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
                                                                                  
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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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

GAMBLE JOAN F 		2. Issuer Name and Ticker or Trading Symbol

CENTRAL VERMONT PUBLIC SERVICE CORP [ CV ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Vice Pres. - Human Resources &
(Last)          (First)          (Middle)

77 GROVE STREET 		3. Date of Earliest Transaction (MM/DD/YYYY)

11/10/2008
(Street)

RUTLAND, VT 05701-
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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 - $6 Par Value   11/11/2008   11/11/2008   M    3900   A $16.105   5101   D    
Common Stock - $6 Par Value   11/11/2008   11/11/2008   M    5150   A $17.49   10251   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    150   D $19.604   10101   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    100   D $19.62   10001   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    400   D $19.625   9601   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    200   D $19.64   9401   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    100   D $19.642   9301   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    100   D $19.65   9201   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    200   D $19.75   9001   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    100   D $19.764   8901   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    200   D $19.77   8701   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    200   D $19.83   8501   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    100   D $19.88   8401   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    100   D $19.93   8301   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    500   D $19.94   7801   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    100   D $19.952   7701   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    400   D $20.07   7301   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    100   D $20.08   7201   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    100   D $20.14   7101   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    500   D $20.15   6601   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    100   D $20.158   6501   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    500   D $20.16   6001   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    100   D $20.164   5901   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    900   D $20.17   5001   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    300   D $20.175   4701   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    200   D $20.18   4501   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    100   D $20.186   4401   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    100   D $20.188   4301   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    600   D $20.19   3701   D    
Common Stock - $6 Par Value   11/10/2008   11/10/2008   S    100   D $20.20   3601   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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 Option - Right to Buy   $16.105   11/11/2008   11/11/2008   M        3900    5/1/2001   5/1/2011   Common Stock - $6 Par Value   3900   $0   0   D    
Stock Option - Right to Buy   $17.49   11/11/2008   11/11/2008   M        5150    5/6/2003   5/6/2013   Common Stock - $6 Par Value   5150   $0   0   D    

Explanation of Responses:

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
GAMBLE JOAN F
77 GROVE STREET
RUTLAND, VT 05701-

Vice Pres. - Human Resources &

Signatures
/s/ Mary C. Marzec/By POA for Joan F. Gamble 11/12/2008
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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