FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * DUTTON CHRISTOPHER L   2. Issuer Name and Ticker or Trading Symbol GREEN MOUNTAIN POWER CORP [GMP] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Executive Officer (Last) (First) (Middle) 163 ACORN LANE 3. Date of Earliest Transaction (Month/Day/Year) 07/03/2006 (Street) COLCHESTER, VT 05446 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 07/03/2006   M(1)   1,500 A $ 7.9 42,247.7567 (2) D   Common Stock 07/03/2006   S(1)   1,500 D $ 33.79 40,747.7567 (2) D   Common Stock               6,412.9543 (3) I By 401(k) plan Common Stock               62.3418 (4) I By wife for daughter Common Stock               62.3418 (5) I By wife for son

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Options (Right to buy)

$ 7.9

07/03/2006

M(1)

1,500

(6)

08/22/2010

Common Stock

1,500

$ 0

45,500

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
DUTTON CHRISTOPHER L 163 ACORN LANE COLCHESTER, VT 05446	X		Chief Executive Officer

Signatures

Donald J. Rendall, Jr., Attorney-In-Fact		07/06/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(2)	Includes 132.5836 shares acquired between May 23, 2006 and July 3, 2006 under the GMP dividend reinvestment plan. The information in this report is based on a plan statement as of July 3, 2006.
(1)	The exercise of stock options and the sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 21, 2005.
(3)	Includes 118.6392 shares acquired between May 23, 2006 and July 3, 2006 under the GMP 401(k) plan. The information in this report is based on a plan statement as of July 3, 2006.
(6)	The Option is currently exercisable for 45,500 shares.
(4)	These shares are held by the reporting person's wife as custodian for daughter under Uniform Gifts to Minors Act. Includes .5092 shares acquired between May 23, 2006 and July 3, 2006 under the GMP dividend reinvestment plan. The information in this report is based on a plan statement as July 3, 2006.
(5)	These shares are held by the reporting person's wife as custodian for son under Uniform Gifts to Minors Act. Includes .5092 shares acquired between May 23, 2006 and July 3, 2006 under the GMP dividend reinvestment plan. The information in this report is based on a plan statement as of July 3, 2006.

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