As filed with the Securities and Exchange Commission on January 29, 1998


                     SECURITIES AND EXCHANGE COMMISSION

                           Washington, DC  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):
                               January 26, 1998



                Exact name of Registrant as specified
Commission      in its charter, address of principal                State of           I.R.S. Employer
File No.        executive offices, telephone number               Incorporation       Identification No.
                                                                             
1-8349          FLORIDA PROGRESS CORPORATION                      Florida               59-2147112
                One Progress Plaza
                St. Petersburg, Florida 33701
                Telephone (813) 824-6400

1-3274          FLORIDA POWER CORPORATION                         Florida               59-0247770
                3201 34th Street South
                St. Petersburg, Florida 33711
                Telephone (813) 866-5151


The address of neither registrant has changed since the last report.

This combined Form 8-K represents separate filings by Florida Progress
Corporation and Florida Power Corporation. Florida Power makes no
representations as to the information relating to Florida Progress' diversified
operations.









Item 5.   Other Events


      In light of ongoing securities offerings by Florida Progress Corporation
("Florida Progress") and its subsidiaries, including Florida Power Corporation
("Florida Power") and Progress Capital Holdings, Inc., the following information
is being presented pending distribution of the combined Florida Progress and
Florida Power Annual Report on Form 10-K for the year ended December 31, 1997:

      Florida Progress issued a news release dated January 26, 1998 and a
related Investor News report of even date therewith reporting 1997 earnings.
Copies of the news release and report are being filed herewith as
Exhibits 99.(a) and 99.(b), respectively.


Item 7.  Financial Statements and Exhibits

      (c)  Exhibits:

Exhibit Number (by
reference to Item 601
of Regulation S-K)     Description of Exhibit

99.(a)                 Florida Progress Corporation News Release dated January
                       26, 1998 reporting 1997 earnings.

99.(b)                 Florida Progress Corporation Investor News report dated
                       January 26, 1998 reporting 1997 earnings.








                                SIGNATURES


      Pursuant to the requirements of the Securities Exchange Act of 1934, each
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                    FLORIDA PROGRESS CORPORATION

                                    FLORIDA POWER CORPORATION

                                          /s/ Pamela A Saari
                                    By:____________________________
                                          Pamela A. Saari
                                          Assistant Treasurer
                                          of each Registrant



Date:  January 26, 1998










                               EXHIBIT INDEX



Exhibit No.             Description of Exhibit

99.(a)                 Florida Progress Corporation News Release dated January
                       26, 1998 reporting 1997 earnings.

99.(b)                 Florida Progress Corporation Investor News report dated
                       January 26, 1998 reporting 1997 earnings.