SECURITIES AND EXCHANGE COMMISSION


                             Washington, D. C. 20549


                                    FORM 8-K


                                 CURRENT REPORT


                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


Date of Report (Date of earliest event reported)    February 12 , 1997
                                                 ------------------------


                                        GULF POWER COMPANY
              (Exact name of registrant as specified in its charter)


       Maine                        0-2429                     59-0276810
(State or other jurisdiction      (Commission                 (IRS Employer
     of incorporation)            File Number)             Identification No.)


500 Bayfront Parkway, Pensacola, Florida                               32501
     (Address of principal executive offices)                        (Zip Code)

Registrant's telephone number, including area code           (904)    444-6111
                                                             -----------------


                                            N/A
     (Former name or former address, if changed since last report.)













Item 7.  Financial Statements and Exhibits.


          (c)   Exhibits.

                23   -       Consent of Arthur Andersen LLP.

                27   -       Financial Data Schedule.

                99   -       Audited Financial Statements of Gulf Power Company
                             as of December 31,  1996.



                                    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.

                                                      GULF POWER COMPANY


                                                      By    /s/ Wayne Boston
                                                               Wayne Boston
                                                            Assistant Secretary


Date:    March 3, 1997