U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM U-9C-3
QUARTERLY REPORT PURSUANT TO RULE 58 OF
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
For the quarterly period ended September 30, 1998
-----------------
GPU, Inc. (File No. 074-00023)
- --------------------------------------------------------------------------------
(Name of Registered Holding Company)
300 Madison Avenue, Morristown, NJ 07962-1911
- --------------------------------------------------------------------------------
(Address of Principal Executive Offices)
<PAGE>
GPU, Inc.
Quarterly Report Pursuant to Rule 58 of
the Public Utility Holding Company Act of 1935
For the quarterly period ended September 30, 1998
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Table of Contents
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Item
No. Title Page
1 Organization Chart 1
2 Issuances and Renewals of Securities and
Capital Contributions 3
3 Associate Transactions 4
4 Summary of Aggregate Investment 7
5 Other Investments 8
6 Financial Statements and Exhibits:
A - Financial Statements 9
B - Exhibits 10
C - Certificate of GPU, Inc. 11
Signature 12
Note: All dollar amounts shown in this Form U-9C-3 are expressed in
thousands except for the amounts presented in the financial
statements (Exhibit A), which are expressed in whole dollars.
<PAGE>
<TABLE>
ITEM 1 - ORGANIZATION CHART
<CAPTION>
Energy (ERC)
or Gas (GRC) Date of State of Percentage of Voting Nature of
Name of Reporting Company Related Company Organization Organization Securities Held ** Business
- ----------------------------------------- -------------- ------------ ------------ --------------------
- ---------
GPU, Inc. (a)
<S> <C> <C> <C> <C> <C>
GPU Advanced Resources, Inc. ERC 09/13/96 Delaware 100.0% (b)
GPU International, Inc. (a)
Elmwood Energy Corporation ERC 02/13/87 New Jersey 100.0 (c),(d)
Prime Energy Limited Partnership ERC 05/08/86 New Jersey 50.0 (d)
Camchino Energy Corporation ERC 04/26/89 Delaware 100.0 (c),(d)
OLS Power Limited Partnership ERC 08/02/89 Delaware 1.0 (c)
OLS Acquisition Corporation ERC 05/03/89 Delaware 100.0 (c)
OLS Energy - Chino ERC 08/08/84 California 100.0 (d)
OLS Energy - Camarillo ERC 08/08/84 California 100.0 (d)
OLS Energy - Berkeley ERC 09/05/85 California 100.0 *
Geddes Cogeneration Corporation ERC 03/23/89 New York 100.0 (c),(d)
Geddes II Corporation (New) ERC 06/24/98 Delaware 100.0 (c)
Onondaga Cogeneration Limited Partnership ERC 06/08/88 New York 50.0 (d)
EI Selkirk, Inc. ERC 10/31/94 Delaware 100.0 (c)
Selkirk Cogeneration Partners Limited
Partnership ERC 06/06/90 Delaware 19.2 (d)
NCP Energy, Inc. ERC 11/21/89 California 100.0 (c),(d)
Syracuse Orange Partners L.P. ERC 04/02/91 Delaware 4.9 (c)
Project Orange Associates L.P. ERC 05/12/88 Delaware 4.4 (d)
NCP Gem, Inc. ERC 05/23/91 Delaware 100.0 (c)
NCP New York, Inc. ERC 07/09/93 Delaware 100.0 *
NCP Brooklyn Power, Inc. ERC 07/09/93 Delaware 100.0 *
NCP Lake Power, Inc. ERC 05/23/91 Delaware 100.0 (c),(d)
Lake Investment, L.P. ERC 05/23/91 Delaware 100.0 (c)
Lake Cogen, Ltd. ERC 03/13/91 Florida 49.9 (d)
New Lake Corporation ERC 01/02/97 Florida - (g) (c)
GPUI Lake Holdings, Inc. ERC 12/24/96 Delaware 100.0 *
NCP Pasco, Inc. ERC 05/23/91 Delaware 100.0 (c)
NCP Dade Power, Inc. ERC 05/23/91 Delaware 100.0 (c),(d)
Dade Investment, L.P. ERC 05/23/91 Delaware 100.0 (c)
Pasco Cogen, Ltd. ERC 03/13/91 Florida 49.9 (d)
NCP Houston Power, Inc. ERC 12/02/93 Delaware 100.0 (c),(d)
NCP Perry, Inc. ERC 12/02/93 Delaware 100.0 (c)
Mid-Georgia Cogen, L.P. ERC 12/03/93 Delaware 50.0 (d)
EI Services, Inc. ERC 10/07/93 Delaware 100.0 (d)
NCP Ada Power, Inc. ERC 07/31/93 California 100.0 *
Umatilla Groves, Inc. ERC 06/17/92 Delaware 100.0 *
NCP Commerce Power, Inc. ERC 08/31/93 California 100.0 *
Armstrong Energy Corporation ERC 07/14/88 New Jersey 100.0 *
AEC/REF Fuel, Limited Partnership ERC 12/22/89 Pennsylvania 100.0 *
EI Fuels Corporation ERC 08/09/90 Delaware 100.0 (e)
GPU Solar, Inc. ERC 07/09/97 New Jersey 50.0 (f)
GPUI Holdings, Inc. ERC 03/03/97 Delaware 100.0 *
1
</TABLE>
<PAGE>
ITEM 1 - ORGANIZATION CHART (Continued)
* Inactive. ** Sets forth the percentage of voting securities held directly
or indirectly by GPU, Inc. or GPU International, Inc. (GPUI), as
applicable.
(a) These GPU system companies hold securities directly or indirectly in the
energy-related companies set below their names. GPUI is a wholly owned
subsidiary of GPU, Inc.
(b) This subsidiary was formed to engage in energy services and retail energy
sales.
(c) These energy-related companies hold securities in other energy-related
companies.
(d) These subsidiaries participate in some or all aspects of promoting,
developing, owning, managing and/or operating qualifying facilities, as
defined in the Public Utility Regulatory Policies Act of 1978.
(e) This subsidiary provides fuel management services.
(f) This subsidiary is involved in the development and commercialization of
photovoltaics.
(g) In June 1997, GPUI sold to New Lake Corporation an option, which GPUI
held, to acquire a 50% limited partnership interest in Lake Cogen, Ltd.
in consideration of a $10 million promissory note issued to GPUI. New
Lake Corporation subsequently exercised that option. New Lake Corporation
is not an affiliate of GPUI.
Narrative Description of Activities for Reporting Period
--------------------------------------------------------
GPUI paid ten dollars to acquire all of the outstanding shares (100
shares, no par value) of Geddes II Corporation common stock.
A 50% limited partnership interest in Onondaga Cogen, L.P. was issued by
the partnership to Geddes II Corporation in connection with a restructuring
agreement entered into with Enron Capital & Trade Resources Corp.
GPUI has agreed to provide for the issuance of a letter of credit to
Georgia Power Company from time to time, up to a maximum amount of $9,784 on
behalf Mid-Georgia Cogen, L.P. GPUI's agreement is guaranteed by GPU, Inc.
2
<PAGE>
<TABLE>
ITEM 2 - ISSUANCES AND RENEWALS OF SECURITIES AND CAPITAL CONTRIBUTIONS
<CAPTION>
Type of Principal Company to Collateral Consideration
Company Issuing Security Amount of Issue or Cost of whom Security Given with Received
Security Issued Security Renewal Capital was Issued Security for Each Security
- ----------------------- ----------- ------------ -------- ------- ----------- ---------- ------------
- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
Geddes II Corporation Common Stock N/A Issue N/A GPU N/A GPUI paid ten dollars
International, Inc. to acquire all of
the outstanding
shares (100 shares, no
par value)of Geddes II
Corp. common
stock.
Onondaga Cogen, L.P. Partnership N/A N/A N/A Geddes II N/A A 50% limited
Interest Corporation partnership interest
in Onondaga Cogen,
L.P. was issued by
the partnership to
Geddes II Corp.in
connection with a
restructuring agreement
entered into with Enron
Capital &
Trade Resources Corp. No
consideration
was given.
<S> <C> <C>
Company Contributing Company Receiving Amount of Capital
Capital Capital Contribution
------- ------- ------------
N/A N/A N/A
<FN>
Note: The information provided in Item 2 presents the activities of the reporting period only.
</FN>
3
</TABLE>
<PAGE>
<TABLE>
ITEM 3 - ASSOCIATE TRANSACTIONS
<CAPTION>
Part I - Transactions Performed by Reporting Companies on Behalf of Associate Companies
Total
Reporting Company Associate Company Amount
Rendering Services Receiving Services Types of Services Rendered Billed
------------------ ------------------ -------------------------- ------
<S> <C> <C> <C>
EI Services, Inc. Mid-Georgia Cogen, L.P. Construction and operations $xxx (1)
management
NCP Houston Power, Inc. Mid-Georgia Cogen, L.P. Accounting and administration xxx (1)
EI Fuels Corporation Mid-Georgia Cogen, L.P. Fuel supplies and management xxx (1)
services
NCP Lake Power, Inc. Lake Cogen, Ltd. Accounting, administration and xxx (1)
operations and maintenance (O&M)
management
NCP Dade Power, Inc. Pasco Cogen, Ltd. Administration and O&M management xxx (1)
Geddes Cogeneration Corporation Onondaga Cogeneration Limited Partnership Accounting, administration and xxx (1)
O&M management
Camchino Energy Corporation OLS Energy - Chino Accounting, administration and xxx (1)
O&M management
Camchino Energy Corporation OLS Energy - Camarillo Accounting, administration and xxx (1)
O&M management
Elmwood Energy Corporation Prime Energy Limited Partnership Accounting and administration xxx (1)
<FN>
Notes: The information provided in Item 3 presents the activities of the
reporting period only. The amounts required under the caption "Total
Amount Billed" are being filed pursuant to request for confidential
treatment.
(1) The amounts shown represent negotiated contractual rates billed in
accordance with the applicable service contracts filed under Item 6.
</FN>
4
</TABLE>
<PAGE>
<TABLE>
ITEM 3 - ASSOCIATE TRANSACTIONS (Continued)
<CAPTION>
Part II - Transactions Performed by Associate Companies on Behalf of Reporting Companies
Total
Associate Company Reporting Company Amount
Rendering Services Receiving Services Types of Services Rendered Billed
------------------ ------------------ -------------------------- ------
<S> <C> <C> <C>
GPU International, Inc. Prime Energy Limited Partnership O&M management $xxx (1)
GPU International, Inc. EI Services, Inc. Construction and operations xxx (1)
management for Mid-Georgia
Cogen, L.P.
GPU International, Inc. NCP Houston Power, Inc. Accounting and administration for xxx (1)
Mid-Georgia Cogen, L.P.
GPU International, Inc. NCP Lake Power, Inc. Accounting, administration and O&M xxx (1)
management for Lake Cogen, Ltd.
GPU International, Inc. NCP Dade Power, Inc. Administration and O&M management xxx (1)
for Pasco Cogen, Ltd.
GPU International, Inc. Geddes Cogeneration Corporation Accounting and administration for xxx (1)
Onondaga Cogeneration Limited
Partnership
GPU International, Inc. Camchino Energy Corporation Accounting and administration for xxx (1)
OLS Power Limited Partnership
GPU International, Inc. Camchino Energy Corporation Accounting, administration and O&M xxx (1)
management for OLS Energy - Chino
GPU International, Inc. Camchino Energy Corporation Accounting, administration and O&M xxx (1)
management for OLS Energy -
Camarillo
GPU International, Inc. Elmwood Energy Corporation Accounting and administration for xxx (1)
Prime Energy Limited Partnership
5
</TABLE>
<PAGE>
<TABLE>
ITEM 3 - ASSOCIATE TRANSACTIONS (Continued)
Part II - Transactions Performed by Associate Companies on Behalf of Reporting Companies (Continued)
<CAPTION>
Total
Associate Company Reporting Company Amount
Rendering Services Receiving Services Types of Services Rendered Billed
------------------ ------------------ -------------------------- ------
<S> <C> <C> <C>
GPU International, Inc. NCP Energy, Inc. Accounting and administration for $xxx (1)
Syracuse Orange Partners L.P. and
Project Orange Associates L.P.
GPU International, Inc. GPU Solar, Inc. Management, marketing and technical xxx (1)
expertise for GPU Solar, Inc.
GPU International, Inc. GPU Advanced Resources, Inc. Certain general and administrative xxx (1)
services for GPU Advanced Resources,
Inc.
Metropolitan Edison Company GPU Advanced Resources, Inc. Certain general and administrative xxx (2)
services for GPU Advanced Resources,
Inc.
GPU Service, Inc. GPU Advanced Resources, Inc. Legal and certain general and xxx (3)
administrative services for
GPU Advanced Resources, Inc.
<FN>
Notes: The information provided in Item 3 presents the activities of the
reporting period only. The amounts required under the caption
"Total Amount Billed" are being filed pursuant to request for
confidential treatment.
(1) The amounts shown include overhead charges applied, at a rate of
208%, to employee salaries billed for services rendered, except
in the case of services performed for NCP Energy, Inc. in respect
of Project Orange Associates L.P. (POA), for which a 120%
overhead charge is applied. In addition, a 10% overhead charge is
applied to certain administrative expenses related to POA. No
capital costs were charged.
(2) The amounts shown include overhead charges applied, at a rate of
58%, to employee salaries billed for services rendered. No
capital costs were charged.
(3) The amounts shown include overhead charges applied, at a rate of
53.4%, to employee salaries billed for services rendered. No
capital costs were charged.
</FN>
6
</TABLE>
<PAGE>
<TABLE>
ITEM 4 - SUMMARY OF AGGREGATE INVESTMENT
<CAPTION>
Investments in energy-related companies:
<S> <C> <C> <C>
Total average consolidated capitalization as of September 30, 1998 $8,747,588 Line 1
------------------------
Total capitalization multiplied by 15% (line 1 multiplied by 0.15) 1,312,138 Line 2
Greater of $50 million or line 2 $1,312,138 Line 3
Total current aggregate investment:
(categorized by major line of energy-related business)
Ownership and operation of qualifying facilities (Category VIII) 35,784
Energy services and retail energy sales (Category V) 4,300
Fuel management services (Category IX) -
Operations and maintenance services (Category VII) -
Development and commercialization of photovoltaics (Category II) -
---------
Total current aggregate investment 40,084 Line 4
------
Difference between the greater of $50 million or 15% of capitalization
and the total aggregate investment of the registered holding company
system (line 3 less line 4) $1,272,054 Line 5
= = ==========
<FN>
Notes: The caption "Total average consolidated capitalization" includes
total common equity, preferred equity (including amounts due within
one year), long-term debt (including amounts due within one year) and
short-term debt.
The caption "Total current aggregate investment" includes all amounts
invested or committed to be invested in energy-related companies on or
after the date of effectiveness of Rule 58 (March 24, 1997), for which
there is recourse, directly or indirectly, to GPU, Inc. or any
subsidiary company thereof.
</FN>
7
</TABLE>
<PAGE>
<TABLE>
ITEM 5 - OTHER INVESTMENTS
<CAPTION>
Aggregate Investment as of Change in Investments Reason for Change
Major Line of Energy-Related Business June 30, 1998 During Reporting Period in Investments
- ------------------------------------- ------------------------ ----------------------- ----------
<S> <C> <C> <C>
Ownership and operation of qualifying
facilities (Category VIII) $155,132 * $ 9,784 GPUI paid ten dollars
to acquire all of
the outstanding shares
(100 shares, no par
value) of Geddes
II Corporation
common stock. In
addition, the
change includes
a maximum of
$9,784 of letter
of credit obligations
undertaken by GPUI
on behalf Mid-Georgia
Cogen, L.P.,
as discussed
above.
Energy services and retail energy
sales (Category V) 4,300 - No change.
Fuel management services (Category IX) ** - No change.
Operations and maintenance
services (Category VII) ** - No change.
Development and commercialization of
photovoltaics (Category II) Less than $1 - No change.
<FN>
* The caption "Aggregate Investment as of June 30, 1998" includes $129,132
that was invested or committed to be invested in energy-related companies,
prior to the date of effectiveness of Rule 58 (March 24, 1997), for which
there is recourse, directly or indirectly, to GPU, Inc. or any subsidiary
thereof.
** The amounts invested in such energy-related companies, which are immaterial,
have subsequently been reinvested, and are included in "Ownership and
operation of qualifying facilities (Category VIII)."
</FN>
8
</TABLE>
<PAGE>
ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS
A. Financial Statements
A-1 Financial statements of GPU Advanced Resources, Inc. for the quarter ended
September 30, 1998.
A-2 Financial statements of Elmwood Energy Corporation for the quarter ended
September 30, 1998 - filed pursuant to request for confidential treatment.
A-3 Financial statements of Camchino Energy Corporation for the quarter ended
September 30, 1998 - filed pursuant to request for confidential treatment.
A-4 Financial statements of Prime Energy Limited Partnership for the quarter
ended September 30, 1998 - filed pursuant to
request for confidential treatment.
A-5 Financial statements of Geddes Cogeneration Corporation for the quarter
ended September 30, 1998 - filed pursuant to request for confidential
treatment.
A-6 Financial statements of Onondaga Cogeneration Limited Partnership for the
quarter ended September 30, 1998 - filed pursuant to request for
confidential treatment.
A-7 Financial statements of NCP Energy, Inc. for the quarter ended September
30, 1998 - filed pursuant to request for confidential treatment.
A-8 Financial statements of NCP Lake Power, Inc. for the quarter ended
September 30, 1998 - filed pursuant to request for
confidential treatment.
A-9 Financial statements of NCP Dade Power, Inc. for the quarter ended
September 30, 1998 - filed pursuant to request for confidential treatment.
A-10 Financial statements of NCP Houston Power, Inc. for the quarter ended
September 30, 1998 - filed pursuant to request for
confidential treatment.
A-11 Financial statements of Mid-Georgia Cogen, L.P. for the quarter ended
September 30, 1998 - filed pursuant to request for
confidential treatment.
A-12 Financial statements of EI Services, Inc. for the quarter ended September
30, 1998 - filed pursuant to request for confidential treatment.
A-13 Financial statements of GPU Solar, Inc. for the quarter ended September 30,
1998 - filed pursuant to request for confidential treatment.
A-14 Financial statements of EI Fuels Corporation for the quarter ended
September 30, 1998 - filed pursuant to request for confidential treatment.
9
<PAGE>
ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS (Continued)
Exhibits
- --------
B. Contracts Required by Item 3
- -- ----------------------------
B-1 Contract between EI Services, Inc. and Mid-Georgia Cogen, L.P. to provide
construction and operations management services - incorporated by reference
to Exhibit B-1 to GPU's Quarterly Report on Form U-9C-3 for the period
ended June 30, 1997.
B-2 Contract between NCP Houston Power, Inc. and Mid-Georgia Cogen, L.P. to
provide accounting and administrative services (included in partnership
agreement) - incorporated by reference to Exhibit B-2 to GPU's Quarterly
Report on Form U-9C-3 for the period ended June 30, 1997.
B-3 Contract between NCP Lake Power, Inc. and Lake Cogen, Ltd. to provide
accounting, administrative and operations and maintenance (O&M) management
services (included in partnership agreement) - incorporated by reference to
Exhibit B-3 to GPU's Quarterly Report on Form U-9C-3 for the period ended
June 30, 1997.
B-4 Contract between NCP Dade Power, Inc. and Pasco Cogen, Ltd. to provide
administrative and O&M management services (included in partnership
agreement) - incorporated by reference to Exhibit B-4 to GPU's Quarterly
Report on Form U-9C-3 for the period ended June 30, 1997.
B-5 Contract between Geddes Cogeneration Corporation and Onondaga Cogeneration
Limited Partnership to provide accounting, administrative and O&M
management services (included in partnership agreement) - incorporated by
reference to Exhibit B-5 to GPU's Quarterly Report on Form U-9C-3 for the
period ended June 30, 1997.
B-6 Contract between Camchino Energy Corporation and OLS Power Limited
Partnership to provide accounting and administrative services (included in
partnership agreement) - incorporated by reference to Exhibit B-6 to GPU's
Quarterly Report on Form U-9C-3 for the period ended June 30, 1997.
B-7 Contract between Camchino Energy Corporation and OLS Energy - Chino to
provide accounting, administrative and O&M management services -
incorporated by reference to Exhibit B-7 to GPU's Quarterly Report on Form
U-9C-3 for the period ended June 30, 1997.
B-8 Contract between Camchino Energy Corporation and OLS Energy - Camarillo to
provide accounting, administrative and O&M management services -
incorporated by reference to Exhibit B-8 to GPU's Quarterly Report on Form
U-9C-3 for the period ended June 30, 1997.
B-9 Contract between Elmwood Energy Corporation and Prime Energy Limited
Partnership to provide accounting and administrative services (included in
partnership agreement) - incorporated by reference to Exhibit B-9 to GPU's
Quarterly Report on Form U-9C-3 for the period ended June 30, 1997.
B-10 Contract between GPU International, Inc. and Prime Energy Limited
Partnership to provide O&M management services incorporated by reference to
Exhibit B-10 to GPU's Quarterly Report on Form U-9C-3 for the period ended
June 30, 1997.
10
<PAGE>
ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS (Continued)
B. Contracts Required by Item 3
- -- ----------------------------
B-11 Contract between GPU International, Inc. and Onondaga Cogeneration Limited
Partnership to provide O&M management services - incorporated by reference
to Exhibit B-11 to GPU's Quarterly Report on Form U-9C-3 for the period
ended June 30, 1997.
B-12 Contract between GPU International, Inc. and GPU Solar, Inc. to provide
management, marketing and technical expertise services - incorporated by
reference to Exhibit B-12 to GPU's Quarterly Report on Form U-9C-3 for the
period ended September 30, 1997.
B-13 Contract between GPU Service, Inc. and GPU Advanced Resources, Inc. to
provide legal and certain general and administrative services -
incorporated by reference to Exhibit B-13 to GPU's Quarterly Report on Form
U-9C-3 for the period ended December 31, 1997.
B-14 Contract between EI Fuels Corporation and Mid-Georgia Cogen, L.P. to
provide fuel supplies and management services incorporated by reference to
Exhibit B-14 to GPU's Quarterly Report on Form U-9C-3 for the period ended
June 30, 1998.
Note:Services rendered by GPU International, Inc. to EI Services, Inc., NCP
Houston Power, Inc., NCP Lake Power, Inc., NCP Dade Power, Inc., Geddes
Cogeneration Corporation, Camchino Energy Corporation, Elmwood Energy
Corporation, NCP Energy, Inc. and GPU Advanced Resources, Inc., and
services rendered by Metropolitan Edison Company to GPU Advanced Resources,
Inc. are provided pursuant to oral arrangements and no written agreements
exist.
C. Certificate of GPU, Inc.
- -- ------------------------
11
<PAGE>
SIGNATURE
The undersigned registered holding company has duly caused this quarterly
report to be signed on its behalf by the undersigned officer thereunto duly
authorized pursuant to the requirements of the Public Utility Holding Company
Act of 1935.
GPU, INC.
November 24, 1998
By /s/ F. A. Donofrio
------------------
F. A. Donofrio, Vice President,
Comptroller and Chief Accounting Officer
12
Index of Financial Statements and Exhibits to be Filed in EDGAR
---------------------------------------------------------------
A-1 Financial statements of GPU Advanced Resources, Inc. for the quarter ended
September 30, 1998.
C Certificate of GPU, Inc.
Exhibit A-1
GPU ADVANCED RESOURCES, INC.
Balance Sheet
September 30, 1998
-----------------------------
(Unaudited)
Assets
Current assets:
Cash and temporary cash investments $ 1,100,635
Accounts receivable:
Customers 1,554,790
Other 1,499
Deferred income taxes 105,000
Prepayments 9,157
-----
Total current assets 2,771,081
---------
Other property and investments 82,733
------
Total Assets $ 2,853,814
==========
Liabilities & Stockholder's Equity
Current liabilities:
Accounts payable $ 2,913,443
Other 1,130,350
----------
Total current liabilities 4,043,793
---------
Deferred income taxes 118,046
-------
Stockholder's equity:
Common stock 100
Capital surplus 4,800,000
Retained earnings (6,108,125)
----------
Total stockholder's equity (1,308,025)
----------
Total Liabilities & Stockholder's Equity $ 2,853,814
===========
<PAGE>
Exhibit A-1
GPU ADVANCED RESOURCES, INC.
Statements of Income
(Unaudited)
Three Months Nine Months
Ended Ended
Sept.30,1998 Sept.30,1998
Operating Revenues $ 3,119,451 $ 8,336,750
---------- ------------
Other operation and maintenance 3,586,749 10,607,803
--------- ----------
Operating Income/(Loss) ( 467,298) (2,271,053)
Other Income and Expenses 23,437 75,014
---------- ----------
Earnings Before Income Taxes ( 443,861) (2,196,039)
Income tax benefit ( 155,351) ( 768,113)
---------- ----------
Net Loss $( 288,510) $(1,427,926)
========== ==========
Exhibit C
GPU, Inc.
300 Madison Avenue, Morristown, NJ 07962-1911
Certificate
Pursuant to the requirements of Rule 58 of the Public Utility Holding
Company Act of 1935, the undersigned certifies that:
A copy of quarterly report on Form U-9C-3, for the period ended
June 30, 1998, was filed with the state commissions having
jurisdiction over the electric retail rates of GPU's public
utility subsidiary companies. The names and addresses of these
state commissions are as follows:
New Jersey Division of Energy
Board of Public Utilities
Two Gateway Center
Newark, NJ 07102
Commonwealth of Pennsylvania*
Public Utility Commission
P.O. Box 3265
Harrisburg, PA 17105-3265
*A conformed copy of the publicly available report was filed with the
Pennsylvania Public Utility Commission.
November 24, 1998
By /s/ P. R. Chatman
---------------------
P. R. Chatman,
Assistant Comptroller -
GPU Service, Inc.
Note: Pennsylvania Electric Company ("Penelec") is also subject to retail
- ---- rate regulation by the New York Public Service Commission with
respect to retail service to approximately 3,700 customers in
Waverly, New York served by Waverly Electric Power & Light Company,
a Penelec subsidiary. Waverly Electric's revenues are immaterial,
accounting for less than 1% of Penelec's total operating revenues.
