
                                        

<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

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

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


FOR QUARTER ENDED    MARCH 31, 1998         COMMISSION FILE NUMBER    1-3034
                  --------------------

        

                          NORTHERN STATES POWER COMPANY
                          -----------------------------
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


 MINNESOTA                                             41-0448030
----------                                            ------------
(STATE  OF  OTHER  JURISDICTION  OF                  (I.R.S.  EMPLOYER
 INCORPORATION  OR  ORGANIZATION)                     IDENTIFICATION  NO.)


414  NICOLLET  MALL,  MINNEAPOLIS,  MINNESOTA                   55401
---------------------------------------------                   ------
(ADDRESS  OF  PRINCIPAL  EXECUTIVE  OFFICES)              (ZIP  CODE)


REGISTRANT'S  TELEPHONE  NUMBER, INCLUDING AREA CODE       (612)330-5500
                                                     ---------------------------



                                      NONE
                                      ----
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
                                                  -----      ------

INDICATE  THE  NUMBER  OF  SHARES OUTSTANDING OF EACH OF THE ISSUER'S CLASSES OF
COMMON  STOCK,  AS  OF  THE  LATEST  PRACTICABLE  DATE.

     CLASS                                      OUTSTANDING APRIL  30,  1998
--------------------                            ----------------------------
COMMON  STOCK,  $2.50  PAR  VALUE                   75,368,508  SHARES


<PAGE>
                         PART 1.  FINANCIAL INFORMATION
                         ------------------------------

ITEM  1.    FINANCIAL  STATEMENTS
---------------------------------

           NORTHERN STATES POWER COMPANY (MINNESOTA) AND SUBSIDIARIES
                  CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
                  ---------------------------------------------

<TABLE>
<CAPTION>

                                                                                         Three Months Ended
                                                                                              March 31
                                                                                       -----------------------    
                                                                                    1998                       1997
                                                                               -------------              ----------  
                                                                                           (Thousands of dollars)
UTILITY OPERATING REVENUES
<S>                                                                             <C>          <C>                     
  Electric: Retail . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $  479,826   $              482,843 
            Sales for resale and other . . . . . . . . . . . . . . . . . . . .      41,745                   36,291 
  Gas. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     179,831                  223,362 
    Total .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     701,402                  742,496 
                                                                                -----------              ----------      

UTILITY OPERATING EXPENSES
  Fuel for electric generation . . . . . . . . . . . . . . . . . . . . . . . .      75,639                   81,294 
  Purchased and interchange power. . . . . . . . . . . . . . . . . . . . . . .      72,523                   58,288 
  Cost of gas purchased and transported. . . . . . . . . . . . . . . . . . . .     113,582                  152,019 
  Other operation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      95,466                   88,800 
  Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      39,860                   43,501 
  Administrative and general.. . . . . . . . . . . . . . . . . . . . . . . . .      37,779                   34,628 
  Conservation and energy management . . . . . . . . . . . . . . . . . . . . .      16,885                   17,299 
  Depreciation and amortization. . . . . . . . . . . . . . . . . . . . . . . .      84,100                   79,842 
  Taxes:  Property and general.. . . . . . . . . . . . . . . . . . . . . . . .      55,960                   61,353 
          Current income. . . . . . . . . . . . . . . . . . . . . . . . . . .       38,387                   46,217 
          Deferred income . . . . . . . . . . . . . . . . . . . . . . . . . .      (5,623)                  (7,023)
          Investment tax credits recognized.. . . . . . . . . . . . . . . . .      (2,206)                  (2,178)
      Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     622,352                  654,040 
                                                                                -----------             ----------      

UTILITY OPERATING INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . .      79,050                   88,456 

OTHER INCOME (EXPENSE)
  Income from nonregulated businesses - before interest and taxes. . . . . . .       4,380                    6,649 
  Allowance for funds used during construction - equity. . . . . . . . . . . .       1,745                    2,314 
  Other utility income (deductions) - net. . . . . . . . . . . . . . . . . . .         705                   (3,138)
  Income tax benefits on nonregulated operations and nonoperating items. . . .      14,026                    6,391 
      Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      20,856                   12,216 
                                                                                -----------             ------------      

INCOME BEFORE FINANCING COSTS. . . . . . . . . . . . . . . . . . . . . . . . .      99,906                  100,672 

FINANCING COSTS
  Interest on utility long-term debt.. . . . . . . . . . . . . . . . . . . . .      25,266                   25,550 
  Other utility interest and amortization. . . . . . . . . . . . . . . . . . .       3,419                    4,865 
  Nonregulated interest and amortization . . . . . . . . . . . . . . . . . . .      12,278                    4,961 
  Allowance for funds used during construction - debt. . . . . . . . . . . . .      (2,112)                  (3,102)
                                                                                -----------             ------------      
      Total interest charges . . . . . . . . . . . . . . . . . . . . . . . . .      38,851                   32,274 

Distributions on redeemable preferred securities of subsidiary trust.. . . . .       3,938                    2,625 
                                                                                -----------             -----------      

      TOTAL FINANCING COSTS. . . . . . . . . . . . . . . . . . . . . . . . . .      42,789                   34,899 
                                                                                -----------             -----------      

NET INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      57,117                   65,773 
PREFERRED STOCK DIVIDENDS AND REDEMPTION PREMIUMS. . . . . . . . . . . . . . .       2,367                    3,957 

EARNINGS AVAILABLE FOR COMMON STOCK. . . . . . . . . . . . . . . . . . . . . .  $   54,750   $               61,816 
                                                                                ===========  =======================      

AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (000'S). . . . . . . . . . . . . .      74,607                   68,724 
AVERAGE NUMBER OF COMMON AND POTENTIALLY DILUTIVE SHARES OUTSTANDING (000'S)..      74,733                   68,827 

EARNINGS PER AVERAGE COMMON SHARE - BASIC. . . . . . . . . . . . . . . . . . .  $     0.73   $                 0.90 
EARNINGS PER AVERAGE COMMON SHARE - ASSUMING DILUTION. . . . . . . . . . . . .  $     0.73   $                 0.90 

COMMON DIVIDENDS DECLARED PER SHARE. . . . . . . . . . . . . . . . . . . . . .  $    0.705   $                0.690 

CONSOLIDATED STATEMENTS OF RETAINED EARNINGS (UNAUDITED)
------------------------------------------------------------------------------                                            

Balance at beginning of period.. . . . . . . . . . . . . . . . . . . . . . . .  $1,364,875   $            1,340,799 
     Net income for period . . . . . . . . . . . . . . . . . . . . . . . . . .      57,117                   65,773 
     Dividends declared:
            Cumulative preferred stock . . . . . . . . . . . . . . . . . . . .      (2,367)                  (2,809)
            Common stock . . . . . . . . . . . . . . . . . . . . . . . . . . .     (52,622)                 (47,721)
    Premium on redeemed preferred stock. . . . . . . . . . . . . . . . . . . .           -                   (1,148)
                                                                                -----------  -----------------------      

Balance at end of period.. . . . . . . . . . . . . . . . . . . . . . . . . . .  $1,367,003   $            1,354,894 
                                                                                ===========  =======================      
</TABLE>


The  Notes  to  Consolidated  Financial  Statements  are an integral part of the
Statements  of  Income  and  Retained  Earnings.

                                        1
<PAGE>

           NORTHERN STATES POWER COMPANY (MINNESOTA) AND SUBSIDIARIES
                CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
                -------------------------------------------------

<TABLE>
<CAPTION>

                                                                                     Three Months Ended
                                                                                        March 31,
                                                                                 1998            1997
                                                                             
                                                                                  (Thousands of dollars)
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                                        <C>         <C>                      
   Net Income.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $  57,117   $               65,773 
   Adjustments to reconcile net income to cash from operating activities:
     Depreciation and amortization. . . . . . . . . . . . . . . . . . . .     93,874                   87,142 
     Nuclear fuel amortization. . . . . . . . . . . . . . . . . . . . . .      9,878                    9,706 
     Deferred income taxes. . . . . . . . . . . . . . . . . . . . . . . .     (6,181)                  (6,709)
     Deferred investment tax credits recognized . . . . . . . . . . . . .     (2,284)                  (2,256)
     Allowance for funds used during construction - equity. . . . . . . .     (1,745)                  (2,314)
     Undistributed equity in earnings of unconsolidated affiliates. . . .    (11,019)                  (6,060)
     Cash provided by changes in certain working capital items. . . . . .     77,590                   63,384 
     Cash provided by changes in other assets and liabilities.. . . . . .      3,455                    9,679 

  Net cash provided by operating activities.. . . . . . . . . . . . . . .    220,685                  218,345 
                                                                           ----------  -----------------------      

CASH FLOWS FROM INVESTING ACTIVITIES:
   Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . .    (74,814)                 (80,052)
   Decrease in construction payables. . . . . . . . . . . . . . . . . . .       (500)                  (3,402)
   Allowance for funds used during construction - equity. . . . . . . . .      1,745                    2,314 
   Investment in external decommissioning fund. . . . . . . . . . . . . .    (10,497)                 (10,505)
   Equity investments, loans and deposits for nonregulated projects.. . .    (77,230)                  (6,593)
   Collection of loans made to nonregulated projects. . . . . . . . . . .     55,079                        - 
   Other investments - net. . . . . . . . . . . . . . . . . . . . . . . .     (7,469)                  (8,533)
  Net cash used for investing activities. . . . . . . . . . . . . . . . .   (113,686)                (106,771)
                                                                           ----------  -----------------------      

CASH FLOWS FROM FINANCING ACTIVITIES:
   Change in short-term debt - net issuances (repayments).. . . . . . . .   (134,971)                (214,587)
   Proceeds from issuance of long-term debt - net.. . . . . . . . . . . .    252,781                        - 
   Repayment of long-term debt. . . . . . . . . . . . . . . . . . . . . .     (9,818)                  (1,953)
   Proceeds from issuance of common stock - net.. . . . . . . . . . . . .     16,045                        - 
   Proceeds from issuance of preferred securities - net.. . . . . . . . .          -                  193,513 
   Redemption of preferred stock, including reacquisition premiums. . . .    (95,000)                 (41,278)
   Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . .    (55,994)                 (50,901)

  Net cash used for financing activities. . . . . . . . . . . . . . . . .    (26,957)                (115,206)
                                                                           ----------  -----------------------      

Net increase (decrease) in cash and cash equivalents. . . . . . . . . . .     80,042                   (3,632)

Cash and cash equivalents at beginning of period. . . . . . . . . . . . .     54,765                   51,118 
                                                                           ----------  -----------------------      

Cash and cash equivalents at end of period. . . . . . . . . . . . . . . .  $ 134,807   $               47,486 
                                                                           ==========  =======================      
</TABLE>


The  Notes  to  Consolidated  Financial  Statements  are an integral part of the
Statements  of  Cash  Flows.

                                        2


<PAGE>

           NORTHERN STATES POWER COMPANY (MINNESOTA) AND SUBSIDIARIES
                     CONSOLIDATED BALANCE SHEETS (UNAUDITED)
                     ---------------------------------------

<TABLE>
<CAPTION>

                                                                                                  March 31,        December 31,
                                                                                                    1998              1997
                                                                                                                     
                                                                                                    (Thousands of dollars)
<S>                                                                                         <C>                      <C>
ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .            
UTILITY PLANT
  Electric . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $            7,011,139   $ 6,964,888 
  Gas. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 823,688       821,119 
  Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 347,063       343,950 
      Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               8,181,890     8,129,957 
    Accumulated provision for depreciation . . . . . . . . . . . . . . . . . . . . . . . .              (3,942,541)   (3,868,810)
  Nuclear fuel.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 945,606       932,335 
    Accumulated provision for amortization.. . . . . . . . . . . . . . . . . . . . . . . .                (842,039)     (832,162)
      Net utility plant. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               4,342,916     4,361,320 

CURRENT ASSETS
  Cash and cash equivalents. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 134,807        54,765 
  Customer accounts receivable - net.. . . . . . . . . . . . . . . . . . . . . . . . . . .                 253,569       269,455 
  Unbilled utility revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  99,533       121,619 
  Notes receivable from nonregulated projects. . . . . . . . . . . . . . . . . . . . . . .                  26,088        55,787 
  Other receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  61,522        80,803 
  Fossil fuel inventories - at average cost. . . . . . . . . . . . . . . . . . . . . . . .                  43,102        56,434 
  Materials and supplies inventories - at average cost . . . . . . . . . . . . . . . . . .                 111,613       107,254 
  Prepayments and other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  47,112        55,674 
    Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 777,346       801,791 

OTHER ASSETS
  Equity investments in nonregulated projects. . . . . . . . . . . . . . . . . . . . . . .                 808,260       740,734 
  External decommissioning fund and other investments. . . . . . . . . . . . . . . . . . .                 434,943       400,290 
  Regulatory assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 324,396       340,122 
  Nonregulated property - net of accumulated depreciation. . . . . . . . . . . . . . . . .                 251,690       256,726 
  Notes receivable from nonregulated projects. . . . . . . . . . . . . . . . . . . . . . .                  83,353        77,639 
  Other long-term receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  42,711        42,600 
  Intangible assets - net of amortization. . . . . . . . . . . . . . . . . . . . . . . . .                  90,322        92,829 
  Long-term prepayments and deferred charges . . . . . . . . . . . . . . . . . . . . . . .                  35,064        30,015 
     Total other assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               2,070,739     1,980,955 
      TOTAL ASSETS.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $            7,191,001   $ 7,144,066 
                                                                                            =======================  ============

LIABILITIES AND EQUITY
CAPITALIZATION
  Common stock equity:
    Common stock and premium - authorized 160,000,000
      shares of $2.50 par value, issued shares:
      1998 74,918,021 and 1997 74,618,382. . . . . . . . . . . . . . . . . . . . . . . . .  $            1,096,713   $ 1,080,273 
    Retained earnings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               1,367,003     1,364,875 
    Leveraged common stock held by ESOP. . . . . . . . . . . . . . . . . . . . . . . . . .                  (8,764)      (10,533)
    Accumulated other comprehensive income . . . . . . . . . . . . . . . . . . . . . . . .                 (66,048)      (62,887)
      Total common stock equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               2,388,904     2,371,728 

  Cumulative preferred stock and premium - authorized
    7,000,000 shares of $100 par value; outstanding
    shares:  1998, 1,050,000 and 1997, 2,000,000
    without mandatory redemption . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 105,340       200,340 
   Mandatorily redeemable preferred securities of subsidiary trust - guaranteed
      by NSP*. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 200,000       200,000 
  Long-term debt.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               2,122,676     1,878,875 
      Total capitalization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               4,816,920     4,650,943 

CURRENT LIABILITIES
  Long-term debt due within one year.. . . . . . . . . . . . . . . . . . . . . . . . . . .                  22,045        22,820 
  Other long-term debt potentially due within one year.. . . . . . . . . . . . . . . . . .                 141,600       141,600 
  Short-term debt .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 125,381       260,352 
  Accounts payable.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 187,173       249,813 
  Taxes accrued. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 246,220       186,369 
  Interest accrued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  40,480        28,724 
  Dividends payable on common and preferred stocks . . . . . . . . . . . . . . . . . . . .                  53,773        54,778 
  Accrued payroll, vacation and other. . . . . . . . . . . . . . . . . . . . . . . . . . .                  89,694        89,562 
      Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 906,366     1,034,018 

OTHER LIABILITIES
  Deferred income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 782,336       792,569 
  Deferred investment tax credits. . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 136,036       138,509 
  Regulatory liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 342,232       305,765 
  Postretirement and other benefit obligations . . . . . . . . . . . . . . . . . . . . . .                 126,660       135,612 
  Other long-term obligations and deferred income. . . . . . . . . . . . . . . . . . . . .                  80,451        86,650 
      Total other liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               1,467,715     1,459,105 

COMMITMENTS AND CONTINGENT LIABILITIES  (SEE NOTE 3)

        TOTAL LIABILITIES AND EQUITY . . . . . . . . . . . . . . . . . . . . . . . . . . .  $            7,191,001   $ 7,144,066 
                                                                                            =======================  ============
</TABLE>

The Notes to Consolidated Financial Statements are an integral part of the 
Balance Sheets


*  The  primary  asset  of  NSP  Financing I, a subsidiary trust of NSP, is 
   $200 million principal amount of the Company's 7.875%  Junior Subordinated
   Debentures  due  2037.



                                        3

<PAGE>

           NORTHERN STATES POWER COMPANY (MINNESOTA) AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                   ------------------------------------------

     In  the  opinion  of  management,  the  accompanying  unaudited  financial
statements  contain  all  adjustments  necessary to present fairly the financial
position  of  Northern  States  Power  Company (Minnesota) (the Company) and its
subsidiaries  (collectively,  NSP)  as  of March 31, 1998 and Dec. 31, 1997, the
results  of  its  operations for the three months ended March 31, 1998 and 1997,
and  its  cash flows for the three months ended March 31, 1998 and 1997.  Due to
the  seasonality of NSP's electric and gas sales and variability of nonregulated
operations,  operating  results  on  a  quarterly  basis  are not necessarily an
appropriate  base  from  which  to  project  annual  results.

     The  accounting  policies  followed  by  NSP are set forth in Note 1 to the
financial statements in NSP's Annual Report on Form 10-K for the year ended Dec.
31,  1997  (1997  Form 10-K).  The following notes should be read in conjunction
with  such  policies  and  other  disclosures  in  the  1997  Form  10-K.

     Certain  reclassifications  have been made to 1997 financial information to
conform  with  the  1998 presentation.  These reclassifications had no effect on
net  income  or  earnings  per  share  as  previously  reported.

1.          BUSINESS  DEVELOPMENTS
--          ----------------------

     NRG ENERGY, INC. (NRG) - On March 31, 1998, NRG and its 50 percent partner,
NGC  Corporation  (NGC),  concluded the acquisition of the Long Beach Generating
Station, one of two Southern California Edison plants awarded to the NRG and NGC
consortium.    The Long Beach Station is a gas-fired plant comprised of seven 60
megawatt  gas  turbine generators and two steam turbines totaling 140 megawatts.
During  April  1998, NRG and NGC, concluded the acquisition of the second plant,
El  Segundo  Generating  Station  for approximately $88 million.  The El Segundo
Generating  Station  is  a  gas-fired  plant  with  a  capacity  rating of 1,020
megawatts.

     During  April  1998,  NRG  exercised  its  option  to  acquire 16.8 million
convertible,  non-voting  preference shares of Energy Developments Limited (EDL)
for  $24.8  million, bringing NRG's total investment in EDL to $48.8 million for
an  ownership interest of approximately 35 percent.  NRG had previously invested
in  EDL in 1997.  EDL is a listed Australian company that owns 189 megawatts and
operates  238  megawatts  of  generation  throughout  Australia  and  the United
Kingdom.

     ENERGY  MASTERS  INTERNATIONAL,  INC.  (EMI) - In April 1998, EMI signed an
agreement  to  sell  its  interest  in  the joint venture, Enerval, to its joint
venture  partner.  Closing  of the sale is contingent on approval by the Federal
Trade  Commission  and  is  expected to occur during the second quarter of 1998.
EMI's  investment in and advances to Enerval were written down to an estimate of
their  net realizable value in 1997 and therefore the transaction is expected to
have  an  immaterial  impact  on  1998  earnings.

     VIKING  GAS  TRANSMISSION  COMPANY  (VIKING)  -  On  April  21, 1998, NSP's
subsidiary,  Viking,  withdrew  from  participation  in  the  proposed  Voyageur
pipeline  project,  which would have carried natural gas from Emerson, Manitoba,
to  Joliet,  Ill., allowing communities along the way in Minnesota and Wisconsin
to tap into it.  The pipeline had been scheduled to begin service on November 1,
1999.

     Projections  show  that  natural  gas demand in the upper Midwest will rise
sharply  in  the  years  ahead, and the project has received strong support from
businesses,  economic  development  groups, gas distribution companies and state
energy agencies.  Although Viking believes a pipeline project will go forward in
the  future  to  meet  this  demand,  the  Voyageur proposal did not receive the
necessary  producer  support  to  make the project viable at this time under the
proposed  schedule.

     As  of  March 31, 1998, Viking had deferred $6.1 million in project-related
costs,  including  $1.6  million  of  amounts paid by Viking and $4.5 million of
estimated  amounts  payable  to  Voyageur  based  upon  the  assumed  40 percent
participation  in the partnership.  As a result of withdrawing from the project,
the  amount  payable  to  Voyageur  and  the  portion  of Viking's investment in
Voyageur  that  would  be  subject  to  write-off  may  be less than the amounts
deferred.

     UNION  NEGOTIATIONS - Five local unions of the International Brotherhood of
Electrical  Workers  have  accepted  NSP's  proposal  to  begin midterm contract
negotiations  to  modify  or  create new work rules, practices and operations to
improve  workforce productivity.  If these midterm negotiations are successfully
completed  by Dec. 31, 1998, the Company will then propose a three-year contract
extension  including  negotiated changes to wages and benefits.  If the contract
extension  is  ratified,  new terms and conditions will become effective Jan. 1,
2000.   The existing agreements will stay in effect through Dec. 31, 1999 unless
the  contract  is  extended  as  discussed  above.

     INDUSTRY  RESTRUCTURING  - On April 28, 1998, 1997 Wisconsin Act 204 became
law  (Act  204).    Act 204 includes provisions which require the Public Service
Commission  of Wisconsin (PSCW) to order a public utility that owns transmission
facilities  to transfer control of its transmission facilities to an independent
system  operator  (ISO)  or  divest  the  public  utility's  interest  in  its
transmission facilities to an independent transmission owner (ITO) if the public
utility has not already transferred control  to an ISO  or divested to an ITO by
June  30,  2000.  Under  certain  circumstances  the PSCW has authority to waive
imposition  of  such  an  order  on  June 30, 2000.   At Dec. 31, 1997, Northern
States  Power  Company,  a  Wisconsin  Corporation (the Wisconsin Company) owned
approximately  2,390  miles  of  transmission  lines  with a book value of $87.9
million.  The  Wisconsin  Company may attempt to obtain legislative amendment in
1999  of  the  mandatory  transfer  or  divestiture  requirements  and  is  also
considering  whether  to  judicially  challenge  the  transmission  transfer  or
divestiture  requirements  of  the  new  law.

2.          REGULATION  AND  RATE  MATTERS
--          ------------------------------

     MINNESOTA  PUBLIC  UTILITIES  COMMISSION (MPUC) - During December 1997, NSP
filed  for  a general increase in Minnesota retail gas rates of $18.5 million or
5.5  percent  on an annualized basis.  NSP requested an interim rate increase of
$15.6 million or 4.6 percent on an annualized basis, and received approval of an
interim  rate increase totaling $13.9 million on an annualized basis, subject to
refund,  effective  February  1,  1998.    In May 1998, the Department of Public
Service  filed  testimony recommending an annual rate increase of $12.3 million.
Hearings  will  begin  in  May 1998 and a final decision by the MPUC is expected
late  in  the  third  quarter  of  1998.

     PUBLIC  SERVICE  COMMISSION OF WISCONSIN (PSCW) - During November 1997, the
Wisconsin  Company  filed  retail  electric  and  gas  rate  cases with the PSCW
requesting  an annual increase of approximately $12.7 million, or 4.3 percent in
retail  electric rates and an annual decrease of $1.7 million, or 1.9 percent in
retail gas rates.  In April 1998, the PSCW staff filed testimony recommending an
annual rate increase of $3.8 million in retail electric rates and an annual rate
decrease  of  $2.5 million in retail gas rates based on a much lower recommended
return on common equity of 11.25 percent.  In a recent rate case decision by the
PSCW  for  a large Wisconsin utility, a 12.2 percent return on common equity was
found reasonable. Although the Wisconsin Company requested that the rates become
effective  in  the  second  quarter of 1998, a final decision by the PSCW is not
expected  until the third quarter of 1998, which may delay implementation of new
rates.

     FEDERAL  ENERGY  REGULATORY  COMMISSION  (FERC) - During February and March
1998,  NSP  filed  electric  point-to-point and network integration transmission
service  (NTS) rate cases with FERC.  NSP proposed that both rate changes become
effective  May  1,  1998.  The proposed point-to-point rates would, if approved,
provide  an  annual  increase  in  third  party  transmission service revenue of
approximately $3 million, plus a $1 million annual increase in ancillary service
revenues.   The NTS tariff change would, if approved, reduce NTS costs from 1997
accrued  levels.

     During  April  1998, FERC voted to accept the rates, consolidate the cases,
and  defer the effective date of the rate changes to Oct. 1, 1998.  The proposed
increases  in  point-to-point  and  ancillary service rates would be placed into
effect  subject  to  refund.  An administrative law judge and a settlement judge
were  appointed  to  hear  arguments  and facilitate possible settlements in the
case.

3.          COMMITMENTS  AND  CONTINGENT  LIABILITIES
--          -----------------------------------------

     LEGISLATIVE  RESOURCE  COMMITMENTS  -  In  1994,  the Minnesota Legislature
established  several energy resource and other commitments for NSP to fulfill as
part  of  its  approval  of  NSP's  Prairie  Island  nuclear  generating plant's
temporary  nuclear  fuel  storage  facility,  as  discussed in NSP's 1997 Annual
Report  on  Form  10-K.

     During  April  1998,  a  final  agreement was signed with Lake Benton Power
Partners  II  LLC  for 103.50 megawatts of wind energy.  This brings NSP's total
contracted  wind  energy  to  approximately  269  megawatts.

     POTENTIAL  REFUND  -  During  September  1997,  the  FERC ruled that Kansas
natural  gas  producers  must  refund Kansas ad valorem tax improperly collected
from  1983  to  1988  plus  interest.   During this period, Northern Natural Gas
Company had bought gas from Kansas producers and resold it to NSP.  However, the
Kansas  producers  are  appealing  the  FERC order and are also pursuing federal
legislation to overturn the FERC order.  To date, NSP has received approximately
$4.7  million in these refunds but has deferred their recognition by recording a
regulatory liability.  NSP requested rule waivers from state regulatory agencies
to  defer  passing  these refunds through to NSP customers pending resolution of
the  litigation  and  legislation.

     During  April  1998,  the  MPUC  voted  to  grant  a rule waiver to all six
Minnesota  investor  owned  gas  utilities and approved a deferral of the refund
obligation  for  the Kansas ad valorem taxes, with the interest to be accrued on
the  unrefunded  balance  limited to the interest actually earned on an external
account.      During  April  1998,  the  North  Dakota Public Service Commission
(NDPSC) approved  a  similar  waiver  except  the interest to be acccrued is to
be at the rate set by NDPSC rule.

4.  REPORTING  CHANGES
----------------------

     In June 1997, the Financial Accounting Standards Board issued Statement No.
130,  "Reporting  Comprehensive  Income".    The  Statement  requires  that  an
enterprise (a) classify items of other comprehensive income by their nature in a
financial  statement  and  (b)  display  the  accumulated  balance  of  other
comprehensive  income  separately  from retained earnings and additional paid-in
capital  in  the  equity  section  of  a  statement  of financial position.  The
Statement  is  effective  for  NSP  in  1998.

     NSP's  other  comprehensive  income  consists  of  currency  translation
adjustments  related  to  NRG's  investments  in  international  projects.   The
currency  translation  adjustments  for  the three month periods ended March 31,
1998  and  1997,  reduced  common stock equity and other comprehensive income by
$3.2  million  and  $3.5  million,  respectively.



<PAGE>
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
--------------------------------------------------------------------------------
                                  OF OPERATION
                                  ------------

     Except  for  the  historical  statements  contained  herein,  the  matters
discussed  in  the  following  discussion  and  analysis  are  forward-looking
statements  that  are  subject  to certain risks, uncertainties and assumptions.
Such  forward-looking  statements are intended to be identified in this document
by  the  words  "anticipate",  "estimate",  "expect",  "objective",  "possible",
"potential"  and  similar  expressions.    Actual  results  may vary materially.
Factors  that  could  cause actual results to differ materially include, but are
not  limited to:  general economic conditions, including their impact on capital
expenditures;  business  conditions in the energy industry; competitive factors;
unusual weather; changes in federal or state legislation; regulation; the higher
degree of risk associated with the Company's nonregulated businesses as compared
to  the  Company's  regulated business; the items set forth below under "Factors
Affecting Results of Operations"; and the other risk factors listed from time to
time by the Company in reports filed with the Securities and Exchange Commission
(SEC), including Exhibit 99.01 to this report on Form 10-Q for the quarter ended
March  31,  1998.

RESULTS  OF  OPERATIONS

     Northern  States  Power  Company's earnings per share for the first quarter
ended  March  31, 1998 were 73 cents, down 17 cents from the 90 cents earned for
the  same  period  a  year  ago.

FACTORS  AFFECTING  RESULTS  OF  OPERATIONS
-------------------------------------------

     In addition to items noted in the 1997 Form 10-K, the historical and future
trends  of  NSP's operating results have been and are expected to be affected by
the  following  factors:

     NONREGULATED  BUSINESS  RESULTS  -    The following summarizes the earnings
contributions  of  NSP's  nonregulated  businesses:





<TABLE>
<CAPTION>

                                      3 Months Ended
                                    -------------------                 
<S>                                 <C>        <C>
                                     3/31/98    3/31/97 
                                    ---------  ---------
NRG Energy, Inc. . . . . . . . . .  $   0.08   $   0.10 
Eloigne Company. . . . . . . . . .      0.02       0.01 
Energy Masters International, Inc.     (0.03)     (0.02)
Other. . . . . . . . . . . . . . .      0.02       0.02 
                                    ---------  ---------
  Total. . . . . . . . . . . . . .  $   0.09   $   0.11 
                                    ---------  ---------

</TABLE>

     Due  to  the  nature of these nonregulated businesses, NSP anticipates that
the  earnings from nonregulated operations will experience more variability than
regulated  utility  businesses.  As discussed later, NSP's nonregulated earnings
in  the  three-month  period  ended  March  31,  1998  are  experiencing  such
variability.

     ESTIMATED  IMPACT  OF WEATHER ON REGULATED EARNINGS - NSP estimates utility
sales levels under normal weather conditions and analyzes the approximate effect
of  variations from historical average temperatures on actual sales levels.  The
following summarizes the estimated impact of weather on actual utility operating
results  (in  relation  to  sales  under  normal  weather  conditions):


<TABLE>
<CAPTION>

                                           Increase (Decrease)
                                        Actual    Actual    Actual
                                        1998 vs   1997 vs  1998 vs                                                               
                                        Normal    Normal     1997
                                       ---------  -------  --------     
<S>                                    <C>        <C>      <C>
Earnings per Share for:
  Quarter Ended March 31               ($0.16)    $ 0.03   ($0.19)

</TABLE>


FIRST  QUARTER  1998  COMPARED  WITH  FIRST  QUARTER  1997
----------------------------------------------------------

Utility  Operating  Results
---------------------------

     ELECTRIC  REVENUES  for  the  first quarter of 1998 compared with the first
quarter  of  1997  increased  $2.4  million  or  0.5  percent.   Retail revenues
decreased  approximately  $3.0  million largely due to a 0.5 percent decrease in
retail  electric  sales  volume.  The decrease in retail electric sales reflects
less  favorable weather, partially offset by sales growth.  The first quarter of
1998  was  one  of  the  warmest first quarters on record.  Sales for resale and
other  electric  revenues  increased  $5.4 million primarily due to higher sales
volumes  in  the resale market as a result of more aggressive marketing efforts,
increased  transmission  of  electricity  for  others,  and conservation program
revenues.

     GAS  REVENUES for the first quarter of 1998 decreased $43.5 million or 19.5
percent  compared  with  the  first  quarter  of  1997.   Gas revenues decreased
primarily  due to a 12.2 percent decrease in gas sales volume and a 11.2 percent
average  price  decrease.    The  sales volume decrease is due primarily to less
favorable  weather  in  1998  in  comparison  to 1997, partially offset by sales
growth.    The  price  decrease  is mainly due to rate adjustments for decreased
purchased  gas  costs  resulting  from  market  changes in wholesale natural gas
prices  partially offset by interim rate increases as discussed in Note 2 to the
Financial  Statements.  Partially offsetting these decreases were a $2.5 million
increase  in  other  gas  revenues,  primarily due to higher sales to off-system
users,  and  a  $1.3  million  increase  in transportation revenues from Viking.

     FUEL  FOR  ELECTRIC  GENERATION and PURCHASED AND INTERCHANGE POWER expense
combined  increased  $8.6  million  or 6.1 percent for the first quarter of 1998
compared  with  the first quarter of 1997. Purchased and interchange power costs
increased  $14.2 million primarily due to more purchases to support higher sales
for resale and because of more scheduled outages at NSP's generating plants.  In
addition,  purchased power costs increased due to higher demand expenses related
to a contract which began in October 1997.  Partially offsetting these increases
was  lower  fuel  expense,  which  decreased $5.7 million primarily due to lower
average  fuel  prices  and  less output from NSP's generating plants.  The lower
fuel  prices  are  a  result  of  lower rail transportation rates, and the lower
output  is  a  result  of  scheduled  plant  maintenance  outages.

     COST  OF  GAS  PURCHASED  AND  TRANSPORTED  for  the  first quarter of 1998
compared  with the first quarter of 1997 decreased $38.4 million or 25.3 percent
due to the lower cost of gas and lower gas sendout.  The lower cost of purchased
gas  reflects changes in market conditions and purchased gas cost adjustments to
match  expense  with  rate recovery.  The lower sendout primarily is a result of
decreased  gas  sales.

     OTHER  OPERATION,  MAINTENANCE  AND  ADMINISTRATIVE  AND  GENERAL  expenses
together  increased  $6.2 million or 3.7 percent compared with the first quarter
of  1997.    The increases are primarily due to higher insurance costs, mainly a
result  of  an  insurance  refund  in  1997,  and  higher  costs for information
technology  improvements  and  employee  benefits.

     DEPRECIATION AND AMORTIZATION expense increased $4.3 million or 5.3 percent
compared  with  the  first  quarter  of  1997.    The  increase is mainly due to
increased  plant  in  service  between  the  two  periods.

     PROPERTY  AND GENERAL TAXES for the first quarter of 1998 compared with the
first  quarter  of  1997  decreased $5.4 million or 8.8 percent due primarily to
lower  property  taxes  reflecting  recent  legislation    and lower payroll and
franchise  taxes.

     UTILITY  INCOME  TAXES  for  first quarter 1998 compared with first quarter
1997 were $6.5 million less primarily due to lower operating income in the first
quarter  of  1998.

     OTHER  UTILITY  INCOME  (DEDUCTIONS)  -  NET  after applicable income taxes
increased  $3.0  million  mainly  due to timing of donations and higher interest
income  compared  to  1997.

     ALLOWANCE  FOR  FUNDS USED DURING CONSTRUCTION (AFC) decreased $1.6 million
in 1998 largely due to lower returns as a result of less capital used to finance
conservation  and  energy  management  programs  and fewer construction projects
eligible  for  AFC.

     UTILITY  INTEREST  AND  AMORTIZATION  decreased $1.7 million or 5.7 percent
primarily  due  to  lower  levels  of  commercial  paper, retirement of bonds in
October 1997 and lower interest rates on variable-rate long term debt, partially
offset  by  new  bonds  issued  in  March  1998.

     DISTRIBUTIONS  ON  REDEEMABLE  PREFERRED  SECURITIES  OF  SUBSIDIARY  TRUST
increased  $1.3  million  due  to the issuance of new securities in late January
1997.

     PREFERRED STOCK DIVIDENDS AND REDEMPTION PREMIUMS decreased $1.6 million in
the  first  quarter  of  1998  compared with 1997 primarily due to reductions in
dividends  resulting  from  the  redemption  of two issues of preferred stock in
February  1997.

     AVERAGE  COMMON SHARES OUTSTANDING increased due to stock issuances, mainly
a  public  offering  in  September 1997.  Share dilution has decreased regulated
1998  earnings  by  approximately  five  cents  per share in comparison to 1997.

Nonregulated  Business  Results
-------------------------------

     NSP's nonregulated operations include diversified businesses, such as NRG's
businesses,  which  are  primarily  independent power production, commercial and
industrial  heating  and  cooling,  and  energy-related  refuse-derived  fuel
production.    In  addition, EMI's primary business is energy sales and service.
NSP  also has investments in affordable housing projects through Eloigne Company
and  several  income-producing  properties  through  other  subsidiaries.    The
following  summarizes  NSP's  diversified  business  results  in  the aggregate,
including  consolidated  subsidiaries  and  unconsolidated  affiliates.



<TABLE>
<CAPTION>

                                            3 Mos. Ended
                                        ------------------                 
<S>                                    <C>        <C>
(Thousands of dollars, except EPS). .   3/31/98    3/31/97 
                                       ---------  ---------
Operating revenues. . . . . . . . . .  $ 42,009   $ 63,967 
Equity in earnings of unconsolidated
   affiliates . . . . . . . . . . . .    15,606      7,095 
Operating and development expenses. .   (52,786)   (66,939)
Other income (expense). . . . . . . .      (449)     2,526 
                                       ---------  ---------
Income from nonregulated businesses
   before interest and  taxes . . . .     4,380      6,649 
Interest expense. . . . . . . . . . .   (12,278)    (4,961)
Income tax benefit. . . . . . . . . .    14,271      5,831 
                                       ---------  ---------
Net income. . . . . . . . . . . . . .  $  6,373   $  7,519 
-------------------------------------  ---------  ---------
Contribution of nonregulated
   businesses to NSP earnings per
   share. . . . . . . . . . . . . . .  $   0.09   $   0.11 
-------------------------------------  ---------  ---------
</TABLE>




     In  the  aggregate,  one  cent  per  share  of the decrease in nonregulated
earnings  contribution  is  due to share dilution resulting primarily from NSP's
stock  offering  in  September  1997.

     NRG  -  NRG's first quarter earnings decreased by 2 cents per share in 1998
from  the same period one year ago primarily due to increases in interest costs,
business  development  expenses,  and  costs  of  expanded  operations.   Higher
interest costs reflect the issuance of $250 million senior notes in mid-1997 and
higher  line  of  credit  borrowings.    Earnings,  including  tax credits, from
interests  in  Pacific Generation Company, Loy Yang, Energy Developments Limited
and  other  new  projects,  all purchased after the first quarter of 1997, along
with  increased  earnings  from existing projects partially offset the decrease.

     EMI  -  EMI's  first  quarter  losses increased by 1 cent per share in 1998
compared with 1997, primarily due to lower energy services margins and increased
expenses  associated  with  new  businesses  acquired  in  July  1997.

LIQUIDITY  AND  CAPITAL  RESOURCES

     Commercial  banks  currently  provide  credit  lines of $300 million to the
Company.   These credit lines make short-term financing available in the form of
bank  loans,  letters  of  credit  and  support for commercial paper sales.  The
Company  has  regulatory  approval  for  up  to  approximately  $575  million in
short-term  borrowing  levels.

     In  addition  to  Company  lines, commercial banks currently provide credit
lines of approximately $317 million to wholly owned subsidiaries of the Company.
At  March  31,  1998,  approximately $125 million in borrowings were outstanding
under  these credit lines.  In addition, approximately $41 million in letters of
credit  were  outstanding,  which  reduced  the  credit  lines  available  to
subsidiaries at March 31, 1998, and therefore left approximately $151 million of
unused  lines  available  at  that  date.

     In  January  1998,  stock  options  for the purchase of 285,878 shares were
awarded  under the Company's Executive Long-Term Incentive Award Stock Plan (the
Plan).   These options are not exercisable for approximately twelve months after
the  award  date.  As of March 31, 1998, a total of 1,298,760 stock options were
outstanding,  which  were  considered  potentially  dilutive  common  shares for
calculating  earnings  per  share  -  assuming dilution.  During the first three
months  of 1998, the Company has issued 107,059 new shares of common stock under
the  Plan pursuant to the exercise of options and awards granted in prior years.
Under  NSP's  Dividend  Reinvestment  and  Stock  Purchase Plan, the Company has
issued  135,699  shares  of  common stock during the first three months of 1998.
During  1998  the Company has issued an additional 56,881 shares of common stock
to  the  Employee  Stock  Ownership  Plan  (ESOP).

     On  April 2, 1998, the Company issued 255,863 shares of common stock to the
leveraged  ESOP  which  was  financed  by  a  $15  million  bank  loan.

     On  March  11, 1998, the Company issued $100 million of 5.875 percent First
Mortgage  Bonds due March 1, 2003 and $150 million of 6.5 percent First Mortgage
Bonds due March 1, 2028.  A portion of the proceeds was used to redeem preferred
stock  and  certain  First  Mortgage  Bonds,  as  discussed below, and to reduce
short-term  debt  balances.

     On  March  31,  1998, the Company redeemed 300,000 shares of its cumulative
preferred  stock  adjustable  rate series A and 650,000 shares of its cumulative
preferred  stock adjustable rate series B both at $100 per share plus dividends.

     On  April 22, 1998, NSP shareholders approved an amendment to the Company's
Restated  Articles  of Incorporation to increase the number of authorized common
shares  from  160  million  to  350  million.

     On  April  22,  1998,  the  Company's  Board  of  Directors  authorized  a
two-for-one stock split effective June 1, 1998 for shareholders of record on May
18,  1998.   The total number of additional shares to be distributed to complete
the  stock  split  is  expected  to  be  approximately  75.4  million.

     On  April  27,  1998, the Company redeemed $50 million of 7.375 percent and
$50  million  of  7.5  percent  First  Mortgage  Bonds.




                           PART II.  OTHER INFORMATION

                           ITEM 1.  LEGAL PROCEEDINGS
                           --------------------------
     In  the  normal course of business, various lawsuits and claims have arisen
against NSP.  Management, after consultation with legal counsel, has recorded an
estimate  of  the  probable  cost  of  settlement  or other disposition for such
matters.

     In  1994,  the  Company  along  with  other major utilities filed a lawsuit
against  the  Department  of  Energy  (DOE)  in  an attempt to clarify the DOE's
obligation  to  dispose  of spent nuclear fuel beginning not later than Jan. 31,
1998.    The  suit  was  filed  in the U.S. Court of Appeals for the District of
Columbia  Circuit  (Court).    Since  then, the Company and other utilities have
filed  additional  lawsuits with the Court related to this issue.  The Court has
confirmed  the  unconditional obligation of the DOE to begin acceptance of spent
nuclear  fuel  by the 1998 deadline and that the obligation exists under statute
and  contract.  (See detailed discussion in the Company's 1997 Form 10-K, Item 3
-  Legal  Proceedings).

     On  Feb.  19,  1998, the Company and other utilities brought motions asking
the  Court  to order the DOE to develop a disposal program to dispose of nuclear
fuel beginning immediately; relief from an obligation to pay fees to the Nuclear
Waste  Fund  (Fund)  and  allowing  escrow    of  the  funds until the DOE is in
compliance;  prohibition  of any suspension or termination of the DOE's disposal
contract; and prevention of the DOE from paying damages related to the breach of
obligation  from  the  Fund.    On  May  5, 1998, the Court dismissed the motion
brought  by  the  Company and other utilities.  The Court reiterated its earlier
finding  that the proper remedy for the utilities is under the Standard Contract
between  utilities  and  the  DOE.

     The Company is analyzing and preparing continuing legal actions against the
DOE  to enforce its statutory and contractual obligations.  In addition, NSP and
other utilities are analyzing claims against the DOE for the costs incurred as a
result  of  the DOE's failure to meet its statutory and contractual obligations.

          ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
          ------------------------------------------------------------
The  Annual  Meeting  of Shareholders of the Company was held on April 22, 1998,
for  the purpose of voting on the matters listed below.  Proxies for the meeting
were solicited pursuant to Section 14(a) of the Securities Exchange Act of 1934,
as  amended,  and  there  was  no  solicitation  in  opposition  to management's
solicitations.    All  of  management's  nominees for directors as listed in the
proxy  statement  were  elected.   The matters before the meeting and the voting
results  were  as  follows:

1.      A proposal to elect three directors to Class III to serve until the 2001
Annual  Meeting  of  Shareholders;


<TABLE>
<CAPTION>

Election of Director    Shares Voted For  Withheld Authority
----------------------  ----------------  ------------------
<S>                     <C>               <C>
H. Lyman Bretting. . .        64,402,369           1,261,175
David A. Christensen .        64,329,138           1,334,407
Dr. Margaret R. Preska        64,259,578           1,403,966

</TABLE>

2.    A  proposal  to  amend the Company's Restated Articles of Incorporation to
increase the number of shares of authorized common stock from 160 million shares
to  350  million  shares;

<TABLE>
<CAPTION>

<S>               <C>
Shares Voted For  51,002,164
Voted Against. .   3,946,316
Voted Abstain. .     715,065

</TABLE>

3.    A  proposal to approve the amendments to the Company's Executive Long-Term
Incentive  Award  Stock  Plan;


<TABLE>
<CAPTION>

<S>               <C>
Shares Voted For  33,962,777
Voted Against. .  21,584,370
Voted Abstain. .   1,480,703

</TABLE>

The  number  of  broker  non-votes  on  this  proposal  was  8,635,693.


4.    A proposal to approve the Company's Executive Annual Incentive Award Plan;


<TABLE>
<CAPTION>

<S>               <C>
Shares Voted For  57,256,058
Voted Against. .   6,811,854
Voted Abstain. .   1,595,633

</TABLE>

5.   A proposal to ratify the appointment of Price Waterhouse LLP as independent
accountants  for  NSP  for  1998;

<TABLE>
<CAPTION>

<S>               <C>
Shares Voted For  63,305,998
Voted Against. .   1,900,975
Voted Abstain. .     456,571

</TABLE>

6.    A "Shareholder Resolution on Conversion of Prairie Island Nuclear Plant to
Natural  Gas  Plant";

<TABLE>
<CAPTION>

<S>               <C>
Shares Voted For   3,118,898
Voted Against. .  51,471,853
Voted Abstain. .   2,465,347

</TABLE>

The  number  of  broker  non-votes  on  this  proposal  was    8,607,445.



<PAGE>
                                     
                    ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K
                    -----------------------------------------
(A)    EXHIBITS

The  following  Exhibits  are  filed  with  this  report:

  10.01     Executive  Annual  Incentive  Award  Plan.

  10.02     Amended and Restated Executive Long-Term Incentive Award Stock Plan.

  10.03     Amended and Restated Summary of Terms and Conditions of Employment
            of James J. Howard.

  27.01     Financial Data Schedule for the three months ended March 31, 1998.

  99.01     Statement pursuant to Private Securities Litigation Reform Act of
            1995.


(B)    REPORTS  ON  FORM  8-K

     The following reports on Form 8-K were filed either during the three months
ended  March  31,  1998,  or between March 31, 1998 and the date of this report:

Dec.  31,  1997  (Filed March 5, 1998) - Item 5. Other Events. Item 7. Financial
Statements  and  Exhibits.  Re:  Disclosure of agreement and plan of merger with
Black  Mountain  Gas  Company  of  Cave  Creek,  Arizona.

March  4,  1998  (Filed March 4, 1998) - Item 5. Other Events. Item 7. Financial
Statements  and Exhibits. Re: Disclosure of the Company's consolidated financial
statements  for  the  year  ended  Dec.  31,  1997  and the related management's
discussion  and  analysis.

March  5,  1998  (Filed March 5, 1998) - Item 5. Other Events. Item 7. Financial
Statements  and  Exhibits.  Re: Disclosure of announcement that the Company will
redeem  all  300,000  shares  of  its Cumulative Preferred Stock Adjustable Rate
Series  A  and  all  650,000 shares of its Cumulative Preferred Stock Adjustable
Rate  B  on  March  31,  1998.

March  11, 1998 (Filed March 16, 1998) - Item 5. Other Events. Item 7. Financial
Statements  and  Exhibits.  Re:  Disclosure  of  the  Company  entering into two
underwriting  agreements  and  filing  of two prospectus supplements relating to
$250,000,000,  in  aggregate  principal  amount  of the Company's First Mortgage
Bonds.

April  21,  1998 (Filed April 22, 1998) - Item 5 Other Events. Re: Withdrawal of
NSP's  subsidiary,  Viking  Gas  Transmission Company, from participation in the
proposed  Viking  Voyageur  pipeline  project.

April  22, 1998 (Filed April 23, 1998) - Item 5. Other Events. Item 7. Financial
Statements  and  Exhibits.  Re:  Disclosure  of the Company's Board of Directors
authorization  of  a  two-for-one  stock  split  effective  June  1,  1998  for
shareholders  of  record  on  May  18,  1998.


<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.

                              NORTHERN  STATES  POWER  COMPANY (Registrant)



                              /s/
                              ------------------------------------

                              Roger  D.  Sandeen
                              Vice President  and  Controller




                              /s/
                              ------------------------------------
                              John  P.  Moore,  Jr.
                              Corporate  Secretary


Date:    May  15,  1998
         --------------



<PAGE>

EXHIBIT  INDEX

METHOD  OF  FILING       EXHIBIT  NO.        DESCRIPTION

DT                       10.01               Executive Annual Incentive Award 
                                             Plan.

DT                       10.02               Amended and Restated Executive  
                                             Long-Term Incentive Award Stock 
                                             Plan.

DT                       10.03               Amended and Restated Summary of 
                                             Terms and Conditions of 
                                             Employment of James J.  Howard.

DT                       27.01               Financial Data Schedule for the 
                                             three months ended March 31, 1998.

DT                       99.01               Statement pursuant to Private 
                                             Securities Litigation Reform 
                                             Act of 1995.

DT  =  Filed  electronically  with  this  direct  transmission.



