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                     SECURITIES AND EXCHANGE COMMISSION
                           Washington, D. C. 20549


                                  FORM 10-Q/A


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

              For the quarterly period ended September 30, 1996

              OR

        / /   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
              THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)

                         _____________________________

                         Commission File Number 1-4393
                         _____________________________


                       PUGET SOUND POWER & LIGHT COMPANY
             (Exact name of registrant as specified in its charter)

             Washington                                 91-0374630
             (State or other                      (I.R.S. Employer
             jurisdiction of                   Identification No.)
             incorporation or
             organization)

             411 - 108th Avenue N.E., Bellevue, Washington 98004-5515
                    (Address of principal executive offices)

                                 (206) 454-6363
             (Registrant's telephone number, including area code)


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 for such reports), and (2) has been
subject to such filing requirements for the past 90 days.

                           Yes /X/        No / /

The number of shares of registrant's common stock outstanding at September
30, 1996 was 63,640,861
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PART II - OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K

    (a)  The following exhibits are filed herewith:

         12-a  Statement setting forth computation of ratios of earnings to
               fixed charges (1991 through 1995 and twelve months ending
               September 30, 1996).

         12-b  Statement setting forth computation of ratios of earnings to
               combined fixed charges and preferred stock dividends (1991
               through 1995 and twelve months ending September 30, 1996).

         27    Financial Data Schedule

         99    Pro Forma Financial Statements of Puget Sound Energy

    (b)  Reports on Form 8-K

         None
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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.

                                       PUGET SOUND POWER & LIGHT COMPANY


                                               James W. Eldredge
                                       ---------------------------------
                                               James W. Eldredge
                                       Corporate Secretary and Controller


Date: January 15, 1997                 Chief accounting officer and
                                       officer duly authorized to sign this
                                       report on behalf of the registrant.