Federal Register / Vol. 62, No. 21 / Friday, January 31, 1997 / Notices 4825

1The service territory of JCP&L is in New Jersey

and the service territories of Met-Ed and Penelec are

in Pennsylvania.

2Met-Ed and Penelec, together, and JCP&L, alone,

are authorized to deliver L/Cs in the aggregate face

amount not to exceed $20 million and $15 million,

respectively. Holding Co. Act Release No. 25793

(Apr. 14, 1993) (Met-Ed and Penelec); Holding Co.

Act Release No. 26003 (Mar. 15, 1994) (JCP&L).

separately by employees of each APS’

three Operating Companies, or by

employees of the Operating Companies

along with employees of APSC. Except

for the union work force and possibly

some other employees, the management,

engineering, maintenance, legal,

accounting, payables and administrative

and support functions previously

performed by employees of the

Operating Companies will be supplied,

after the realignment, by employees of

APSC. APS has been restructured into

the following functional units:

Operating Business Unit; Retail

Marketing; Corporate Affairs;

Generation Business Unit; Transmission

Business Unit; Planning and

Compliance Business Unit; and

Corporate Services, which serves the

business units. The restructuring did

not involve the formation of any new

legal entities, nor did it require the

writedown of any rate base assets. No

capital assets were transferred among

companies within APS in connection

with the restructuring. APSC’s current

method of allocations will be

maintained in the restructured

organization. No new methods of

allocations will be used.

The overall goals of the restructuring

have been to realign functions by

process and consolidate functions

where feasible. As a result thereof, most

of the functions which were performed

exclusively by the Operating Companies

have been consolidated into three units:

(1) Operating Business Unit; (2) Retail

Marketing Business Unit; and (3)

Corporate Affairs. The Vice Presidents

of these groups all report to a Senior

Vice President of APSC, who also holds

the title of President of each of the

Operating Companies. Some of the main

goals of the restructuring of these

functions include establishing a teamoriented environment, maintaining

fewer layers of management,

establishing broader job classifications,

and establishing an integrated work

management system to schedule, design,

track, and finish jobs.

GPU, Inc., et al. (70–8967)

GPU, Inc. (‘‘GPU’’), of 100 Interpace

Parkway, Parsippany, New Jersey 07054,

a registered holding company, and its

electric utility subsidiaries, Jersey

Central Power & Light Company

(‘‘JCP&L’’), Metropolitan Edison

Company (‘‘Met-Ed’’) and Pennsylvania

Electric Company (‘‘Penelec’’), each of

2800 Pottsville Pike, Reading,

Pennsylvania 19605 (JCP&L, Met-Ed and

Penelec, collectively, ‘‘Operating

Companies’’), have filed a declaration

under sections 6(a), 7 and 12(b) of the

Act and rule 54 thereunder.

The Operating Companies presently

maintain insurance policies providing

coverage for workers compensation

claims and employee claims asserted

directly against the Operating

Companies.1 Under these policies, the

insurance company administers and

pays all claims and expenses as they

arise; subsequently, however, the

Operating Companies reimburse the

insurance company for the amount of

each claim paid up to the deductible

and all expenses paid. Pursuant to

orders of the Commission, the Operating

Companies are authorized, among other

things, to enter into letter of credit

reimbursement agreements with banks

and to deliver to the insurance company

irrevocable bank letters of credit (‘‘L/

Cs’’) from time to time through

December 31, 1998, as security for the

Operating Companies’ obligations to pay

the deductible.2

The Operating Companies state that it

might be more efficient for the

insurance policies to cover, in addition

to their employees, the Pennsylvania

and New Jersey employees of GPU

Service, Inc., GPU Nuclear, Inc. and

GPU Generation, Inc., service company

subsidiaries of GPU (collectively,

‘‘Service Companies’’). To support the

obligations of the Service Companies to

pay the deductible, the applicants

intend that corresponding, additional L/

C coverage provided to the insurance

companies.

The applicants also state that it would

be cost-effective and less burdensome

administratively for GPU to provide L/

Cs for the Operating Companies and

Service Companies. GPU seeks

authorization to obtain and deliver L/Cs

and enter related reimbursement

agreements from time to time through

December 31, 2006 in support of the

Operating Companies’ and Service

Companies’ reimbursement obligations

to the insurance companies. The

aggregate face amount of L/Cs which

may be outstanding at any time would

not exceed $40 million: $20 million in

respect of all Pennsylvania employees of

the Operating Companies and Service

Companies, and the remaining $20

million in respect of all New Jersey

employees of the Operating Companies

and Service Companies. Drawings under

the L/C would bear interest at not more

than five percent above the issuing

bank’s prime rate as in effect from time

to time. The term of each L/C would not

exceed three years.

GPU will allocate the fees of each L/

C to the Operating Companies and

Service Companies on whose behalf the

L/C was issued based on loss exposure

(determined generally by payroll) in the

applicable state. GPU will also seek

reimbursement for a drawing under an

L/C from the Operating Company or

Service Company that failed to

reimburse the insurance company for

the applicable deductible resulting in

such drawing.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–2359 Filed 1–30–97; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF STATE

[Public Notice No. 2508]

Advisory Committee on Religious

Freedom Abroad; Meeting

The Department of State announces a

meeting of the Secretary of State’s

Advisory Committee on Religious

Freedom Abroad on Thursday, February

13, 1997 at 10:00 a.m. in the Loy

Henderson room at the U.S. Department

of State, Washington, DC. The Advisory

Committee will consider topics related

to the promotion of freedom of religion.

Topics for consideration could include:

Assessing religious freedom abroad and

instances of persecution, and assessing

the role of religious institutions in

promoting an atmosphere in which

human rights and freedom of conscience

can be enjoyed.

For more information, contact

Alexandra Arriaga, Executive Secretary,

Advisory Committee on Religious

Freedom Abroad, Bureau of Democracy,

Human Rights, and Labor, Department

of State, Washington, DC 20520,

telephone: 647–1422.

Dated: January 28, 1997.

John Shattuck,

Assistant Secretary of State Bureau of

Democracy, Human Rights and Labor,

Chairman, Advisory Committee on Religious

Freedom Abroad.

[FR Doc. 97–2577 Filed 1–29–97; 1:06 pm]

BILLING CODE 4710–07–M