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                       Securities and Exchange Commission
                              Washington, DC 20549





                                   FORM 8-K/A
                                 Amendment No. 2

                                 Current Report





     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934





      Date of Report (Date of earliest event reported) - February 27, 1995




                         Minnesota Power & Light Company

                             A Minnesota Corporation
                           Commission File No. 1-3548
                   IRS Employer Identification No. 41-0418150
                             30 West Superior Street
                             Duluth, Minnesota 55802
                           Telephone - (218) 722-2641



Item 7.    Financial Statements and Exhibits

(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 December 31, 1994 has been restated
as follows:

         [RESTATED]
         [GROSS-OPERATING-REVENUE]                                582,169
         [INCOME-TAX-EXPENSE]                                      20,657
                                         458,269
         [TOTAL-OPERATING-EXPENSES]                               505,019
         [OPERATING-INCOME-LOSS]                                   80,122
         [OTHER-INCOME-NET]                                         4,840 
         [INCOME-BEFORE-INTEREST-EXPEN]                           108,083
         [TOTAL-INTEREST-EXPENSE]                                  46,750

   Includes Income 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

                                          -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 DECEMBER 31, 1994, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1,000 YEAR DEC-31-1994 JAN-01-1994 DEC-31-1994 PER-BOOK 1,080,382 362,006 266,138 99,272 0 1,807,798 371,178 0 272,646 561,687 0 48,547 601,317 54,098 0 0 12,814 0 0 0 447,198 1,807,798 582,169 20,657 458,269 505,019 80,122 4,840 108,083 46,750 61,333 3,200 58,133 56,664 44,452 116,465 2.06 2.06 Includes Income from Equity Investments and Income from Discontinued Operations.