SEC FILE NO. 70-9599
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
CERTIFICATE PURSUANT TO
RULE 24
OF PARTIAL COMPLETION OF
TRANSACTIONS
GPU, INC.
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:
In the matter of :
GPU, INC. : Certificate Pursuant
: to Rule 24 of Partial
: Completion of
: Transactions
:
SEC File No. 70-9599 :
(Public Utility Holding Company Act :
of 1935) :
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TO THE MEMBERS OF THE SECURITIES AND EXCHANGE COMMISSION:
The undersigned, GPU, Inc. (GPU) hereby certifies pursuant to Rule 24 of
the General Rules and Regulations under the Public Utility Holding Company Act
of 1935 (the Act), that certain of the transactions proposed in the Application
filed in SEC File No. 70-9599 have been carried out in accordance with the
Commission's Order dated April 14, 2000, as follows:
1. Financial Statements
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A copy of the unaudited consolidated financial statements of MYR Group
Inc. (MYR) (including a consolidated balance sheet and statement of income) as
of and for the twelve months ended June 30, 2000 (the Statement of Income
contained herein covers the period from April 26, 2000, the date on which MYR
became a wholly-owned subsidiary of GPU, through June 30, 2000) is attached as
Exhibit A.
2. Schedule of Segment Revenue
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A schedule setting forth the segment revenue for the quarter ended June
30, 2000 (the Schedule of Segment Revenue contained herein covers the period
from April 26, 2000, the date on which MYR became a wholly-owned subsidiary of
GPU, through June 30, 2000) for each of MYR's business segments (Exhibit B) is
being filed separately pursuant to a request for confidential treatment under
Rule 104(b) of the Act.
3. Narrative Description of Principal Business Activities
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Transmission and Distribution (T&D) Services:
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During the quarter ended June 30, 2000, MYR performed significant T&D
services for its customers. T&D generated approximately 48% of MYR's total
revenue for that period, for which a significant portion of the work was
performed for utility companies in Texas, Tennessee and California. Several
major substation projects nearing completion generated additional revenue for
MYR as well as did the newly acquired (May 2000) Great Southwest Construction
(GSW), based in Castle Rock, Colorado. GSW is a non-union utility infrastructure
contractor that competes primarily in the western United States.
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Telecommunication Services
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There were no significant business activities to report for the quarter
ended June 30, 2000.
Traffic Signalization Services
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There were no significant business activities to report for the quarter
ended June 30, 2000.
Commercial and Industrial (C&I) Services:
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During the quarter ended June 30, 2000, MYR performed significant C&I
services for its customers. C&I generated approximately 39% of MYR's total
revenue for that period. The completion of the mechanical and electrical work
associated with a combined cycle power plant in Rhode Island contributed largely
to MYR's C&I revenue. Additional projects which added to C&I revenue were
services performed for Nevada casinos, and a runway lighting project nearing
completion for an airport in Colorado. In May 2000, MYRpower was formed to focus
on serving clients in the power generation business. During the reporting
period, MYRpower began work on a large combined cycle merchant plant in
Connecticut.
4. Services Provided to Associated Companies
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During the quarter ended June 30, 2000, services provided to the GPU
Companies consisted of (i) Harlan Electric, an MYR subsidiary, performing
various distribution projects in New Jersey for Jersey Central Power & Light
Company, and (ii) Harlan Electric laying ADSS and underground cable in
Pennsylvania for Metropolitan Edison Company and GPU Telcom Services, Inc. The
total amount billed to the GPU Companies for performing such services was $1.4
million during the period.
Also during the quarter ended June 30, 2000, GPU, Inc. provided $18.3
million of funding to MYR, of which $6 million was used in connection with MYR's
acquisition of GSW.
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SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF
1935, THE UNDERSIGNED COMPANY HAS DULY CAUSED THIS CERTIFICATE TO BE SIGNED ON
ITS BEHALF BY THE UNDERSIGNED THEREUNTO DULY AUTHORIZED.
GPU, Inc.
By:/s/ T. G. Howson
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T. G. Howson
Vice President and Treasurer
Date: September 15, 2000
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