ALLETE has entered an agreement to be acquired by a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners and start the process to become a private company. Learn more at www.ALLETEforward.com.
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                       Securities and Exchange Commission
                             Washington, D.C. 20549


                                   FORM 10-Q/A
                                 Amendment No. 1


(Mark One)

|X|   Quarterly Report Pursuant to Section 13 or 15(d) of the Securities 
      Exchange Act of 1934

For the quarterly period ended March 31, 1995

                                       or

|_|   Transition Report Pursuant to Section 13 or 15(d) of the Securities 
      Exchange Act of 1934



                           Commission File No. 1-3548


                         Minnesota Power & Light Company
                             A Minnesota Corporation
                   IRS Employer Identification No. 41-0418150
                             30 West Superior Street
                             Duluth, Minnesota 55802
                           Telephone - (218) 722-2641


         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 and (2) has been  subject to such  filing
requirements for the past 90 days.
                  Yes     X      No
                        ----          ----



                           Common Stock, no par value,
                          31,282,063 shares outstanding
                              as of April 30, 1995



Item 6.    Exhibits and Reports on Form 8-K

(a)     Exhibits

        27    Financial Data Schedule

        Due to  reclassifications  made for the  discontinuance of the paper and
pulp  business  as of June  30,  1995,  Minnesota  Power & Light  Company's
financial  data schedule for the period ended March 31, 1995 has been restated
as follows:

         [RESTATED]
         [GROSS-OPERATING-REVENUE]                              146,686
         [INCOME-TAX-EXPENSE]                                   (15,401) 
         [OTHER-OPERATING-EXPENSES]                             120,911
         [TOTAL-OPERATING-EXPENSES]                             132,011
         [OPERATING-INCOME-LOSS]                                  8,404
         [OTHER-INCOME-NET]                                      (4,619) 
         [INCOME-BEFORE-INTEREST-EXPEN]                          36,557
         [TOTAL-INTEREST-EXPENSE]                                11,100
         [TOTAL-INTEREST-ON-BONDS]                                    0


 Includes tax benefits related to Lehigh Acquisition Corporation,  Minnesota
     Power's real estate company.

 Includes Loss from Equity Investments and Income from Discontinued 
     Operations.


                                      -1-




                                   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.




                                              Minnesota Power & Light Company
                                             ---------------------------------
                                                       (Registrant)





December 20, 1996                                      D. G. Gartzke
                                             ---------------------------------
                                                       D. G. Gartzke
                                              Senior Vice President - Finance
                                                and Chief Financial Officer





December 20, 1996                                      Mark A. Schober
                                             ---------------------------------
                                                       Mark A. Schober
                                                    Corporate Controller

                                      -2-

 


 UT

THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM MINNESOTA
POWER'S CONSOLIDATED BALANCE SHEET, STATEMENT OF INCOME, AND STATEMENT OF CASH
FLOW FOR THE PERIOD ENDED MARCH 31, 1995, AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.


 1,000
       
                                        
                              3-MOS
                          DEC-31-1995
                             JAN-01-1995
                               MAR-31-1995
                                  PER-BOOK
                    1,083,694
                    357,922
                         244,328
                       100,682
                                       0
                               1,786,626
                                       371,974
                            0
                            282,384
                 576,610
                                0
                                     48,547
                           600,629
                              30,167
                            0
                       0
                   12,818
                            0
                          0
                                     0
                 440,107
                1,786,626
                      146,686
                           (15,401)
                     120,911
                     132,011
                          8,404
                              (4,619)
                  36,557
                        11,100
                                    25,457
                        800
                   24,657
                        14,920
                            0
                          43,424
                                      .87
                                      .87

Includes tax benefits related to Lehigh Acquisition Corporation, Minnesota
    Power's real estate company.
Includes Loss from Equity Investments and Income from Discontinued 
    Operations.