UNITED STATES SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

(Mark One)
 X       QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
---      SECURITIES EXCHANGE ACT OF 1934

                For the quarterly period ended   September 30, 2000
                                                 ------------------
                                       OR

         TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
---      SECURITIES EXCHANGE ACT OF 1934

               For the transition period from            to
                                              ----------    ----------

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


   1-5139           CENTRAL MAINE POWER COMPANY              01-0042740
              83 Edison Drive, Augusta, Maine  04336
                          (207) 623-3521

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2)  has  been  subject  to the  filing
requirements for at least the past 90 days.

                            Yes X No ___

As of November 3, 2000,  the number of shares of Common  Stock  outstanding  was
31,211,471,   all  held  by  CMP  Group,  Inc.,  a  subsidiary  of  Energy  East
Corporation.

<PAGE>

                                Table of Contents

                                                                        Page
                                                                       Number
                                                                       ------

Part I.  Financial Information                                            1

Item 1 - Consolidated Financial Statements                                1

Item 2 - Management's Discussion and Analysis of Financial
Condition and Results of Operations                                       7

          (a)   Liquidity and Capital Resources                           7

          (b)   Results of Operations                                    11

Item 3 - Quantitative and Qualitative Disclosures About Market Risk      13

Part II.  Other Information                                              14

Item 1 - Legal Proceedings                                               14

Item 6 - Exhibits and Reports on Form 8-K                                14

Signatures                                                               15

<PAGE>


                         PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements
<TABLE>
<S>                                                                          <C>            <C>              <C>
                  Central Maine Power Company and Subsidiaries
                       Consolidated Statement Of Earnings
                                   (Unaudited)
                (Dollars in thousands, except per-share amounts)

                                                                                                 Predecessor
                                                                                        -----------------------------
                                                                        Period From      Period From
                                                                        Acquisition     July 1, 2000     Three Months
                                                                          Date to          Through          Ended
                                                                       September 30,     Acquisition    September 30,
                                                                           2000             Date            1999
                                                                       -------------     ------------   -------------
Revenues
     Electric operating revenues                                             $64,865        $155,031         $238,887
     Other revenues                                                               55              90             (408)
                                                                              ------         -------          -------
        Total Revenues                                                        64,920         155,121          238,479
                                                                              ------         -------          -------

Operating Expenses
     Fuel used for company generation                                             87             179              281
     Purchased power
        Energy                                                                26,288          79,334          107,667
        Other (capacity)                                                       8,280          14,712           28,766
     Other operation                                                          14,175          44,723           48,251
     Maintenance                                                               2,478           6,318            7,096
     Depreciation and amortization                                             3,435           5,168           11,706
     Taxes other than income taxes                                             1,725           3,052            5,021
                                                                              ------         -------          -------
        Total Operating Expenses                                              56,468         153,486          208,788
                                                                              ------         -------          -------

Operating Income (Loss)                                                        8,452           1,635           29,691
                                                                              ------         -------          -------

Other Income (Expense)
     Equity in earnings of associated companies                                  905             436              368
     Allowance for equity funds used during construction                          25              61              172
     Interest income                                                             395           2,505            4,197
     Recovery of non provided deferred income taxes on asset sale                274             781                -
     Other, net                                                                  (47)           (571)            (187)
     Minority interest in consolidated net income                                (38)            (48)              (6)
     Gain on sale of investments and properties                                   (1)             -                27
                                                                              ------         --------         -------
        Total Other Income (Expense)                                           1,513           3,164            4,571
                                                                              ------         --------         -------

Interest Charges
     Long-term debt                                                            1,715           2,753            4,324
     Other interest                                                              520           1,371            7,250
     Allowance for borrowed funds used during construction                        (6)            (13)             (46)
                                                                              ------         -------          -------
        Total Interest Charges                                                 2,229           4,111           11,528
                                                                              ------         -------          -------

Income Before Income Taxes                                                     7,736             688           22,734
     Income taxes                                                              3,430            (965)           9,806
                                                                              ------         -------          -------
Net Income                                                                     4,306           1,653           12,928
     Dividends on Preferred Stock                                                186             372              918
                                                                              ------         -------          -------
Earnings Applicable to Common  Stock                                         $ 4,120        $  1,281         $ 12,010
                                                                              ======         =======          =======

Weighted Average Number Of Shares Of Common
     Stock Outstanding                                                    31,211,471      31,211,471       31,211,471

Earnings Per Share Of Common Stock - Basic and Diluted                          $.13            $.04             $.38

The accompanying notes are an integral part of these financial statements.

</TABLE>

<PAGE>

<TABLE>
<S>                                                                          <C>            <C>              <C>
                  Central Maine Power Company and Subsidiaries
                       Consolidated Statement Of Earnings
                                   (Unaudited)
                (Dollars in thousands, except per-share amounts)

                                                                                                Predecessor
                                                                                        -----------------------------
                                                                        Period From      Period From
                                                                        Acquisition      January 1,      Nine Months
                                                                          Date to       2000 Through        Ended
                                                                       September 30,     Acquisition    September 30,
                                                                           2000             Date            1999
                                                                       -------------    -------------   -------------
Revenues
     Electric operating revenues                                             $64,865        $613,041         $724,194
     Other revenues                                                               55             434              702
                                                                              ------         -------          -------
        Total Revenues                                                        64,920         613,475          724,896
                                                                              ------         -------          -------

Operating Expenses
     Fuel used for company generation                                             87             728           10,488
     Purchased power
        Energy                                                                26,288         278,577          290,984
        Other (capacity)                                                       8,280          71,807           82,754
     Other operation                                                          14,175         151,245          151,618
     Maintenance                                                               2,478          24,468           23,135
     Depreciation and amortization                                             3,435          23,661           37,912
     Taxes other than income taxes                                             1,725          12,961           17,117
                                                                              ------         -------          -------
        Total Operating Expenses                                              56,468         563,447          614,008
                                                                              ------         -------          -------

Operating Income                                                               8,452          50,028          110,888
                                                                              ------         -------          -------

Other Income (Expense)
     Equity in earnings of associated companies                                  905           2,816            4,051
     Allowance for equity funds used during construction                          25             391              479
     Interest income                                                             395           6,532           12,440
     Recovery of non provided deferred income taxes on asset sale                274          75,421                -
     Other, net                                                                  (47)          3,245           (1,631)
     Minority interest in consolidated net income                                (38)           (172)            (700)
     Gain on sale of investments and properties                                   (1)            223            7,061
                                                                              ------         -------          -------
        Total Other Income (Expense)                                           1,513          88,456           21,700
                                                                              ------         -------          -------

Interest Charges
     Long-term debt                                                            1,715           9,534           22,362
     Other interest                                                              520          21,616           20,416
     Allowance for borrowed funds used during construction                        (6)            (78)            (260)
                                                                              ------         -------          -------
        Total Interest Charges                                                 2,229          31,072           42,518
                                                                              ------         -------          -------

Income Before Income Taxes                                                     7,736         107,412           90,070
     Income taxes                                                              3,430          77,534           36,241
                                                                              ------         -------          -------
Net Income                                                                     4,306          29,878           53,829
     Dividends on Preferred Stock                                                186           1,490            2,756
                                                                              ------         -------          -------
Earnings Applicable to Common Stock                                          $ 4,120        $ 28,388         $ 51,073
                                                                              ======         =======          =======

Weighted Average Number Of Shares Of Common
     Stock Outstanding                                                    31,211,471      31,211,471       31,211,471

Earnings Per Share Of Common Stock (Basic and Diluted)                          $.13            $.91            $1.64

The accompanying notes are an integral part of these financial statements

</TABLE>

<PAGE>

<TABLE>
<S>                                                                              <C>                  <C>
                  Central Maine Power Company and Subsidiaries
                           Consolidated Balance Sheet
                                   (Unaudited)
                             (Dollars in thousands)

                                                                                                   Predecessor
                                                                                                ----------------
                                                                               September 30,        December 31,
                                                                                   2000                 1999
                                                                               -------------    ----------------
Assets
    Current Assets
       Cash                                                                      $      699           $      862
       Special deposits                                                                   1                    1
       Temporary investments                                                          7,000              112,010
       Accounts receivable, net                                                     114,486              157,210
       Prepaid income taxes                                                          11,499                1,248
       Fuel                                                                               -                  177
       Materials and supplies                                                         9,778                9,927
       Accumulated deferred income taxes                                              3,689                5,486
       Prepayments and other current assets                                          10,184                7,159
                                                                                  ---------            ---------
          Total Current Assets                                                      157,336              294,080

Utility Plant, at Original Cost
    Electric                                                                      1,376,469            1,337,088
    Less Accumulated depreciation                                                   565,039              550,990
                                                                                  ---------            ---------
      Net Utility Plant in Service                                                  811,430              786,098
    Construction work in progress                                                    19,323               32,357
                                                                                  ---------            ---------
          Total Utility Plant                                                       830,753              818,455

    Other Property                                                                    6,530                7,362
    Investments in Associated Companies, at equity                                   35,545               38,236

Regulatory and Other Assets
    Unamortized investment in abandoned projects, net                                     -               73,052
    Unfunded future federal income taxes                                             81,389              144,430
    Unamortized loss on debt reacquisition                                           12,516               13,758
    Purchase power contracts                                                        240,868              270,311
    Demand-side management program costs                                             11,177               23,583
    Environmental remediation costs                                                   8,488                9,828
    Other                                                                           121,714              231,328
                                                                                  ---------            ---------
          Total Regulatory Assets                                                   476,152              766,290

    Goodwill, net                                                                   307,117                    -
    Prepaid pension benefit                                                          31,979                    -
    Other                                                                            18,663               22,334
                                                                                  ---------            ---------
          Total Other Assets                                                        357,759               22,334

          Total Regulatory and Other Assets                                         833,911              788,624
                                                                                  ---------            ---------

Total Assets                                                                     $1,864,075           $1,946,757
                                                                                  =========            =========

The accompanying notes are an integral part of these financial statements.

</TABLE>

<PAGE>

<TABLE>
<S>                                                                               <C>                 <C>
                  Central Maine Power Company and Subsidiaries
                           Consolidated Balance Sheet
                                   (Unaudited)
                             (Dollars in thousands)

                                                                                                     Predecessor
                                                                                                    -------------
                                                                                September 30,        December 31,
                                                                                    2000                1999
                                                                                -------------        ------------
Liabilities
    Current Liabilities
       Current portion of long-term debt                                          $   30,556          $   70,754
       Notes payable                                                                       -               1,183
       Accounts payable and accrued liabilities                                       62,579             107,712
       Interest accrued                                                                3,537               2,679
       Other                                                                          58,240              15,045
                                                                                   ---------           ---------
          Total Current Liabilities                                                  154,912             197,373

    Regulatory and Other Liabilities
    Regulatory Liabilities
       Deferred income taxes                                                          16,955              22,267
       Deferred income taxes, unfunded future
        federal income taxes                                                          33,243              58,934
       Asset sale deferred gain                                                      238,176             536,368
       Other                                                                         108,874              41,052
                                                                                   ---------           ---------
          Total Regulatory Liabilities                                               397,248             658,621

    Other Liabilities
       Deferred income taxes                                                          17,210               2,002
       Purchased power contract                                                      240,868             270,311
       Other Postretirement benefits                                                  69,299              62,032
       Environmental remediation costs                                                 3,587               2,698
       Other                                                                          95,467              76,378
                                                                                   ---------           ---------
          Total Other Liabilities                                                    426,431             413,421

       Long-Term Debt                                                                253,013             120,186
                                                                                   ---------           ---------
          Total Liabilities                                                        1,231,604           1,389,601

    Redeemable Preferred Stock                                                           910                 910

    Capitalization
       Common stock                                                                  162,213             162,213
       Other paid in capital                                                         452,038             280,450
       Other paid in capital preferred stock                                          (3,552)             (3,742)
       Reacquired capital stock                                                      (19,000)            (19,000)
       Retained earnings                                                               4,291             100,754
       Preferred stock                                                                35,571              35,571
                                                                                   ---------           ---------
          Total Stockholders' Equity                                                 631,561             556,246

Total Liabilities and Stockholders' Equity                                        $1,864,075          $1,946,757
                                                                                   =========           =========

The accompanying notes are an integral part of these financial statements.

</TABLE>

<PAGE>

<TABLE>
<S>                                                                      <C>             <C>            <C>
                  Central Maine Power Company and Subsidiaries
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                                   (Unaudited)
                             (Dollars in thousands)

                                                                                               Predecessor
                                                                                       ---------------------------
                                                                       Period From     Period From
                                                                       Acquisition     January 1,     Nine Months
                                                                         Date to      2000 Through       Ended
                                                                      September 30,    Acquisition   September 30,
                                                                          2000            Date           1999
                                                                      ------------    ------------   -------------
Operating Activities
    Net income                                                           $  4,306        $ 29,878       $ 53,829

Adjustments to reconcile net income to net cash provided by
operating activities
    Depreciation                                                            2,933          22,594         29,697
    Amortization                                                              763           7,528         29,558
    FIT & ITC deferred, net                                                 1,500         (10,125)        (8,310)
    Allowance for equity funds used during construction                       (25)           (391)          (479)

    Accounts receivable                                                        82          28,987         21,340
    Inventory                                                                 (78)            404            727
    Prepayments and other current assets                                   (2,411)         (1,567)        (3,032)
    Accounts payable and accrued liabilities                              (29,084)          3,471        (12,705)
    Taxes accrued                                                           2,023         (12,275)         7,807
    Interest Accrued                                                          (53)            913         (5,322)
    Other, net                                                             (2,658)          7,164        (10,666)
                                                                          -------         -------        -------
          Net cash provided by (used in) operating activities             (22,702)         76,581        102,444
                                                                          -------         -------        -------

Investing Activities
    Utility plant additions, net                                           (4,552)        (58,366)       (41,043)
    Contributions in aid of construction                                      930          35,082              -
    Central Maine sale of assets                                                -               -        850,987
    Tax payments related to sale of assets                                      -               -       (234,409)
    Selling expense for sale of generation assets                               -               -        (17,778)
    Other property and investments                                              -               -          7,813
                                                                          -------         -------        -------
          Net cash provided by (used in) investing activities              (3,622)        (23,284)       565,570
                                                                          -------         -------        -------

Financing Activities
    Repayments of preferred stock
     and first mortgage bonds, net of premiums                                  -               -       (118,717)
    Long-term notes, net                                                   29,763          63,040       (334,668)
    Dividends:
       Common stock                                                      (190,000)        (33,724)       (29,506)
       Preferred stock                                                        -            (1,225)        (1,837)
                                                                          -------         -------        -------
          Net cash provided (used) by financing activities               (160,237)         28,091       (484,728)
                                                                          -------         -------        -------

Net increase (decrease) in cash and temporary investments                (186,561)         81,388        183,286
Cash and temporary investments, beginning of period                       194,260         112,872         22,628
                                                                          -------         -------        -------
Cash and temporary investments, end of period                            $  7,699        $194,260       $205,914
                                                                          =======         =======        =======

Cash paid during the year for:
       Interest, net of amounts capitalized                              $  2,099        $ 10,316       $ 32,648
       Income taxes                                                      $     50        $ 24,552       $273,700

The accompanying notes are an integral part of these financial statements

</TABLE>

<PAGE>


Item 1.  Financial Statements (Cont'd)
-------------------------------------

Note 1. Unaudited Consolidated Financial Statements
---------------------------------------------------

The  accompanying   unaudited  consolidated  financial  statements  reflect  all
adjustments  which are  necessary,  in the  opinion  of  management,  for a fair
presentation  of Central  Maine Power  Company's  (the  "Company")  consolidated
results for the interim periods.

The  Company's  consolidated  financial  statements  include the accounts of the
Company  and its  wholly  owned and  controlled  subsidiaries.  All  non-utility
operating  transactions are included in other revenues and operating expenses in
the Company's Consolidated Statement of Income.

All of the  common  stock  of the  Company  is owned by CMP  Group,  Inc.  ("CMP
Group"), which was organized effective September 1, 1998. Effective September 1,
2000 CMP Group, became a wholly owned subsidiary of Energy East Corporation. The
acquisition  by  Energy  East  Corporation  was  accounted  for  as  a  purchase
transaction and purchase accounting  adjustments,  including goodwill, have been
reflected in the financial  statements of the Company and its  subsidiaries  for
the periods  subsequent to September 1, 2000.  The financial  statements for the
Company for the  periods  prior to  September  1, 2000 were  prepared  using the
Company's  historical  basis of accounting and are designated as  "predecessor".
The  comparability  of  operating  results for the  predecessor  and the periods
encompassing  push-down  accounting  are  affected  by the  purchase  accounting
adjustments,  including  the  amortization  of  goodwill  over a period of forty
years.

The fair value of assets and  liabilities  of the  Company is  considered  to be
equivalent to the historical basis of accounting, and accordingly, no adjustment
has been made to the carrying  value.  The excess  consideration  paid by Energy
East   Corporation   attributable   to  the  Company  at  the  merger  date  was
approximately $308 million and is reflected as goodwill in the Company's balance
sheet at September 30, 2000. The process of determining fair value of assets and
liabilities  at the merger date is  continuing,  and the final results await the
resolution of income tax and other  contingencies  and  finalization  of certain
preliminary  estimates.  The following table summarizes the preliminary  changes
made to the  accounts  of the  Company  as of  September  1, 2000 as a result of
applying push-down accounting.

                                                           Purchase Accounting
                                                                Adjustments
                                                          (Dollars in Thousands)
                                                           --------------------
          Investments                                           $31,943
          Goodwill                                              307,720
          Regulatory assets                                      29,043
          Other assets                                            1,552
                                                                -------
          Total Assets                                         $370,258
                                                                =======

          Current liabilities                                   $27,451
          Long-term debt
          Deferred income taxes                                (17,404)
          Pension and other postretirement benefits               6,825
          Regulatory liabilities                                 80,068
          Other liabilities                                       6,805
          Common stock investment                               266,513
                                                                -------
          Total Liabilities & Common Stock Investment          $370,258
                                                                =======

Reclassification  - Certain amounts from prior years' financial  statements have
been reclassified to conform to the current year's presentation.

Impact of New Accounting  Standards - The Financial  Accounting  Standards Board
(FASB) issued Statement of Financial  Accounting  Standards No. 133,  Accounting
for  Derivative  Instruments  and  Hedging  Activities,  in June 1998,  No. 137,
Accounting for Derivative  Instruments and Hedging  Activities - Deferral of the
Effective Date of FASB Statement No. 133, in June 1999, and No. 138,  Accounting
for Certain Derivative Instruments and Certain Hedging Activities - an amendment
of FASB Statement No. 133, in June 2000. Statement No. 133 establishes standards
for the  accounting  and reporting for  derivative  instruments  and for hedging
activities.  Statement  No. 133 requires that all  derivatives  be recognized as
either assets or liabilities  on a company's  balance sheet at their fair value.
Statement  No. 137  delayed  for one year the  effective  date for  implementing
Statement No. 133, to fiscal years beginning after June 15, 2000.  Statement No.
138 provided guidance on how to interpret sections of Statement No. 133.

The Company will adopt Statement No. 133 as of January 1, 2001. If Statement No.
133 were adopted on October 1, 2000, the estimated  transition  adjustment as of
September 30, 2000 would be zero and the effect on earnings would be zero.

Item 2: Management's  Discussion and Analysis of Financial Condition and Results
--------------------------------------------------------------------------------
of Operations
-------------

(a) Liquidity and Capital Resources

Rate Matters
------------

Maine Yankee  Shutdown - See the Company's  Form 10-Q for the quarter ended June
30, 2000, Item 2, Commitment and Contingencies, FERC Rate Case.

In September 2000, the Maine Public Utilities  Commission ("MPUC") staff advised
the Company  that it could not use the  two-year  entitlement  auction  price to
satisfy the  replacement  power test required as part of the settlement of Maine
Yankee for 2001.  If the Company is required to use a current  wholesale  market
index for energy  purchases as a benchmark for the  replacement  power test, the
Company  would be liable  for the  entire  $31.2  million  for the 2001 test and
expects it would remain  above the  threshold  replacement  power tests based on
current and projected energy prices for the years 2002 through 2004. The Company
will  continue its efforts to mitigate  this  liability.  The liability of $31.2
million was recognized in the purchase  accounting  entries  associated with the
merger with Energy East with an offset to Goodwill and Deferred Income Taxes.

Termination of Decommissioning  Operations Contract - See the Company's Form 10Q
for the quarter ended June 30, 2000,  Item 2,  Commitments  and  Contingencies -
Termination of Decommissioning Operations Contract.

On  June  30,  2000,  Federal  Insurance  Company  ("Federal"),  which  provided
performance and payment bonds in the amount of approximately  $37.6 million each
in connection with the decommissioning  operations  contract,  filed a Complaint
for Declaratory  Judgment  against Maine Yankee in the United States  Bankruptcy
Court for the District of Delaware,  which was  subsequently  transferred to the
United States District Court in Maine. The Complaint,  which seeks a declaration
that Federal has no obligation to pay Maine Yankee under the bonds, alleges that
Maine Yankee improperly terminated the decommissioning  operations contract with
Stone & Webster and failed to give proper notice of the  termination  to Federal
under the contract,  and that Federal therefore had no further obligations under
the bonds.  Maine Yankee has filed both a  counterclaim  against  Federal in the
District  Court  seeking  recovery up to the penalty  amounts of the bonds and a
proof of claim against Stone & Webster in the Bankruptcy  Court seeking recovery
of all additional  costs  resulting from the  termination of the Stone & Webster
contract.  Maine Yankee  believes that its  termination  of the  decommissioning
operations   contract  was  proper,  but  cannot  predict  the  outcome  of  the
litigation.

Maine Yankee is evaluating all available  long-term  alternatives for safely and
efficiently  completing  the  decommissioning  of the Plant site,  including the
possibilities of contracting with a new decommissioning operations contractor or
assuming  that function  itself on a long-term  basis.  Maine Yankee  expects to
complete its review of proposals  from  prospective  successor  contractors  and
select a new contractor,  if that is the alternative  chosen,  by the end of the
year.  However,  we cannot  predict  at this point  what  effect  the  financial
difficulties  of Stone &  Webster  and the  termination  of its  decommissioning
operations  contract  with Maine Yankee will have on the cost or schedule of the
decommissioning project.

Alternative  Rate Plan - See the Company's  Form 10-Q for the quarter ended June
30, 2000, Item 3, Regulatory Matters and  Electric-Utility  Restructuring,  MPUC
Proceeding on Stranded Costs, Revenue Requirements, and Rate Design.

On  September  18,  2000,  the  MPUC  voted to  approve  the  Company's  revised
Alternative  Rate Plan (ARP 2000). ARP 2000 provides the vehicle for the Company
and Energy East to share merger synergies with the Company's  customers.  Merger
synergies have been estimated to be $25-$30 million per year.

ARP 2000 applies only to the Company's State jurisdictional distribution revenue
requirement  and excludes  revenue  requirements  related to stranded  costs and
transmission  prices.   Recovery  of  stranded  costs,   primarily   over-market
non-utility   generator   contracts,   has  been   provided  for  under  Maine's
restructuring law. Transmission prices are subject to regulation by the FERC and
are  expected to change each July.  ARP 2000 is effective  January 1, 2001,  and
continues  through December 31, 2007, with price changes,  if any,  occurring on
July 1, in the years 2002 through 2007.

Price changes will be calculated  by taking the prior year's  inflation  rate as
determined by the gross domestic  product  ("GDP") price index and subtracting a
"productivity  offset." The  productivity  offset for the years of the plan vary
between 2.0 percent in 2002 and 2.9 percent in 2007. The productivity offset for
2001  will be  equal to the GDP  price  index.  In  addition,  certain  expiring
amortizations will flow through to customers via the annual price adjustments.

Mandated   costs  outside  of  the  Company's   control  that  exceed   $150,000
individually  and exceed $3 million in aggregate  in any  calendar  year will be
recovered   through  the  annual  price   adjustment.   Mandated  costs  include
nonrecurring events such as storms, floods and labor disturbances, and recurring
costs that result from accounting,  federal or state legislative,  regulatory or
tax changes.

The  Company is  required  to meet  certain  standards  of service  quality  and
reliability. These standards include: 1) customer average interruption duration,
2) system  average  interruption,  3) MPUC  complaint  ratio,  4)  percentage of
business calls answered,  5) percentage of outage calls answered, 6) new service
installations,  7) call center service  quality,  and 8) market  responsiveness.
Price  changes  could be reduced by as much as $3.6 million  annually if all are
not met.

Beginning in July 2002,  the price change will include 50 percent of any revenue
deficiency  should the Company's  return on equity fall below 5.2 percent in the
prior calendar year. There is no earnings cap during the term of ARP 2000, which
will give the Company the  opportunity to utilize  synergies to offset  goodwill
amortization during the term of ARP 2000.

The Company filed and, on September  28, 2000 FERC  approved,  new  transmission
rates that were effective September 1, 2000. The new transmission rates increase
revenue requirements by approximately $10 million, with approximately $5 million
of the proposed  increase  associated with the incremental costs of transmission
congestion in New England. These federally mandated charges include the costs of
upgrading  transmission  circuits to accommodate  merchant power plants, and are
being assessed on all New England utilities.  The remainder of the rate increase
reflects updated  transmission costs based on 1999 activity versus the 1996 test
period  used  previously.  FERC  also  approved  a  deferral  mechanism  for the
difference  between network  congestion  costs incurred since March 1, 2000, and
the amount  included  in the rates.  The  deferrals  will be recorded as imputed
revenues with an offset to a regulatory asset. In September the Company recorded
$6.2 million in such revenues.  The  regulatory  asset will be reduced in future
periods in the next tariff year,  when the costs will be reflected in the tariff
charges.

Sale of Generation  Assets - See the  Company's  Form 10-Q for the quarter ended
June 30, 2000, Item 3, Regulatory  Matters and  Electric-Utility  Restructuring,
Sale of Generation Assets.

On August 7, 2000, the owners of Millstone Unit 3, including Central Maine Power
Company,  entered into  agreements to sell the unit with the other two Millstone
units, to Dominion  Resources,  Inc., in an auction of those units supervised by
the Connecticut  DPUC.  Completion of the sale,  which is expected in 2001 after
regulatory  approvals are obtained and other  customary  closing  conditions are
satisfied,  will have no significant  effect on the Company,  since the sale was
anticipated  in the terms of the  settlement of the Company's  Millstone-related
arbitration  and  litigation   claims  against   Northeast   Utilities  and  its
affiliates.

Investing and Financing Activities
----------------------------------

Approximately  $59.0  million of cash was provided  during the nine months ended
September  30,  2000,  from  net  income  before   non-cash   items,   primarily
depreciation, amortization and deferred income taxes.

The Company  received  $36.0  million in deposits from  customers  primarily for
construction  expenditures associated with anticipated merchant generating plant
activity.  On  June  28,  2000  FERC  issued  an  order  regarding  the  funding
responsibility  for  transmission  network  upgrades to  accommodate  the direct
interconnection  with new merchant plants. The Company has required the merchant
plant  developers to fund all  interconnection  and network upgrades in advance.
Based on FERC's latest ruling, certain generation projects entered into prior to
October  29,  1998 would  require a 50 percent  sharing of  interconnection  and
upgrade costs between the developer and the utility. Certain generation projects
entered  into after  October  29,  1998 but before June 22, 1999 would limit the
utility's funding responsibility to a maximum of $2 million based on at least $5
million in total  interconnection  and  upgrade  costs.  In all other  cases the
developer  would be  responsible  for 100  percent  of the  interconnection  and
upgrade  costs.  Based on this  ruling,  the  Company  will  have to  refund  to
developers  between  $18 to $30  million  over the next two years.  Any  amounts
refunded to developers  will be capitalized on the Company's books and recovered
through the regional or local open access tariff, as appropriate.

The Company is also engaged in a continuing  construction program to accommodate
existing  and  future  load on its  electric  system.  The  Company's  plans for
improvements and expansions, its load forecasts and its power-supply sources are
under a process of continuing review.  Actual  construction  expenditures depend
upon the availability of capital and other resources,  load forecasts,  customer
growth,  the number of merchant plants  constructed in the Company's  territory,
and general  business  conditions.  The ultimate nature regarding the timing and
amount of financing for the Company's  total  construction  programs,  including
refinancing and energy-management  capital  requirements,  will be determined in
light of market conditions, earnings and other relevant factors.

As a result of the merger on September 1, retained  earnings of the Company were
reset to zero and  moved to other  paid-in  capital  as  required  by  Generally
Accepted  Accounting  Principles.  On September 5, 2000, the Company's  Board of
Directors  declared and paid a liquidating  dividend  amounting to $190 million,
reducing other paid-in capital. This rebalancing of the capital structure aligns
the Company's  capital  structure with that assumed by the MPUC in  establishing
the Company's  current tariff charges and was facilitated with the proceeds from
the Company's sale of generation assets in 1999.

As of  September  30,  2000,  the  Company  had $30  million  in loans that were
outstanding under its revolving credit facility.

Forward-Looking Statements
--------------------------

This Form 10-Q contains  certain  forward-looking  statements  that are based on
management's  current  expectations and information that is currently available.
The Private Securities  Litigation Reform Act of 1995 provides a safe harbor for
forward-looking  statements  in  certain  circumstances.  Whenever  used in this
report,  the words  "estimate,"  "expect,"  "believe,"  "anticipate," or similar
expressions are intended to identify such forward-looking statements.

In addition to the  assumptions  and other factors  referred to  specifically in
connection  with such  statements,  factors that could cause  actual  results to
differ  materially  from those  contemplated in any  forward-looking  statements
include,  among others, the deregulation and unbundling of energy services;  the
company's   ability  to  compete  in  the  rapidly   changing  and  increasingly
competitive  electricity  utility  markets;  its ability to control  non-utility
generator  and other  costs;  changes in fuel supply cost and the success of its
strategies to satisfy its power requirements; its ability to expand its products
and services,  including its energy  infrastructure  in Maine;  market risk; the
ability to obtain  adequate  and timely rate  relief;  nuclear or  environmental
incidents;  legal  or  administrative  proceedings;   changes  in  the  cost  or
availability  of  capital;  growth in the  areas in which it is doing  business;
weather variations affecting customer outages; and other considerations that may
be  disclosed  from  time to time in its  publicly  disseminated  documents  and
filings.   The  Company   undertakes  no  obligation  to  publicly   update  any
forward-looking  statements,  whether  as a result  of new  information,  future
events or otherwise.

(b) Results of Operations

Effective September 1, 2000 CMP Group became a wholly owned subsidiary of Energy
East  Corporation.  The acquisition by Energy East Corporation was accounted for
as  a  purchase  transaction  and  purchase  accounting  adjustments,  including
goodwill, have been reflected in the financial statements of the Company for the
periods  subsequent to September 1, 2000.  The financial  statements for Central
Maine Power  Company for the periods  prior to September  1, 2000 were  prepared
using  the  Company's  historical  basis of  accounting  and are  designated  as
"predecessor".  The  comparability of operating  results for the predecessor and
the periods  encompassing  push-down  accounting  are  affected by the  purchase
accounting  adjustments  including the amortization of goodwill over a period of
forty years.

                                            Three Months Ended September 30,
                                         ------------------------------------
                                         2000             1999         Change
                                         ----             ----         ------

                                          (Thousands, except per share amounts)

Operating Income                        $10,087         $29,691         (66%)

Net Income                                5,959          12,928         (54%)

Earnings Applicable to Common Stock       5,401          12,010         (55%)

Average Common Shares Outstanding        31,211          31,211           0

Earnings Per Share, basic and diluted      .17             .38          (55%)

Net income  decreased $7.0 million  between the quarter ended September 2000 and
the same  period  in 1999 due to  one-time  merger  related  costs  and  ongoing
restructuring   impacts.   The  third  quarter  year  2000  results   include  a
nonrecurring charge associated with merger related costs that reduced net income
for the quarter by  approximately  $3.7  million.  Net income was also  impacted
negatively by approximately $3.7 million due to the elimination of contributions
from the  generation  portion of the business  which was sold in 1999. The third
quarter also  included a $1.1 million  increase in net income due to a September
2000 FERC decision  allowing  reconciliation  of congestion costs incurred after
March 1, 2000.

                                            Nine Months Ended September 30,
                                           -------------------------------
                                           2000          1999        Change
                                           ----          ----        ------

                                        (Thousands, except per share amounts)

Operating Income                         $58,480       $110,888        (47%)

Net Income                                34,184         53,829        (36%)

Earnings Applicable to Common Stock       32,508         51,073        (36%)

Average Common Shares Outstanding         31,211         31,211          -

Earnings Per Share, basic and diluted       1.04           1.64        (37%)

Net income for the nine months ended  September  30, 2000 is $19.6 million lower
than  the same  period  in 1999.  One  major  reason  for this  decrease  is the
elimination of the  contribution  associated with the generation  portion of the
business that was reflected in the Company's  restructured  revenue  requirement
effective  March 1, 2000.  This  accounted  for  approximately  an $8.8  million
decrease in net income for the year 2000 period compared to 1999. A second major
reason is that the year 2000 period included  nonrecurring  merger related costs
that reduced net income by approximately  $3.7 million compared to 1999. Network
congestion  costs exceeded  revenues for the period  reducing net income by $1.7
million.  On a going forward basis congestion costs will not cause any variation
in net income due to a September  2000 FERC order that permits an  imputation of
revenues to match  congestion  costs incurred until the costs can be included in
tariff rates. Also,  approximately $4.0 million of the decrease in net income is
associated with the one-time sale of right of way easements in 1999.

Operating Revenues, Expenses and Associated Volumes

                                    Three Months Ended September 30,
                                    --------------------------------
                                              (Thousands)

                                2000              1999             Change
                                ----              ----             ------
        Retail Deliveries
            Megawatt-hours      2,403.9           2,420.9            (1)%

        Operating Revenues     $220,041          $238,479            (8)%

        Operating Expenses     $209,954          $208,788             1%

Effective  March 1, 2000,  the  revenue  requirement  was lowered to reflect the
elimination  of  generation  assets,  resulting in a $18.4  million  decrease in
operating  revenues as compared to 1999.  Operating expenses have increased $1.2
million due to a  nonrecurring  merger charge of $6.2 million and a $5.5 million
expense  related to ISO and  congestion  uplift  charges.  These  increases were
partially offset by decreases in operating expenses  associated with the sale of
generation assets and termination of some NUG contract costs.

                                      Nine Months Ended September 30,
                                      -------------------------------
                                                (Thousands)

                                   2000              1999             Change
                                   ----              ----             ------
        Retail Deliveries
            Megawatt-hours        7,072.3           6,892.5             3%

        Operating Revenues       $678,395          $724,896            (6)%

        Operating Expenses       $619,915          $614,008             1%

As stated above,  the decrease in revenue  requirement  has contributed to $46.5
million less in revenues  than 1999.  Overall  expenses for 2000 have been lower
due to the sale of generation  assets,  but the one time charges mentioned above
have  contributed  to an increase of $5.9 million in operating  expenses year to
date as compared to 1999.

Item 3: Quantitative and Qualitative Disclosures About Market Risk
------------------------------------------------------------------

The Company is exposed to interest  rate risk  through the use of  variable-rate
debt as a source of capital.  As of  September  30,  2000,  the Company had $135
million of medium-term  notes  outstanding,  $10 million of which bear floating,
LIBOR-based  rates,  and $30 million in loans  outstanding  under its  revolving
credit  facility  and $22.5  million in  capital  lease  obligations  which have
variable interest rates.

                                                      Variable Long Term
                                                      ------------------
                                                    (dollars in thousands)

              Weighted Average Rates                          9.19%

              Balance at September 30, 2000                 $62,516

              Maturity Period                             2001 - 2019

<PAGE>

                           PART II - OTHER INFORMATION

Item 1. Legal Proceedings
-------------------------

Maine  Yankee - For a  discussion  of the  termination  by Maine  Yankee  of its
decommissioning operations contract with Stone & Webster and related litigation,
see  Note  2  "Rate  Matters  -  Maine  Yankee  Shutdown"  and  "Termination  of
Decommissioning Operations Contract," which is incorporated herein by reference.

Item 6. Exhibits and Reports on Form 8-K
----------------------------------------

(a)  Exhibits. None.
(b)  Reports on Form 8-K.  The Company filed no reports on Form 8-K during the
     quarter ended September 30, 2000.

<PAGE>

                                   Signatures

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.

                                    CENTRAL MAINE POWER COMPANY



Date:  November 9, 2000         By  /s/ Michael W. Caron
                                    -------------------------------------------
                                    Michael W. Caron, Comptroller (Chief
                                    Accounting Officer and duly authorized
                                    officer)