . . . . . 71 82
Charles Schwab Fund. . . . . . . . . . 3 3
Equity Index Fund. . . . . . . . . . . 162 182
International Growth Fund. . . . . . . 48 16

(F) PARTICIPANTS' LOANS

Participants may borrow from their fund accounts a minimum of $1,000 up to a
maximum equal to the lesser of $50,000 or 50 % of their account balance. Loan
transactions are treated as a transfer to (from) the investment fund from(to)
the participant loan fund. Loan terms range from 1-5 years or up to 30 years
for the purchase of a principal residence. The loans are secured by the balance
in the participant's account and bear interest at the Trustee's prime rate.
Principal and interest is paid ratably through monthly payroll deductions.

(G) PAYMENT OF BENEFITS

On termination of service due to death, disability or retirement, a participant
may elect to receive either a lump-sum amount or to purchase an annuity equal to
the value of the participant's vested interest in his or her account. For
termination of service due to other reasons, a participant may receive the value
of the vested interest in his or her account as a lump-sum distribution.

(2) SUMMARY OF ACCOUNTING POLICIES

(A) BASIS OF ACCOUNTING

The financial statements of the Plan are prepared under the accrual method of
accounting.

(B) USE OF ESTIMATES

The preparation of financial statements in conformity with generally accepted
accounting principles requires the Plan Administrator to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements. Actual results could differ from those estimates.

The Plan's investments are stated at fair value. Shares of registered
investment companies are valued at quoted market prices which represent the net
asset value of shares held by the Plan at year-end. The Company stock is valued
at its quoted market price. Participant loans are valued at cost which
approximates fair value.

(D) PAYMENT OF BENEFITS

Benefits are recorded when paid.

(3) RELATED PARTY TRANSACTIONS

The Plan's investments are held in trust by UMB Bank, N.A. and managed by
American Century Recordkeeping Services. The Plan's administrative expenses
represent fees paid for these services and qualify as party-in-interest
transactions. Automatic Data Processing, Inc. provides payroll processing for
the Company and qualifies as a party-in-interest, however the Company pays for
the cost of the services directly.

(4) PLAN TERMINATION

Although it has not expressed any intention to do so, the Company has the right
under the Plan to discontinue contributions or terminate the Plan at any time,
subject to the provisions of ERISA.

(5) INVESTMENTS

Investments that represent 5% or more of the Plan's net assets available for
benefits at December 31, 2000 and 1999 are as follows:

2000 1999
---------- ----------

Value Fund . . . . . . . . . . . . . $1,937,050 $1,974,550
International Discovery Fund . . . . 3,626,663 4,039,188
Strategic Allocation Moderate Fund . 2,472,098 2,511,961
Strategic Allocation Aggressive Fund 2,450,577 2,674,218
Premium Capital Reserve Fund . . . . 1,321,501 1,440,707
Equity Index Fund. . . . . . . . . . 3,888,677 5,126,056
Baron Asset Fund . . . . . . . . . . 1,493,982 1,489,889
GMP Stock Fund . . . . . . . . . . . 2,191,258 -

(6) TAX STATUS

The Internal Revenue Service has determined and informed the Company by a letter
dated May 26, 1995, that the Plan is qualified under the applicable provisions
of the Internal Revenue Code (IRC) and therefore exempt from Federal income
taxes. The Plan has been amended since receiving the determination letter. In
the opinion of the Plan administrator and the Plan's tax counsel, the Plan has
operated within the terms of the Plan and should remain qualified under the
applicable provisions of the IRC.

(7) REALIZED GAIN (LOSS) ON SALE OF INVESTMENTS

Aggregate cost, proceeds and realized net gain (loss) on investment transactions
were as follows for the years ended December 31, 2000, 1999 and 1998:

Green Mountain
Power Registered
2000 Corporation Investments
Common Stock Companies Total
-------------- ------------ ------------

Aggregate proceeds . . . . . . . . . . $ 356,875 $ 4,112,491 $ 4,469,366
Aggregate cost (based on average cost) (460,674) (3,707,641) (4,168,315)
Net gain (loss) . . . . . . . . . $ (103,799) $ 404,850 $ 301,051
============== ============ ============

1999

Aggregate proceeds . . . . . . . . . . $ 315,443 $10,175,188 $10,490,631
Aggregate cost (based on average cost) (447,274) (8,082,512) (8,529,786)
Net gain (loss). . . . . . . . . $ (131,831) $ 2,092,676 $ 1,960,845
============== ============ ============

Green Mountain
Power Registered
1998 Corporation Investments
Common Stock Companies Total
-------------- ------------ ------------

Aggregate proceeds . . . . . . . . . . $ 465,952 $ 2,717,818 $ 3,183,770
Aggregate cost (based on average cost) (641,486) (2,425,136) (3,066,622)
Net gain (loss). . . . . . . . . $ (175,534) $ 292,682 $ 117,148
============== ============ ============

(8) NET UNREALIZED APPRECIATION (DEPRECIATION) IN FAIR VALUE OF INVESTMENTS

The following summarizes the changes in net unrealized appreciation
(depreciation) in fair value of investments for the years ended December 31,
2000, 1999 and 1998:

Beginning Increase End
of Year (Decrease) of Year
---------- ------------ ----------

2000 $2,711,404 $(1,807,148) $ 904,256
1999 1,369,220 1,342,184 2,711,404
1998 826,789 542,431 1,369,220

(9) PROHIBITED PARTY-IN-INTEREST TRANSACTION

The Plan administrator has discovered that the quarterly employer contributions
have been calculated based upon inaccurate eligible earnings since the Company
outsourced its payroll processing in 1999. The Company is in the process of
quantifying the impact of this error on the Plan and will contribute any
necessary amounts to make the Plan whole when this process has been completed.
At this time it is not possible to estimate a receivable to the Plan however,
based on a preliminary assessment the Company does not believe that the amount
will be material to the Plan. In the opinion of the Plan administrator and the
Plan's tax counsel, this transaction does not disqualify the Plan's tax status.

SCHEDULE 1
GREEN MOUNTAIN POWER CORPORATION
Employee Savings and Investment Plan and Trust
Schedule H, Line 4i - Assets Held at Year End
December 31, 2000

(B) IDENTITY OF ISSUE
----------------------
*Green Mountain Power Corporation, common stock. . . . . . . 167,102 $ 2,138,400 $2,191,258

American Century:
*Intermediate Term Treasury Fund . . . . . . . . . . . . . 89,463 924,636 947,417
*Value Fund. . . . . . . . . . . . . . . . . . . . . . . . 303,613 1,962,958 1,937,050
*International Discovery Fund. . . . . . . . . . . . . . . 277,056 3,091,366 3,626,663
*Strategic Allocation Conservative Fund. . . . . . . . . . 92,986 501,283 498,405
*Strategic Allocation Moderate Fund. . . . . . . . . . . . 391,775 2,300,563 2,472,098
*Strategic Allocation Aggressive Fund. . . . . . . . . . . 338,011 2,152,657 2,450,577
*Premium Capital Reserve Fund. . . . . . . . . . . . . . . 1,321,501 1,321,501 1,321,501
*International Growth Fund . . . . . . . . . . . . . . . . 44,287 587,794 484,058
*Equity Index Fund . . . . . . . . . . . . . . . . . . . . 737,889 3,758,336 3,888,677

Baron Asset Fund . . . . . . . . . . . . . . . . . . . . . 27,468 1,620,675 1,493,982

U.S. Small Company Fund. . . . . . . . . . . . . . . . . . 10,750 328,042 280,781

Charles Schwab Fund. . . . . . . . . . . . . . . . . . . . 261,104 261,104 261,104

*Participants' loans, interest rates ranging from 6% to 9% 99 - 585,824
----------- ----------

Total investments. . . . . . . . . . . . . . . . . . . . $ 20,949,315 $22,439,395
====================== ===========

Note:
There were no assets held for investment which were both acquired and
disposed
during the Plan year, except for securities purchased from a broker/dealer
and
listed on a national securities exchange.

* Party-in-interest

See accompanying independent auditors' report.

GREEN MOUNTAIN POWER CORPORATION SCHEDULE 2

Employee Savings and Investment Plan and Trust
Schedule G, Part III - Nonexempt Transactions
Year ended December 31, 2000

EXPENSES CURRENT NET GAIN
IDENTITY OF RELATIONSHIP OF PLAN DESCRIPTION INCURRED COST VALUE OR (LOSS)
PARTY EMPLOYER OR OTHER OF PURCHASE SELLING LEASE WITH OF OF ON EACH
INVOLVED PARTY-IN-INTEREST TRANSACTION PRICE PRICE RENTAL TRANSACTION ASSET ASSET TRANSACTION
- -------------------------- ----------------------- ----------- ----- ----- ------ ----------- ----- ----- -----------

Plan Administrator . Employer contributions
not calculated on an
accurate eligible
earnings base.. $ * * *

* The Company is in the process of quantifying the impact of this
transaction error that occurred since the Company outsourced
its payroll processing in 1999

See accompanying independent auditors' report.

CONSENT OF INDEPENDENT AUDITORS'

We consent to the inclusion in the Annual Report on Form 11-K under the
Securities Exchange Act of 1934 for the years ended December 31, 2000, 1999 and
1998, of Green Mountain Power Corporation Employee Savings and Investment Plan
and Trust of our report dated June 20, 2001.

June 26, 2001
KPMG LLP
Burlington, Vermont

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Retirement Board of Green Mountain Power Corporation, 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/Nancy Rowden Brock
--------------------
Nancy Rowden Brock, Chairperson of
The Retirement Board of Directors

June 28, 2001