File No. 70-8229


                          SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C.  20549

                                   Amendment No. 8
                                (Post-Effective No. 6)
                                          to
                                       Form U-1

                              APPLICATION OR DECLARATION

                                        under

                    The Public Utility Holding Company Act of 1935

                                  GULF POWER COMPANY
                                 500 Bayfront Parkway
                              Pensacola, Florida  32501

                 (Name of company or companies filing this statement
                    and addresses of principal executive offices)

                                 THE SOUTHERN COMPANY

                    (Name of top registered holding company parent
                           of each applicant or declarant)

                       Warren E. Tate, Secretary and Treasurer
                                  GULF POWER COMPANY
                                 500 Bayfront Parkway
                              Pensacola, Florida  32501

                     (Names and addresses of agents for service)

                  The Commission is requested to mail signed copies
                    of all orders, notices and communications to:

                    W. L. Westbrook                  John F. Young       
                 Financial Vice President            Vice President  
                 The Southern Company        Southern Company Services, Inc.
                 64 Perimeter Center East        One Wall Street, 42nd Floor
                  Atlanta, Georgia  30346         New York, New York  10005


                               John D. McLanahan, Esq.
                                   Troutman Sanders
                              600 Peachtree Street, N.E.
                                      Suite 5200
                             Atlanta, Georgia  30308-2216





        Item 1.   Description of Proposed Transactions.

             The first paragraph added to Item 1 in Amendment No. 7 (Post-

        Effective No. 5) is hereby deleted and replaced with the following:

             "Pursuant to the terms of the Second Series Revenue Bonds and

        the Trust Indenture under which they are to be issued, the rate of

        interest on the Second Series Revenue Bonds shall not in any event

        exceed 15% per annum.  Notwithstanding such maximum rate, the

        effective cost to Gulf of the Second Series Revenue Bonds determined

        from time to time will not exceed the yield at the time on U. S.

        Treasury securities having a comparable maturity.  Such effective

        cost will reflect the applicable interest rate or rates and any

        underwriter's discount or commission."





                                      SIGNATURE

             Pursuant to the requirements of the Public Utility Holding

        Company Act of 1935, the undersigned company has duly caused this

        amendment to be signed on its behalf by the undersigned thereunto

        duly authorized.



        Dated: September 27, 1994             GULF POWER COMPANY



                                              By                           
                                                      Wayne Boston
                                                   Assistant Secretary