Post-Effective Amendment No. 2 to
SEC File No. 70-7926
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM U-1
DECLARATION
UNDER
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 ("Act")
GENERAL PUBLIC UTILITIES CORPORATION ("GPU")
100 Interpace Parkway
Parsippany, New Jersey 07054
JERSEY CENTRAL POWER & LIGHT COMPANY ("JCP&L")
300 Madison Avenue
Morristown, New Jersey 07960
METROPOLITAN EDISON COMPANY ("Met-Ed")
2800 Pottsville Pike
P.O. Box 16001
Reading, Pennsylvania 19640
PENNSYLVANIA ELECTRIC COMPANY ("Penelec")
1001 Broad Street, Johnstown, Pennsylvania 15907
(Names of companies filing this statement and
addresses of principal executive offices)
GENERAL PUBLIC UTILITIES CORPORATION
(Name of top registered holding company parent of applicants)
T. G. Howson, Vice President Douglas E. Davidson, Esq.
and Treasurer Berlack, Israels & Liberman
M. A. Nalewako, Secretary 120 West 45th Street
General Public Utilities Corporation New York, New York 10036
100 Interpace Parkway
Parsippany, New Jersey 07054
R. S. Cohen, Esq. W. Edwin Ogden, Esq.
Jersey Central Power & Light Ryan, Russell, Ogden &
Company Seltzer
300 Madison Avenue 1100 Berkshire Boulevard
Morristown, New Jersey 07960 P.O. Box 6219
Reading, Pennsylvania 19610
W.C. Matthews, II, Secretary Robert C. Gerlach, Esq.
Metropolitan Edison Company Ballard Spahr Andrews &
2800 Pottsville Pike Ingersoll
P.O. Box 16001 1735 Market Street
Reading, Pennsylvania 19640 Philadelphia, Pennsylvania
19103
and
Pennsylvania Electric Company
1001 Broad Street
Johnstown, Pennsylvania 15907
<PAGE>
(Names and addresses of agents for service)<PAGE>
GPU, JCP&L, Met-Ed and Penelec (the "GPU Companies")
hereby post-effectively amend their Declaration on Form U-1,
docketed in SEC File No. 70-7926, as follows:
1. By changing the date in the third sentence of paragraph
F of Post-Effective Amendment No. 1 from "December 31, 1999" to
"Decemeber 31, 1997".
2. By amending the first two paragraphs of paragraph N of
Post-Effective Amendment No. 1 to read in their entirety as
follows:
N. The GPU Companies submit that all of the
criteria of Rules 53 and 54 under the Act with respect
to the issuance and sale of notes proposed herein are
satisfied:
(i) The average consolidated retained
earnings for GPU and its subsidiaries, as reported for
the four most recent quarterly periods in GPU's Annual
Report on Form 10-K for the year ended December 31,
1993 and Quarterly Reports on Form 10-Q for the
quarters ended September 30, 1993, March 31, 1994 and
June 30, 1994, as filed under the Securities Exchange
Act of 1934, was approximately $1.84 billion. At the
date hereof, GPU had invested, or committed to invest,
directly or indirectly, an aggregate of approximately
$12.5 million in exempt wholesale generators ("EWGs")
and $0 in foreign utility companies ("FUCOs"). (GPU
does not own any direct or indirect interest in a
FUCO). Accordingly, GPU's investment in EWGs and
FUCOs, assuming the entire $200 million of gross
proceeds to GPU from the sale of the notes, and $70
million of authorized investment on behalf of GPU's
subsidiary, Energy Initiatives, Inc., in SEC File No.
70-7727, are invested in EWGs or FUCOs, would equal
approximately 15.4% of such average consolidated
retained earnings.
3. By adding the following as a new clause (v) of
paragraph N of Post-Effective Amendment No. 1 thereof:
1<PAGE>
(v) Copies of this Post-Effective
Amendment are being provided to the New Jersey Board of
Public Utilities, the Pennsylvania Public Utility
Commission and the New York Public Service Commission,
the only federal, state or local regulatory agencies
having jurisdiction over the retail rates of GPU's
electric utility subsidiaries. In addition, GPU will
submit to each such commission copies of any Rule 24
certificates required hereunder, as well as a copy of
Item 9 of GPU's Form U5S and Exhibits G and H thereof
(commencing with the Form U5S to be filed for the
calendar year in which the authorization herein
requested is granted).
4. By amending paragraph P of Post-Effective Amendment No.
1 thereof to read in its entirety as follows:
P. The GPU Companies believe that Sections
6(a) and 7 of the Act and Rules 53 and 54 thereunder
are applicable to the issuance, sale and renewal of the
unsecured promissory notes described herein.
5. By amending the first paragraph of paragraph T of Post-
Effective Amendment No. 1 thereof to read in its entirety as
follows:
T. The proceeds from the issuance and sale
of the unsecured promissory notes as proposed herein
will be used by the GPU Companies to finance their
businesses, including, in the case of GPU, to finance
the acquisition of securities of EWGs and FUCOs. As
such, the issuance of an order by your Commission with
respect thereto is not a major federal action
significantly affecting the quality of the human
environment.
2<PAGE>
SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE PUBLIC UTILITY
HOLDING COMPANY ACT OF 1935, THE UNDERSIGNED COMPANIES HAVE DULY
CAUSED THIS STATEMENT TO BE SIGNED ON THEIR BEHALF BY THE
UNDERSIGNED THEREUNTO DULY AUTHORIZED.
GENERAL PUBLIC UTILITIES CORPORATION
JERSEY CENTRAL POWER & LIGHT COMPANY
METROPOLITAN EDISON COMPANY
PENNSYLVANIA ELECTRIC COMPANY
By:________________________________
T.G. Howson, Vice President
and Treasurer
Date: September 16, 1994<PAGE>
