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): October 16, 1996
JERSEY CENTRAL POWER & LIGHT COMPANY
(Exact name of registrant as specified in charter)
New Jersey 1-3141 21-0485010
(State or other (Commission (IRS employer
jurisdiction of file number) identification no.)
incorporation)
26800 Pottsville Pike, Reading, Muhlenberg Township, Berks
County, PA 19640-0001
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (610) 929-
3601<PAGE>
ITEM 5. OTHER EVENTS.
As has been previously announced, on October 16, 1996,
Jersey Central Power & Light Company ("JCP&L") was named as a
defendant in a breach of contract lawsuit filed by Nestle
Beverage Company ("Nestle") against Freehold Cogeneration
Associates ("Freehold") in New Jersey Superior Court. The
lawsuit relates to the April 1996 agreement under which JCP&L
agreed to buy out the 20 year power purchase agreement for
Freehold's proposed 110 MW cogeneration facility located at
Nestle's Freehold, New Jersey plant.
In the complaint, Nestle is seeking damages of at least $75
million for Freehold's alleged breach of a steam sales agreement
between Nestle and Freehold and approximately $412 million in
damages against JCP&L for its alleged unlawful interference with
the steam sales agreement. The complaint also seeks an
unspecified amount of punitive damages.
There can be no assurance as to the outcome of this
proceeding.
A copy of GPU's related news release is annexed as an
exhibit.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
(c) Exhibits.
1. GPU News Release, dated October 16, 1996.<PAGE>
SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE
ACT OF 1934, THE REGISTRANT HAS DULY CAUSED THIS REPORT TO BE
SIGNED ON ITS BEHALF BY THE UNDERSIGNED THEREUNTO DULY
AUTHORIZED.
JERSEY CENTRAL POWER & LIGHT COMPANY
By:______________________________
T. G. Howson, Vice President
and Treasurer
Date: October 21, 1996<PAGE>
EXHIBIT TO BE FILED BY EDGAR
(c) Exhibits.
1. GPU News Release, dated October 16, 1996<PAGE>
Exhibit 1
(GPU NEWS RELEASE LETTERHEAD)
Date: Oct. 16, 1996
Further Information: John T. Fidler, 201-263-6479
For Release: Immediately
Release Number: 96-025
GPU SAYS NESTLE SUIT WITHOUT MERIT
Parsippany, N.J., Oct. 16, 1996 -- GPU, Inc. officials said
today that a breach of contract lawsuit naming one of its
subsidiaries as a defendant was without merit and would be
"vigorously defended."
The lawsuit, brought by Nestle Beverage Co. against Freehold
Cogeneration Associates, names Jersey Central Power & Light Co.,
the GPU subsidiary, as a defendant. The lawsuit relates to the
April 1996 agreement under which JCP&L agreed with Freehold Cogen
to buy out the power purchase agreement for the proposed Freehold
cogeneration project.
Dennis Baldassari, president of JCP&L, now doing business as
GPU Energy, said, "The lawsuit is without merit, and will be
defended vigorously. We entered into the buyout agreement with
Freehold Cogen in good faith and in the best interests of our
customers. As a result, the buyout and termination of the
Freehold project will save our customers more than $1.2 billion
in excess power charges over the next 20 years." <PAGE>
In the complaint, Nestle is seeking damages of at least $75
million for Freehold Cogen's alleged breach of a steam sales
agreement, and approximately $412 million in damages against
JCP&L for its alleged unlawful interference with that agreement.
The complaint also requests an unspecified amount of punitive
damages. The lawsuit was filed in New Jersey Superior Court.
About GPU
Formerly known as General Public Utilities Corporation, GPU,
Inc. is a registered holding company. Its three operating
subsidiaries -- JCP&L, Metropolitan Edison and Pennsylvania
Electric -- now doing business as GPU Energy, serve nearly 2
million customers in Pennsylvania and New Jersey.
GPU International and its affiliates develop, operate, own
and invest in generation, transmission and distribution
facilities in six U.S. states and five foreign countries:
Australia, Bolivia, Canada, Colombia, and the United Kingdom.
GPU Generation operates fossil-fueled and hydroelectric
facilities, while GPU Nuclear operates two nuclear generating
stations. GPU Service is a service company.<PAGE>
