<PAGE>

                       THE PROVIDENCE ENERGY CORPORATION

                                  FORM 10-Q/A

                      SECURITIES AND EXCHANGE COMMISSION

                            Washington, D. C. 20549

(Mark One)

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

For the quarterly period ended        December 31, 1999
                               ----------------------------------------------

                                       OR

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

For the Transition period from ____________________ to _____________________

Commission file number                    1-10032
                       -------------------------------------------------------

                         PROVIDENCE ENERGY CORPORATION
 -----------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)

            Rhode Island                                   05-0389170
--------------------------------------------------------------------------------
(State or other jurisdiction of incorporation          (I.R.S. Employer
           or organization)                             Identification No.)

             100 Weybosset Street, Providence, Rhode Island  02903
--------------------------------------------------------------------------------
                   (Address of principal executive offices)
                                  (Zip Code)

                                 401-272-5040
--------------------------------------------------------------------------------
              Registrant's telephone number, including area code

(Former name, former address and former fiscal year, if changed since last
 report).

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 such
filing requirements for the past 90 days.
Yes  X  No    .
    ---    ---

                     APPLICABLE ONLY TO CORPORATE ISSUERS:

Common stock, $1.00 par value, 6,141,488 shares outstanding at January 31, 2000.
--------------------------------------------------------------------------------

This amendment to the Quarterly Report on Form 10-Q of the Providence Energy
Corporation for the quarter ended December 31, 1999 is made for the purpose of
correcting a clerical error in the income statement.  This change does not
effect the reported earnings per share or any of the subtotals within the income
statement.
<PAGE>

PART I.  FINANCIAL INFORMATION
------   ---------------------

ITEM 1.  FINANCIAL STATEMENTS
------   --------------------
<TABLE>
<CAPTION>

                                                  PROVIDENCE ENERGY CORPORATION AND SUBSIDIARIES
                                                ---------------------------------------------------
                                                       CONSOLIDATED STATEMENTS OF INCOME
                                                ---------------------------------------------------
                                                       FOR THE PERIODS ENDED DECEMBER 31
                                                ---------------------------------------------------
                                                                  (Unaudited)
                                                ---------------------------------------------------


                                                        THREE MONTHS        TWELVE MONTHS
                                                        ------------        --------------
                                                       1999      1998      1999       1998
                                                     -----------------     ----------------
                                                      (thousands, except per share amounts)
<S>                                                 <C>       <C>      <C>        <C>
Energy revenues                                      $70,781   $64,722   $231,088   $218,892
Cost of energy                                        40,611    35,010    124,644    118,062
                                                     -------   -------   --------   --------
 Operating margin                                     30,170    29,712    106,444    100,830
                                                     -------   -------   --------   --------

Operating expenses:
 Operation and maintenance                            13,208    13,500     52,755     53,436
 Depreciation and amortization                         4,741     4,355     17,882     15,261
 Taxes:
  State gross earnings                                 1,682     1,681      5,674      5,519
  Local property and other                             2,229     2,055      9,054      8,451
                                                     -------   -------   --------   --------
Total operating expenses                              21,860    21,591     85,365     82,667
                                                     -------   -------   --------   --------

Operating income                                       8,310     8,121     21,079     18,163

Other income (loss):
 Merger related expenses                              (1,084)        -     (1,084)         -
 Other                                                   332        20      1,435       (111)
                                                     -------   -------   --------   --------
Total other income (loss)                               (752)       20        351       (111)
                                                     -------   -------   --------   --------

Interest expense:
 Long-term debt                                        1,768     1,552      7,043      6,453
 Other                                                   830       516      2,576      1,917
 Interest capitalized                                    (59)      (76)      (372)      (249)
                                                     -------   -------   --------   --------
                                                       2,539     1,992      9,247      8,121
                                                     -------   -------   --------   --------

Income before Federal income taxes                     5,019     6,149     12,183      9,931

Provision for Federal income taxes                     1,735     2,078      4,197      3,473
                                                     -------   -------   --------   --------

Income before preferred dividends of
 subsidiary                                            3,284     4,071      7,986      6,458

Preferred dividends of subsidiary                         70       104        314        452
                                                     -------   -------   --------   --------

Net income                                           $ 3,214   $ 3,967   $  7,672   $  6,006
                                                     =======   =======   ========   ========

Net income per
common share - basic                                 $   .53   $   .66   $  1.27    $  1.01
                                                     =======   =======   ========   ========

Net income per
common share - diluted                               $   .52   $   .66   $  1.26    $  1.01
                                                     =======   =======   ========   ========

Weighted average number of
shares outstanding:
 Basic                                               6,118.8   5,974.0   6,051.9    5,946.1
                                                     =======   =======   ========   ========

 Diluted                                             6,176.1   5,985.0   6,081.9    5,956.6
                                                     =======   =======   ========   ========
</TABLE>

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

                                     II-1
<PAGE>

   PROVIDENCE ENERGY CORPORATION AND SUBSIDIARIES


It is the opinion of management that the financial information contained in this
report reflects all adjustments necessary for a fair statement of results for
the periods reported, but such results are not necessarily indicative of results
to be expected for the year due to the seasonal nature of the Registrant's
operations. All accounting policies and practices have been applied in a manner
consistent with prior periods.



                                   SIGNATURE
                                   ---------

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



           Providence Energy Corporation
           (Registrant)



           BY: /s/  KENNETH W. HOGAN
              -------------------------------------
               KENNETH W. HOGAN
               Vice President, Chief Financial
               Officer, and Treasurer



Dated:  February 23, 2000
        -----------------



                                     II-2