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 (Date of earliest event reported):
                                April 24, 1998



                         LONG ISLAND LIGHTING COMPANY
              (Exact name of registrant as specified in charter)
               New York                  1-3571               11-1019782
        (State of Incorporation)   (Commission File No.)   (I.R.S. Employer
                               Identification No.)


            175 East Old Country Road, Hicksville, New York  11801
                                 516-755-6650
         (Address and telephone number of Principal Executive Offices)


<PAGE>




Item 5.     Other Events

The Company is filing this Current  Report on Form 8-K to provide  unaudited pro
forma  consolidated  condensed  financial  information  for Long Island Lighting
Company  ("LILCO") and KeySpan Energy  Company  ("KeySpan") at December 31, 1997
and for the twelve months ended  December 31, 1997 in order to give effect under
the purchase method of accounting to the transactions summarized in Exhibit 99.1
hereto and in the assumptions set forth in the notes thereto.

Based on current  facts and  circumstances,  LILCO and KeySpan  believe that the
applicability  of the purchase  method of  accounting  is probable.  If the LIPA
Transaction  is not  consummated,  it is possible that the  combination  between
LILCO  and  KeySpan  would  qualify  for the  pooling  of  interests  method  of
accounting.

The unaudited pro forma consolidated  condensed financial  information set forth
in  Exhibit  99.1 to this  Current  Report on Form 8-K  reflects  the  condensed
consolidated financial information of LILCO contained in its Quarterly Report on
Form 10-Q filed on February 17, 1998 and of KeySpan  contained in its  Quarterly
Report  on Form  10-Q  filed  on  February  13,  1998.  Exhibit  99.1 is  hereby
incorporated by reference in response to this Item 5.


Item 7.     Financial Statements, Pro Forma Financial Information and Exhibits

The unaudited pro forma consolidated condensed financial information referred to
above in Item 5 and incorporated herein by reference,  is attached hereto as the
following Exhibit:

Exhibit
Number

99.1 Unaudited pro forma consolidated  condensed financial information for LILCO
     and KeySpan at December 31, 1997 and for the twelve  months ended  December
     31, 1997.

99.2 LILCO's  Quarterly  Report on Form 10-Q for the quarter ended  December 31,
     1997,  incorporated  herein by reference  and  available on the SEC's EDGAR
     system.

99.3 The Joint  Proxy  Statement/Prospectus  dated June 27,  1997,  incorporated
     herein by reference and available on the SEC's EDGAR system.








                                     - 2 -


<PAGE>



                                   SIGNATURE




      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.

Dated:      April 24, 1998


                              LONG ISLAND LIGHTING COMPANY
                                        Registrant
 
                             By: /S/ THEODORE A. BABCOCK
                              ---------------------------
                                    THEODORE A. BABCOCK
                              Vice President and Treasurer







                                     - 3 -



<PAGE>


                                 Exhibit Index


Exhibit
Number

99.1 Unaudited pro forma consolidated  condensed financial information for LILCO
     and KeySpan at December 31, 1997 and for the twelve  months ended  December
     31, 1997.

99.2 LILCO's  Quarterly  Report on Form 10-Q for the quarter ended  December 31,
     1997,  incorporated  herein by reference  and  available on the SEC's EDGAR
     system.

99.3 The Joint  Proxy  Statement/Prospectus  dated June 27,  1997,  incorporated
     herein by reference and available on the SEC's EDGAR system.





                                     - 4 -
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{"company-data": {"conformed-name": "LONG ISLAND LIGHTING CO", "cik": "0000060251", "assigned-sic": "4931", "irs-number": "111019782", "state-of-incorporation": "NY", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-03571", "film-number": "98601062"}, "business-address": {"street1": "175 E OLD COUNTRY RD", "city": "HICKSVILLE", "state": "NY", "zip": "11801", "phone": "5165455184"}, "mail-address": {"street1": "175 E. OLD COUNTRY RD", "city": "HICKSVILLE", "state": "NY", "zip": "11801"}}
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 (Date of earliest event reported):
                                April 24, 1998

                         LONG ISLAND LIGHTING COMPANY
              (Exact name of registrant as specified in charter)
               New York                  1-3571               11-1019782
        (State of Incorporation)   (Commission File No.)   (I.R.S. Employer
                               Identification No.)

            175 East Old Country Road, Hicksville, New York  11801
                                 516-755-6650
         (Address and telephone number of Principal Executive Offices)
Item 5.     Other Events

The Company is filing this Current  Report on Form 8-K to provide  unaudited pro
forma  consolidated  condensed  financial  information  for Long Island Lighting
Company  ("LILCO") and KeySpan Energy  Company  ("KeySpan") at December 31, 1997
and for the twelve months ended  December 31, 1997 in order to give effect under
the purchase method of accounting to the transactions summarized in Exhibit 99.1
hereto and in the assumptions set forth in the notes thereto.

Based on current  facts and  circumstances,  LILCO and KeySpan  believe that the
applicability  of the purchase  method of  accounting  is probable.  If the LIPA
Transaction  is not  consummated,  it is possible that the  combination  between
LILCO  and  KeySpan  would  qualify  for the  pooling  of  interests  method  of
accounting.

The unaudited pro forma consolidated  condensed financial  information set forth
in  Exhibit  99.1 to this  Current  Report on Form 8-K  reflects  the  condensed
consolidated financial information of LILCO contained in its Quarterly Report on
Form 10-Q filed on February 17, 1998 and of KeySpan  contained in its  Quarterly
Report  on Form  10-Q  filed  on  February  13,  1998.  Exhibit  99.1 is  hereby
incorporated by reference in response to this Item 5.

Item 7.     Financial Statements, Pro Forma Financial Information and Exhibits

The unaudited pro forma consolidated condensed financial information referred to
above in Item 5 and incorporated herein by reference,  is attached hereto as the
following Exhibit:

Exhibit
Number

99.1 Unaudited pro forma consolidated  condensed financial information for LILCO
     and KeySpan at December 31, 1997 and for the twelve  months ended  December
     31, 1997.

99.2 LILCO's  Quarterly  Report on Form 10-Q for the quarter ended  December 31,
     1997,  incorporated  herein by reference  and  available on the SEC's EDGAR
     system.

99.3 The Joint  Proxy  Statement/Prospectus  dated June 27,  1997,  incorporated
     herein by reference and available on the SEC's EDGAR system.

                                     - 2 -
SIGNATURE

      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.

Dated:      April 24, 1998

                              LONG ISLAND LIGHTING COMPANY
                                        Registrant
 
                             By: /S/ THEODORE A. BABCOCK
                              ---------------------------
                                    THEODORE A. BABCOCK
                              Vice President and Treasurer

                                     - 3 -
Exhibit Index

Exhibit
Number

99.1 Unaudited pro forma consolidated  condensed financial information for LILCO
     and KeySpan at December 31, 1997 and for the twelve  months ended  December
     31, 1997.

99.2 LILCO's  Quarterly  Report on Form 10-Q for the quarter ended  December 31,
     1997,  incorporated  herein by reference  and  available on the SEC's EDGAR
     system.

99.3 The Joint  Proxy  Statement/Prospectus  dated June 27,  1997,  incorporated
     herein by reference and available on the SEC's EDGAR system.

                                     - 4 -