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 20, 1995
PENNSYLVANIA ELECTRIC COMPANY
(Exact name of registrant as specified in charter)
Pennsylvania 1-3522 25-0718085
(State or other (Commission (IRS employer
jurisdiction of file number) identification no.)
incorporation)
2800 Pottsville Pike, Reading, Muhlenberg Township, Berks County,
PA 19640-0001
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (814) 533-
8111<PAGE>
ITEM 5. OTHER EVENTS
(a) Three Mile Island Unit 2
As previously reported, on September 20, 1995, the
Pennsylvania Supreme Court reversed a lower court decision and
restored a March 1993 order of the Pennsylvania Public Utility
Commission ("PaPUC") permitting the Company's affiliate, Metro-
politan Edison Company ("Met-Ed"), to recover estimated Three
Mile Island Unit 2 ("TMI-2") decommissioning costs from
customers. TMI-2 is jointly owned by the Company and its
affiliates as follows: Met-Ed, 50%; the Company, 25%; and Jersey
Central Power & Light Company ("JCP&L"), 25%.
Following the lower court's decision in July 1994, GPU
had written off, after tax, $104.9 million (Met-Ed - $72.8
million and Penelec - $32.1 million), or $0.91 per share in the
second quarter of 1994. The Supreme Court decision effectively
reverses this write off, and GPU therefore will report the entire
$104.9 million as income in the third quarter of 1995.
This amount includes $2.7 million of certain TMI-2
monitored storage costs which the Company had expected to collect
from Pennsylvania customers. Because, notwithstanding the
Supreme Court decision, the Company does not now believe the
collection of these costs to be probable, the Company is charging
to income $2.7 million in the third quarter of 1995.
1<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.
PENNSYLVANIA ELECTRIC COMPANY
By:______________________________
T. G. Howson, Vice President
and Treasurer
Date: October 4, 1995<PAGE>
