FORM 8-K



                  SECURITIES AND EXCHANGE COMMISSION

                        Washington, D.C.  20549



                            CURRENT REPORT



                Pursuant to Section 13 or 15(d) of the
                    Securities Exchange Act of 1934

                    Date of Report:  September, 1997


                      MAINE PUBLIC SERVICE COMPANY            
        (Exact name of registrant as specified in its charter)



            Maine                   1-3429          01-0113635      
(State, or other jurisdiction    (Commission       (IRS Employer
      of incorporation)          File Number)    Identification No.)


209 State Street, Presque Isle, Maine                 04769  
(Address of principal executive offices)            (Zip Code)


Registrant's Telephone Number, Including Area Code   207-768-5811









Current Report, Form 8-K for                            Date of Report
Maine Public Service Company                         September 4, 1997

Item 5.   Other Material Events - Proposed Disposition of Company's
          Generation and Generation-Related Assets Pursuant to State Law
          Mandating Electric Utility Industry Restructuring

          On May 29, 1997, Governor King signed into law legislation
          entitled "An Act To Restructure The State's Electric Industry"
          (the Act).  Please refer to the Company's Form 10-Q for the
          quarter ended June 30, 1997 for a complete description of the
          Act.  Under the Act, all electric utilities in Maine must
          divest themselves of their generation or generation-related
          assets, located in the United States, by March 1, 2000.

          On August 29, 1997, the Company announced its intent to begin
          the sale of all of its 91.7 MW of hydroelectric and fossil
          fuel generating assets by March 1, 1998 as well as its rights
          under a power purchase agreement for the 18.1 MW output of the
          Wheelabrator-Sherman Energy Company, an independent power
          producer.  The Company's evaluation of the timing of the
          proposed sale identified several advantages to proceeding with
          the divestiture at this time as opposed to waiting until a
          time closer to the statutory deadline.  Among these reasons
          are the high interest in the area's generating assets
          engendered by both the New England Electric System's and
          Central Maine Power Company's recently announced intent to
          sell their assets, the current tight capacity situation in New
          England and the New Brunswick Power Corporation's January 1,
          1998 implementation of an open access transmission tariff.

          On August 29 and September 2, 1997, the Company mailed to over
          300 utilities, businesses, power marketers and generators in
          the United States and Canada a letter briefly identifying the
          assets to be sold and soliciting expressions of interest. 
          Interested bidders will be required to sign a confidentiality
          agreement and will then be furnished with an Offering
          Memorandum that describes in considerable detail the assets
          being sold and the transaction process.  Interested parties
          may also visit and inspect the Company's various facilities
          and review the Company's generating asset-related documents
          and records at the Company's place of business.  According to
          the schedule in this Offering Memorandum, by October 27, 1997,
          all interested bidders must submit a non-binding Statement of
          Qualifications indicating their abilities to operate and
          maintain the assets and to consummate the transfer.  On
          November 10, 1997, the Company will notify short-listed
          bidders to begin their due diligence activities.  Short-listed
          bidders will be selected based on their technical and
          financial qualifications.  On December 8, 1997, binding
          proposals will be due from these bidders.  By March 1, 1998,
          the Company intends to complete negotiations with these
          bidders for the transfer of the assets.  Stone and Webster
          Management Consultants, Inc. is assisting the Company in this
          process.




















































                                   -2-

Current Report, Form 8-K for                            Date of Report
Maine Public Service Company                         September 4, 1997

          Because of the Company's obligation as sole supplier in its
          service territory until March 1, 2000, the Company's proposed
          sale has an option where bidders can offer to sell to the
          Company the generation through February 29, 2000.  On August
          26, 1997, the Company also issued an RFP for power supply
          through the same period.

          The assets to be sold include:

          -    Millinocket Lake Storage Dam in T-7, R-9, WELS, Maine
          -    1.4 MW of hydroelectric power at Squa Pan Generating
               Station and Storage Dam in Masardis, Maine
          -    30.9 MW Caribou Generating Station, consisting of 23 MW
               of oil-fired steam power, 7 MW of diesel power, and .9 MW
               of hydroelectric power, all in Caribou, Maine
          -    4.2 MW of diesel power at Flo's Inn Generating Station in
               Presque Isle, Maine
          -    a dismantled diesel unit at Houlton Generating Station in
               Houlton, Maine
          -    a 3.3455% interest, equal to 20.7 MW, in the Wyman Unit
               No. 4 oil-fired conventional thermal plant in Yarmouth,
               Maine
          -    rights to 18.1 MW under the Power Purchase Agreement with
               the Wheelabrator-Sherman Energy Company, a wood-burning
               cogenerator, located in Sherman Mills, Maine

          The Company has also offered for sale the property of its
          wholly-owned Canadian subsidiary, The Maine and New Brunswick
          Electrical Power Company, Limited.  The subsidiary's principal
          asset is the 34.5 MW Tinker Station, consisting of 33.5 MW of
          hydroelectric power and 1 MW of diesel power, located in
          Aroostook Junction, New Brunswick.  The Company is offering to
          sell the subsidiary or its assets under one of three options:

          (a)  Purchase of the entire stock ownership of the Subsidiary,
               which will transfer title to all the Subsidiary's assets;

          (b)  Purchase of only the Subsidiary's generating assets; and

          (c)  Purchase of only the right to the output of the
               Subsidiary's generating assets, with title to the assets
               remaining with the Subsidiary.








                                   -3-

Current Report, Form 8-K for                            Date of Report
Maine Public Service Company                         September 4, 1997

          This plan must be approved by the Maine Public Utilities
          Commission (MPUC) after hearing.  The Company intends to file
          its petition for approval with the MPUC early in September. 
          It cannot predict the timing or the nature of the MPUC's final
          decision in this matter.  Moreover, sale of any generating
          assets located in the Province of New Brunswick, Canada, to
          any entity other than the New Brunswick Power Corporation
          requires the approval of the Provincial government.


                                   MAINE PUBLIC SERVICE COMPANY
                                             Registrant



Dated:  September 4, 1997           /s/ Larry E. LaPlante              
                                   Larry E. LaPlante, Vice President
                                   Finance, Administration and Treasurer
































                                   -4-
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FORM 8-K

                  SECURITIES AND EXCHANGE COMMISSION

                        Washington, D.C.  20549

                            CURRENT REPORT

                Pursuant to Section 13 or 15(d) of the
                    Securities Exchange Act of 1934

                    Date of Report:  September, 1997

                      MAINE PUBLIC SERVICE COMPANY            
        (Exact name of registrant as specified in its charter)

            Maine                   1-3429          01-0113635      
(State, or other jurisdiction    (Commission       (IRS Employer
      of incorporation)          File Number)    Identification No.)

209 State Street, Presque Isle, Maine                 04769  
(Address of principal executive offices)            (Zip Code)

Registrant's Telephone Number, Including Area Code   207-768-5811

Current Report, Form 8-K for                            Date of Report
Maine Public Service Company                         September 4, 1997

Item 5.   Other Material Events - Proposed Disposition of Company's
          Generation and Generation-Related Assets Pursuant to State Law
          Mandating Electric Utility Industry Restructuring

          On May 29, 1997, Governor King signed into law legislation
          entitled "An Act To Restructure The State's Electric Industry"
          (the Act).  Please refer to the Company's Form 10-Q for the
          quarter ended June 30, 1997 for a complete description of the
          Act.  Under the Act, all electric utilities in Maine must
          divest themselves of their generation or generation-related
          assets, located in the United States, by March 1, 2000.

          On August 29, 1997, the Company announced its intent to begin
          the sale of all of its 91.7 MW of hydroelectric and fossil
          fuel generating assets by March 1, 1998 as well as its rights
          under a power purchase agreement for the 18.1 MW output of the
          Wheelabrator-Sherman Energy Company, an independent power
          producer.  The Company's evaluation of the timing of the
          proposed sale identified several advantages to proceeding with
          the divestiture at this time as opposed to waiting until a
          time closer to the statutory deadline.  Among these reasons
          are the high interest in the area's generating assets
          engendered by both the New England Electric System's and
          Central Maine Power Company's recently announced intent to
          sell their assets, the current tight capacity situation in New
          England and the New Brunswick Power Corporation's January 1,
          1998 implementation of an open access transmission tariff.

          On August 29 and September 2, 1997, the Company mailed to over
          300 utilities, businesses, power marketers and generators in
          the United States and Canada a letter briefly identifying the
          assets to be sold and soliciting expressions of interest. 
          Interested bidders will be required to sign a confidentiality
          agreement and will then be furnished with an Offering
          Memorandum that describes in considerable detail the assets
          being sold and the transaction process.  Interested parties
          may also visit and inspect the Company's various facilities
          and review the Company's generating asset-related documents
          and records at the Company's place of business.  According to
          the schedule in this Offering Memorandum, by October 27, 1997,
          all interested bidders must submit a non-binding Statement of
          Qualifications indicating their abilities to operate and
          maintain the assets and to consummate the transfer.  On
          November 10, 1997, the Company will notify short-listed
          bidders to begin their due diligence activities.  Short-listed
          bidders will be selected based on their technical and
          financial qualifications.  On December 8, 1997, binding
          proposals will be due from these bidders.  By March 1, 1998,
          the Company intends to complete negotiations with these
          bidders for the transfer of the assets.  Stone and Webster
          Management Consultants, Inc. is assisting the Company in this
          process.

                                   -2-

Current Report, Form 8-K for                            Date of Report
Maine Public Service Company                         September 4, 1997

          Because of the Company's obligation as sole supplier in its
          service territory until March 1, 2000, the Company's proposed
          sale has an option where bidders can offer to sell to the
          Company the generation through February 29, 2000.  On August
          26, 1997, the Company also issued an RFP for power supply
          through the same period.

          The assets to be sold include:

          -    Millinocket Lake Storage Dam in T-7, R-9, WELS, Maine
          -    1.4 MW of hydroelectric power at Squa Pan Generating
               Station and Storage Dam in Masardis, Maine
          -    30.9 MW Caribou Generating Station, consisting of 23 MW
               of oil-fired steam power, 7 MW of diesel power, and .9 MW
               of hydroelectric power, all in Caribou, Maine
          -    4.2 MW of diesel power at Flo's Inn Generating Station in
               Presque Isle, Maine
          -    a dismantled diesel unit at Houlton Generating Station in
               Houlton, Maine
          -    a 3.3455% interest, equal to 20.7 MW, in the Wyman Unit
               No. 4 oil-fired conventional thermal plant in Yarmouth,
               Maine
          -    rights to 18.1 MW under the Power Purchase Agreement with
               the Wheelabrator-Sherman Energy Company, a wood-burning
               cogenerator, located in Sherman Mills, Maine

          The Company has also offered for sale the property of its
          wholly-owned Canadian subsidiary, The Maine and New Brunswick
          Electrical Power Company, Limited.  The subsidiary's principal
          asset is the 34.5 MW Tinker Station, consisting of 33.5 MW of
          hydroelectric power and 1 MW of diesel power, located in
          Aroostook Junction, New Brunswick.  The Company is offering to
          sell the subsidiary or its assets under one of three options:

          (a)  Purchase of the entire stock ownership of the Subsidiary,
               which will transfer title to all the Subsidiary's assets;

          (b)  Purchase of only the Subsidiary's generating assets; and

          (c)  Purchase of only the right to the output of the
               Subsidiary's generating assets, with title to the assets
               remaining with the Subsidiary.

                                   -3-

Current Report, Form 8-K for                            Date of Report
Maine Public Service Company                         September 4, 1997

          This plan must be approved by the Maine Public Utilities
          Commission (MPUC) after hearing.  The Company intends to file
          its petition for approval with the MPUC early in September. 
          It cannot predict the timing or the nature of the MPUC's final
          decision in this matter.  Moreover, sale of any generating
          assets located in the Province of New Brunswick, Canada, to
          any entity other than the New Brunswick Power Corporation
          requires the approval of the Provincial government.

                                   MAINE PUBLIC SERVICE COMPANY
                                             Registrant

Dated:  September 4, 1997           /s/ Larry E. LaPlante              
                                   Larry E. LaPlante, Vice President
                                   Finance, Administration and Treasurer

                                   -4-