SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of
earliest event reported): September 23, 1998
Commission Registrant, State of Incorporation, I.R.S. Employer
File Number Address and Telephone Number Identification No.
- ---------- ---------------------------------- ------------------
1-6047 GPU, Inc. 13-5516989
(a Pennsylvania corporation)
300 Madison Avenue
Morristown, New Jersey 07962-1911
Telephone (973) 455-8200
1-446 Metropolitan Edison Company 23-0870160
(a Pennsylvania corporation)
2800 Pottsville Pike
Reading, Pennsylvania 19605
Telephone (610) 929-3601
1-3522 Pennsylvania Electric Company 25-0718085
(a Pennsylvania corporation)
2800 Pottsville Pike
Reading, Pennsylvania 19605
Telephone (610) 929-3601
<PAGE>
ITEM 5. OTHER EVENTS.
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As previously reported, on June 30, 1998 the Pennsylvania Public Utility
Commission ("PaPUC") issued orders in the restructuring proceeding involving
Metropolitan Edition Company ("Met-Ed") and Pennsylvania Electric Company
("Penelec"). Met-Ed and Penelec subsequently filed appeals from such orders with
the Pennsylvania Commonwealth Court and a complaint with the United States
District Court challenging the orders on various constitutional and other
grounds.
On September 23, 1998, Met-Ed, Penelec, the PaPUC and other parties to the
restructuring proceedings entered into Settlement Agreements resolving all
issues between the parties. On September 24, 1998, the PaPUC issued a Tentative
Order approving the Settlement Agreements. The Settlement Agreements provide:
- - A Transmission & Distribution tariff rate which provides adequate funding
for maintaining the reliability of the Met-Ed and Penelec electric
distribution systems;
- - A rate reduction from January 1, 1999 through December 31, 1999, for all
customers whether they shop for electricity or not (2.5 percent for Met-Ed
customers and 3.0 percent for Penelec customers);
- - The ability of all customers to participate in electric choice on January
1, 1999 -- two years sooner than called for in the Pennsylvania
Electricity Competition Act;
- - A greater opportunity for savings than the original PaPUC orders provided
for customers who shop. (Customers will receive a higher "price to
compare" or "shopping credit." Customers will save money if they buy
electricity from another supplier that charges less than the price to
compare. The average price to compare in 1999 will be 4.350 cents per
kilowatt-hour for Met-Ed, or 16 percent higher than the PaPUC's original
order, and 4.404 cents per kilowatt-hour for Penelec, or 18 percent higher
than the PaPUC's original order. Actual prices will vary by customer rate
class);
- - Adequate assurance of full recovery of the above-market costs of
government-mandated contracts to buy electricity from non-utility
generators (Beginning in 2005, the amount collected would be "trued up"
for every five years over the lives of the contracts);
- - A rate cap for the cost of delivering electricity (transmission and
distribution) until 2004, three-and-one-half years longer than the period
called for in the Competition Act (with the exception of a pending federal
order requiring a transmission rate increase in Pennsylvania);
<PAGE>
- - A rate cap for electricity purchased from GPU Energy, as provider of
last resort, until 2010;
- - PaPUC approval for Met-Ed and Penelec to sell their generating stations;
- - Recovery of $658.14 million in stranded costs for Met-Ed over 12 years and
$332.16 million for Penelec for over 11 years. (These amounts reflect the
effects of using the estimated net proceeds from selling GPU Energy's
generating plants to reduce stranded costs and will be adjusted by the
actual amounts resulting from selling the plants.);
- - $2.7 million assistance in 1999 for low-income customers of Met-Ed and
$3.4 million assistance in 1999 for low-income Penelec customers;
- - A sustainable energy fund to promote the development and use of renewable
energy and clean energy technologies with one-time payments in 1998 of
$5.7 million for Met-Ed and of $6.4 million from Penelec customers;
- - The ability of some customers who shop to choose another licensed supplier
to provide metering services beginning January 1, 1999, and billing
services beginning January 1, 2000; and
- - A phase-in of competitive bidding beginning no later than June 1, 2000,
for other suppliers to be the "provider of last resort" for customers.
In its Tentative Order, the PaPUC directed that parties may submit
comments to the terms of the Settlement Agreements by October 8, 1998. Met-Ed
and Penelec expect the PaPUC to take final action on the Settlement Agreements
on October 16, 1998. As a result of the Settlement Agreements, the majority of
GPU's second quarter non-recurring charge of $2.16 per share will be reversed in
the third quarter. In addition, charges to account for specific effects of the
Settlement Agreements related to customer refunds and environmental payments
will also be recorded in the third quarter. The net effect of all these items
will amount to a charge to year-to-date earnings of approximately $0.36 to $0.42
per share. Details will be included when results are announced for the third
quarter. Met-Ed and Penelec will also request dismissal of the pending
Commonwealth Court and U.S. District Court litigation in accordance with the
Settlement Agreement.
A copy of GPU's related news release and the PaPUC's order granting
tentative approval to the Settlement Agreements are attached as exhibits.
<PAGE>
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits
1. GPU Energy News Release, dated September 24, 1998.
2. PaPUC Tentative Order, dated September 24, 1998.
<PAGE>
SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934,
THE REGISTRANTS HAVE DULY CAUSED THIS REPORT TO BE SIGNED ON THEIR BEHALF BY
THE UNDERSIGNED THEREUNTO DULY AUTHORIZED.
GPU, INC.
METROPOLITAN EDISON COMPANY
PENNSYLVANIA ELECTRIC COMPANY
By: /s/ T. G. Howson
---------------------
T. G. Howson, Vice President
and Treasurer
Date: October 2, 1998
EXHIBITS TO BE FILED BY EDGAR
-----------------------------
(c) 1. GPU Energy News Release, dated September 24, 1998.
2. PaPUC Tentative Order, dated September 24, 1998.
Exhibit (c) 1
GPU Energy News Release
September 24, 1998
GPU Energy Reaches Settlements in Pa. Restructuring Cases
- ---------------------------------------------------------
READING, Pa.--Sept. 24, 1998--GPU Energy has reached "balanced and fair"
settlement agreements in its Pennsylvania restructuring cases, the company
announced today.
The settlement agreements were submitted today to the Pennsylvania Public
Utility Commission (PUC) for its review and approval. Major parties in the
restructuring cases signed the agreements.
"GPU Energy is pleased that these settlement agreements put electric choice and
its many benefits back on track for our customers," said Dennis Baldassari, GPU
Energy president and chief operating officer.
"The settlement agreements are balanced and fair to customers and shareholders,"
he said. "They provide guaranteed savings for customers, the opportunity for
reasonable returns to shareholders and the ability for us to continue to support
the communities we serve."
The settlement agreements include a rate reduction, rate caps, a greater
opportunity to reduce costs for customers who shop and the ability of all
customers to shop for an electricity supplier as of Jan. 1, 1999. The GPU Energy
companies will be the only major electric utilities in Pennsylvania to open
electric choice to 100 percent of their customers on January 1.
Baldassari praised the efforts of PUC Chairman John M. Quain and Commissioner
Aaron Wilson Jr. in facilitating discussions which eventually led to a
settlement of issues among the parties. "Chairman Quain and Commissioner Wilson
provided crucial assistance in helping to resolve many tough issues in order to
arrive at these settlements," Baldassari said.
He said the settlements continue the company's tradition of low costs. "In 2004,
customers will still be paying essentially the same rates as today," Baldassari
said. "And, accounting for inflation, our average rates today are at least 20
percent lower than they were in 1986."
The settlement agreements provide:
- - Adequate funding for maintaining the reliability of the system of wires
that deliver electricity to customers;
- - A rate reduction on Jan. 1, 1999, for all customers whether they shop for
electricity or not (2.5 percent for Metropolitan Edison Co. customers and
3.0 percent for Pennsylvania Electric Co. customers);
- - The ability of all customers to participate in electric choice on Jan. 1,
1999 - two years sooner than called for in Pennsylvania's Electricity
Competition Act;
<PAGE>
- - A greater opportunity for savings than the original PUC orders provided for
customers who shop (Customers will receive a higher "price to compare" or
"shopping credit." Customers will save money if they buy electricity from
another supplier that charges less than the price to compare. The average
price to compare in 1999 will be 4.350 cents per kilowatt-hour for Met-Ed,
or 16 percent higher than the PUC's original order, and 4.404 cents per
kilowatt-hour for Penelec, or 18 percent higher than the PUC's original
order. Actual prices will vary by customer rate class.);
- - Adequate assurance of full recovery of the above-market costs of
government-mandated contracts to buy electricity from non-utility
generators (Beginning in 2005, the amount collected would be "trued up"
every five years over the lives of the contracts.);
- - A rate cap for the cost of delivering electricity (transmission and
distribution) until 2004, three-and-one-half years longer than the period
called for in the Competition Act (with the exception of a pending federal
order requiring a transmission rate increase in Pennsylvania);
- - A rate cap for electricity purchased from GPU Energy, as provider of last
resort, until 2010;
- - PUC approval for GPU Energy to sell its generating stations;
- - Recovery of $658.14 million in stranded costs for Met-Ed over 12 years and
$332.16 million for Penelec over 11 years (These amounts reflect the
effects of using the estimated net proceeds from selling GPU Energy's
generating plants to reduce stranded costs and will be adjusted by the
actual amounts resulting from selling the plants.);
- - $2.7 million assistance in 1999 for low-income customers of Met-Ed and $3.4
million assistance in 1999 for low-income Penelec customers;
- - A sustainable energy fund to promote the development and use of renewable
energy and clean energy technologies with one-time payments in 1998 of $5.7
million from Met-Ed and of $6.4 million from Penelec;
- - The ability of some customers who shop to choose another licensed supplier
to provide metering services beginning Jan. 1, 1999, and billing services
beginning Jan. 1, 2000; and
- - A phase-in of competitive bidding beginning no later than June 1, 2000, for
other suppliers to be the "provider of last resort" for customers.
"GPU Energy was an early advocate for electric power supply competition, and
these settlements will stimulate electric competition," Baldassari said. "At the
same time, they take into account GPU Energy's unique circumstances as a
low-cost utility and the only utility in Pennsylvania which will not have any
generating facilities."
Under the agreements, after the PUC gives final approval to the settlements, GPU
Energy will drop legal actions against the commission. GPU Energy had filed
actions in state and federal courts challenging the PUC's June 26, 1998,
restructuring orders for the companies.
A preliminary PUC vote on the agreements is expected today. After a period for
public comment, the commission would take a final vote.
The three domestic utility subsidiaries of GPU, Inc. (Met-Ed, Penelec and Jersey
Central Power & Light Co.) do business as GPU Energy. They serve more than two
million customers in Pennsylvania and New Jersey. GPU, Inc. is a registered
utility holding company.
-XX-
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Contact:
Ray E. Dotter, 610-921-6814
Pager: 888-584-3971
or
Lori Hixon, 610-921-6019
Pager: 888-510-7064
Exhibit (c) 2
PENNSYLVANIA
PUBLIC UTILITY COMMISSION
Harrisburg, PA 17105-3265
Public Meeting held September 24, 1998
Commissioners Present:
John M. Quain, Chairman
David W. Rolka
Aaron Wilson, Jr.
Application of Metropolitan Edison :
Company for Approval of Restructuring : Docket No. R-00974008
Plan Under Section 2806 of the :
Public Utility Code :
Application of Pennsylvania Electric :
Company for Approval of Restructuring : Docket No. R-00974009
Plan Under Section 2806 of the :
Public Utility Code :
Petition of Pennsylvania Electric Co. : Docket No. P-00971215
Altoona Cogeneration Project :
Petition of Metropolitan Edison Co. : Docket No. P-00971216
Blue Mountain Project :
Petition of Metropolitan Edison Co. : Docket No. P-00971217
York County Energy Partners :
Petition of Metropolitan Edison Co. : Docket No. P-00971223
Bio-Energy Partners :
Petition of Pennsylvania Electric Co. : Docket No. P-00971278
Erie Power Partners :
Petition of Pennsylvania Electric Co. : Docket No. P-00981324
Cogentrix Cogeneration :
Petition of Metropolitan Edison Co. : Docket No. P-00981325
Solar Turbines :
Petition of Pennsylvania Electric Co. : Docket No. P-00900450
Rubenstein Engineering, P.C. :
<PAGE>
TENTATIVE ORDER
BY THE COMMISSION:
On September 24, 1998, a Joint Petition for Full Settlement ("Joint
Petition") of the Restructuring Plans, related dockets and related appeals was
filed in the above-captioned proceedings by Metropolitan Edison Company
("Met-Ed" or "GPUE" or "Company") and Pennsylvania Electric Company ("Penelec"
or "GPUE" or "Company"), operating utility subsidiaries of GPU, Inc. ("GPU"),
collectively referred to as "Companies", the Office of Consumer Advocate
("OCA"); the Office of Small Business Advocate ("OSBA"); the Office of Trial
Staff ("OTS"); the Met-Ed Industrial Users Group ("MEIUG"); Penelec Industrial
Customer Alliance ("PICA"); Community Action Association of Pennsylvania
("CAAP"); Conectiv Energy ("Conectiv"); Mid-Atlantic Power Supply Association
("MAPSA"); Locals 459 and 777 of the International Brotherhood of Electrical
Workers ("IBEW"); New Energy Ventures ("NEV"); Enron Power Marketing, Inc.
("Enron"); the Anthracite Region Independent Power Producers Association
("ARIPPA"); Pennsylvania Rural Electric Association ("PREA"); Allegheny Electric
Cooperative, Inc. ("AEC"); Solar Turbines, Inc., BioEnergy Partners, Erie Power
Partners, L.P., AES Ironwood, Inc. and affiliates ("AES"), York County Solid
Waste and Refuse Authority ("YCSWRA"), Inter-Power/AhlCon Partners, L.P.; Homer
City/Rubenstein Engineering, P.C., the Environmentalists; and other parties
designated on the signature pages (all parties collectively referred to as the
"Joint Petitioners").
The proposed terms and conditions of the Joint Petition represent a
comprehensive settlement which resolves all issues on appeal before the
Commonwealth Court and all issues before the U.S. District Court arising from
challenges by the Joint Petitioners to the Commission's final orders,
<PAGE>
secretarial letter, related dockets and any related appeals regarding Met-Ed's
and Penelec's Applications for Approval of their Restructuring Plans Under
Section 2806 of the Public Utility Code.(1)
The Joint Petitioners aver that this comprehensive settlement is in the
public interest and, therefore, request that the Commission: (1) approve without
modification the proposed settlement as set forth in the Joint Petition; (2)
amend the Commission's final orders as necessary to implement the full
settlement; (3) approve the tariff supplements and appendices necessary to
implement the proposed settlement ; and (4) approve GPUE's transfer of
generation assets. The Joint Petitioners recognize, however, that pursuant to
the provisions of Section 703(g) of the Public Utility Code, the Commission is
obligated to provide notice of and opportunity to be heard before we may amend a
prior order.
In the proposed settlement, all Met-Ed customers will receive a guaranteed
2.5% rate reduction and all Penelec customers will receive a guaranteed 3.0%
rate reduction, effective January 1, 1999 through December 31, 1999. In addition
to these guaranteed rate decreases, Met-Ed customers will receive a
system-average shopping credit of 4.350 cents per KWH on January 1, 1999 and
Penelec customers will receive a system-average shopping credit of 4.404 cents
per KWH on January 1, 1999. Customers that elect to shop for generation will
receive total rate reductions in 1999 equal to the 2.5% or 3.0% decreases, plus
any savings produced by the difference between their generation purchase price
and their shopping credit. Given the level of the
- ----------------
(1) As noted in the certificate of service, copies of the Joint Petition and
appendices have been served by Met-Ed and Penelec on all parties to the
proceeding by overnight mail or hand delivery. In addition, the Joint
Petition provides that Met-Ed and Penelec will provide written notice of
the proposed settlement by letter to its customers, will post notices in
its office and on its Internet web page, and will provide notice by news
release.
<PAGE>
shopping credits included in the proposed settlement, as well as other specific
components of the proposed settlement, the Joint Petitioners expect the
development of a vibrant competitive market with many alternative electric
generation suppliers.
In addition, the settlement terms and conditions provide that Met-Ed and
Penelec will (1) recover a substantially smaller amount of stranded cost
recovery than claimed before the Commission, (2) use net proceeds from the
divestiture of generation assets to offset stranded costs, (3) recover monies
necessary to fulfill contractual obligations to non-utility generation projects,
(4) maintain and continue to improve the reliability of their transmission and
distribution system, (5) be subject to competitive safeguards to ensure fair
dealing, (6) expand their current universal service programs, (7) permit all
customers to choose an alternative electric generation supplier starting on
January 1, 1999; (8) educate consumers about restructuring, (9) facilitate
funding of sustainable energy, (10) encourage small renewable energy
technologies, and (11) withdraw their actions before Commonwealth Court and
their civil complaint before the U.S. District Court challenging the
Commission's restructuring orders and secretarial letter at Docket Nos.
R-00974008 and R-00974009.
The Joint Petitioners, in turn, agree to resolve all objections to
Met-Ed's and Penelec's Restructuring Plans and to withdraw all cases pending
before the Commonwealth Court which challenge (i) the constitutionality of the
Electric Competition Act and (ii) the Commission's Restructuring Orders at
Docket Nos. R-00974008 and R-00974009, provided that the Joint Petitioners are
not barred from raising any factual, legal or contrary positions in other
proceedings as long as such positions are not in derogation of the proposed
settlement.
<PAGE>
The proposed settlement set forth in the Joint Petition and its Appendices
constitutes a comprehensive resolution of the broad array of issues raised by
Met-Ed's and Penelec's Restructuring Plans under the Electric Competition Act.
Consistent with the fundamental goals of that historic legislation, the proposed
settlement provides for an orderly transition from the current regulated
electric utility structure for generation to a structure under which retail
customers will have direct access to a competitive market for the generation of
electricity. Moreover, and also consistent with the legislation, the proposed
settlement provides for a fair and reasonable recovery of Met-Ed's and Penelec's
stranded costs created by this transition to a competitive market. In
particular, the proposed settlement contains the following benefits:
- - customers will receive guaranteed rate decreases of 2.5%-3% during 1999;
- - all customers will have the opportunity to choose an alternative
supplier on January 1, 1999;
- - customers will receive shopping credits that will allow shopping customers
to achieve bill savings in addition to the guaranteed rate cuts;
- - the size of the shopping credit and other provisions of the settlement
will insure that a competitive market for electricity will be created and
functioning by January 1, 1999;
- - the Companies will complete the divestiture of their generation assets and
will use the net proceeds of those efforts to offset stranded costs that
have been incurred in the transition to a competitive generation market;
- - the Companies will be assured of full recovery of their contractual
obligations associated with non-utility generation projects;
<PAGE>
- - transmission and distribution rates will be capped for an additional
three and one-half years (to December 31, 2004);
- - the generation rate caps will be extended for an additional five years;
- - universal service programs will be expanded, and a sustainable energy
fund will promote the development and use of renewable energy and clean
energy technologies, energy conservation and efficiency which will benefit
the environment;
- - consumers will have the opportunity to receive metering and billing
services from competitive suppliers;
- - a competitive market for provider of last resort service will be
established so that non-shopping customers also have the opportunity to
realize bill savings; and
- - substantial litigation and its associated costs and uncertainties will
be avoided.
Upon our review of the Joint Petition and Appendices, we tentatively find
that the proposal is in the public interest and therefore should be approved. We
note that the Joint Petition has been signed by most but not all of the active
parties of record in Met-Ed's and Penelec's restructuring proceedings. Before we
can give final approval to the proposal, we shall afford all parties of record
to Met-Ed's and Penelec's restructuring proceedings an opportunity to file
comments to this comprehensive proposal.
Accordingly, we provide that any comments to the Joint Petition and the
Appendices must be filed on or before October 8, 1998. Thereafter, we will
promptly consider all timely-filed comments and issue a final order with respect
to the proposed settlement set forth in the Joint Petition and Appendices.
We recognize and appreciate the uncounted hours spent by the participants
in preparing this Joint Petition, which represents a negotiated
<PAGE>
resolution of important and conflicting interests in a practical and enforceable
manner. We believe that this settlement represents a difficult but most
important step in the advancement of the economies of the areas served by Met-Ed
and Penelec and the Commonwealth, as well as an historic breakthrough in the
creation of retail electric competition in the Commonwealth. At the same time,
the Joint Petition continues necessary and important safeguards for utility
customers which must be preserved in the public interest.
We have thoroughly examined the proposed settlement. Based upon that
review, we tentatively find it to be in the public interest; THEREFORE, IT IS
ORDERED:
1. That in consideration of and reliance upon the representations, mutual
promises and undertakings of the parties to this proposed settlement, including
the express agreement of each signatory to be legally bound by its terms and the
certification of each signatory that he or she has full authority to enter into
the settlement and to act on behalf of their respective parties, the terms of
the proposed full settlement set forth in the Joint Petition and the Appendices
shall be and are hereby tentatively approved as to each and every one of its
terms and conditions, and we hereby tentatively reconsider and amend our prior
orders in these proceedings as necessary to implement the terms of the full
settlement. Any issue not specifically addressed in this settlement shall be
treated and resolved in accordance with the resolution of that issue in the
Restructuring Orders adopted by the Commission and entered on June 30, 1998 at
Docket Nos. R-00974008 and R-00974009.
2. That the Commission hereby tentatively approves all aspects of the
Companies' transfer of it generation assets and liabilities, along with the
granting of the approvals, licenses and certificates of public convenience
required under the Public Utility Code regarding the transfer or assignment of
the Companies' generating assets and liabilities in accordance with the
settlement provisions, including but not limited to approvals under Chapters 5,
11, 19, 21 and 28 of the Public Utility Code.
3. That the recovery of stranded costs, on an interim basis, by Met-Ed of
$658.14 million and by Penelec of $332.16 million, subject to reconciliation at
a later date to reflect the actual net proceeds resulting from the divestiture
of generation assets, is just and reasonable and in the public interest.
4. That the Petitions of Met-Ed at Docket Nos. P-00971216, P-00971217,
P-00971223 and P-00981325 and the Petitions of Penelec at Docket Nos.
P-00971215, P-00971278, P-00981324 and P-00900450 ("Related NUG Dockets")
consolidated into these proceedings, are hereby tentatively approved.
<PAGE>
5. That with respect to the Related NUG Dockets, the Power Purchase
Agreements ("PPAs") for Blue Mountain, York County Energy Partners (Ironwood),
Bio-Energy Partners, Solar Turbines, Altoona Cogeneration Project, Erie Power
Partners, Cogentrix Cogeneration and Rubenstein Engineering, P.C., and the
transactions contemplated thereby, are reasonable, prudent and in the public
interest; and the PPAs and the transactions contemplated thereby, constitute
reasonable mitigation efforts by the Companies; and the costs incurred or to be
incurred by Met-Ed and Penelec in connection with the PPAs, including any
buy-outs or restructuring contemplated therein, shall be fully recovered from
customers as provided in this settlement and tentatively approved by this order.
6. That the tariff supplements appended to the Joint Petition and all
other Appendices are hereby tentatively approved, being necessary to implement
the full settlement, and shall become effective pursuant to the terms set forth
in the Joint Petition and Appendices.
7. That with respect to the divested generation facilities of the
Companies and their GPU affiliates, it is tentatively determined that allowing
these generation facilities to qualify as "eligible facilities" under the Public
Utility Holding Company Act of 1935 (1) will benefit consumers, (2) is in the
public interest and (3) does not violate State law.
8. That any party of record to Met-Ed's or Penelec's restructuring
proceedings at Docket Nos. R-00974008 and R-00974009 may submit comments on or
before October 8, 1998 with respect to the provisions of the proposed settlement
set forth in the Joint Petition and the Appendices.
9. That written comments, an original and fifteen (15) copies, shall be
submitted to the Secretary, Pennsylvania Public Utility Commission, P.O. Box
3265, Harrisburg, PA 17105-3265. Comments should specifically reference the
above-captioned docket numbers. Comments not received by the Secretary by close
of business on October 8, 1998 will not be considered.
10. That this order shall not become final until the Commission has
considered all timely filed comments and issued a final order.
11. That the Commission's approval of the terms and conditions set forth
in the Joint Petition and Appendices is expressly contingent upon and shall not
become final and enforceable until all appeals and civil actions required to be
dismissed with prejudice as referred to in Part Q of the proposed settlement
have been finally withdrawn, discontinued, or dismissed with prejudice in
accordance with the provisions of the settlement.
12. That a copy of this tentative order shall be served upon all parties
to Met-Ed's and Penelec's restructuring proceedings at Docket Nos.
R-00974008 and R-00974009.
BY THE COMMISSION:
James J. McNulty
Secretary
(SEAL)
ORDER ADOPTED: September 24, 1998
ORDER ENTERED: September 24, 1998
