1. In 2-qt.
2. saucepan place potatoes.
3. Add enough water to cover; bring to a full boil.
4. Cook over medium heat, stirring occasionally, until potatoes are tender (about 10 to 15 minutes).
5. Meanwhile, in 10 skillet, cook bacon over medium high heat, stirring occasionally, until partially cooked (about 4 minutes).
6. Add onion; continue cooking until browned.
7. Drain off fat except for 2 tablespoons; set bacon and onion aside.
8. Stir flour, thyme leaves, salt and pepper into reserved 2 tablespoons of fat.
9. Cook over medium heat, stirring constantly until smooth and bubbly (about 30 seconds).
10. Stir in Whipping cream, peas, bacon, onion and potatoes.
11. Continue cooking, stirring occasionally, until mixture thickens and is heated through (about 3 to 4 minutes).