Post-Effective Amendment No. 6 to
SEC File No. 70-7862
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM U-l
APPLICATION
UNDER
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 ("Act")
JERSEY CENTRAL POWER & LIGHT COMPANY ("JCP&L")
PENNSYLVANIA ELECTRIC COMPANY ("Penelec")
METROPOLITAN EDISON COMPANY ("Met-Ed")
2800 Pottsville Pike
Reading, Pennsylvania 19605
---------------------------
(Name of companies filing this statement and addresses
of principal executive offices)
GPU, INC. ("GPU")
(Name of top registered holding company parent of applicants)
Terrance G. Howson, Douglas E. Davidson, Esq.
Vice President and Treasurer Berlack, Israels & Liberman LLP
Mary A. Nalewako, Secretary 120 West 45th Street
Michael J. Connolly, New York, New York 10036
Assistant General Counsel
GPU Service, Inc.
300 Madison Avenue
Morristown, New Jersey 07962
Scott L. Guibord, Secretary Robert C. Gerlach, Esq.
Jersey Central Power & Ballard Spahr Andrews &
Light Company Ingersoll, LLP
Metropolitan Edison Company 1735 Market Street - 51st Floor
Pennsylvania Electric Company Philadelphia, PA 19103-7599
2800 Pottsville Pike
Reading, Pennsylvania 19605
W. Edwin Ogden, Esq.
Ryan, Russell, Ogden
& Seltzer LLP
1100 Berkshire Boulevard
P.O. Box 6219
Reading, PA 19610
---------------------------------------------------------------
(Names and addresses of agents for service)
<PAGE>
JCP&L, Met-Ed and Penelec hereby post-effectively amend their Application
on Form U-1 as heretofore amended, docketed in SEC File No. 70-7862, as follows:
1. By replacing Exhibit H to Post-effective Amendment No. 4 in its entirety
and replacing it with the following exhibit:
H - GPU Actual and Pro Forma
Capitalization ratios.
2
<PAGE>
SIGNATURE
---------
PURSUANT TO THE REQUIREMENTS OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF
1935, THE UNDERSIGNED COMPANIES HAVE DULY CAUSED THIS POST-EFFECTIVE AMENDMENT
TO BE SIGNED ON THEIR BEHALF BY THE UNDERSIGNED THEREUNTO DULY AUTHORIZED.
JERSEY CENTRAL POWER & LIGHT COMPANY
METROPOLITAN EDISON COMPANY
PENNSYLVANIA ELECTRIC COMPANY
By: /s/T. G. Howson
-------------------
T. G. Howson,
Vice President and Treasurer
Dated: November 3, 1998
3
Exhibit to be Filed with EDGAR
Exhibit
H - GPU Actual and Pro Forma Capitalization
ratios.
EXHIBIT H
SEC File No. 70-7862
CAPITALIZATION AND CAPITALIZATION RATIOS
----------------------------------------
(IN THOUSANDS)
The actual and pro forma capitalization of GPU, Inc. at March 31, 1998 is as
follows:
Actual Pro Forma (3)
----------------- --------------------
Amount % Amount %
---------- ----- ---------- -----
Long-term debt(1) $4 475 332 50.9 $4 475 332 50.9
Notes payable 299 618 3.4 299 618 3.4
Preferred stock (2) 170 478 1.9 170 478 1.9
Subsidiary-obligated
mandatorily redeemable
preferred securities 330 000 3.8 330 000 3.8
Common equity 3 519 270 40.0 3 516 939 40.0
--------- ----- --------- -----
$8 794 698 100.0 $8 792 367 100.0
========= ===== ========= =====
(1) Includes securities due within one year of $411 140.
(2) Includes securities due within one year of $12 500.
(3) The pro forma adjustments are discussed in the actual and pro forma
financial statements filed as exhibits to this application. The pro forma
capitalization excludes approximately $742 million of GPU's proportionate
share of non-recourse debt used to finance the acquisition of exempt
wholesale generators and foreign utility companies, as defined under the
Public Utility Holding Company Act of 1935, which debt is not consolidated
for financial reporting purposes. After giving effect to the non-recourse
debt, the pro forayable 3.1%; Preferred stock 1.8%; Subsidiary-obligated
mandatorily redeemable preferred securities 3.5%; and Common equity 36.9%.
