As filed with the Securities and Exchange Commission on February 4, 2000

                       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 - FEBRUARY 4, 2000


Commission   Registrant, State of Incorporation   I.R.S. Employer
File Number  Address and Telephone Number         Identification No.
- -----------  -----------------------------------  ------------------

0-25595      NIAGARA MOHAWK HOLDINGS, INC.        16-1549726
             (a New York corporation)
             300 Erie Boulevard West
             Syracuse, New York 13202
             Telephone 315-474-1511

1-2987       NIAGARA MOHAWK POWER CORPORATION     15-0265555
             (a New York corporation)
             300 Erie Boulevard West
             Syracuse, New York 13202
             Telephone 315-474-1511




Item 5.  Other Events
- ---------------------

(a)  On February 4, 2000, Niagara Mohawk Holdings, Inc. issued a press
     release relating to its annual and fourth quarter earnings for 1999.
     See attached Exhibit No. 99.


Item 7.  Financial Statements and Exhibits
- ------------------------------------------

(c)  Exhibits - Following is the list of Exhibits furnished in accordance
     with the provisions of Item 601 of Regulation S-K, filed as part of this
     current report on Form 8-K.

Exhibit No. 99 - Press release of Niagara Mohawk Holdings, Inc. issued on
February 4, 2000, relating to its annual and fourth quarter earnings for 1999.



             NIAGARA MOHAWK HOLDINGS, INC. AND SUBSIDIARY COMPANIES

                                    SIGNATURE
                                    ---------



Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrants have duly caused this report to be signed on their behalf by the
undersigned thereunto duly authorized.



                                 NIAGARA MOHAWK HOLDINGS, INC.
                                 -----------------------------
                                        (Registrant)



Date:  February 4, 2000          By: /s/Steven W. Tasker
                                     --------------------
                                     Steven  W.  Tasker
                                     Vice President-Controller and
                                     Principal Accounting Officer,
                                     in his respective capacities
                                     as such



                                 NIAGARA MOHAWK POWER CORPORATION
                                 --------------------------------
                                        (Registrant)



Date:  February 4, 2000          By: /s/Steven W. Tasker
                                     -------------------
                                     Steven W. Tasker
                                     Vice President-Controller and
                                     Principal Accounting Officer,
                                     in his respective capacities
                                     as such



                                  EXHIBIT INDEX
                                  -------------

Following is the index of Exhibits furnished in accordance with the provisions
of Item 601 of Regulation S-K, filed as part of this current report on Form
8-K.

Exhibit No. 99 - Press release of Niagara Mohawk Holdings, Inc. issued on
February 4, 2000 relating to its annual and fourth quarter earnings for 1999.