EXHIBIT 23.1
                              ARTHUR ANDERSEN LLP
















                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS





As independent  public  accountants,  we hereby consent to the  incorporation by
reference in this  Registration  Statement  on Form S-3  (relating to Gulf Power
Capital  Trust I Preferred  Securities,  Gulf Power  Capital  Trust II Preferred
Securities,  Gulf Power Capital Trust I Capital  Securities,  Gulf Power Capital
Trust II Capital  Securities,  Gulf Power Company Junior  Subordinated Notes and
Gulf Power Company  Guarantees with respect to Preferred  Securities and Capital
Securities of Gulf Power Capital Trust I and Gulf Power Capital Trust II) of our
reports on Gulf Power  Company  dated  February 21, 1996  included in Gulf Power
Company's  Form 10-K for the year ended  December 31, 1995 and to all references
to our firm included in this Registration Statement.



/s/ARTHUR ANDERSEN LLP



Atlanta, Georgia
December 30, 1996