EXHIBIT I
GPU, Inc. (70-7926)
GPU, Inc. ("GPU"), 000 Xxxxxxxxx Xxxxxxx, Xxxxxxxxxx, Xxx Xxxxxx 00000,
a registered holding company, and its public-utility subsidiary companies,
Jersey Central Power & Light Company ("JCP&L"), Metropolitan Edison Company
("Met-Ed")and Pennsylvania Electric Company ("Penelec"), 0000 Xxxxxxxxxx Xxxx,
Reading, Pennsylvania 19640 (collectively, the "GPU Companies"), have filed a
post-effective amendment under Sections 6(a) and 7 of the Act and Rules 53 and
54 thereunder to their Declaration on Form U-1.
By Order dated October 26, 1994 (HCAR No. 35-26150) (the "Order"), the
Commission, among other things, authorized (1) the GPU Companies to issue, sell
and xxxxx from time to time through December 31, 1997 their respective unsecured
promissory notes ("Unsecured Promissory Notes"), maturing not more than nine
months after issuance, to various commercial banks pursuant to loan
participation arrangements and informal lines of credit ("Lines of Credit") in
amounts up to the limitations on short-term indebtedness contained in their
respective charters, and in the case of GPU, up to $200 million; (2) JCP&L,
Met-Ed and Penelec to issue and sell from time to time through December 31, 1997
their unsecured short-term promissory notes as commercial paper ("Commercial
Paper") in amounts up to the limits permitted by their respective charters;
(3) the GPU Companies to issue, sell and renew unsecured promissory notes
to lenders other than commercial banks, insurance companies or similar
institutions ("Other Short-Term Debt") from time to time through
December 31, 1997 in amounts up to the limitations on short-term indebtedness
contained in their respective charters and, in the case of GPU, $200 million
and (4) the GPU Companies to issue, sell and renew unsecured promissory
notes pursuant to a revolving credit agreement ("Credit Agreement") up to
$250 million and, in the case of GPU, $200 million (Borrowings under Lines of
Credit, Commercial Paper and Other Short-Term Debt are collectively
referred to as "Short-Term Borrowings").
By Supplemental Order dated July 17, 1996 (HCAR No. 35-26544) (the
"Supplemental Order"), the Commission, among other things, (1) authorized the
GPU Companies to enter into an Amended and Restated Credit Agreement ("Restated
Credit Agreement") which permits borrowings thereunder through May 6, 2001, and
(2) increased the amount which GPU may borrow under the Restated Credit
Agreement and Short-Term Borrowings to $250 million.
Since the authorization pursuant to the Order and Supplemental Order to
issue, sell and renew Short-Term Borrowings expires on December 31, 1997, the
GPU Companies request that the period during which they may issue, sell and
renew Short-Term Borrowings be extended to December 31, 2000. In all other
respects, the transactions remain as described in the Declaration, as amended.
Interested persons wishing to comment or request a hearing on the
2
post-effective amendment should submit their views in writing by December 12,
1997, to the Secretary, Securities and Exchange Commission, Washington, D.C.
20549, and serve a copy on the declarants at the addresses specified above.
Proof of service (by affidavit or, in case of an attorney at law, by
certificate) should be filed with the request. Any request for hearing shall
identify specifically the issues of fact or law that are disputed. A person who
so requests will be notified of any hearing, if ordered, and will receive a copy
of any notice or order issued in the matter. After said date, the post-effective
amendment, as filed or as amended, may be permitted to become effective.
3
