As filed with the Securities and Exchange Commission on February 4, 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 30, 1998




                                                                           
                        Exact name of Registrant as
        Commission      specified in its charter, address              State of      I.R.S. Employer
        File No.        of principal executive offices, telephone    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. Information contained herein relating
to an  individual  registrant  is filed by that  registrant  on its own  behalf.
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 an Investor News report dated January 30, 1998 to
provide an update  concerning  the Florida Power Crystal River Nuclear  Plant. A
copy of the Investor News report is being furnished herewith as Exhibit 99.

Item 7.  Financial Statements and Exhibits

     (c)  Exhibits:

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

99                     Florida Progress Investor News report dated January 30,
                       1998 concerning Florida Power's Crystal River Nuclear
                       Plant.






                                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. The signature of the undersigned on behalf
of each  listed  company  shall be  deemed  to  relate  only to  matters  having
reference to such company.



                          FLORIDA PROGRESS CORPORATION

                            FLORIDA POWER CORPORATION

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



Date:  January 30, 1998














                               EXHIBIT INDEX



Exhibit No.            Description of Exhibit

99                     Florida Progress Investor News report dated January 30,
                       1998 concerning Florida Power's Crystal River Nuclear
                       Plant.