SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20559

                                 FORM 10-Q/A

             QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
                      SECURITIES EXCHANGE ACT OF 1934

                                AMENDMENT #1

For Quarter Ended September 30, 1994    Commission file number: 0-10533


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


     NEVADA                                                      95-3694478
(State  or  other  jurisdiction of                        (I.R.S.  Employer
incorporation or    organization)                      Identification No.)

4365 Executive Drive, Suite 900, San Diego, CA.                  92121
(Address of principal executive offices)                         (Zip Code)


Registrant's telephone number, including area code: (619)622-7800

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

Indicate  by  check mark whether the registrant (1) has filed  all  reports
required to be filed by Section 13 or 15(d) of the Securities Exchange  Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject  to
such filing requirements for the past 90 days.  YES X   NO    .

24,042,915 shares of Magma Power Company common stock, par value  $.10  per
share, were outstanding at September 30, 1994.

The total number of pages in this report is 5.
 1

The amended Form 10-Q for the period ended September 30, 1994 is being
submitted in order to include the required Financial Data Schedules 
inadvertantly omitted in the original filing.  All other information is
unchanged.

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ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K.
          
(a)  Exhibits:
     Financial Data Schedule EX-27
 3
     
                           SIGNATURES


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.


                              MAGMA POWER COMPANY
                              (Registrant)


Date:  December 21, 1994      s/Jon R. Peele,
                              Jon R. Peele,
                              Executive Vice President,
                              Secretary and General Counsel


Date:  December 21, 1994      s/Wallace C. Dieckmann
                              Wallace C. Dieckmann
                              Vice President, Chief Financial Officer


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