Exhibit 99-1

                                    FORM 11-K

             FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS
               AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

(Mark One)
[X]   ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934 [FEE REQUIRED]

For the fiscal years ended                                 December 31, 1997

[  ]  TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES
      EXCHANGE ACT OF 1934 [ NO FEE REQUIRED]

For the transition period from                to

Commission file number

A.    Full title of the plan and the address of the plan, if different from that
      of the issuer named below:

                           CENTRAL MAINE POWER COMPANY
                      EMPLOYEE SAVINGS AND INVESTMENT PLAN
                             FOR NON-UNION EMPLOYEES

B.    Name of issuer of the securities held pursuant to the plan and the address
      of its principal executive office:

                           CENTRAL MAINE POWER COMPANY
                                 83 EDISON DRIVE
                              AUGUSTA, MAINE 04336


<PAGE>


                                                     Central Maine Power Company
                                                           Form 11-K - Year 1997

                           Central Maine Power Company
                      Employee Savings and Investment Plan

                             For Non-Union Employees

                              REQUIRED INFORMATION


The following financial statements shall be furnished for the plan:

                                                                    Page No.
(a) Financial Statements

    Report of Independent Public Accountants                          F-1

    Statements of Net Asset Available for Benefits                    F-2

    Statement of Changes in Net Assets Available for Benefits       F-3, F-4

    Notes to Financial Statements                               F-5 through F-12

    Supplemental Schedules:
         I   - Item 27a Schedule of Assets Held for Investment  S-1 through S-3
               Purposes at December 31, 1997
        II   - Item 27d Schedule of Reportable Transactions for       S-4
               the Year Ended December 31, 1997

(b) Exhibits

    Consent of Independent Public Accountants                         E-1

    Signature                                                         E-2


<PAGE>









                    REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS


To the Board of Directors of
Central Maine Power Company:

We have audited the accompanying statements of net assets available for benefits
of the Central  Maine Power Company  Employee  Savings and  Investment  Plan for
Non-union  Employees as of December 31, 1997 and 1996, and the related statement
of changes in net assets  available for benefits for the year ended December 31,
1997.  These  financial   statements  are  the   responsibility  of  the  Plan's
management.  Our  responsibility  is to express  an  opinion on these  financial
statements based on our audits.

We  conducted  our  audits  in  accordance  with  generally   accepted  auditing
standards.  Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management,  as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all  material  respects,  the net assets  available  for benefits of the Central
Maine Power Company Employee Savings and Investment Plan for Non-Union Employees
as of December 31, 1997 and 1996,  and the changes in net assets  available  for
benefits for the year ended  December 31, 1997,  in  conformity  with  generally
accepted accounting principles.

Our audits  were  performed  for the  purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets held
for investment  purposes and reportable  transactions are presented for purposes
of  additional  analysis  and are not a  required  part of the  basic  financial
statements  but are  supplementary  information  required by the  Department  of
Labor's Rules and  Regulations  for Reporting and Disclosure  under the Employee
Retirement  Income  Security Act of 1974. The  supplemental  schedules have been
subjected to the auditing procedures applied in the audit of the basic financial
statements and, in our opinion, are fairly stated, in all material respects,  in
relation to the basic financial statements taken as a whole.

                                                     COOPERS & LYBRAND L.L.P.

Portland, Maine
June 12, 1998




<PAGE>


                                                     Central Maine Power Company
                                                           Form 11-K - Year 1997

                           Central Maine Power Company
                      Employee Savings and Investment Plan

                             For Non-Union Employees

                 Statements of Net Assets Available for Benefits



                                                          As of December 31,
                                                        1997             1996

Assets:
   Investments at Fair Value:
      Retirement Government Money Market Portfolio $  3,949,810    $  2,750,941
      Fidelity Balanced Fund .....................    5,733,860       4,061,299
      Fidelity Magellan Fund .....................   16,826,481      11,798,410
      Spartan U.S. Equity Index Fund .............   20,974,999      12,601,965
      Fixed Income Contract Portfolio ............    4,110,837       7,894,044
      Fidelity Intermediate Bond Fund ............      504,919         335,442
      Asset Manager Income Fund ..................      547,520         842,100
      Asset Manager Fund .........................    1,816,880       1,453,144
      Asset Manager Growth Fund ..................    4,044,483       2,247,616
      Central Maine Power Company Stock Fund .....    8,779,974       7,749,641
      Loans Due from Participants ................    1,637,343       1,579,071
                                                      ---------       ---------

         Total Investments .......................   68,927,106      53,313,673

Receivables:
      Dividends on Company Stock .................      120,602         140,405
      Accrued Interest ...........................        5,951            -
                                                          -----         -------
                                                                                
         Total Receivables .......................      126,553         140,405

         Total Assets ............................   69,053,659      53,454,078
                                                     ----------      ----------

Liabilities:
      Accounts payable ...........................     (369,423)           -
                                                       --------      ----------

                                                                               
         Total Liabilities .......................     (369,423)           -
                                                       --------      ----------
                                                                               

Net Assets Available for Benefits                  $ 68,684,236     $53,454,078
                                                   ============     ===========

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


<PAGE>
<TABLE>
<S>                                  <C>             <C>         <C>           <C>                <C>       <C>     <C>         <C>

                                                                 Central Maine Power Company
                                                            Employee Savings and Investment Plan
                                                                   For Non-Union Employees

                                                  Statement of Changes in Net Assets Available for Benefits
                                                            For the Year Ended December 31, 1997

                                       Retirement                                               Fixed
                                       Government     Fidelity     Fidelity    Spartan U.S.     Income     Fidelity
                                      Money Market    Balanced     Magellan    Equity Index    Contract  Intermediate
                                       Portfolio        Fund         Fund          Fund       Portfolio   Bond Fund      Subtotal
Additions:
    Investment Income
      Net Appreciation
        on Fair Market Value         $      -        $ 355,365   $ 2,255,650   $ 4,361,420        $ -       $ 1,229     $ 6,973,664
      Dividend on Company Stock             -             -             -             -             -          -             -
      Interest and Dividends             466,819       693,451     1,046,594       443,427       417,980     24,346       3,092,617
      Interest on Loans                   11,859        11,773        43,328        26,505          (684)     1,441          94,222
    Contributions                                           
      Participants'                      232,408       425,434     1,095,669       954,157             -     38,540       2,746,208
      Employer's                            -             -             -             -             -          -  
    Other                                130,231        58,996       152,603       104,018         7,180     38,146         491,174
                                    -----------------------------------------------------------------------------------------------
         Total Additions                 841,317     1,545,019     4,593,844     5,889,527       424,476    103,702      13,397,885
Deductions:
    Benefits Paid to participants     (1,018,793)     (139,975)     (860,538)     (799,018)     (712,665)    (7,312)     (3,538,301)
    Loan Repayments                       89,633        87,828       268,213       213,601           683      8,335         668,293
    Loan Withdrawals                     (82,614)      (97,925)     (264,707)     (199,796)      (61,976)    (4,957)       (711,975)
    Other                                      -             -             -             -      (116,030)         -        (116,030)
                                    -----------------------------------------------------------------------------------------------
      Net Increase Prior to Transfer    (170,457)    1,394,947     3,736,812     5,104,314      (465,512)    99,768       9,699,872

Interplan Transfers                      (57,849)      121,241       391,691       331,346       183,125      2,828         972,382
Interfund Transfers                    1,427,175       156,373       899,568     2,937,374    (3,500,820)    66,881       1,986,551
                                    -----------------------------------------------------------------------------------------------
      Net Increase (Decrease)          1,198,869     1,672,561     5,028,071     8,373,034    (3,783,207)   169,477      12,658,805
                                                                                                                    
Net Assets Available for Benefits:
      Beginning of Year                2,750,941     4,061,299    11,798,410    12,601,965     7,894,044    335,442      39,442,101
                                    -----------------------------------------------------------------------------------------------

      End of Year                    $ 3,949,810   $ 5,733,860  $ 16,826,481  $ 20,974,999   $ 4,110,837  $ 504,919    $ 52,100,906
                                    ===============================================================================================
(Continued on Page F-4)
The accompanying notes are an integral part of these financial statements.

</TABLE>
<PAGE>
<TABLE>
<S>                                     <C>           <C>           <C>        <C>             <C>         <C>       <C>        

                                                                 Central Maine Power Company
                                                            Employee Savings and Investment Plan
                                                                   For Non-Union Employees

                                                  Statement of Changes in Net Assets Available for Benefits
                                                            For the Year Ended December 31, 1997

                                          Asset                     Asset      Central       
                                         Manager       Asset      Manager    Maine Power      Loans Due      
                                          Income      Manager      Growth      Company           from        
                                           Fund         Fund        Fund      Stock Fund     Participants    Other      Total
Additions:
    Investment Income
      Net Appreciation
        on Fair Market Value            $ 29,807     $ 181,064     $ 323,360  $ 1,340,837      $   -       $   -     $ 8,848,732
      Dividend on Company Stock             -             -             -         499,215          -        (19,803)     479,412
      Interest and Dividends              37,281       167,555       413,464         -             -           -       3,710,917
      Interest on Loans                    1,250         2,660         7,058        6,954          -           -         112,144
    Contributions                                             
      Participants'                       43,200       142,264       311,399       93,839          -           -       3,336,910
      Employer's                            -             -             -       1,125,068          -           -       1,125,068
    Other                                   -             -             -           9,860          -           -         501,034
                                      ---------------------------------------------------------------------------------------------
         Total Additions                 111,538       493,543     1,055,281    3,075,773          -        (19,803)  18,114,217
Deductions:
    Benefits Paid to participants        (53,741)     (107,659)     (122,674)    (328,287)     (32,088)        -      (4,182,750)
    Loan Repayments                        7,535        15,440        44,596       41,189     (777,053)        -                 
    Loan Withdrawals                      (1,499)       (8,303)      (18,687)     (41,513)     781,977         -                 
    Other                                   -             -             -            -          (6,073)        -        (122,103)
                                      ---------------------------------------------------------------------------------------------
      Net Increase Prior to Transfer      63,833       393,021       958,516    2,747,162      (33,237)    (19,803)   13,809,364

Interplan Transfers                       (4,542)        5,875        40,213      315,357       91,509         -       1,420,794
Interfund Transfers                     (353,871)      (35,160)      798,138   (2,395,658)        -            -            -
                                      ---------------------------------------------------------------------------------------------
      Net Increase (Decrease)           (294,580)      363,736     1,796,867      666,861       58,272     (19,803)   15,230,158
                                                                                                                    
Net Assets Available for Benefits:                                                                                  
      Beginning of Year                  842,100     1,453,144     2,247,616    7,749,641    1,579,071     140,405    53,454,078
                                      ---------------------------------------------------------------------------------------------

      End of Year                      $ 547,520   $ 1,816,880   $ 4,044,483  $ 8,416,502  $ 1,637,343   $ 120,602  $ 68,684,236
                                      =============================================================================================
The accompanying notes are an integral part of these financial statements.

</TABLE>


<PAGE>


                                                     Central Maine Power Company
                                                           Form 11-K - Year 1997

                           Central Maine Power Company
                      Employee Savings and Investment Plan

                             For Non-Union Employees

                          Notes to Financial Statements
                                December 31, 1997

1.     Description of the Plan

       The Central Maine Power Company  Employee Savings and Investment Plan for
       Non-Union  Employees ("the Plan" or "the Non-Union  Plan") was adopted by
       the Board of Directors of Central Maine Power Company ("the  Company") on
       February 19, 1981.  Certain  pertinent  features of the Plan, as amended,
       are discussed below.

       a.     Eligibility of Participants

              Each  employee  of  the  Company,  and of  The  Union  Water-Power
              Company,  MaineCom,  Telesmart, CMP International  Consultants and
              Aroostook Valley Electric Company, its wholly-owned  subsidiaries,
              who  is  not  in a  unit  of  employees  covered  by a  collective
              bargaining agreement is eligible to join the Plan after completing
              one year of service  during which the employee has worked at least
              1,000 hours.

       b.     Elective Contributions by Participants

              Each  participant  elects  a  salary  reduction  percentage  to be
              contributed by the Company on their behalf. Participants may elect
              to have the Company contribute from 2% to 15% (in multiples of 1%)
              of their basic compensation to the Plan through a salary reduction
              agreement.

       c.     Matching Contributions by the Company

               The Company and its subsidiaries contribute to the Plan an amount
               equal  to 60% of the  first  5% of the  salary  reduction  amount
               contributed  on behalf of each  participant,  provided,  however,
               that the total contribution that the Company is obligated to make
               for any year does not exceed the maximum amount  deductible  from
               the  Company's  gross income under  applicable  provisions of the
               Internal  Revenue  Code.  In 1997 these  provisions  limited  the
               annual employee  contribution excluded from taxable income to the
               lesser  of 25% of total  compensation  or  approximately  $9,500.
               Employee  contributions  for employees who are defined as "highly
               compensated"  by the  Internal  Revenue  Service  may be  further
               limited in order to pass  nondiscrimination  tests. The Company's
               matching  contribution is made coincident with each payroll cycle
               during  the  year  and  shall  be paid in full as of the date the
               Company files its federal income tax return for that year.



<PAGE>


1.     Description of the Plan (continued)

       d.     Vesting

              Participants  are 100%  vested  in their  account  balances.  Each
              participant's  account  consists  of their  contributions  and any
              rollover  money,  the matching  Company  contribution  and any net
              earnings thereon.

       e.     Investment Options

              All  contributions  made  under the Plan are  subject to a master
              trust  that also  contains  the assets of two other  savings  and
              investment plans of the Company and its affiliated companies.  At
              December  31, 1997,  the Plan's  interest in  investments  in the
              master trust was approximately 68%. Contributions are invested by
              the Trustee,  based upon participant  election, in one or more of
              ten funds.  Those assets which  consist of shares of a registered
              investment  entity  are  invested  directly  into  a  participant
              account,  which is credited  periodically to reflect the earnings
              thereon. Those assets invested in the Central Maine Power Company
              Stock Fund are commingled  with the assets of additional  savings
              and investment plans of the Company and its affiliated companies.
              The earnings  related to the Central  Maine Power  Company  Stock
              Fund are allocated  prorata between the two plans based on market
              value.  Contributions to all Funds may be invested temporarily in
              short-term  investments prior to the purchase of the primary Fund
              securities.

              The Funds consist of:

              Retirement  Government  Money  Market  Portfolio  - An income fund
              comprised of short-term,  high-quality debt obligations  issued or
              guaranteed   by   the   U.S.    Government,    its   agencies   or
              instrumentalities.

              Fidelity   Balanced  Fund  -  A  diversified  fund  comprised  of
              high-yielding securities, including common stocks and bonds.

              Fidelity  Magellan  Fund - A fund  comprised  primarily of common
              stock  and  securities  convertible  into  common  stock  seeking
              capital appreciation.

              Spartan U.S.  Equity Index Fund - A fund comprised of common stock
              which  attempts to  duplicate  the  composition  of the Standard &
              Poor's  Daily Stock Price  Index of 500 Common  Stocks  during the
              current year.  The fund presents a passive  approach for investing
              in a diversified portfolio of common stocks.

              Fixed Income Contract Portfolio - A fixed-income fund comprised of
              investments  yielding a fixed rate of return,  as  selected by the
              Trustee, issued mainly by insurance companies and banks. This fund
              was closed to new investments effective May 1, 1996 and will cease
              to exist as of December 31, 1998.


<PAGE>


1.     Description of the Plan (continued)

       e.     Investment Options (continued)

              Fidelity  Intermediate  Bond Fund - A fund that seeks high current
              income by  investing  in  domestic  and  foreign  investment-grade
              securities with  intermediate  maturities and good credit quality.
              This fund was eliminated as of February 1, 1998.

              Asset Manager Income Fund - A fund emphasizing investment in bonds
              and short-term  instruments  for income and price  stability,  but
              allows some  investment in stocks for their  potential to grow and
              keep pace with inflation.  This fund was eliminated as of February
              1, 1998.

              Asset Manager Fund - A fund allocating its assets among and across
              domestic and foreign stocks,  bonds and short-term  instruments of
              U.S. and foreign  issuers,  including  those in emerging  markets.
              This fund was eliminated as of February 1, 1998.

              Asset  Manager  Growth  Fund - This fund seeks to maximize a total
              return over the long term;  the Fund  allocates  its assets  among
              three  principal  asset  classes:  stocks,  bonds  and  short-term
              instruments.  However, it may invest in many types of domestic and
              foreign securities.

              Central Maine Power  Company Stock Fund - A fund  comprised of the
              common shares of the Company.

              The  following  funds  have  been  added  and may  receive  either
              transfers from other funds or new contributions as of January 1, 
              1998:

              Fidelity  Diversified  International - This fund invests primarily
              in stocks of companies  located outside the U.S. that are included
              in  the  Morgan   Stanley  EAFA  Index.   Seeks  stocks  that  are
              undervalued compared to industry norms in their countries.

              Invesco  Total  Return - This fund  seeks to  achieve a high total
              return on  investment  through  capital  appreciation  and current
              income  by  investing  in  a  combination  of  equity   securities
              (consisting of common stocks and, to a lesser  degree,  securities
              convertible into common stock) and fixed income securities.

              Vanguard  PRIMECAP - This is an open-end  diversified  investment
              that seeks to provide  long-term  growth of capital by  investing
              principally in common stocks.



<PAGE>


1.     Description of the Plan (continued)

       e.     Investment Options (continued)

              PIMCO Total Return Bond Fund - This fund is an open-end management
              investment company consisting of twenty-four  separate  investment
              portfolios.  Each  fund  has its  own  investment  objectives  and
              policies.

              MAS Value  Fund - This is a no-load  mutual  fund  consisting  of
              twenty-six portfolios.  This fund also offers Institutional Class
              Shares and Investment Class Shares.

              Neuberger & Berman Genesis - The investment objective of this fund
              is to seek capital  appreciation.  This fund invests  primarily in
              common stock of companies with small market capitalizations.

              Upon enrollment,  participants elect the Fund or Funds in which to
              invest their  contributions.  The percentage of such contributions
              invested  in  a  particular   Fund  must  be  a  multiple  of  1%.
              Participants   may  change   the   investment   of  their   future
              contributions  (in  multiples  of 1%  of  such  contributions)  or
              transfer a portion from one Fund to another. Changes and transfers
              may be made at any time.

              All Company  contributions  are initially  invested in the Central
              Maine Power  Company  Stock Fund.  Dividends,  interest  and other
              distributions  received  on the assets  held in each Fund shall be
              reinvested in the respective  Fund.  Participants may transfer all
              or a portion of the Company contributions made on their behalf out
              of the CMP Company Stock Fund.

       f.     Withdrawals and Distributions

              A participant may elect to make a regular withdrawal of up to 100%
              of the value of their  contributions  made  prior to July 1, 1983,
              and earnings thereon,  (but not less than $500 unless the value of
              such  participant's  contributions and earnings thereon total less
              than  $500,  in which  case  such  total may be  withdrawn)  after
              approval by the Employee  Savings and Investment  Plan  Committee.
              Only one regular withdrawal may be made in any year.

              Withdrawals with respect to contributions  made subsequent to July
              1, 1983 may be made only for reasons of hardship. With the consent
              of the Company's Employee Savings and Investment Plan Committee, a
              participant may elect to make a hardship withdrawal, as determined
              in  accordance  with  the  Plan  provisions,  of up to 100%  their
              account.



<PAGE>



1.     Description of the Plan (continued)

       f.     Withdrawals and Distributions (continued)

              Distributions  from the Funds occurring as a result of termination
              of employment,  death, retirement or permanent disability are made
              no later than 60 days after the end of the Plan year, unless under
              certain  circumstances  retiring  or disabled  participants  elect
              otherwise.

       g.     Participant Loans

              Participants  may, in general,  borrow in the  aggregate  not more
              than 50% of their account  balances,  subject to a maximum loan of
              $50,000.  Loans bear  interest at a rate equal to the current rate
              of  interest  being  charged by the Central  Maine  Power  Company
              Employees  Federal Credit Union for loans secured by share account
              balances.  Interest  rates on loans  outstanding at year end range
              from 7.25% to 14.28%.  The maximum  term of the loans is generally
              five years,  with  borrowed  funds being  repaid  through  payroll
              deductions.

       h.     Expenses

               All expenses of administration of the Plan,  including  Trustee's
               and  record  keeper's  fees,  are  paid by  Central  Maine  Power
               Company.

2.     Summary of Significant Accounting Policies

       a.     Basis of Accounting

               The  financial  statements  of the Plan are  prepared  under  the
               accrual method of accounting.

       b.     Use of Estimates

              The preparation of the Plan's  financial  statements in conformity
              with generally accepted  accounting  principles  requires the plan
              administrator to make  significant  estimates and assumptions that
              affect the reported  amounts of net assets  available for benefits
              at the date of the  financial  statements  and the  changes in net
              assets  available for benefits  during the  reporting  period and,
              when applicable,  disclosure of contingent  assets and liabilities
              at the date of the  financial  statements.  Actual  results  could
              differ from those estimates.



<PAGE>


2.     Summary of Significant Accounting Policies (continued)

       c.     Risks and Uncertainties

              The  Plan   provides  for  various   investment   options  in  any
              combination of stocks, fixed income securities,  mutual funds, and
              other investment securities.  Investment securities are exposed to
              various risks, such as interest rate, market and credit risks. Due
              to  the  level  of  risk   associated   with  certain   investment
              securities,  it is at least  reasonably  possible  that changes in
              values of  investment  securities  will occur in the near term and
              that such changes could materially  affect  participants'  account
              balances and the amounts  reported in the  statement of net assets
              available  for benefits and the statement of changes in net assets
              available for benefits.

       d.     Investment Valuation and Income Recognition

              The Plan's  investments  are stated at fair value.  The investment
              contracts are valued at contract value (Note 3) which approximates
              fair value. Shares of registered  investment  companies are valued
              at quoted  market  prices which  represent  the net asset value of
              shares held by the Plan at year end.  Participant loans are valued
              at cost, which approximates fair value.

              Purchases  and sales of  securities  are  recorded on a trade-date
              basis. Interest income is recorded on the accrual basis. Dividends
              are recorded on the ex-dividend date.

3.     Investment Contracts with Insurance Companies

       Executive Life

       At  December  31,  1997,  Fidelity  held a  fixed  income  contract  with
       Executive Life Insurance Company ("Executive Life") with a contract value
       of approximately  $14,000. The Non-Union Plan holds approximately $10,000
       of the Executive Life contract.

       On April 11, 1991, the State of California  insurance  regulators  placed
       Executive  Life under  conservatorship.  Under the terms of the  modified
       rehabilitation  plan,  contract  holders  were  given a choice  to either
       opt-in or opt-out of a 5-year fixed income  contract with Aurora National
       Life Assurance Company,  the successor to Executive Life. After review of
       all the  relevant  facts and the  advice  of an  insurance  research  and
       consulting firm, the Company selected the opt-out approach.



<PAGE>


3.     Investment Contracts with Insurance Companies (continued)

       Executive Life (continued)

       On October 26, 1995 the Plan received a  distribution  of $1.9 million or
       87.5% of the original frozen assets.  On May 27, 1996 the Plan received a
       second  distribution  of $110  thousand  or 4.8%,  bringing  the total to
       92.3%. A third  distribution of 6.9% was received on May 8, 1997 bringing
       the  total   recovery  to  99.2%  of  the  original   contract.   Further
       distributions are expected as conditions for liquidating  assets improve.
       Full  recovery of the original  investment  is expected.  It was expected
       that  along  with  resolution  of the  rehabilitation  proceedings,  this
       settlement  would  result in greater  than 100%  recovery of the original
       Executive Life contract.

       Effective  July 31,  1997,  the terms and  conditions  of a  confidential
       agreement between CMP and State Street Bank were met. With the receipt of
       $379,501  from State  Street Bank on August 20, 1997,  participants  with
       Executive Life holdings have now received 115.1% of the original contract
       value.

       Requests from Plan  participants  for payments or transfers of funds from
       the Fixed  Income  Fund will  continue  to be  processed,  but the shares
       associated  with the remaining  Executive  Life  contract  continue to be
       temporarily frozen.

4.     Related Party Transactions

       Certain Plan investment options are shares of mutual funds managed by the
       Trustee and Company common stock.  Therefore,  these transactions qualify
       as party-in-interest transactions.

5.     Investments

       The following investments represent 5% or more of the total net assets
       available for plan benefits at December 31, 1997:

                               Description                        Amount

       Retirement Government Money Market Portfolio            $ 3,949,810
       Fidelity Balanced Fund* .............................     5,733,860
       Fidelity Magellan Fund* .............................    16,826,481
       Spartan U.S. Equity Index Fund* .....................    20,974,999
       Fidelity Short-term Investment Fund* (A) ............     3,556,016
       Asset Manager Growth Fund* ..........................     4,044,483 
       Central Maine Power Company Stock Fund* .............     8,779,974

       *Represents a party-in-interest to the Plan.

       (A) Represents a portion of investment included in Fixed Income  Contract
           Portfolio.


<PAGE>



6.     Plan Termination

       Although  it has not  expressed  any intent to do so, the Company has the
       right under the Plan to discontinue its  contributions at any time and to
       terminate the Plan subject to the provisions of ERISA.

7.     Federal Income Taxes

       The Internal  Revenue Service (IRS) has issued a favorable  determination
       letter with respect to the Plan's tax-exempt status under Sections 401(a)
       and 401(k) of the Internal Revenue Code. Therefore,  no income taxes have
       been provided for in the accompanying financial statements.

       Elective  contributions  to the Plan  made by the  Company  on  behalf of
       employees are not subject to federal income taxes  currently,  as long as
       these  contributions  are below the maximum  level  derived in accordance
       with Section 401(k) regulations. Contributions and earnings thereon will,
       in general,  be taxable upon  distribution,  although rules providing for
       additional  deferral may apply with respect to certain  distributions  of
       Company stock.

       The  Internal  Revenue  Service has  determined  and informed the Company
       sponsor by letter dated February 10, 1995, that the Plan is qualified and
       the related trust  established  under the Plan is  tax-exempt,  under the
       applicable  sections  of the  Internal  Revenue  Code.  The Plan has been
       amended  since  receiving the  determination  letter.  However,  the Plan
       administrator  and the  Plan's  tax  counsel  believe  that  the  Plan is
       currently  designed and being operated in compliance  with the applicable
       requirements  of the  Code.  Therefore  they  believe  that  the Plan was
       qualified  and the  related  trust  was  tax-exempt  as of the  financial
       statement date.

8.     Differences with Form 5500

       Differences  between  the  information   contained  in  the  financial
       statements  and Form 5500 are  primarily  related  to  differences  in
       classification.   The  Form  5500  does  not  provide   the   detailed
       information  of  balances  or  earnings  related to assets held in the
       master trust.



<PAGE>



                                                     Central Maine Power Company
                                                           Form 11-K - Year 1997
                                                                      Schedule I
                                                                     Page 1 of 3

                           Central Maine Power Company
                      Employee Savings and Investment Plan

                           For Non-Union Employees (B)

           Item 27a - Schedule of Assets Held for Investment Purposes
                              At December 31, 1997
<TABLE>
<S>                                                          <C>         <C>           <C>        

                                                                                         Market/
                             Name of Issuer                                             Contract
     Fund                  and Title of Issue                 Units (A)      Cost         Value

Retirement Government Money Market Fund ................     5,596,133   $ 5,596,133   $ 5,596,133
Fidelity Balanced Fund* ................................       552,364     7,601,068     8,434,601
Fidelity Magellan Fund* ................................       261,680    20,999,553    24,930,263
Spartan U.S. Equity Index Fund* ........................       842,854    19,322,212    29,483,035
Fidelity Intermediate Bond Fund* .......................        62,508       632,011       635,706
Asset Manager Income Fund* .............................        68,997       803,478       840,377
Asset Manager Fund* ....................................       146,263     2,398,000     2,683,924
Asset Manager Growth Fund* .............................       321,551     5,416,223     5,942,261

Fixed Income
         Sun Life Insurance of America (1994 Contracts)
           Contract rate 7.50%
           Maturity date 12/31/98 ......................       786,516       786,516       786,516
         Executive Life Insurance Company (1989 Contract)
         Maturity date 12/31/93
         (See Note 3 to Financial Statements) ..........        13,704        13,704        13,704
         Fidelity-Short-term Investment Fund (at par
         value)*
           Contract rate 5.63% .........................     5,132,619     5,132,619     5,132,619
                                                                         -----------   -----------
           Total Fixed Income Fund                                       $ 5,932,839   $ 5,932,839

*Parties in interest to the plan.
</TABLE>



<PAGE>



                                                     Central Maine Power Company
                                                           Form 11-K - Year 1997
                                                                      Schedule I
                                                                     Page 2 of 3

                           Central Maine Power Company
                      Employee Savings and Investment Plan

                           For Non-Union Employees (B)

           Item 27a - Schedule of Assets Held for Investment Purposes
                              At December 31, 1997
<TABLE>
<S>                                                                            <C>       <C>            <C>         

                                                                                                          Market/
                               Name of Issuer                                                            Contract
      Fund                   and Title of Issue                              Units (A)       Cost          Value

Central Maine Power Company Stock

Central Maine Power Company Stock
  Shares* .............................................................        864,085   $ 11,371,187   $ 13,178,336
Fidelity U.S. Government Reserve Pool (at par
value)* ...............................................................        927,688        927,688        927,688
                                                                                         ------------   ------------
  Total CMP Stock Fund ................................................                    12,298,875     14,106,024

  Total  Investments All Funds  Participant Loans (interest rates range
  from 7.25% to 14.28%, maturity dates are generally within
  5 years.) ...........................................................                     2,769,361      2,769,361
                                                                                         ------------   ------------
  Grand Total .........................................................                  $ 83,769,753   $101,354,524

*Parties in interest to the plan.
</TABLE>



<PAGE>


                                                     Central Maine Power Company
                                                           Form 11-K - Year 1997
                                                                      Schedule I
                                                                     Page 3 of 3

                           Central Maine Power Company
                      Employee Savings and Investment Plan

                             For Non-Union Employees

                        Notes to Schedule I - Investments

 (A) "Units," except for shares of Company stock, indicates each Fund's share of
     the total units  associated with pooled funds,  which are  accumulations of
     investments from numerous entities, including the Plan.

 (B) The  investments  of the Central Maine Power Company  Employee  Savings and
     Investment  Plan for Non-Union  Employees are  commingled in a master trust
     with the  investments  of one other employee  savings and  investment  plan
     maintained  by the  Company  and its  affiliates.  Schedule I presents  the
     consolidated  investments  of both plans.  This Plan's  share of the pooled
     investments is as follows:

                                                                 Market/Contract
                                                 Cost                   Value

Retirement Government Money Market Portfolio    $3,949,810            $3,949,810
Fidelity Balanced Fund*                          5,173,247             5,733,860
Fidelity Magellan Fund*                         14,179,003            16,826,481
Spartan U.S. Equity Index Fund*                 13,820,999            20,974,999
Fixed Income Contract Portfolio                  4,110,837             4,110,837
Fidelity Intermediate Bond Fund*                   502,373               504,919
Asset Manager Income Fund*                         524,124               547,520
Asset Manager Fund*                              1,612,582             1,816,880
Asset Manager Growth Fund*                       3,673,759             4,044,483
Central Maine Power Company Stock*               7,077,737             8,779,974
Loans Due from Participants                      1,637,343             1,637,343


*Parties in interest to the plan.


<PAGE>
<TABLE>
 <S>                                      <C>      <C>                <C>    <C>           <C>            <C>
                                                  Central Maine Power Company
                                               Employee Savings and Investment Plan

                                                     For Non-Union Employees

                                          Items 27d Schedule of Reportable Transactions
                                               For the Year Ended December 31, 1997

                                      No. of                       No. of                      Current       
                                      Trans.        Purchase       Trans.      Selling         Cost of           Net
            Description of Asset     Purchased       Price          Sold        Price           Asset        Gain/(Loss)

 
Retirement Government Money
  Market Portfolio                       239      $34,032,064        209    $32,775,346   $32,775,346    $      -

Fidelity Balanced Fund*                  172        2,122,270         96        926,315       844,993         81,322

Fidelity Magellan Fund*                  214        4,948,066        119      2,567,335     2,298,562        268,773

Spartan U.S. Equity Index Fund*          235       12,721,321        134      9,041,053     8,358,328        682,725

Fidelity Short-term Investment Fund* 
  (Schedule I)                            25        2,538,914        191      3,958,475      3,958,475          -

Fidelity Intermediate Bond Fund*         105        1,684,287         33      1,518,866      1,522,209        (3,343)

Asset Manager Growth Fund*               171        2,250,408         61        817,114        738,319        78,795

Central Maine Power Company
  Stock Fund                                                                                              
            CMP Common Stock*            244       12,668,856        233     14,240,053     15,166,569      (926,516)
                                                                                                          
            Fidelity U.S. Government
              Reserve Pool*              244       22,267,337        233     21,408,151     21,408,151          -

* Parties in interest to the plan                                                                         
</TABLE>


<PAGE>
                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS


         As   independent   public   accountants,   we  hereby  consent  to  the
incorporation  of our  report,  included in this Form 11-K,  into the  Company's
previously filed Registration Statement on Form S-8 (File No. 33-44754).



                                                     COOPERS & LYBRAND L.L.P.

Portland, Maine
June 29, 1998



<PAGE>
                                                     Central Maine Power Company
                                                           Form 11-K - Year 1997

                           Central Maine Power Company
                      Employee Savings and Investment Plan

                             For Non-Union Employees

                                    SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Trustee
(or other  persons who  administer  the employee  benefit plan) have duly caused
this annual report to be signed on its behalf by the  undersigned  hereunto duly
authorized.



                                    Central Maine Power Company Employee Savings
                                     and Investment Plan for Non-Union Employees
                                                                  (Name of Plan)



                                    /s/D. E. Marsh
                                    D. E. Marsh, Chief Financial Officer, 
                                    Member, Employee Savings and Investment Plan
                                    Committee, Central Maine Power Company

Date:  June 29, 1998