As filed with the Securities and Exchange Commission on May 1, 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 - MAY 1, 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 May 1, 2000, Niagara Mohawk Holdings, Inc. issued a press release
     relating to its first quarter earnings for 2000.  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 May 1,
2000 relating to its first quarter earnings for 2000.



             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:  May 1, 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:  May 1, 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 May 1,
2000 relating to its first quarter earnings for 2000.