FirstEnergy U5S for the Year Ending 12/31/2004

SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549




FORM U5S





ANNUAL REPORT
For the Year Ended December 31, 2004







Filed pursuant to the Public Utility Holding Company Act of 1935


by


FirstEnergy Corp. (File No. 333-21011)
76 South Main Street, Akron, Ohio 44308

 

 







FIRSTENERGY CORP.
FORM U5S
ANNUAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2004
 
TABLE OF CONTENTS


Item
No.
 
 
Title
 
 
Page
         
1.
 
System Companies and Investments Therein
 
1-18
         
2.
 
Acquisitions or Sales of Utility Assets
 
19
         
3.
 
Issue, Sale, Pledge, Guarantee or Assumption
   
   
of System Securities
 
20
         
4.
 
Acquisition, Redemption or Retirement of
   
   
System Securities
 
21-31
         
5.
 
Investments in Securities of Nonsystem Companies
 
32
         
6.
 
Officers and Directors
 
33-46
         
7.
 
Contributions and Public Relations
 
47
         
8.
 
Service, Sales and Construction Contracts
 
48
         
9.
 
Wholesale Generators and Foreign Utility Companies
 
49-52
         
10.
 
Financial Statements and Exhibits:
 
53
         
   
Consent of Independent Public Accountants
 
54
         
   
Consolidating Financial Statements of
   
   
FirstEnergy Corp. for 2004  
 
55-89
         
   
Exhibits
 
90-133
         
   
Signature Page
 
134







ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004

       
Number of
 
 
 
 
 
(In Thousands Dollar)
 
 
Name of Company
 
 
Business Type
 
Common Shares Owned
 
% of
 Voting
Power
 
Issuer Book Value
 
Owner’s Book Value
 
                       
FirstEnergy Corp. (FirstEnergy):
 
   Registered holding 
   company
                 
Unsecured notes (11)
                     
4,515,000
   
4,515,000
 
Money pool (13)
                     
922,031
   
922,031
 
                                 
American Transmission Systems, Incorporated (ATSI)
   
Electric utility company
   
1
   
100.00
%
 
295,420
   
295,420
 
Money pool (13)
                     
97,965
   
97,965
 
                                 
Centerior Service Company*
   
Inactive
   
750
   
100.00
%
           
                                 
FE Acquisition Corp.*
   
Inactive
   
65
   
100.00
%
           
Mid-Atlantic Energy Development Co.*
   
Inactive
   
1,900
   
100.00
%
           
                                 
FE Holdings, L.L.C.* (6)
   
Inactive
         
100.00
%
           
                                 
FELHC, Inc. (FELHC)
   
Exempt telecommunications Company (ETC)
 
1
   
100.00
%
 
32
   
32
 
Money pool (13)
                     
44
   
44
 
                                 
First Communications, LLC (6)
   
ETC
         
65.00
%
 
8,629
   
8,629
 
Unsecured notes (11)
                     
5,000
   
5,000
 
                                 
FirstEnergy Facilities Services Group, LLC (FEFSG) (6)
   
Nonutility holding company
   
66
   
100.00
%
 
90,753
   
90,753
 
Secured notes (11)
                     
7,340
   
7,340
 
Short-term debt (12)
                     
3,482
   
3,482
 
Money pool (13)
                     
(8,877
)
 
(8,877
)
Dunbar Mechanical, Inc.
   
Rule 58 energy-related
   
277
   
100.00
%
 
***
   
***
 
Edwards Electrical & Mechanical, Inc.
   
Rule 58 energy-related
   
435
   
100.00
%
 
***
   
***
 
Elliott-Lewis Corporation
   
Rule 58 energy-related
   
100
   
100.00
%
 
***
   
***
 
A.A. Duckett, Inc.
   
Rule 58 energy-related
   
1,000
   
100.00
%
 
***
   
***
 
Duckett Plumbing, LLC (6)
   
Rule 58 energy-related
         
90.00
%
           
E-L Enterprises, Inc.
   
Nonutility holding company
   
1,000
   
100.00
%
           
Modern Air Conditioning, Inc.
   
Rule 58 energy-related
   
49,950
   
100.00
%
 
***
   
***
 
Airdex Air Conditioning Corporation
   
Rule 58 energy-related
   
100
   
100.00
%
 
***
   
***
 
R.L. Anderson, Inc.
   
Rule 58 energy-related
   
9,800
   
100.00
%
 
***
   
***
 
Sautter Crane Rental, Inc.
   
Rule 58 energy-related
   
100
   
100.00
%
           
L.H. Cranston and Sons, Inc.
   
Rule 58 energy-related
   
1,000
   
100.00
%
 
***
   
***
 
Roth Bros., Inc.
   
Rule 58 energy-related
   
792
   
100.00
%
 
***
   
***
 
R.P.C. Mechanical, Inc.
   
Rule 58 energy-related
   
100
   
100.00
%
 
***
   
***
 
Spectrum Controls Systems, Inc.
   
Rule 58 energy-related
   
35
   
100.00
%
 
***
   
***
 
The Hattenbach Company
   
Rule 58 energy-related
   
531
   
100.00
%
 
***
   
***
 

1

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

       
Number of
 
 
 
 
 
(In Thousands Dollar)
 
 
Name of Company
 
 
Business Type
 
Common Shares Owned
 
% of
Voting
Power
 
Issuer Book Value
 
Owner’s Book Value
 
FirstEnergy Foundation
   
Charitable foundation
         
100.00
%
           
                                 
FirstEnergy Nuclear Operating Company (FENOC)
   
Energy-related company
   
1
   
100.00
%
 
(11,200
)
 
(11,200
)
Money pool (13)
                     
(58,559
)
 
(58,559
)
                                 
FirstEnergy Properties, Inc. (FE Properties)
   
Real estate subsidiary
   
400
   
100.00
%
 
33,037
   
33,037
 
Secured notes (11)
                     
9,182
   
9,182
 
Money pool (13)
                     
24,438
   
24,438
 
BSG Properties, Inc.*
   
Real estate subsidiary
   
10
   
100.00
%
           
                                 
FirstEnergy Securities Transfer Company (FirstEnergy Transfer)
   
Stock transfer service
   
1
   
100.00
%
           
     
 
                         
FirstEnergy Service Company (FECO)
   
Service company
   
1
   
100.00
%
 
4,624
   
4,624
 
                                 
FirstEnergy Solutions Corp. (FES)
   
Rule 58 energy-related
   
8
   
100.00
%
 
170,247
   
170,247
 
Money pool (13)
                     
(245,215
)
 
(245,215
)
FirstEnergy Engineering, Incorporated
   
Rule 58 energy-related
   
100
   
100.00
%
 
***
   
***
 
FirstEnergy Generation Corp. (GenCo)
   
Exempt wholesale generator
   
1
   
100.00
%
 
***
   
***
 
Pollution control notes (11)
                     
15,000
   
15,000
 
Money pool (13)
                     
(706,545
)
 
(706,545
)
                                 
FirstEnergy Telecom Services, Inc.
   
ETC
   
100
   
100.00
%
 
(5,751
)
 
(5,751
)
Money pool (13)
                     
(26,108
)
 
(26,108
)
AFN Finance Company No. 1, LLC (6)
   
ETC
         
100.00
%
           
                                 
FirstEnergy Ventures Corp. (FirstEnergy Ventures)
   
Nonutility holding company
   
102
   
100.00
%
 
110,446
   
110,446
 
Money pool (13)
                     
17,252
   
17,252
 
Bay Shore Power Company
   
Rule 58 energy-related
   
1
   
100.00
%
 
***
   
***
 
Secured notes (11)
                     
137,500
   
137,500
 
Money pool (13)
                     
6,181
   
6,181
 
Centerior Communications Holdings, Inc.
   
Nonutility holding company
   
10
   
100.00
%
 
***
   
***
 
Fiber Venture Equity, Inc.*
   
ETC
   
10
   
100.00
%
           
AFN Finance Company No. 3, LLC (6)
   
ETC
         
100.00
%
           
Centerior Energy Services, Inc.
   
Rule 58 energy-related
   
100
   
100.00
%
 
***
   
***
 
Money pool (13)
                     
445
   
445
 
Centerior Power Enterprises, Inc.*
   
Inactive
   
10
   
100.00
%
           
Eastroc Technologies, LLC* (6)
   
Rule 58 energy-related
         
50.00
%
           
Engineered Processes, Ltd.* (6)
   
Rule 58 energy-related
         
50.00
%
           
FirstEnergy Telecommunications Corp.
   
ETC
   
1
   
100.00
%
 
***
   
***
 
Money pool (13)
                     
(1,128
)
 
(1,128
)

2

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

       
Number of
 
 
 
 
(In Thousands Dollar)
 
 
Name of Company
 
 
Business Type
 
Common
Shares Owned
 
% of
Voting
Power
 
Issuer Book Value
 
Owner’s Book Value
 
Warrenton River Terminal, Ltd. (6)
   
Rule 58 energy-related
   
-
   
100.00
%
 
***
   
***
 
Secured notes (11)
                     
220
   
220
 
Money pool (13)
                     
88
   
88
 
                                 
GPU Capital, Inc. (GPU Capital)
   
Foreign utility company
   
100
   
100.00
%
 
175,400
   
175,400
 
Money pool (13)
                     
234,267
   
234,267
 
GPU Electric, Inc. (GPU Electric)
   
Foreign utility company
   
100
   
100.00
%
 
***
   
***
 
Money pool (13)
                     
166,323
   
166,323
 
EI UK Holdings, Inc. (EIUK)
   
Foreign utility company
   
100
   
100.00
%
 
***
   
***
 
Money pool (13)
                     
(65,921
)
 
(65,921
)
Aquila Sterling Holdings LLC (5) (6)
   
Foreign utility company
         
50.00
%
           
GPU Argentina Services S.R.L.
   
Foreign utility company
         
100.00
%
           
 
                               
GPU Diversified Holdings, LLC (GPUDH) (6)
   
Nonutility holding company
   
100
   
100.00
%
 
19,836
   
19,836
 
Money pool (13)
                     
1,557
   
1,557
 
Ballard Generation Systems, Inc.
               
7.41
%
 
9,262
   
9,262
 
GPU Distributed Power, Inc.
   
Rule 58 energy-related
   
100
   
100.00
%
           
GPU EnerTech Holdings, Inc.
   
Rule 58 energy-related
   
100
   
100.00
%
           
EnviroTech Investment Fund I LP (1) (6)
   
Rule 58 energy-related
         
9.89
%
 
433
   
433
 
GPU Solar, Inc.
   
Rule 58 energy-related
   
50
   
50.00
%
 
289
   
289
 
                                 
GPU Nuclear, Inc. (GPUN)
   
Service company
   
2,500
   
100.00
%
 
50
   
50
 
Money pool (13)
                     
2,123
   
2,123
 
Private Fuel Storage LLC (6)
               
10.10
%
           
                                 
GPU Power, Inc. (GPU Power)
   
Exempt wholesale generator
   
100
   
100.00
%
 
37,874
   
37,874
 
Money pool (13)
   
 
               
38,255
   
38,255
 
EI Canada Holding Limited (6)
   
Exempt wholesale generator
   
100
   
100.00
%
           
EI Brooklyn Power Limited (6)
   
Exempt wholesale generator
   
100
   
100.00
%
           
EI Brooklyn Investments Limited (6)
   
Exempt wholesale generator
   
1
   
100.00
%
           
EI Services Canada Limited (6)
   
Exempt wholesale generator
   
100
   
100.00
%
           
                                 
Jersey Central Power & Light Company (JCP&L)
   
Public utility company
   
15,371,270
   
100.00
%
 
3,155,362
   
3,155,362
 
First mortgage bonds (11)
                     
383,185
   
383,185
 
Secured notes (11)
                     
880,612
   
880,612
 
Money pool (13)
                     
(248,532
)
 
(248,532
)
JCP&L Transition Funding, LLC (6)
   
Financing subsidiaries
   
100
   
100.00
%
 
1,626
   
1,626
 
JCP&L Transition Funding II, LLC (6) (10)
   
Financing subsidiaries
         
100.00
%
           
Saxton Nuclear Experimental Corporation* (2)
   
Energy-related company
         
44.00
%
           
                                 

3

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)


       
Number of
 
 
 
 
(In Thousands Dollar)
 
 
Name of Company
 
 
Business Type
 
Common
Shares Owned
 
% of
Voting Power
 
Issuer Book Value
 
Owner’s Book Value
 
                       
MARBEL Energy Corporation (MARBEL)
   
Energy-related company
   
991
   
100.00
%
 
141,151
   
141,151
 
Money pool (13)
                     
118,602
   
118,602
 
Marbel HoldCo, Inc.
   
Nonutility holding company
   
100
   
100.00
%
 
***
   
***
 
                                 
Metropolitan Edison Company (Met-Ed)
   
Public utility company
   
859,500
   
100.00
%
 
1,285,419
   
1,285,419
 
First mortgage bonds (11)
                     
80,020
   
80,020
 
Unsecured notes (11)
                     
650,000
   
650,000
 
Money pool (13)
                     
(80,090
)
 
(80,090
)
MetEd Funding LLC (6) (14)
   
Financing subsidiaries
         
100.00
%
 
8,582
   
8,582
 
Money pool (13)
                     
5,365
   
5,365
 
Met-Ed Preferred Capital II, Inc.
   
Financing subsidiaries
   
100
   
100.00
%
 
2,562
   
2,562
 
Met-Ed Capital II, L. P. (6) (9)
   
Financing subsidiaries
   
-
   
100.00
%
           
Met-Ed Capital Trust (9)
   
Financing subsidiaries
   
-
   
100.00
%
           
Saxton Nuclear Experimental Corporation* (2)
   
Energy-related company
         
32.00
%
           
York Haven Power Company
   
Electric utility company
   
500
   
100.00
%
 
26,949
   
26,949
 
Money pool (13)
                     
13,404
   
13,404
 
                                 
MYR Group Inc. (MYR)
   
Energy-related company
   
100
   
100.00
%
 
127,434
   
127,434
 
Money pool (13)
                     
4,143
   
4,143
 
ComTel Technology, Inc.
   
Energy-related company
   
50,000
   
100.00
%
 
***
   
***
 
Great Southwestern Construction, Inc.
   
Energy-related company
   
50,000
   
100.00
%
 
***
   
***
 
Harlan Electric Company
   
Energy-related company
   
100
   
100.00
%
 
***
   
***
 
Power Piping Company
   
Energy-related company
   
9,900
   
100.00
%
 
***
   
***
 
Sturgeon Electric Company, Inc.
   
Energy-related company
   
100
   
100.00
%
 
***
   
***
 
Hawkeye Construction, Inc.
   
Energy-related company
   
550
   
100.00
%
 
***
   
***
 
MYRcom, Inc.
   
Energy-related company
   
100
   
100.00
%
 
***
   
***
 
MYRpower, Inc.
   
Energy-related company
   
100
   
100.00
%
 
***
   
***
 
The L. E. Myers Co.
   
Energy-related company
   
1,000
   
100.00
%
 
***
   
***
 
                                 
Ohio Edison Company (OE)
   
Public utility company
   
100
   
100.00
%
 
2,493,809
   
2,493,809
 
First mortgage bonds (11)
                     
80,000
   
80,000
 
   Secured notes (11)
                     
765,435
   
765,435
 
Unsecured notes (11)
                     
511,000
   
511,000
 

4

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

       
Number of
 
 
 
 
 
(In Thousands Dollar)
 
 
Name of Company
 
 
Business Type
 
Common
Shares Owned
 
% of
Voting Power
 
Issuer Book Value
 
Owner’s Book Value
 
Short-term debt (12)
                     
21,000
   
21,000
 
Money pool (13)
                     
503,029
   
503,029
 
OES Capital, Incorporated
   
Financing subsidiaries
   
200
   
100.00
%
 
28,220
   
28,220
 
Short-term debt (12)
                     
141,935
   
141,935
 
Money pool (13)
                     
16,839
   
16,839
 
OES Finance, Incorporated*
   
Financing subsidiaries
   
140
   
100.00
%
           
OES Nuclear, Incorporated
   
Financing subsidiaries
   
1
   
100.00
%
 
12,473
   
12,473
 
Money pool (13)
                     
14,843
   
14,843
 
OES Ventures, Incorporated
   
Nonutility holding company
   
110
   
100.00
%
 
14,573
   
14,573
 
Money pool (13)
                     
2,761
   
2,761
 
PNBV Capital Trust (8)
   
Financing subsidiaries
   
-
   
49.00
%
 
20,883
   
20,883
 
Ohio Edison Financing Trust (6)
   
Financing subsidiaries
   
148,454
   
100.00
%
           
Ohio Edison Financing Trust II* (6)
   
Financing subsidiaries
   
-
   
100.00
%
           
Ohio Valley Electric Corporation (OVEC) (3)
   
Public utility company
   
16,500
   
16.50
%
 
1,650
   
1,650
 
Indiana-Kentucky Electric Corporation
                               
Pennsylvania Power Company (Penn)
   
Public utility company
   
6,290,000
   
100.00
%
 
327,379
   
327,379
 
First mortgage bonds (11)
                     
21,143
   
21,143
 
Secured notes (11)
                     
112,179
   
112,179
 
Unsecured notes (11)
                     
14,500
   
14,500
 
Money pool (13)
                     
(11789
)
 
(11,789
)
Penn Power Funding LLC (6) (16)
               
100.00
%
 
1,525
   
1,525
 
Money pool (13)
                     
(63
)
 
(63
)
Apollo Tax Credit Fund III, L. P. (6)
 
   
Affordable housing
 investments
         
33.33
%
 
500
   
500
 
Apollo Tax Credit Fund IX, L. P. (6)
 
   
Affordable housing investments
         
99.99
%
 
14,000
   
14,000
 
Short-term debt (12)
                     
4,072
   
4,072
 
Boston Capital Corporate Tax Credits IV, L. P. (6)
 
   
Affordable housing investments
         
2.95
%
 
565
   
565
 
Boston Capital Corporate Tax Credits X, L. P. (6)
 
   
Affordable housing investments
         
10.93
%
 
2,104
   
2,104
 
Boston Capital Corporate Tax Credits XVI, L. P. (6)
 
   
Affordable housing investments
         
14.00
%
 
5,411
   
5,411
 
Boston Capital Corporate Tax Credits XVII, L. P. (6)
 
   
Affordable housing investments
         
10.00
%
 
4,493
   
4,493
 
Boston Financial Institutional Tax Credits III, L. P. (6)
 
   
Affordable housing investments
         
5.38
%
 
1,007
   
1,007
 
Boston Financial Institutional Tax Credits V, L. P. (6)
 
   
Affordable housing investments
         
3.24
%
 
731
   
731
 
Boston Financial Institutional Tax Credits XVI, L. P. (6)
 
   
Affordable housing investments
         
5.83
%
 
2,579
   
2,579
 
EnviroTech Investment Fund I LP (1) (6)
   
Energy-related company
         
6.00
%
 
695
   
695
 
Marion Senior Housing Limited Partnership (6)
 
   
Affordable housing investments
         
29.47
%
 
1,131
   
1,131
 
McDonald Corporate Tax Credit Fund Limited
Partnership (6)
   
Affordable housing investments
         
12.37
%
 
233
   
233
 
McDonald Corporate Tax Credit Fund - 1995 Limited Partnership (6)
   
Affordable housing investments
         
9.00
%
 
952
   
952
 
McDonald Corporate Tax Credit Fund - 1996 Limited Partnership (6)
   
Affordable housing investments
         
42.13
%
 
4,356
   
4,356
 
McDonald Corporate Tax Credit Fund - 1998 Limited Partnership (6)
   
Affordable housing investments
         
30.94
%
 
2,081
   
2,081
 
Ohio Equity Fund for Housing Limited Partnership II (6)
 
   
Affordable housing investments
         
7.62
%
 
23
   
23
 
USA Institutional Tax Credit Fund VII, L. P. (6)
 
   
Affordable housing investments
         
8.11
%
 
1,654
   
1,654
 

5

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

       
Number of
 
 
 
 
 
(In Thousands Dollar)
 
 
Name of Company
 
 
Business Type
 
Common
Shares Owned
 
% of
Voting Power
 
Issuer Book Value
 
Owner’s Book Value
 
                       
Pennsylvania Electric Company (Penelec)
   
Public utility company
   
5,290,596
   
100.00
%
 
1,305,015
   
1,305,015
 
First mortgage bonds (11)
                     
72,805
   
72,805
 
Unsecured notes (11)
                     
418,000
   
418,000
 
Money pool (13)
                     
(241,496
)
 
(241,496
)
Nineveh Water Company
   
Energy-related company
   
5
   
100.00
%
 
1,213
   
1,213
 
Penelec Funding LLC (6) (15)
   
Financing subsidiaries
         
100.00
%
 
11,407
   
11,407
 
Money pool (13)
                     
7,352
   
7,352
 
Penelec Preferred Capital II, Inc.
   
Financing subsidiaries
   
100
   
100.00
%
 
2,496
   
2,496
 
Penelec Capital II, L. P. (6) (9)
   
Financing subsidiaries
         
100.00
%
           
Penelec Capital Trust (9)
   
Financing subsidiaries
         
100.00
%
           
Saxton Nuclear Experimental Corporation* (2)
   
Energy-related company
         
24.00
%
           
The Waverly Electric Light and Power Company
   
Electric utility company
   
600
   
100.00
%
 
15
   
15
 
                                 
The Cleveland Electric Illuminating Company (CEI)
   
Public utility company
   
79,590,689
   
100.00
%
 
1,853,561
   
1,853,561
 
First mortgage bonds (11)
                     
125,000
   
125,000
 
Unsecured notes (11)
                     
698,122
   
698,122
 
Secured notes (11)
                     
1,194,728
   
1,194,728
 
Money pool (13)
                     
(472,876
)
 
(472,876
)
Centerior Funding Corporation
   
Financing subsidiaries
   
1,000
   
100.00
%
 
148,624
   
148,624
 
Money pool (13)
                     
(3,775
)
 
(3,775
)
Cleveland Electric Financing Trust I*
   
Financing subsidiaries
   
123,720
   
100.00
%
           
The Toledo Edison Capital Corporation (TECC) (4)
   
Financing subsidiaries
   
28,036
   
10.00
%
           
Shippingport Capital Trust (7)
   
Financing subsidiaries
               
31,498
   
31,498
 
                                 
The Toledo Edison Company (TE)
   
Public utility company
   
39,133,887
   
100.00
%
 
835,327
   
835,327
 
Unsecured notes (11)
                     
90,950
   
90,950
 
Secured notes (11)
                     
291,751
   
291,751
 
Money pool (13)
                     
(429,518
)
 
(429,518
)
Ohio Valley Electric Corporation (OVEC) (3)
   
Public utility company
   
4,000
   
4.00
%
 
400
   
400
 
Indiana-Kentucky Electric Corporation
                               
The Toledo Edison Capital Corporation (TECC) (4)
   
Financing subsidiaries
   
1,000
   
90.00
%
 
26,474
   
26,474
 
Money pool (13)
                     
44
   
44
 
Shippingport Capital Trust (7)
   
Financing subsidiaries
               
2,063
   
2,063
 
                                 
Akron Development Fund I, Ltd.
               
7.92
%
 
454
   
454
 
                                 
The Cleveland New Market’s Investment Fund, LLC
 
   
Housing and urban development investments
         
13.33
%
 
1,003
   
1,003
 

6

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

       
Number of
 
 
 
 
 
(In Thousands Dollar)
 
 
Name of Company
 
 
Business Type
 
Common
Shares Owned
 
% of
Voting Power
 
Issuer Book Value
 
Owner’s Book Value
 
Kinetic Ventures I, LLC (6)
   
Rule 58 energy-related
         
11.11
%
 
2,052
   
2,052
 
                                 
Kinetic Ventures II, LLC (6)
   
Rule 58 energy-related
         
14.28
%
 
5,943
   
5,943
 
                                 
Kinetic Ventures III, LLC (6)
   
Rule 58 energy-related
         
8.00
%
           
                                 
MWV Pinnacle Capital Fund, L. P.
   
Economic/urban development investment
         
6.45
%
 
440
   
440
 
                                 
Nth Power Technologies II, LLC (6)
   
Rule 58 energy-related
         
8.22
%
 
3,941
   
3,941
 
Nth Power Technologies II-A, LLC (6)
   
Rule 58 energy-related
         
5.33
%
 
1,103
   
1,103
 
                                 
Pantellos Corporation
   
ETC
         
8.21
%
 
2,460
   
2,460
 
                                 
PowerSpan Corp.
   
Rule 58 energy-related
         
25.41
%
 
7,267
   
7,267
 
                                 
UMICO Holdings, Inc. (UMICO)*
         
71,947
   
36.00
%
           
                                 
Utility.com, Inc.
   
Rule 58 energy-related
         
5.0
%
           


*    Inactive

*** Filed pursuant to request for confidential treatment.




7


ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

Note:

(1)  
GPUDH owns a 9.89% interest and OE owns a 6% interest in EnviroTech Investment Fund I LP.

(2)  
JCP&L(44%), Met-Ed(32%), Penelec(24%) collectively own all of the common stock of Saxton Nuclear Experimental Corporation.

(3)  
OE owns a 16.5% interest in OVEC and TE owns a 4% interest in OVEC.

(4)  
TE owns a 90% interest in TECC and CEI owns the rest of 10% interest.

(5)  
EI UK Holdings, Inc. owns 50% voting (20.1% economic) interest in Aquila Sterling Holding LLC.

(6)  
A noncorporate subsidiary or affiliate.

(7)  
Under the FIN 46R, "Consolidation of Variable Interest Entities," which was adopted at year-end 2003, CEI was determined to be the primary beneficiary through its debt variable interest of Shippingport Capital Trust and therefore consolidated the trust. CEI has indirect owner’s interest in Shippingport Capital Trust through a 10% voting interest in TECC, TE has a 90% interest in TECC.

(8)  
Under the FIN 46R, OE was determined to be the primary beneficiary of PNBV Capital Trust. Ownership of the trust includes a 3% equity interest by a nonaffiliated third party and a 3% equity interest held by OES Ventures, a wholly owned subsidiary of OE.

(9)  
Met-Ed and Penelec created statutory business trusts to issue trust preferred securities. FirstEnergy adopted FIN 46R as of January 1, 2004, which resulted in the holders of the preferred securities being considered the primary beneficiaries of these trusts. Therefore, FirstEnergy, Met-Ed and Penelec do not consolidate the trusts.

(10)  
A limited liability company formed under the State of Delaware on March 29, 2004. JCP&L Transition Funding II LLC purchases and sells utility customer accounts receivables of JCP&L.

(11)  
Details of Unsecured Notes, Secured Notes and First Mortgage Bonds are presented after the footnote.

(12)  
Details of Short-term Debt are presented after the footnote.

(13)  
Details of Money Pool are presented after the footnote.

(14)  
A limited liability company formed under the State of Delaware on March 17, 2004. MetEd Funding LLC purchases and sells utility customer accounts receivables of Met-Ed. MetEd Funding LLC is consolidated into Met-Ed.

8

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

Note:

(15)  
A limited liability company formed under the State of Delaware on March 17, 2004. Penelec Funding LLC purchases and sells utility customer accounts receivables of Penelec. Penelec Funding LLC is consolidated into Penelec.

(16)  
A limited liability company formed under the State of Delaware on March 17, 2004. Penn Power Funding LLC purchases and sells utility customer accounts receivables of Penn Power. Penn Power Funding LLC is consolidated into Penn Power.



Note (11) Unsecured Notes, Secured Notes, and First Mortgage Bonds

FirstEnergy Corp.
     
Unsecured notes:
     
5.500% due 2006
$
1,000,000
 
6.450% due 2011
 
1,500,000
 
7.375% due 2031
 
1,500,000
 
3.575% due 2007
 
215,000
 
7.700% due 2005
 
300,000
 
Total unsecured notes
$
4,515,000
 
       
First Communications, LLC
     
Unsecured notes
$
5,000
 
       
FirstEnergy Facilities Services Group, LLC
     
Secured notes
$
7,340
 
       
FirstEnergy Properties, Inc.
     
Secured notes:
     
7.890% due 2006
$
9,182
 
       
FirstEnergy Generation, Corp.
     
Pollution Control Notes:
     
5.000% due 2028
$
15,000
 
       
Bay Shore Power Company
     
Secured notes:
     
5.875% due 2020
 
69,900
 
6.625% due 2020
 
67,600
 
 
$
137,500
 


9

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

Note (11) (Continued)

Warrenton River Terminal, Ltd.
     
Secured notes
$
220
 
       
Jersey Central Power & Light Company
     
First mortgage bonds:
     
6.850% due 2006
$
40,000
 
7.125% due 2009
 
5,985
 
7.100% due 2015
 
12,200
 
7.500% due 2023
 
125,000
 
8.450% due 2025
 
50,000
 
6.750% due 2025
 
150,000
 
Total first mortgage bonds
$
383,185
 
       
Secured notes:
     
6.450% due 2006
$
150,000
 
4.190% due 2007
 
51,723
 
5.390% due 2010
 
52,297
 
5.810% due 2013
 
77,075
 
5.625% due 2016
 
300,000
 
6.160% due 2017
 
99,517
 
4.800% due 2018
 
150,000
 
Total secured notes
$
880,612
 
       
Metropolitan Edison Company
     
First mortgage bonds:
     
6.770% due 2005
$
30,000
 
6.000% due 2008
 
7,830
 
6.100% due 2021
 
28,500
 
5.950% due 2027
 
13,690
 
Total first mortgage bonds
$
80,020
 
       
Unsecured notes:
     
5.720% due 2006
$
100,000
 
5.930% due 2007
 
50,000
 
4.450% due 2010
 
100,000
 
4.950% due 2013
 
150,000
 
4.875% due 2014
 
250,000
 
Total unsecured notes
$
650,000
 
       

10

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

Note (11) (Continued)

Ohio Edison Company-
   
First mortgage bonds:
   
6.875% due 2005
$
80,000
 
Total first mortgage bonds
$
80,000
 
       
Secured notes:
     
7.680% due 2005
$
51,461
 
*1.700% due 2015
 
19,000
 
6.750% due 2015
 
40,000
 
*3.250% due 2015
 
50,000
 
*1.800% due 2016
 
47,725
 
7.050% due 2020
 
60,000
 
*1.700% due 2021
 
443
 
5.375% due 2028
 
13,522
 
5.625% due 2029
 
50,000
 
5.950% due 2029
 
56,212
 
*1.710% due 2030
 
60,400
 
*1.700% due 2031
 
69,500
 
*1.800% due 2033
 
44,800
 
1.750% due 2033
 
12,300
 
5.450% due 2033
 
14,800
 
*2.250% due 2033
 
50,000
 
1.800% due 2033
 
108,000
 
Limited Partnerships-
     
7.35% weighted average interest rate due 2005-2010
 
17,272
 
Total secured notes
$
765,435
 
       
Unsecured notes:
     
4.000% due 2008
$
175,000
 
*1.980% due 2014
 
50,000
 
5.450% due 2015
 
150,000
 
*2.230% due 2018
 
33,000
 
*2.150% due 2018
 
23,000
 
*2.150% due 2023
 
50,000
 
*3.350% due 2033
 
30,000
 
Total unsecured notes
$
511,000
 
       


11

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

Note (11) (Continued)

Pennsylvania Power Company
     
First mortgage bonds-
     
9.740% due 2005-2019
$
14,643
 
7.625% due 2023
 
6,500
 
Total first mortgage bonds
$
21,143
 
       
Secured notes-
     
5.400% due 2013
$
1,000
 
5.400% due 2017
 
10,600
 
*1.700% due 2017
 
17,925
 
5.900% due 2018
 
16,800
 
*1.700% due 2021
 
14,482
 
6.150% due 2023
 
12,700
 
*2.000% due 2027
 
10,300
 
5.375% due 2028
 
1,734
 
5.450% due 2028
 
6,950
 
6.000% due 2028
 
14,250
 
5.950% due 2029
 
238
 
*1.800% due 2033
 
5,200
 
Total secured notes
$
112,179
 
       
Unsecured notes-
     
*3.375% due 2029
$
14,500
 
Total unsecured notes
$
14,500
 
       


12

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

Note (11) (Continued)

Pennsylvania Electric Company 
     
First mortgage bonds:
     
6.125% due 2007
$
3,495
 
5.350% due 2010
 
12,310
 
5.350% due 2010
 
12,000
 
5.800% due 2020
 
20,000
 
6.050% due 2025
 
25,000
 
Total first mortgage bonds
$
72,805
 
       
Unsecured notes:
     
7.500% due 2005
$
8,000
 
6.125% due 2009
 
100,000
 
7.770% due 2010
 
35,000
 
5.125% due 2014
 
150,000
 
6.625% due 2019
 
125,000
 
Total unsecured notes
$
418,000
 
       


13

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

Note (11) (Continued)

The Cleveland Electric Illuminating Company
     
First mortgage bonds:
     
6.860% due 2008
$
125,000
 
Total first mortgage bonds
$
125,000
 
       
Unsecured notes:
     
6.000% due 2013
$
78,700
 
5.650% due 2013
 
300,000
 
9.000% due 2031
 
103,093
 
*2.000% due 2033
 
27,700
 
   
509,493
 
7.743% due to associated companies 2006-2016
 
188,629
 
Total unsecured notes
$
698,122
 
       
Secured notes:
     
7.000% due 2005-2009
$
1,700
 
7.130% due 2007
 
120,000
 
7.430% due 2009
 
150,000
 
*1.850% due 2015
 
39,835
 
7.880% due 2017
 
300,000
 
*1.850% due 2018
 
72,795
 
*2.000% due 2020
 
47,500
 
6.000% due 2020
 
62,560
 
6.100% due 2020
 
70,500
 
7.625% due 2025
 
53,900
 
7.700% due 2025
 
43,800
 
7.750% due 2025
 
45,150
 
5.375% due 2028
 
5,993
 
*1.700% due 2030
 
23,255
 
*3.750% due 2030
 
81,640
 
*1.800% due 2033
 
30,000
 
*1.750% due 2033
 
46,100
 
Total secured notes
$
1,194,728
 
     


14

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

Note (11) (Continued)

The Toledo Edison Company
   
Unsecured notes:
     
*1.980% due 2030
$
34,850
 
*4.500% due 2033
 
31,600
 
*2.000% due 2033
 
18,800
 
*3.100% due 2033
 
5,700
 
Total unsecured notes
$
90,950
 
       
Secured notes:
     
7.130% due 2007
$
30,000
 
7.625% due 2020
 
45,000
 
7.750% due 2020
 
54,000
 
*1.750% due 2024
 
67,300
 
6.100% due 2027
 
10,100
 
5.375% due 2028
 
3,751
 
*1.690% due 2033
 
30,900
 
*1.800% due 2033
 
20,200
 
*1.750% due 2033
 
30,500
 
Total secured notes
$
291,751
 
       
* Denotes variable rate issue with December 31, 2004 interest rate shown.
     
       



Note (12) Short-term Debt

FirstEnergy Facilities Services Group, LLC
     
4.5420%
$
3,482
 
     
Ohio Edison Company
   
3.0600%
 
14,000
 
3.4300%
$
7,000
 
Total short-term debt
$
21,000
 


15

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

Note (12) (Continued)

OES Capital, Incorporated
     
2.2409%
$
141,935
 
       
Apollo Tax Credit Fund
     
 
$
4,072
 



Note (13) Money Pool

     
Loan to/
 
December 31, 2004
 
(Borrowing from)
Company
Interest Rate
 
(In Thousands $)
           
American Transmission Systems, Incorporated
1.9993%
   
97,965
 
Bay Shore Power Company
1.9737%
   
6,181
 
Centerior Energy Services, Inc.
1.9737%
   
445
 
Centerior Funding Company
1.9737%
   
(3,775
)
EI UK Holdings, Inc.
1.9737%
   
(65,921
)
FELHC, Inc.
1.9737%
   
44
 
Fiber Venture Equity, Inc.
1.9737%
   
33,305
 
FirstEnergy Corp.
1.9737%
   
922,031
 
FirstEnergy Facilities Service Group LLC
1.9737%
   
(8,877
)
FirstEnergy Generation Corp.
1.9737%
   
(706,545
)
FirstEnergy Nuclear Operating Company
1.9737%
   
(58,559
)
FirstEnergy Properties, Inc.
1.9737%
   
24,438
 
FirstEnergy Solutions Corp.
1.9737%
   
(245,215
)
FirstEnergy Telecom Services, Inc.
1.9737%
   
(26,108
)
FirstEnergy Ventures Corp.
1.9737%
   
17,252
 
FirstEnergy Telecommunications Corp.
1.9737%
   
(1,128
)


16

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

Note (13) (Continued)

     
Loan to/
 
December 31, 2004
 
(Borrowing from)
Company
Interest Rate
 
(In Thousands $)
           
GPU Capital, Inc.
1.9737%
   
234,267
 
GPU Diversified Holdings, LLC
1.9737%
   
1,557
 
GPU Electric, Inc.
1.9737%
   
166,323
 
GPU Nuclear, Inc.
1.9737%
   
2,123
 
GPU Power, Inc.
1.9737%
   
38,255
 
Jersey Central Power & Light Company
1.9993%
   
(248,532
)
MARBEL Energy Corporation
1.9737%
   
118,602
 
MetEd Funding LLC
1.9737%
   
5,365
 
Metropolitan Edison Company
1.9993%
   
(80,090
)
MYR Group Inc.
1.9737%
   
4,143
 
OES Capital, Incorporated
1.9737%
   
16,839
 
OES Nuclear Company
1.9737%
   
14,843
 
OES Ventures, Incorporated
1.9737%
   
2,761
 
Ohio Edison Company
1.9993%
   
503,029
 
Penelec Funding LLC
1.9737%
   
7,352
 
Penn Power Funding LLC
1.9737%
   
(63
)
Pennsylvania Electric Company
1.9993%
   
(241,496
)
Pennsylvania Power Company
1.9993%
   
(11,789
)
The Cleveland Electric Illuminating Company
1.9993%
   
(472,876
)
The Toledo Edison Company
1.9993%
   
(429,518
)
Toledo Edison Capital Company
1.9737%
   
44
 
Warrenton River Terminal, Ltd.
1.9737%
   
88
 
York Haven Power Company
1.9993%
   
13,404
 
           

17

ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 2004 (Continued)

Changes in the status of subsidiary during 2004:

GPU Telcom Services, Inc. renamed to FirstEnergy Telecom Services, Inc. on January 1, 2004.


FirstEnergy sold its 20.1% interest in Aquila Sterling Limited, parent company of Avon Energy Partners Holdings and Midlands Electricity plc on January 16, 2004.


FirstEnergy sold its 28.67% interest in Termobarranquilla S.A. (TEBSA); Barranquilla Lease Holding, Inc.; Los Amigos Leasing Company, Ltd.; EI Barranquilla, Inc.; EI International and GPUI Colombia, Ltda. to Darby Delaware Mezzanine Holdings L.L.C. on January 30, 2004.


MetEd Funding LLC, Penelec Funding LLC, and Penn Power Funding LLC were formed on March 17, 2004.


JCP&L Transition Funding II LLC was formed on March 29, 2004.


OES Finance, Incorporated became inactive during the third quarter 2004.


FirstEnergy converted its loan to PowerSpan Corp. to 6,773,620 shares of Series C Convertible Preferred Stock in November 2004. As a result, FirstEnergy’s ownership in PowerSpan Corp. increased from 18.63% to 25.41%.


D. W. Close Company, Inc. was sold on December 21, 2004.



18

ITEM 2.  ACQUISITIONS OR SALES OF UTILITY ASSETS

None




19


ITEM 3. ISSUE, SALE, PLEDGE, GUARANTEE OR ASSUMPTION OF SYSTEM SECURITIES

                               
                               
       
Principal Amount Of Stated Value
                 
 
Name of Issuer
 
Name of
Company
 
 
Issued and
 
Pledged, Guaranteed
     
 
Date of
     
 
Commission
 
and Title of Issue
 
Issuing
 
Sold
 
or Assumed
     
Transaction
 
Proceeds
 
Authorization
 
(1)
 
(2)
 
(3)
 
(4)
     
(5)
 
(6)
 
(7)
 
                               
FirstEnergy Corp.
   
FirstEnergy Corp.
       
$
22,525,700
 (a)
 
 
 
Various
   
N/A
   
Rule 45
 
Ohio Edison Company
   
Ohio Edison Company
       
$
1,106,000
 (a)
 
 
Various
   
N/A
   
Rule 45
 
The Cleveland Electric Illuminating Company
   
The Cleveland Electric Illuminating Company
       
$
1,007,101
 (a)  
Various
   
N/A
   
Rule 45
 
Pennsylvania Power Company
   
Pennsylvania Power Company
       
$
78,625
 (a)
 
 
 
Various
   
N/A
   
Rule 45
 
FirstEnergy Solutions Corp.
   
FirstEnergy Solutions Corp.
       
$
15,040,140
 (a)
 
 
 
Various
   
N/A
   
Rule 45
 
FirstEnergy Facilities Services Group, LLC
   
FirstEnergy Facilities Services Group, LLC
       
$
94,954,329
 (b)
 
 
 
Various
   
N/A
   
Rule 45
 
Jersey Central Power & Light Company
   
Jersey Central Power & Light Company
       
$
2,003,576
 (a)
 
 
 
Various
   
N/A
   
Rule 45
 
Metropolitan Edison Company
   
Metropolitan Edison Company
       
$
2,018,500
 (a)
 
 
 
Various
   
N/A
   
Rule 45
 
FirstEnergy Generation Corp.
   
FirstEnergy Generation Corp.
       
$
600,000
 (a)
 
 
 
Various
   
N/A
   
Rule 45
 
GPU Energy
   
GPU Energy
       
$
10,676,096
 (c)
 
 
 
Various
   
N/A
   
Rule 45
 
MYR Group, Inc.
   
MYR Group, Inc.
       
$
147,852,556
 (a)
 
 
 
Various
   
N/A
   
Rule 45
 
                                             
                                             
(a) Represents miscellaneous surety bonds for various purposes.
(b) Represents letter of credit ($8,687,476) for liability and workers' compensation insurance and miscellaneous surety bonds ($86,266,853),
(c) Represents letters of credit ($9,882,530) and surety bonds ($793,566) for workers' compensation insurance.


20

 
ITEM 4.  ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES:
 
 
Name of Issuer
 
Name of Company
           
and
 
Acquiring, Redeeming or
         
Authorization
Title of Issue
 
Retiring Securities
 
Consideration
 
Deposition
 
of Exemption
Ohio Edison Company
               
Secured Trust Notes
 
Ohio Edison
$
57,620,343
 
Redeemed/Retired
 
Rule 42
Pollution Control Notes
 
Ohio Edison
$
30,000,000
 
Acquired
 
Rule 42
                 
Pennsylvania Power Company
               
First Mortgage Bonds
 
Penn Power
$
63,743,150
 
Redeemed/Retired
 
Rule 42
Preferred Stock
 
Penn Power
$
750,000
 
Redeemed/Retired
 
Rule 42
                 
The Cleveland Electric
               
Illuminating Company
               
First Mortgage Bonds
 
CEI
$
280,000,000
 
Redeemed/Retired
 
Rule 42
Medium Term Notes
 
CEI
$
7,872,000
 
Redeemed/Retired
 
Rule 42
Pollution Control Notes
 
CEI
$
81,640,000
 
Acquired
 
Rule 42
Pollution Control Notes
 
CEI
$
30,000
 
Redeemed/Retired
 
Rule 42
Preferred Stock
 
CEI
$
1,000,000
 
Redeemed/Retired
 
Rule 42
                 
The Toledo Edison Company
               
First Mortgage Bonds
 
TE
$
70,000,000
 
Redeemed/Retired
 
Rule 42
Medium Term Notes
 
TE
$
160,553,500
 
Redeemed/Retired
 
Rule 42
Pollution Control Notes
 
TE
$
73,000,000
 
Acquired
 
Rule 42
                 
Bay Shore Power Company
               
Pollution Control Notes
 
Bay Shore
$
3,100,000
 
Redeemed/Retired
 
Rule 42
                 
Note: See pages 23 to 31 for a detailed description of the above transactions.

21


ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES (Continued):
 
 
Name of Issuer
 
Name of Company
           
and
 
Acquiring, Redeeming or
         
Authorization
Title of Issue
 
Retiring Securities
 
Consideration
 
Deposition
 
of Exemption
Jersey Central Power &
Light Company                       
               
First Mortgage Bonds
 
JCP&L
 
$
160,000,000
 
Redeemed/Retired
 
Rule 42
Senior Notes
 
JCP&L
 
$
300,000,000
 
Acquired
 
Rule 42
Medium Term Notes
 
JCP&L
 
$
132,932,000
 
Redeemed/Retired
 
Rule 42
Unsecured Notes
 
JCP&L
 
$
2,967,956
 
Redeemed/Retired
 
Rule 42
Pollution Control Notes
 
JCP&L
 
$
315,000
 
Redeemed/Retired
 
Rule 42
                   
JCP&L Transition Funding LLC
                 
Transition Bonds
 
JCP&L Transition Funding LLC
 
$
15,588,893
 
Redeemed/Retired
 
Rule 42
                   
Metropolitan Edison Company
                 
Medium Term Notes
 
Met-Ed
 
$
90,000,000
 
Redeemed/Retired
 
Rule 42
Senior Notes
 
Met-Ed
 
$
250,000,000
 
Acquired
 
Rule 42
Unsecured Notes
 
Met-Ed
 
$
5,935,912
 
Redeemed/Retired
 
Rule 42
Pollution Control Notes
 
Met-Ed
 
$
435,000
 
Redeemed/Retired
 
Rule 42
Trust Preferred Securities
 
Met-Ed
 
$
100,000,000
 
Redeemed/Retired
 
Rule 42
                   
Pennsylvania Electric Company
                 
Senior Notes
 
Penelec
 
$
125,000,000
 
Redeemed/Retired
 
Rule 42
Senior Notes
 
Penelec
 
$
150,000,000
 
Acquired
 
Rule 42
Unsecured Notes
 
Penelec
 
$
2,967,956
 
Redeemed/Retired
 
Rule 42
Trust Preferred Securities
 
Penelec
 
$
100,000,000
 
Redeemed/Retired
 
Rule 42
Pollution Control Notes
 
Penelec
 
$
205,000
 
Redeemed/Retired
 
Rule 42
                   
Note: See pages 23 to 31 for a detailed description of the above transactions.

22


ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES (Continued):
 
 
       
Principal
           
Name of Issuer
 
Name of Company
 
Amount or Stated Value
           
and
 
Acquiring, Redeeming or
     
Redeemed
 
Date of
     
Commission
Title of Issue
 
Retiring Securities
 
Acquired
 
and Retired
 
Transaction
 
Consideration
 
Authorization
(1)
 
(2)
 
(3)
 
(4)
 
(5)
 
(6)
 
(7)
                           
Ohio Edison
                         
Company
                         
                           
Secured Trust Notes:
                         
7.680% PEPCO
 
Ohio Edison
   
$
4,636,959
 
1/21/2004
 
$
4,636,959
 
Rule 42
7.680% PEPCO
 
Ohio Edison
   
$
4,666,284
 
2/21/2004
 
$
4,666,284
 
Rule 42
7.680% PEPCO
 
Ohio Edison
   
$
4,695,795
 
3/21/2004
 
$
4,695,795
 
Rule 42
7.680% PEPCO
 
Ohio Edison
   
$
4,725,492
 
4/21/2004
 
$
4,725,492
 
Rule 42
7.680% PEPCO
 
Ohio Edison
   
$
4,755,377
 
5/21/2004
 
$
4,755,377
 
Rule 42
7.680% PEPCO
 
Ohio Edison
   
$
4,785,450
 
6/21/2004
 
$
4,785,450
 
Rule 42
7.680% PEPCO
 
Ohio Edison
   
$
4,815,714
 
7/21/2004
 
$
4,815,714
 
Rule 42
7.680% PEPCO
 
Ohio Edison
   
$
4,846,170
 
8/21/2004
 
$
4,846,170
 
Rule 42
7.680% PEPCO
 
Ohio Edison
   
$
4,876,818
 
9/21/2004
 
$
4,876,818
 
Rule 42
7.680% PEPCO
 
Ohio Edison
   
$
4,907,659
 
10/21/2004
 
$
4,907,659
 
Rule 42
7.680% PEPCO
 
Ohio Edison
   
$
4,938,696
 
11/21/2004
 
$
4,938,696
 
Rule 42
7.680% PEPCO
 
Ohio Edison
   
$
4,969,929
 
12/21/2004
 
$
4,969,929
 
Rule 42
         
$
57,620,343
     
$
57,620,343
   
                           
Pollution Control Notes:
                         
3.350% Series 1999-B
 
Ohio Edison
$
30,000,000
     
1/2/2004
 
$
30,000,000
 
Rule 42


23



ITEM 4.  ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES (Continued):
 
 
       
 
           
 
 
Name of Company
 
 
           
 
Name of Issuer
 
Acquiring, Redeeming
 
Principal
Amount or Stated Value 
       
 
and
Title of Issue
 
or Retiring Securities
 
 
Acquired
 
Redeemed
and Retired
 
Date of
Transaction
 
 
Consideration
 
Commission
Authorization
(1)
 
(2)
 
(3)
 
(4)
 
(5)
 
(6)
 
(7)
                           
Pennsylvania
                         
Power Company
                         
                           
First Mortgage Bonds:
                       
6.625% Series
 
Penn Power
   
$
14,000,000
 
1/2/2004
 
$
14,000,000
 
Rule 42
6.375% Series
 
Penn Power
   
$
20,500,000
 
9/1/2004
 
$
20,500,000
 
Rule 42
8.500% Series
 
Penn Power
   
$
27,250,000
 
1/19/2004
 
$
28,269,150
 
Rule 42
9.740% Series
 
Penn Power
   
$
487,000
 
5/1/2004
 
$
487,000
 
Rule 42
9.740% Series
 
Penn Power
   
$
487,000
 
9/1/2004
 
$
487,000
 
Rule 42
         
$
62,724,000
     
$
63,743,150
   
                           
Preferred Stock
                         
7.625% Series
 
Penn Power
   
$
750,000
 
10/1/2004
 
$
750,000
 
Rule 42


24


ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES (Continued):
 
       
Principal
           
Name of Issuer
 
Name of Company
 
Amount or Stated Value
           
and
 
Acquiring, Redeeming or
     
Redeemed
 
Date of
     
Commission
Title of Issue
 
Retiring Securities
 
Acquired
 
and Retired
 
Transaction
 
Consideration
 
Authorization
(1)
 
(2)
 
(3)
 
(4)
 
(5)
 
(6)
 
(7)
                             
The Cleveland Electric
                           
Illuminating Company
                           
                             
First Mortgage Bonds:
                       
7.670% Series
 
CEI
     
$
280,000,000
 
7/1/2004
 
$
280,000,000
 
Rule 42
                             
                             
Medium Term Notes
                         
9.520% Series
 
CEI
     
$
7,500,000
 
1/19/2004
 
$
7,872,000
 
Rule 42
                             
                             
Pollution Control Notes:
                       
3.750% Series
 
CEI
$
12,085,000
       
1/2/2004
 
$
12,085,000
 
Rule 42
3.750% Series
 
CEI
$
23,255,000
       
1/2/2004
 
$
23,255,000
 
Rule 42
3.750% Series
 
CEI
$
46,300,000
       
1/2/2004
 
$
46,300,000
 
Rule 42
7.000% Series
 
CEI
     
$
15,000
 
9/1/2004
 
$
15,000
 
Rule 42
7.000% Series
 
CEI
     
$
15,000
 
9/1/2004
 
$
15,000
 
Rule 42
     
$
81,640,000
 
$
30,000
     
$
81,670,000
   
                             
Preferred Stock:
                           
7.350% Series
 
CEI
     
$
1,000,000
 
8/1/2004
 
$
1,000,000
 
Rule 42


25


ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES (Continued):
 
       
Principal
           
Name of Issuer
 
Name of Company
 
Amount or Stated Value
           
and
 
Acquiring, Redeeming or
     
Redeemed
 
Date of
     
Commission
Title of Issue
 
Retiring Securities
 
Acquired
 
and Retired
 
Transaction
 
Consideration
 
Authorization
(1)
 
(2)
 
(3)
 
(4)
 
(5)
 
(6)
 
(7)
                             
The Toledo Edison
                           
Company
                           
                             
First Mortgage Bonds
                           
7.670% Series
 
TE
     
$
70,000,000
 
7/1/2004
 
$
70,000,000
 
Rule 42
                             
                             
Medium Term Notes:
                           
7.875% Series
 
TE
     
$
145,000,000
 
8/1/2004
 
$
145,000,000
 
Rule 42
9.220% Series
 
TE
     
$
15,000,000
 
1/19/2004
 
$
15,553,500
 
Rule 42
           
$
160,000,000
     
$
160,553,500
   
                             
Pollution Control Notes:
                           
2.200% Series
 
TE
$
33,200,000
       
1/2/2004
 
$
33,200,000
 
Rule 42
2.200% Series
 
TE
$
34,100,000
       
1/2/2004
 
$
34,100,000
 
Rule 42
3.100% Series
 
TE
$
5,700,000
       
1/2/2004
 
$
5,700,000
 
Rule 42
     
$
73,000,000
           
$
73,000,000
   


26


ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES (Continued):
 
 
       
Principal
           
Name of Issuer
 
Name of Company
 
Amount or Stated Value
           
and
 
Acquiring, Redeeming or
     
Redeemed
 
Date of
     
Commission
Title of Issue
 
Retiring Securities
 
Acquired
 
and Retired
 
Transaction
 
Consideration
 
Authorization
(1)
 
(2)
 
(3)
 
(4)
 
(5)
 
(6)
 
(7)
                           
Bay Shore Power
                         
Company
                         
                           
Pollution Control Notes:
                         
5.880% Series
 
Bay Shore
   
$
1,900,000
 
9/1/2004
 
$
1,900,000
 
Rule 42
6.250% Series
 
Bay Shore
   
$
1,200,000
 
9/30/2004
 
$
1,200,000
 
Rule 42
         
$
3,100,000
     
$
3,100,000
   


27


ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES (Continued):
 
 
       
Principal
           
Name of Issuer
 
Name of Company
 
Amount or Stated Value
           
and
 
Acquiring, Redeeming or
     
Redeemed
 
Date of
     
Commission
Title of Issue
 
Retiring Securities
 
Acquired
 
and Retired
 
Transaction
 
Consideration
 
Authorization
(1)
 
(2)
 
(3)
 
(4)
 
(5)
 
(6)
 
(7)
                           
Jersey Central Power
                         
& Light Company
                         
                           
First Mortgage Bonds
                         
7.125% Series
 
JCP&L
   
$
160,000,000
 
5/27/2004
 
$
160,000,000
 
Rule 42
                           
                           
Senior Notes:
                         
5.625% Series
 
JCP&L
$
300,000,000
     
4/23/2004
 
$
300,000,000
 
Rule 42
                           
                           
Medium-Term Notes:
                         
6.780% Series
 
JCP&L
   
$
50,000,000
 
6/2/2004
 
$
50,000,000
 
Rule 42
7.980% Series
 
JCP&L
   
$
40,000,000
 
6/2/2004
 
$
41,436,000
 
Rule 42
8.320% Series
 
JCP&L
   
$
40,000,000
 
6/2/2004
 
$
41,496,000
 
Rule 42
         
$
130,000,000
     
$
132,932,000
   
                           
Unsecured Notes:
                         
7.690% Series (Cowanesque)
JCP&L
   
$
2,967,956
 
8/31/2004
 
$
2,967,956
 
Rule 42
                           
                           
Pollution Control Notes
                         
7.125% Series
 
JCP&L
   
$
315,000
 
1/2/2004
 
$
315,000
 
Rule 42


28
 

ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES (Continued):
 
 
       
Principal
               
Name of Issuer
 
Name of Company
 
Amount or Stated Value
               
and
 
Acquiring, Redeeming or
     
Redeemed
 
Date of
     
Commission
Title of Issue
 
Retiring Securities
 
Acquired
 
and Retired
 
Transaction
 
Consideration
 
Authorization
(1)
 
(2)
 
(3)
 
(4)
 
(5)
 
(6)
 
(7)
                           
JCP&L
                         
Transition Funding LLC
                         
                           
Transition Bonds:
                         
4.19% Series
 
JCP&L Transition Funding LLC
   
$
3,275,450
 
3/5/2004
 
$
3,275,450
 
Rule 42
4.19% Series
 
JCP&L Transition Funding LLC
   
$
3,477,091
 
6/5/2004
 
$
3,477,091
 
Rule 42
4.19% Series
 
JCP&L Transition Funding LLC
   
$
4,114,267
 
9/5/2004
 
$
4,114,267
 
Rule 42
4.19% Series
 
JCP&L Transition Funding LLC
   
$
4,722,085
 
12/5/2004
 
$
4,722,085
 
Rule 42
         
$
15,588,893
     
$
15,588,893
   
 

29


ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES (Continued):
 
 
       
Principal
           
Name of Issuer
 
Name of Company
 
Amount or Stated Value
           
and
 
Acquiring, Redeeming or
     
Redeemed
 
Date of
     
Commission
Title of Issue
 
Retiring Securities
 
Acquired
 
and Retired
 
Transaction
 
Consideration
 
Authorization
(1)
 
(2)
 
(3)
 
(4)
 
(5)
 
(6)
 
(7)
                           
Metropolitan
                         
Edison Company
                         
                           
Medium-Term Notes:
                         
6.340% Series
 
Met-Ed
   
$
40,000,000
 
8/27/2004
 
$
40,000,000
 
Rule 42
6.360% Series C
 
Met-Ed
   
$
17,000,000
 
3/19/2004
 
$
17,000,000
 
Rule 42
6.400% Series C
 
Met-Ed
   
$
33,000,000
 
3/19/2004
 
$
33,000,000
 
Rule 42
         
$
90,000,000
     
$
90,000,000
   
                           
Senior Notes:
                         
4.875% Series
 
Met-Ed
$
250,000,000
     
3/25/2004
 
$
250,000,000
 
Rule 42
                           
                           
Unsecured Notes:
                         
7.690% Series (Cowanesque)
  Met-Ed     
$
5,935,912
 
8/31/2004
 
$
5,935,912
 
Rule 42
                           
                           
Pollution Control Notes
                         
6.000% Series
 
Met-Ed
   
$
435,000
 
1/2/2004
 
$
435,000
 
Rule 42
                           
                           
Trust Preferred Securities
                         
7.350% Series
 
Met-Ed
   
$
100,000,000
 
6/1/2004
 
$
100,000,000
 
Rule 42


30


ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES (Continued):
                         
       
Principal
           
Name of Issuer
 
Name of Company
 
Amount or Stated Value
           
and
 
Acquiring, Redeeming or
     
Redeemed
 
Date of
     
Commission
Title of Issue
 
Retiring Securities
 
Acquired
 
And Retired
 
Transaction
 
Consideration
 
Authorization
(1)
 
(2)
 
(3)
 
(4)
 
(5)
 
(6)
 
(7)
                             
Pennsylvania
                           
Electric Company
                           
                             
Senior Notes:
                           
5.125% Series
 
Penelec
     
$
125,000,000
 
4/1/2004
 
$
125,000,000
 
Rule 42
5.750% Series
 
Penelec
$
150,000,000
       
3/31/2004
 
$
150,000,000
 
Rule 42
     
$
150,000,000
 
$
125,000,000
     
$
275,000,000
   
                             
Unsecured Notes:
                           
7.690% Series (Cowanesque)
 
Penelec
     
$
2,967,956
 
8/31/2004
 
$
2,967,956
 
Rule 42
                             
                             
Trust Preferred Securities
                           
7.340% Series
 
Penelec
     
$
100,000,000
 
9/1/2004
 
$
100,000,000
 
Rule 42
                             
                             
Pollution Control Notes
                           
6.125% Series
 
Penelec
     
$
205,000
 
12/1/2004
 
$
205,000
 
Rule 42




31


ITEM 5. INVESTMENTS IN SECURITIES OF NONSYSTEM COMPANIES AS OF DECEMBER 31, 2004


 
 
Name
 
 
Security
Owned  
 
 
 
Shares
 
 
 
% Ownership
 
 
 
Nature of Business
 
Owner’s Book
Value
(In thousands)
 
                       
APX
   
Series B-2 & Series C Preferred Stock
         
4.37
%
 
Operates Internet-based exchanges for the buying & selling of electricity, energy transmission and related products
 
$
4,682
 
                                 
Ballard Generation Systems, Inc.
   
Common Stock
   
1,465,463
   
1.25
%
 
Develop, manufacture and market fuel cells and related systems
   
674
 
                                 
Cleveland Development Partnership II
   
LP
         
1.47
%
 
Housing and urban development
   
569
 
                                 
Cleveland Civic Housing Fund
   
LLC
         
4.00
%
 
Housing and urban development
   
368
 
                                 
Enertech Capital Partners II, LP
   
Limited Partnership
         
2.10
%
 
A venture capital fund which invests in energy-related technology or service companies
   
882
 
                                 
6 Misc. de minimis investments
                           
42
 





32


ITEM 6. OFFICERS AND DIRECTORS
                         
PART I. AS OF DECEMBER 31, 2004
                         
                         
FE
     
FirstEnergy
 
ATSI
 
FELHC
 
FEFSG
 
FENOC
 
Properties
                           
Anthony J. Alexander
(A)
 
P,CEO,D
 
P,D
 
P,D
 
M
 
CEO,D
 
P,D
                           
Richard R. Grigg
(A)
 
EVP,COO
 
EVP,COO,D
 
D
 
M
 
D
 
D
                           
Dr. Carol A. Cartwright
(A)
 
D
                   
                           
William T. Cottle
(A)
 
D
             
D
   
                           
Paul T. Addison
(A)
 
D
                   
                           
Russell W. Maier
(A)
 
D
                   
                           
Ernest J. Novak, Jr.
(A)
 
D
                   
                           
Robert N. Pokelwaldt
(A)
 
D
                   
                           
Paul J. Powers
(A)
 
D
                   
                           
Catherine A. Rein
(A)
 
D
                   
                           
Robert C. Savage
(A)
 
D
                   
                           
George M. Smart
(A)
 
CH
                   
                           
Wesley M. Taylor
(A)
 
D
                   
                           
Jesse T. Williams, Sr.
(A)
 
D
                   
                           
Dr. Patricia K. Woolf
(A)
 
D
                   
                           
Joseph J. Hagan
(A)
                 
SVP
   

33


ITEM 6. OFFICERS AND DIRECTORS (Continued)
                         
PART I.  OF DECEMBER 31, 2004
                         
                         
FE
     
FirstEnergy
 
ATSI
 
FELHC
 
FEFSG
 
FENOC
 
Properties
                           
                           
Mark B. Bezilla
(A)
                 
VP
   
                           
Gary R. Leidich
(A)
                 
P,CNO,D
   
                           
Lew W. Myers
(A)
                 
COO
   
                           
Stanley F. Szwed
(A)
     
VP
             
VP
                           
Richard H. Marsh
(A)
 
SVP,CFO
 
D,SVP,CFO
 
D,SVP,CFO
 
M,SVP,CFO
 
SVP,CFO
 
D,SVP,CFO
                           
Leila L. Vespoli
(A)
 
SVP,GC
 
SVP,GC
 
SVP,GC
 
SVP,GC
 
SVP,GC
 
SVP,GC
                           
Harvey L. Wagner
(A)
 
VP,C,CAO
 
VP,C
     
VP
 
VP,C
 
VP,C
                           
David W. Whitehead
(A)
 
CS
 
CS
 
CS
 
CS
 
CS
 
VP,CS
                           
Edward J. Udovich
(A)
 
ACS
 
ACS
 
ACS
 
ACS
 
ACS
 
ACS
                           
Jacqueline S. Cooper
(A)
 
ACS
 
ACS
 
ACS
 
ACS
 
ACS
 
ACS
                           
Thomas C. Navin
(A)
 
T
 
T
 
T
 
T
 
T
 
T
                           
Randy Scilla
(A)
 
AT
 
AT
 
AT
 
AT
 
AT
 
AT
                           
Jeffrey R. Kalata
(A)
 
AC
 
AC
     
AC
 
AC
 
AC
                           
Paulette R. Chatman
(C)
 
AC
 
AC
     
AC
 
AC
 
AC
                           
Trent A. Smith
(B)
             
P
       
                           


34


ITEM 6. OFFICERS AND DIRECTORS (Continued)
                         
PART I. AS OF DECEMBER 31, 2004
                         
                           
                           
                         
FE
     
FirstEnergy
 
ATSI
 
FELHC
 
FEFSG
 
FENOC
 
Properties
                           
                           
Steven F. Lux
(A)
         
AVP
           
                           
L. W. Pearce
(L)
                 
VP
   
                           
Roger D. Ruch
(B)
             
C
       
                           
Richard L. Anderson
(A)
                 
VP
   
                           
Ralph L. Hansen
(A)
                 
IVP
   
                           
Arthur W. Yuan
(B)
             
VP,COO
       


35


ITEM 6. OFFICERS AND DIRECTORS (Continued)
                     
PART I. AS OF DECEMBER 31, 2004
                     
                       
                       
     
FirstEnergy
         
FirstEnergy
 
GPU
     
Transfer
 
FECO
 
FES
 
Ventures
 
Capital
                       
Anthony J. Alexander
(A)
 
D
 
P,CEO,D
 
D
 
D
 
P,D
                       
Richard R. Grigg
(A)
 
D
 
EVP,COO,D
     
EVP,COO,D
 
D
                       
Richard H. Marsh
(A)
 
D
 
SVP,CFO,D
 
SVP,CFO,D
 
SVP,CFO,D
 
SVP,CFO,D
                       
Leila L. Vespoli
(A)
     
SVP,GC
 
SVP,GC
 
SVP,GC
 
SVP,GC
                       
Harvey L. Wagner
(A)
     
VP,C
 
VP,C
 
VP,C
 
VP,C
                       
David W. Whitehead
(A)
 
P,CS
 
VP,CETO,CS
 
CS
 
CS
 
CS
                       
Jacqueline S. Cooper
(A)
 
ACS
 
ACS
 
ACS
 
ACS
 
ACS
                       
Edward J. Udovich
(A)
 
ACS
 
ACS
 
ACS
 
ACS
 
ACS
                       
Thomas C. Navin
(A)
 
T
 
T
 
T
 
T
 
T
                       
Randy Scilla
(A)
 
AT
 
AT
 
AT
 
AT
 
AT
                       
Jeffrey R. Kalata
(A)
     
AC
 
AC
 
AC
 
AC
                       
Paulette R. Chatman
(C)
     
AC
 
AC
 
AC
 
AC
                       
Kevin J. Keough
(A)
     
SVP
     
P
   
                       
Bradley S. Ewing
(A)
     
VP
           
                       
Douglas S. Elliott
(A)
     
SVP
           
                       


36


ITEM 6. OFFICERS AND DIRECTORS (Continued)
                     
PART I. AS OF DECEMBER 31, 2004
                     
                       
                       
     
FirstEnergy
         
FirstEnergy
 
GPU
     
Transfer
 
FECO
 
FES
 
Ventures
 
Capital
                       
Carole B. Snyder
(A)
     
SVP
           
                       
Mary Beth Carroll
(A)
     
VP
           
                       
Stanley F. Szwed
(A)
     
VP
           
                       
Lynn M. Cavalier
(A)
     
VP
           
                       
Mark T. Clark
(A)
     
SVP
           
                       
Kathryn W. Dindo
(A)
     
VP,CRO
           
                       
Michael J. Dowling
(A)
     
VP,CPO
           
                       
Terrance G. Howson
(C)
     
VP
           
                       
Ali Jamshidi
(A)
     
VP
           
                       
Charles E. Jones
(A)
     
SVP,D
           
                       
David C. Luff
(A)
     
VP
           
                       
Thomas M. Welsh
(A)
     
SVP
           
                       
Bradford F. Tobin
(A)
     
VP,CIO
           
                       
Alfred G. Roth
(B)
         
VP
       
                       
Donald R. Schneider
(A)
         
VP
       


37


ITEM 6. OFFICERS AND DIRECTORS (Continued)
                     
PART I. AS OF DECEMBER 31, 2004
                     
                       
                       
     
FirstEnergy
         
FirstEnergy
 
GPU
     
Transfer
 
FECO
 
FES
 
Ventures
 
Capital
                       
Trent A. Smith
(B)
         
VP
       
                       
Ralph J. DiNicola
(A)
     
VP
           
                       
Mark A. Julian
(A)
     
VP
           
                       
David M. Blank
(A)
     
VP
           
                       
Guy L. Pipitone
(A)
         
P,D
       
                       
Charles D. Lasky
(A)
         
VP
       
                       
Lisa S. Wilson
(A)
     
AC
           


38


ITEM 6. OFFICERS AND DIRECTORS (Continued)
                     
PART I. AS OF DECEMBER 31, 2004
                     
                       
                       
             
GPU
 
FE
   
     
GPUDH
 
GPUN
 
Power
 
Telecom
 
JCP&L
                       
Anthony J. Alexander
(A)
 
P,M
 
CEO,D
 
P,D
 
P,D
   
                       
Richard H. Grigg
(A)
 
M
 
D
 
D
 
D
   
                       
Stanley C. Van Ness
(C)
                 
D
                       
Gelorma E. Persson
(C)
                 
D
                       
Richard H. Marsh
(A)
 
M,SVP,CFO
 
SVP,CFO
 
SVP,CFO,D
 
SVP,CFO,D
 
SVP,CFO
                       
Leila L. Vespoli
(A)
 
SVP,GC
 
SVP,GC
 
SVP,GC
 
SVP,GC
 
SVP,GC,D
                       
Harvey L. Wagner
(A)
 
VP,C
 
VP,C
 
VP,C
 
VP,C
 
VP,C
                       
David W. Whitehead
(A)
 
CS
 
CS
 
CS
 
CS
 
CS
                       
Jacqueline S. Cooper
(A)
 
ACS
 
ACS
 
ACS
 
ACS
 
ACS
                       
Edward J. Udovich
(A)
 
ACS
 
ACS
 
ACS
 
ACS
 
ACS
                       
Thomas C. Navin
(A)
 
T
 
T
 
T
 
T
 
T
                       
Randy Scilla
(A)
 
AT
 
AT
 
AT
 
AT
 
AT
                       
Jeffrey R. Kalata
(A)
 
AC
 
AC
 
AC
 
AC
 
AC
                       
Paulette R. Chatman
(C)
 
AC
 
AC
 
AC
 
AC
 
AC
                       


39


ITEM 6. OFFICERS AND DIRECTORS (Continued)
                     
PART I. AS OF DECEMBER 31, 2004
                     
                       
                       
             
GPU
 
FE
   
     
GPUDH
 
GPUN
 
Power
 
Telecom
 
JCP&L
                       
                       
Kevin J. Keough
(A)
 
SVP
               
                       
Bradley S. Ewing
(A)
                 
D
                       
Mark A. Julian
(A)
                 
D
                       
Gary R. Leidich
(A)
     
P,CNO,D
           
                       
Stephen E. Morgan
(C)
                 
P,D
                       
Donald M. Lynch
(G)
                 
RP
                       
Steven E. Strah
(C)
                 
RP
                       
Charles E. Jones
(A)
                 
D


40


ITEM 6. OFFICERS AND DIRECTORS Continued)
 
PART I. AS OF DECEMBER 31, 2004
                             
                               
                               
                               
     
MARBEL
 
Met-Ed
 
MYR
 
OE
 
Penelec
 
CEI
 
TE
                               
Anthony J. Alexander
(A)
 
P,D
 
P,D
 
D
 
P,D
 
P,D
 
P,D
 
P,D
                               
Richard R. Grigg
(A)
 
D
 
EVP,COO,D
 
D
 
EVP,COO,D
 
EVP,COO,D
 
EVP,COO,D
 
EVP,COO,D
                               
Richard H. Marsh
(A)
 
SVP,CFO
 
SVP,CFO,D
 
D
 
SVP,CFO,D
 
SVP,CFO,D
 
SVP,CFO,D
 
SVP,CFO,D
                               
Leila L. Vespoli
(A)
 
SVP,GC
 
SVP,GC
     
SVP,GC
 
SVP,GC
 
SVP,GC
 
SVP,GC
                               
Harvey L. Wagner
(A)
 
VP,C
 
VP,C
     
VP,C
 
VP,C
 
VP,C
 
VP,C
                               
David W. Whitehead
(A)
 
CS
 
CS
 
AS
 
CS
 
CS
 
CS
 
CS
                               
Edward J. Udovich
(A)
 
ACS
 
ACS
 
AS
 
ACS
 
ACS
 
ACS
 
ACS
                               
Jacqueline S. Cooper
(A)
 
ACS
 
ACS
 
AS
 
ACS
 
ACS
 
ACS
 
ACS
                               
Thomas C. Navin
(A)
 
T
 
T
     
T
 
T
 
T
 
T
                               
Randy Scilla
(A)
 
AT
 
AT
     
AT
 
AT
 
AT
 
AT
                               
Jeffrey R. Kalata
(A)
 
AC
 
AC
     
AC
 
AC
 
AC
 
AC
                               
Paulette R. Chatman
(C)
 
AC
 
AC
     
AC
 
AC
 
AC
 
AC
                               
Ronald P. Lantzy
(K)
     
RP
                   


41


ITEM 6. OFFICERS AND DIRECTORS (Continued)
PART I. AS OF DECEMBER 31, 2004
                             
                               
                               
                               
     
MARBEL
 
Met-Ed
 
MYR
 
OE
 
Penelec
 
CEI
 
TE
                               
Stanley F. Szwed
(A)
             
VP
     
VP
 
VP
                               
Charles E. Jones
(A)
 
D
 
SVP
     
SVP
 
SVP
 
SVP
 
SVP
                               
William A. Koertner
(D)
         
P,CEO
               
                               
James M. Murray
(I)
                         
RP
                               
John A. Fluss
(D)
         
GVP
               
                               
William H. Green
(D)
         
SVP, COO
               
                               
Elaine K. Hughes
(D)
         
VP
               
                               
Robert E. McDaniel
(D)
         
VP
               
                               
Greg R. Medici
(D)
         
C,AT
               
                               
Brian L. Smolinski
(D)
         
VP
               
                               
James P. Urbas
(D)
         
VP
               


42


ITEM 6. OFFICERS AND DIRECTORS (Continued)
 
PART I. AS OF DECEMBER 31, 2004
                             
                               
                               
                               
     
MARBEL
 
Met-Ed
 
MYR
 
OE
 
Penelec
 
CEI
 
TE
                               
                               
Dennis M. Chack
(H)
                     
RP
   
                               
John E. Paganie
(J)
                 
RP
       
                               
Thomas A. Clark
(F)
             
RP
           
                               
Gerald B. Engen, Jr.
(D)
         
VP,CLO,S
               
                               
Michael D. Cooper
(D)
         
VP
               
                               
Marco A. Martinez
(D)
         
VP,CFO,T
               
                               
Richard S. Swartz, Jr.
(D)
         
VP
               
                               
Steven T. Theis
(D)
         
VP
               
                               



43


ITEM 6. OFFICERS AND DIRECTORS (continued)
PART I. AS OF DECEMBER 31, 2004
 
 


(A)  
Address is 76 South Main St., Akron, Ohio 44308

(B)  
Address is 395 Ghent Road, Akron, Ohio 44308

(C)  
Address is 300 Madison Ave., Morristown, New Jersey 07962

(D)  
Address is 1701 West Golf Road, Rolling Meadows, Illinois 60008

(E)  
Not used.

(F)  
Address is 1910 West Market Street, Akron, Ohio 44313

(G)  
Address is 331 Newman Springs Road Bldg. #3, Red Bank, NJ 07701

(H)  
Address is 6896 Miller Road, Brecksville, Ohio 44141

(I)  
Address is 300 Madison Ave., Toledo, Ohio 43652

(J)  
Address is 5404 Evans Road, Erie, PA 16509

(K)  
Address is 2800 Pottsville Pike, Reading, PA 19605

(L)  
Address is Route 168, Shippingport, PA 15077

44

ITEM 6.  OFFICERS AND DIRECTORS (continued)
PART I. AS OF DECEMBER 31, 2004

Key           Position Held 
 
AC
Assistant Controller
ACS
Assistant Corporate Secretary 
AS
Assistant Secretary 
AT
Assistant Treasurer 
AVP
Assistant Vice President 
C
Controller 
CAO
Chief Accounting Officer 
CEO
Chief Executive Officer 
CETO
Chief Ethics Officer 
CFO
Chief Financial Officer 
CH
Chairman 
CIO
Chief Information Officer 
CLO
Chief Legal Officer 
CNO
Chief Nuclear Officer 
COO
Chief Operating Officer 
CPO
Chief Procurement Officer 
CRO
Chief Risk Officer
CS
Corporate Secretary 
D
Director
EVP
Executive Vice President 
GC
General Counsel 
GVP
Group Vice President
IVP
Interim Vice President 
M
Manager 
P
President 
RP
Region President 
RVP
Region Vice President 
S
Secretary
SVP
Senior Vice President 
T
Treasurer 
VP
Vice President 

45

ITEM 6. OFFICERS AND DIRECTORS (continued)
PART II. AS OF DECEMBER 31, 2004

Name of Officer
 
Name and Location
 
Position Held
 
Applicable
Or Director
 
of Financial Institution
 
in Financial Institution
 
Exception Rule
             
             
Dr. Carol A. Cartwright
 
KeyCorp.
Cleveland, OH
 
Director
 
70
             
Catherine A. Rein
 
Bank of New York
New York, NY
 
Director
 
70
             
   
New England Financial, Inc.
Boston, MA
 
Director
 
70
             
Russell W. Maier
 
Unizan Financial Corp.
Canton, OH
 
Director
 
70
             
   
Unizan Bank, National Association
Canton, OH
 
Director
 
70
             
George M. Smart
 
Unizan Financial Corp.
Canton, OH
 
Director
 
70
             
   
Unizan Bank, National Association
Canton, OH
 
Director
 
70
             
Dr. Patricia K. Woolf (1)
 
The Capital Group
New York, NY
 
Director
 
70
             
   
National Life Holding Company of Vermont
Montpelier, VT
 
Director
 
70
             
Stanley C. Van Ness
 
The Prudential Insurance Company of America
Newark, NJ
 
Director
 
70


(1)  
Dr. Woolf is also Director of Growth Fund of America, Director of American Balance Fund, Director of Income Fund of America, Director of Small Cap World Fund, Trustee for Fundamental Investors and Trustee for New Economy Fund - The Capital Group.

PART III.

Information concerning the compensation and other related information for the Officers and Directors of FirstEnergy and its subsidiary companies is filed as Exhibit F-1 to this Form U5S.


46


ITEM 7. CONTRIBUTIONS AND PUBLIC RELATIONS

(1)  
Expenditures, disbursements, or payments during the year, in money, goods or services, directly or indirectly to or for the account of any political party, candidate for public office or holder of such office, or any committee or agent therefor (or any officer or employee acting as such).

None

(2)  
Expenditures, disbursements, or payments during the year, in money, goods or services, directly or indirectly to or for the account of any citizens’ group, taxpayers’ group, or public relations counsel (or any officer or employee acting as such).

None



47


ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS

Part I.

Excluding transactions included in the Annual Report on Form U-13-60 of a service company, FirstEnergy reports intercompany service, sales and construction contracts on:

1.  
 Form U-9C-3, Quarterly Report Pursuant to Rule 58.
2.  
 Affiliated transactions for the period of January 1, 2004 through December 31, 2004 is filed as Exhibit F-3 to this Form U5S. The amounts required under the caption "Total Amount Billed" are being filed pursuant to request for confidential treatment.

Part II.

The system companies had no contracts to purchase services or goods from any affiliate (other than a system company), or from a company in which any officer or director of the receiving company is a partner or owns 5% or more of any class of equity securities, except as reported in Item 6.

Part III.

The system companies do not employ any other person for the performance on a continuing basis of management, supervisory or financial advisory services.


48

ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES

EXEMPT WHOLESALE GENERATORS (EWG):


FirstEnergy Generation Corp. (GenCo)


Part I.

(a)
At December 31, 2004, FirstEnergy Solutions Corp. (FES) owned 100% of GenCo, an Ohio corporation that operates fossil plants and the Seneca pumped storage plant and sells all its output at wholesale prices to FES.

(b)
At December 31, 2004, FES had an investment of $156,232,000 in GenCo.

(c)
Ratio of debt to common equity - Not applicable

Accumulated earnings of GenCo - $155,491,000

(d)
See (a) above.


Part II.

An organizational chart showing the relationship of FES to GenCo is provided in Exhibit H-1.

Filed pursuant to request for confidential treatment, financial statements of GenCo as of and for the year ended December 31, 2004 are provided in Exhibit I-1.


49

ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES (Continued)

EXEMPT WHOLESALE GENERATORS (EWG) (Continued):


GPU Power, Inc.

Part I.

(a)
At December 31, 2004, FirstEnergy Corp. owned 100% of GPU Power, Inc., a Delaware corporation established to make investments in EWGs, own and/or operate eligible facilities, and to engage in project development activities for eligible facilities.

(b)
At December 31, 2004, FirstEnergy had an investment of $37,874,062 in GPU Power, Inc.

(c)
Ratio of debt to common equity - Not applicable

Accumulated losses of GPU Power, Inc. - $35,345,264

(d)
None


Part II.

An organizational chart showing the relationship of GPU Power, Inc. to other EWGs in which it has an interest is provided in Exhibit H-2.

Filed pursuant to request for confidential treatment, consolidating financial statements of GPU Power, Inc. as of and for the year ended December 31, 2004 are provided in Exhibit I-1.


50

ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES (Continued)

EXEMPT WHOLESALE GENERATORS (EWG) (Continued):

EI Canada Holding Limited, EI Brooklyn Power Limited, EI Brooklyn Investments Limited and EI Services Canada Limited

Part I.

(a)
At December 31, 2004, GPU Power, Inc. (GPU Power), through its wholly-owned subsidiary EI Canada Holding Limited, owned 100% of EI Services Canada Limited and EI Brooklyn Power Ltd. EI Brooklyn Power Ltd. owns 100% of EI Brooklyn Investments Ltd.

(b)
At December 31, 2004, GPU Power had an investment of $(152,436) in EI Canada Holding Limited and subsidiaries.

(c)
Ratio of debt to common equity of EI Canada Holding Limited and subsidiaries - Not applicable

Accumulated losses of EI Canada Holding Limited and subsidiaries - $10,510,794

(d)
None


Part II.

An organizational chart showing the relationship of GPU Power, Inc. to EI Canada Holding Limited and subsidiaries is provided in Exhibit H-2.

Filed pursuant to request for confidential treatment, financial statements of EI Canada Holding Limited and subsidiaries as of and for the year ended December 31, 2004 are provided in Exhibit I-1 as part of GPU Power, Inc.’s consolidating financial statements. 

51

ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES (Continued)

Part III.

FirstEnergy’s aggregate investment in EWG's at December 31, 2004 was $1,009,196,000*:

FirstEnergy’s aggregate capital investment in domestic public utility subsidiary companies at December 31, 2004 was approximately $11,223,913,000.

Ratio of FirstEnergy’s aggregate investment of EWG's to FirstEnergy's aggregate investment in domestic public utility subsidiary companies at December 31, 2004 - 0.09:1

*
Pursuant to Rule 53(a)(1)(i) under the Public Utility Holding Company Act of 1935, aggregate investment as stated herein Part III includes all amounts invested, or committed to be invested, in foreign utility companies (FUCO) and exempt wholesale generators (EWG), for which there is recourse, directly or indirectly, to the registered holding company.

52

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS
 


   Consolidating Financial Statements, Schedules and Notes Page 
     
-
Consent of Independent Public Accountants.
54
     
-
Consolidating Financial Statements of FirstEnergy Corp.
55-89
 
for 2004.
 
     
-
Notes 1 through 16 to Consolidated Financial
 
 
Statements incorporated herein by reference, in Exhibit
 
 
A (page 90), in the FirstEnergy Corp. Annual Report on
 
 
Form 10-K for 2004.
 
     
-
Notes 1 through 14 to Consolidated Financial
 
 
Statements incorporated herein by reference, in Exhibit
 
 
A (page 90), in the Ohio Edison Company Annual Report on
 
 
Form 10-K for 2004.
 
     
-
Notes 1 through 14 to Consolidated Financial
 
 
Statements incorporated herein by reference, in Exhibit
 
 
A (page 90), in the The Cleveland Electric Illuminating
 
 
Company Annual Report on Form 10-K for 2004.
 
     
-
Notes 1 through 14 to Consolidated Financial
 
 
Statements incorporated herein by reference, in Exhibit
 
 
A (page 90), in the The Toledo Edison Company Annual
 
 
Report on Form 10-K for 2004.
 
     
-
Notes 1 through 12 to Consolidated Financial
 
 
Statements incorporated herein by reference, in Exhibit
 
 
A (page 90), in the Pennsylvania Power Company Annual
 
 
Report on Form 10-K for 2004.
 
     
-
Notes 1 through 13 to Consolidated Financial
 
 
Statements incorporated herein by reference, in Exhibit
 
 
A (page 90), in the Jersey Central Power & Light Company
 
 
Annual Report on Form 10-K for 2004.
 
     
-
Notes 1 through 13 to Consolidated Financial
 
 
Statements incorporated herein by reference, in Exhibit
 
 
A (page 90), in the Metropolitan Edison Company
 
 
Annual Report on Form 10-K for 2004.
 
     
-
Notes 1 through 14 to Consolidated Financial
 
 
Statements incorporated herein by reference, in Exhibit
 
 
A (page 90), in the Pennsylvania Electric Company
 
 
Annual Report on Form 10-K for 2004.
 
     
-
Exhibits
90-133


53




CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



We hereby consent to the incorporation by reference in this Annual Report on Form U5S of FirstEnergy Corp. for the year ended December 31, 2004, filed pursuant to the Public Utility Holding Company act of 1935 of our reports dated March 7, 2005 relating to the financial statements, management’s assessment of the effectiveness of internal control over financial reporting and the effectiveness of internal control over financial reporting, which appear in the 2004 Annual Reports to Stockholders of FirstEnergy Corp., Ohio Edison Company, Pennsylvania Power Company, The Cleveland Electric Illuminating Company, The Toledo Edison Company, Jersey Central Power & Light Company, Metropolitan Edison Company and Pennsylvania Electric Company which are incorporated by reference in the respective Annual Reports on Form 10-K for the year ended December 31, 2004 of FirstEnergy Corp., Ohio Edison Company, Pennsylvania Power Company, The Cleveland Electric Illuminating Company, The Toledo Edison Company, Jersey Central Power & Light Company, Metropolitan Edison Company and Pennsylvania Electric Company. We also consent to the incorporation by reference of our reports dated March 7, 2005 relating to the financial statement schedules, which appear in such Annual Reports on Form 10-K.



Pricewaterhouse Coopers LLP
Cleveland, Ohio
April 27, 2005








54


               
1 of 7
 
FIRSTENERGY CORP. CONSOLIDATING INCOME STATEMENT
For the Year Ended December 31, 2004
 
(In thousands $)
                   
   
FirstEnergy
 
Ohio
 
Cleveland
 
Toledo
 
   
Holding
 
Edison
 
Electric
 
Edison
 
   
Company
 
Consolidated
 
Consolidated
 
Consolidated
 
                   
REVENUES
 
$
35,097
 
$
3,059,290
 
$
1,893,974
 
$
1,057,033
 
                           
EXPENSES:
                         
Fuel and purchased power
   
-
   
1,027,230
   
622,021
   
363,759
 
Other operating expenses
   
100,051
   
730,310
   
404,807
   
327,433
 
Provision for depreciation
   
-
   
122,625
   
132,880
   
58,161
 
Amortization of regulatory assets
   
-
   
411,326
   
196,501
   
123,858
 
Deferral of new regulatory assets
   
-
   
(100,633
)
 
(117,466
)
 
(38,696
)
Goodwill impairment
   
-
   
-
   
-
   
-
 
General taxes
   
168
   
180,523
   
146,276
   
54,142
 
Total expenses
   
100,219
   
2,371,381
   
1,385,019
   
888,657
 
                           
EQUITY IN SUBSIDIARY EARNINGS
   
1,084,597
   
-
   
-
   
-
 
                           
INCOME BEFORE INTEREST AND INCOME TAXES
   
1,019,475
   
687,909
   
508,955
   
168,376
 
                           
NET INTEREST CHARGES:
                         
Interest expense
   
286,113
   
71,491
   
138,678
   
33,439
 
Capitalized interest
   
-
   
(7,211
)
 
(5,110
)
 
(3,696
)
Subsidiaries' preferred stock dividends
   
-
   
2,560
   
-
   
-
 
Net interest charges
   
286,113
   
66,840
   
133,568
   
29,743
 
                           
INCOME TAXES
   
(144,813
)
 
278,303
   
138,856
   
52,350
 
                           
INCOME BEFORE DISCONTINUED OPERATIONS
   
878,175
   
342,766
   
236,531
   
86,283
 
                           
DISCONTINUED OPERATIONS
   
-
   
-
   
-
   
-
 
                           
NET INCOME
   
878,175
   
342,766
   
236,531
   
86,283
 
                           
PREFERRED STOCK DIVIDEND REQUIREMENTS
   
-
   
2,502
   
7,008
   
8,844
 
                           
EARNINGS ON COMMON STOCK
 
$
878,175
 
$
340,264
 
$
229,523
 
$
77,439
 
                           
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.


55


               
2 of 7
 
FIRSTENERGY CORP. CONSOLIDATING INCOME STATEMENT
For the Year Ended December 31, 2004
(In thousands $)
       
Jersey
         
   
American
 
Central
 
Metropolitan
 
Pennsylvania
 
   
Transmission
 
Power & Light
 
Edison
 
Electric
 
   
Systems, Inc.
 
Consolidated
 
Consolidated
 
Consolidated
 
                   
REVENUES
 
$
201,019
 
$
2,221,357
 
$
1,113,072
 
$
1,041,270
 
                           
EXPENSES:
                         
Fuel and purchased power
   
-
   
1,172,416
   
554,988
   
570,369
 
Other operating expenses
   
61,418
   
345,550
   
190,840
   
199,255
 
Provision for depreciation
   
30,370
   
75,258
   
41,161
   
47,116
 
Amortization of regulatory assets
   
-
   
278,559
   
105,675
   
50,403
 
Deferral of new regulatory assets
   
-
   
-
   
-
   
-
 
Goodwill impairment
   
-
   
-
   
-
   
-
 
General taxes
   
32,064
   
62,792
   
70,457
   
68,132
 
Total expenses
   
123,852
   
1,934,575
   
963,121
   
935,275
 
                           
EQUITY IN SUBSIDIARY EARNINGS
   
-
   
-
   
-
   
-
 
                           
INCOME BEFORE INTEREST AND INCOME TAXES
   
77,167
   
286,782
   
149,951
   
105,995
 
                           
NET INTEREST CHARGES:
                         
Interest expense
   
25,878
   
80,646
   
45,057
   
40,212
 
Capitalized interest
   
(2,013
)
 
(615
)
 
(278
)
 
(248
)
Subsidiaries' preferred stock dividends
   
-
   
-
   
-
   
-
 
Net interest charges
   
23,865
   
80,031
   
44,779
   
39,964
 
                           
INCOME TAXES
   
20,743
   
95,112
   
38,217
   
30,001
 
                           
INCOME BEFORE DISCONTINUED OPERATIONS
   
32,559
   
111,639
   
66,955
   
36,030
 
                           
DISCONTINUED OPERATIONS
   
-
   
-
   
-
   
-
 
                           
NET INCOME
   
32,559
   
111,639
   
66,955
   
36,030
 
                           
PREFERRED STOCK DIVIDEND REQUIREMENTS
   
-
   
500
   
-
   
-
 
                           
EARNINGS ON COMMON STOCK
 
$
32,559
 
$
111,139
 
$
66,955
 
$
36,030
 
                           
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
                           

56


               
3 of 7
 
FIRSTENERGY CORP. CONSOLIDATING INCOME STATEMENT
 
For the Year Ended December 31, 2004
(In thousands $)
                   
   
FirstEnergy
         
MARBEL
 
   
Facilities
 
FirstEnergy
 
FirstEnergy
 
Energy
 
   
Services
 
Solutions
 
Nuclear
 
Corporation
 
   
Consolidated
 
Consolidated
 
Operating Co.
 
Consolidated
 
                   
REVENUES
 
$
397,681
 
$
5,219,693
 
$
538,585
 
$
22,198
 
                           
EXPENSES:
                         
Fuel and purchased power
   
-
   
3,949,176
   
50
   
-
 
Other operating expenses
   
401,389
   
789,372
   
525,471
   
499
 
Provision for depreciation
   
4,645
   
28,906
   
-
   
1,136
 
Amortization of regulatory assets
   
-
   
-
   
-
   
-
 
Deferral of new regulatory assets
   
-
   
-
   
-
   
-
 
Goodwill impairment
   
36,471
   
-
   
-
   
-
 
General taxes
   
8
   
27,559
   
16,847
   
9
 
Total expenses
   
442,513
   
4,795,013
   
542,368
   
1,644
 
                           
EQUITY IN SUBSIDIARY EARNINGS
   
-
   
-
   
-
   
-
 
                           
INCOME BEFORE INTEREST AND INCOME TAXES
   
(44,832
)
 
424,680
   
(3,783
)
 
20,554
 
                           
NET INTEREST CHARGES:
                         
Interest expense
   
791
   
35,046
   
1,946
   
8
 
Capitalized interest
   
-
   
(5,705
)
 
-
   
-
 
Subsidiaries' preferred stock dividends
   
-
   
-
   
-
   
-
 
Net interest charges
   
791
   
29,341
   
1,946
   
8
 
                           
INCOME TAXES
   
(9,632
)
 
167,661
   
(5,729
)
 
52,206
 
                           
INCOME BEFORE DISCONTINUED OPERATIONS
   
(35,991
)
 
227,678
   
-
   
(31,660
)
                           
DISCONTINUED OPERATIONS
   
-
   
4,396
   
-
   
-
 
                           
NET INCOME
   
(35,991
)
 
232,074
   
-
   
(31,660
)
                           
PREFERRED STOCK DIVIDEND REQUIREMENTS
   
-
   
-
   
-
   
-
 
                           
EARNINGS ON COMMON STOCK
 
$
(35,991
)
$
232,074
 
$
-
 
$
(31,660
)
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.


57


               
4 of 7
 
FIRSTENERGY CORP. CONSOLIDATING INCOME STATEMENT
For the Year Ended December 31, 2004
(In thousands $)
                   
   
FirstEnergy
 
MYR
 
GPU
 
GPU
 
   
Ventures
 
Group Inc.
 
Capital, Inc.
 
Power, Inc.
 
   
Consolidated
 
Consolidated
 
Consolidated
 
Consolidated
 
                   
REVENUES
 
$
37,401
 
$
347,416
 
$
685
 
$
2,760
 
                           
EXPENSES:
                         
Fuel and purchased power
   
4,605
   
-
   
-
   
-
 
Other operating expenses
   
14,199
   
353,430
   
558
   
362
 
Provision for depreciation
   
10,235
   
1,075
   
(814
)
 
-
 
Amortization of regulatory assets
   
-
   
-
   
-
   
-
 
Deferral of new regulatory assets
   
-
   
-
   
-
   
-
 
Goodwill impairment
   
-
   
-
   
-
   
-
 
General taxes
   
248
   
-
   
-
   
-
 
Total expenses
   
29,287
   
354,505
   
(256
)
 
362
 
                           
EQUITY IN SUBSIDIARY EARNINGS
   
-
   
-
   
-
   
-
 
                           
INCOME BEFORE INTEREST AND INCOME TAXES
   
8,114
   
(7,089
)
 
941
   
2,398
 
                           
NET INTEREST CHARGES:
                         
Interest expense
   
8,960
   
23
   
653
   
-
 
Capitalized interest
   
-
   
-
   
-
   
-
 
Subsidiaries' preferred stock dividends
   
-
   
-
   
-
   
-
 
Net interest charges
   
8,960
   
23
   
653
   
-
 
                           
INCOME TAXES
   
49
   
(3,204
)
 
(16,423
)
 
(15,280
)
                           
INCOME BEFORE DISCONTINUED OPERATIONS
   
(895
)
 
(3,908
)
 
16,711
   
17,678
 
                           
DISCONTINUED OPERATIONS
   
-
   
-
   
-
   
-
 
                           
NET INCOME
   
(895
)
 
(3,908
)
 
16,711
   
17,678
 
                           
PREFERRED STOCK DIVIDEND REQUIREMENTS
   
-
   
-
   
-
   
-
 
                           
   
$
(895
)
$
(3,908
 )
$
16,711
 
$
17,678
 
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
                           


58


               
5 of 7
 
FIRSTENERGY CORP. CONSOLIDATING INCOME STATEMENT
 
For the Year Ended December 31, 2004
 
(In thousands $)
 
           
GPU
     
           
Diversified
 
FirstEnergy
 
   
FirstEnergy
 
License
 
Holdings LLC
 
Telecom
 
   
Properties, Inc.
 
Holding Co.
 
Consolidated
 
Services, Inc.
 
                   
REVENUES
 
$
1,701
 
$
1
 
$
(1,816
)
$
16,587
 
                           
EXPENSES:
                         
Fuel and purchased power
   
-
   
-
   
-
   
-
 
Other operating expenses
   
(578
)
 
6
   
7,562
   
11,571
 
Provision for depreciation
   
263
   
-
   
-
   
1,900
 
Amortization of regulatory assets
   
-
   
-
   
-
   
-
 
Deferral of new regulatory assets
   
-
   
-
   
-
   
-
 
Goodwill impairment
   
-
   
-
   
-
   
-
 
General taxes
   
292
   
-
   
-
   
649
 
Total expenses
   
(23
)
 
6
   
7,562
   
14,120
 
                           
EQUITY IN SUBSIDIARY EARNINGS
   
-
   
-
   
-
   
-
 
                           
INCOME BEFORE INTEREST AND INCOME TAXES
   
1,724
   
(5
)
 
(9,378
)
 
2,467
 
                           
NET INTEREST CHARGES:
                         
Interest expense
   
767
   
-
   
-
   
495
 
Capitalized interest
   
-
   
-
   
-
   
18
 
Subsidiaries' preferred stock dividends
   
-
   
-
   
-
   
-
 
Net interest charges
   
767
   
-
   
-
   
513
 
                           
INCOME TAXES
   
454
   
(2
)
 
(2,815
)
 
915
 
                           
INCOME BEFORE DISCONTINUED OPERATIONS
   
503
   
(3
)
 
(6,563
)
 
1,039
 
                           
DISCONTINUED OPERATIONS
   
-
   
-
   
-
   
-
 
                           
NET INCOME
   
503
   
(3
)
 
(6,563
)
 
1,039
 
                           
PREFERRED STOCK DIVIDEND REQUIREMENTS
   
-
   
-
   
-
   
-
 
                           
EARNINGS ON COMMON STOCK
 
$
503
 
$
(3
)
$
(6,563
)
$
1,039
 
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
                           


59


               
6 of 7
 
FIRSTENERGY CORP. CONSOLIDATING INCOME STATEMENT
For the Year Ended December 31, 2004
(In thousands $)
                   
   
FirstEnergy
     
First
     
   
Service
 
GPU
 
Communications
     
   
Co.
 
Nuclear, Inc.
 
(B)
 
Eliminations
 
                   
REVENUES
 
$
537,107
 
$
5,743
 
$
39,992
 
$
(5,334,801
)
                           
EXPENSES:
                         
Fuel and purchased power
   
-
   
-
   
-
   
(3,795,130
)
Other operating expenses
   
486,400
   
5,973
   
36,992
   
(1,434,195
)
Provision for depreciation
   
34,736
   
-
   
-
   
(1
)
Amortization of regulatory assets
   
-
   
-
   
-
   
1
 
Deferral of new regulatory assets
   
-
   
-
   
-
   
-
 
Goodwill impairment
   
-
   
-
   
-
   
-
 
General taxes
   
17,538
   
-
   
53
   
-
 
Total expenses
   
538,674
   
5,973
   
37,045
   
(5,229,325
)
                           
EQUITY IN SUBSIDIARY EARNINGS
   
-
   
-
   
-
   
(1,084,597
)
                           
INCOME BEFORE INTEREST AND INCOME TAXES
   
(1,567
)
 
(230
)
 
2,947
   
(1,190,073
)
                           
NET INTEREST CHARGES:
                         
Interest expense
   
4,961
   
12
   
327
   
(104,558
)
Capitalized interest
   
(723
)
 
-
   
-
   
-
 
Subsidiaries' preferred stock dividends
   
-
   
-
   
-
   
18,853
 
Net interest charges
   
4,238
   
12
   
327
   
(85,705
)
                           
INCOME TAXES
   
(5,805
)
 
(242
)
 
-
   
-
 
                           
INCOME BEFORE DISCONTINUED OPERATIONS
   
-
   
-
   
2,620
   
(1,104,368
)
                           
DISCONTINUED OPERATIONS
   
-
   
-
   
-
   
-
 
                           
NET INCOME
   
-
   
-
   
2,620
   
(1,104,368
)
                           
PREFERRED STOCK DIVIDEND REQUIREMENTS
   
-
   
-
   
-
   
(18,854
)
                           
EARNINGS ON COMMON STOCK
 
$
-
 
$
-
 
$
2,620
 
$
(1,085,514
)
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
(B) Includes elimination of 35% non-affiliated interest in First Communications LLC.



60


       7 of 7
FIRSTENERGY CORP. CONSOLIDATING INCOME STATEMENT
For the Year Ended December 31, 2004
(In thousands $)
           
   
FirstEnergy
     
   
Corp.
     
   
Consolidated
     
           
REVENUES
 
$
12,453,045
       
               
EXPENSES:
             
Fuel and purchased power
   
4,469,484
       
Other operating expenses
   
3,558,675
       
Provision for depreciation
   
589,652
       
Amortization of regulatory assets
   
1,166,323
       
Deferral of new regulatory assets
   
(256,795
)
     
Goodwill impairment
   
36,471
       
General taxes
   
677,757
       
Total expenses
   
10,241,567
       
               
EQUITY IN SUBSIDIARY EARNINGS
   
-
       
               
INCOME BEFORE INTEREST AND INCOME TAXES
   
2,211,478
       
               
NET INTEREST CHARGES:
             
Interest expense
   
670,945
       
Capitalized interest
   
(25,581
)
     
Subsidiaries' preferred stock dividends
   
21,413
       
Net interest charges
   
666,777
       
               
INCOME TAXES
   
670,922
       
               
INCOME BEFORE DISCONTINUED OPERATIONS
   
873,779
       
               
DISCONTINUED OPERATIONS
   
4,396
       
               
NET INCOME
   
878,175
       
               
PREFERRED STOCK DIVIDEND REQUIREMENTS
   
-
       
               
EARNINGS ON COMMON STOCK
 
$
878,175
       
               
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.





61


               
1 of 14
 
FIRSTENERGY CORP. CONSOLIDATING BALANCE SHEET
As of December 31, 2004
(In thousands $)
                   
   
FirstEnergy
 
Ohio
 
Cleveland
 
Toledo
 
   
Holding
 
Edison
 
Electric
 
Edison
 
ASSETS
 
Company
 
Consolidated
 
Consolidated
 
Consolidated
 
                   
CURRENT ASSETS:
                 
Cash and cash equivalents
 
$
100
 
$
1,230
 
$
197
 
$
15
 
Receivables-
                         
Customers
   
-
   
274,304
   
11,537
   
4,858
 
Associated companies
   
44,642
   
245,148
   
33,414
   
36,570
 
Other
   
12,873
   
18,385
   
152,785
   
3,842
 
Notes receivable from associated companies
   
922,031
   
538,871
   
521
   
135,683
 
Material and supplies-
                         
Owned
   
-
   
90,072
   
58,922
   
40,280
 
Under consignment
   
-
   
-
   
-
   
-
 
Prepayments and other
   
25,278
   
13,104
   
2,136
   
1,150
 
     
1,004,924
   
1,181,114
   
259,512
   
222,398
 
                           
PROPERTY, PLANT AND EQUIPMENT:
                         
In service
   
-
   
5,440,374
   
4,418,313
   
1,856,478
 
Less--Accumulated provision for depreciation
   
-
   
(2,716,851
)
 
(1,961,737
)
 
(778,864
)
     
-
   
2,723,523
   
2,456,576
   
1,077,614
 
Construction work in progress
   
-
   
224,861
   
116,085
   
74,533
 
     
-
   
2,948,384
   
2,572,661
   
1,152,147
 
                           
INVESTMENTS:
                         
Nuclear plant decommissioning trusts
   
-
   
436,134
   
383,875
   
297,803
 
Investment in lease obligation bonds
   
-
   
354,707
   
596,645
   
-
 
Non utility generation trusts
   
-
   
-
   
-
   
-
 
Nuclear fuel disposal trust
   
-
   
-
   
-
   
-
 
Long-term notes receivable from associated companies
   
55,596
   
208,170
   
97,489
   
39,975
 
Other
   
12,230,771
   
48,579
   
17,001
   
192,723
 
     
12,286,367
   
1,047,590
   
1,095,010
   
530,501
 
                           
DEFERRED CHARGES:
                         
Regulatory assets
   
-
   
1,115,627
   
958,986
   
374,814
 
Goodwill
   
-
   
-
   
1,693,629
   
504,522
 
Accumulated Deferred Income Taxes Assets
   
67,355
   
-
   
-
   
-
 
Property taxes
   
-
   
61,419
   
77,792
   
24,100
 
Unamortized sale and leaseback costs
   
-
   
60,242
   
5,461
   
12,759
 
Other
   
47,480
   
68,275
   
27,414
   
12,665
 
     
114,835
   
1,305,563
   
2,763,282
   
928,860
 
                           
TOTAL ASSETS
 
$
13,406,126
 
$
6,482,651
 
$
6,690,465
 
$
2,833,906
 
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.




62


               
2 of 14
 
FIRSTENERGY CORP. CONSOLIDATING BALANCE SHEET
 
As of December 31, 2004
 
(In thousands $)
 
                   
       
Jersey
         
   
American
 
Central
 
Metropolitan
 
Pennsylvania
 
   
Transmission
 
Power & Light
 
Edison
 
Electric
 
ASSETS
 
Systems, Inc.
 
Consolidated
 
Consolidated
 
Consolidated
 
                   
CURRENT ASSETS:
                         
Cash and cash equivalents
 
$
-
 
$
162
 
$
120
 
$
36
 
Receivables-
                         
Customers
   
18,321
   
201,415
   
119,858
   
121,112
 
Associated companies
   
4,230
   
86,531
   
118,245
   
97,528
 
Other
   
1,719
   
39,898
   
15,493
   
12,778
 
Notes receivable from associated companies
   
97,965
   
-
   
18,769
   
7,352
 
Material and supplies-
                         
Owned
   
-
   
2,435
   
98
   
-
 
Under consignment
   
-
   
-
   
-
   
-
 
Prepayments and other
   
606
   
31,489
   
10,959
   
7,198
 
     
122,841
   
361,930
   
283,542
   
246,004
 
                           
PROPERTY, PLANT AND EQUIPMENT:
                         
In service
   
1,273,660
   
3,730,767
   
1,800,569
   
1,981,846
 
Less--Accumulated provision for depreciation
   
(701,241
)
 
(1,380,775
)
 
(709,895
)
 
(776,904
)
     
572,419
   
2,349,992
   
1,090,674
   
1,204,942
 
Construction work in progress
   
45,399
   
75,012
   
21,735
   
22,816
 
     
617,818
   
2,425,004
   
1,112,409
   
1,227,758
 
                           
INVESTMENTS:
                         
Nuclear plant decommissioning trusts
   
-
   
138,205
   
216,951
   
109,620
 
Investment in lease obligation bonds
   
-
   
-
   
-
   
-
 
Non utility generation trusts
   
-
   
-
   
-
   
95,991
 
Nuclear fuel disposal trust
   
-
   
159,696
   
-
   
-
 
Long-term notes receivable from associated companies
   
-
   
20,436
   
10,453
   
14,001
 
Other
   
2
   
19,379
   
34,767
   
18,746
 
     
2
   
337,716
   
262,171
   
238,358
 
                           
DEFERRED CHARGES:
                         
Regulatory assets
   
12,833
   
2,176,520
   
693,133
   
200,173
 
Goodwill
   
-
   
1,985,036
   
869,585
   
888,011
 
Accumulated Deferred Income Taxes Assets
   
-
   
-
   
-
   
-
 
Property taxes
   
30,773
   
-
   
-
   
-
 
Unamortized sale and leaseback costs
   
-
   
-
   
-
   
-
 
Other
   
593
   
4,978
   
24,438
   
13,448
 
     
44,199
   
4,166,534
   
1,587,156
   
1,101,632
 
                           
TOTAL ASSETS
 
$
784,860
 
$
7,291,184
 
$
3,245,278
 
$
2,813,752
 
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.



63


           
3 of 14
 
FIRSTENERGY CORP. CONSOLIDATING BALANCE SHEET
 
As of December 31, 2004
 
(In thousands $)
 
                   
   
FirstEnergy
         
MARBEL
 
   
Facilities
 
FirstEnergy
 
FirstEnergy
 
Energy
 
   
Services
 
Solutions
 
Nuclear
 
Corporation
 
ASSETS
 
Consolidated
 
Consolidated
 
Operating Co.
 
Consolidated
 
                   
CURRENT ASSETS:
                         
Cash and cash equivalents
 
$
8,410
 
$
9,508
 
$
3
 
$
-
 
Receivables-
                         
Customers
   
-
   
166,088
   
-
   
-
 
Associated companies
   
418
   
201,942
   
181,292
   
225
 
Other
   
95,032
   
5,551
   
2,364
   
-
 
Notes receivable from associated companies
   
-
   
-
   
-
   
133,538
 
Material and supplies-
                         
Owned
   
6,957
   
100,400
   
-
   
-
 
Under consignment
   
-
   
81,075
   
-
   
-
 
Prepayments and other
   
3,402
   
11,518
   
2,081
   
-
 
     
114,219
   
576,082
   
185,740
   
133,763
 
                           
PROPERTY, PLANT AND EQUIPMENT:
                         
In service
   
429
   
965,277
   
-
   
-
 
Less--Accumulated provision for depreciation
   
(268
)
 
(79,589
)
 
-
   
-
 
     
161
   
885,688
   
-
   
-
 
Construction work in progress
   
1
   
89,159
   
673
   
-
 
     
162
   
974,847
   
673
   
-
 
                           
INVESTMENTS:
                         
Nuclear plant decommissioning trusts
   
-
   
-
   
-
   
-
 
Investment in lease obligation bonds
   
-
   
-
   
-
   
-
 
Non utility generation trusts
   
-
   
-
   
-
   
-
 
Nuclear fuel disposal trust
   
-
   
-
   
-
   
-
 
Long-term notes receivable from associated companies
   
-
   
-
   
-
   
-
 
Other
   
21,333
   
56,637
   
-
   
5
 
     
21,333
   
56,637
   
-
   
5
 
                           
DEFERRED CHARGES:
                         
Regulatory assets
   
-
   
-
   
-
   
-
 
Goodwill
   
-
   
26,224
   
-
   
-
 
Accumulated Deferred Income Taxes Assets
   
38,843
   
-
   
55,557
   
-
 
Property taxes
   
-
   
8,072
   
-
   
-
 
Unamortized sale and leaseback costs
   
-
   
-
   
-
   
-
 
Other
   
-
   
160,941
   
1,114
   
19,512
 
     
38,843
   
195,237
   
56,671
   
19,512
 
                           
TOTAL ASSETS
 
$
174,557
 
$
1,802,803
 
$
243,084
 
$
153,280
 
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
 



64


               
4 of 14
 
FIRSTENERGY CORP. CONSOLIDATING BALANCE SHEET
 
As of December 31, 2004
 
(In thousands $)
 
                   
   
FirstEnergy
 
MYR
 
GPU
 
GPU
 
   
Ventures
 
Group Inc.
 
Power, Inc.
 
Capital, Inc.
 
ASSETS
 
Consolidated
 
Consolidated
 
Consolidated
 
Consolidated
 
                   
CURRENT ASSETS:
                         
Cash and cash equivalents
 
$
-
 
$
12,285
 
$
1,094
 
$
2,500
 
Receivables-
                         
Customers
   
-
   
61,748
   
-
   
-
 
Associated companies
   
11,562
   
-
   
2,500
   
342
 
Other
   
3,168
   
35
   
4,255
   
14
 
Notes receivable from associated companies
   
51,090
   
4,143
   
38,255
   
400,589
 
Material and supplies-
                         
Owned
   
551
   
-
   
-
   
-
 
Under consignment
   
-
   
-
   
-
   
-
 
Prepayments and other
   
2,236
   
22,986
   
-
   
-
 
     
68,607
   
101,197
   
46,104
   
403,445
 
                           
PROPERTY, PLANT AND EQUIPMENT:
                         
In service
   
204,099
   
-
   
-
   
-
 
Less--Accumulated provision for depreciation
   
(31,634
)
 
-
   
-
   
-
 
     
172,465
   
-
   
-
   
-
 
Construction work in progress
   
-
   
-
   
-
   
-
 
     
172,465
   
-
   
-
   
-
 
                           
INVESTMENTS:
                         
Nuclear plant decommissioning trusts
   
-
   
-
   
-
   
-
 
Investment in lease obligation bonds
   
-
   
-
   
-
   
-
 
Non utility generation trusts
   
-
   
-
   
-
   
-
 
Nuclear fuel disposal trust
   
-
   
-
   
-
   
-
 
Long-term notes receivable from associated companies
   
-
   
-
   
-
   
-
 
Other
   
32,005
   
14,656
   
-
   
-
 
     
32,005
   
14,656
   
-
   
-
 
                           
DEFERRED CHARGES:
                         
Regulatory assets
   
-
   
-
   
-
   
-
 
Goodwill
   
68
   
63,136
   
-
   
-
 
Accumulated Deferred Income Taxes Assets
   
-
   
1,059
   
-
   
-
 
Property taxes
   
-
   
-
   
-
   
-
 
Unamortized sale and leaseback costs
   
-
   
-
   
-
   
-
 
Other
   
2,824
   
-
   
-
   
-
 
     
2,892
   
64,195
   
-
   
-
 
                           
TOTAL ASSETS
 
$
275,969
 
$
180,048
 
$
46,104
 
$
403,445
 
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.




65


               
5 of 14
 
FIRSTENERGY CORP. CONSOLIDATING BALANCE SHEET
 
As of December 31, 2004
 
(In thousands $)
 
                   
           
GPU
     
           
Diversified
 
FirstEnergy
 
   
FirstEnergy
 
License
 
Holdings LLC
 
Telecom
 
ASSETS
 
Properties, Inc.
 
Holding Co.
 
Consolidated
 
Services, Inc.
 
                   
CURRENT ASSETS:
                         
Cash and cash equivalents
 
$
100
 
$
-
 
$
-
 
$
100
 
Receivables-
                         
Customers
   
-
   
-
   
-
   
-
 
Associated companies
   
519
   
-
   
2,666
   
269
 
Other
   
11
   
-
   
-
   
1,424
 
Notes receivable from associated companies
   
24,438
   
44
   
1,557
   
-
 
Material and supplies-
                         
Owned
   
-
   
-
   
-
   
3,045
 
Under consignment
   
-
   
-
   
-
   
-
 
Prepayments and other
   
516
   
-
   
-
   
1,562
 
     
25,584
   
44
   
4,223
   
6,400
 
                           
PROPERTY, PLANT AND EQUIPMENT:
                         
In service
   
19,140
   
-
   
-
   
25,216
 
Less--Accumulated provision for depreciation
   
(2,820
)
 
-
   
-
   
(4,474
)
     
16,320
   
-
   
-
   
20,742
 
Construction work in progress
   
-
   
-
   
-
   
199
 
     
16,320
   
-
   
-
   
20,941
 
                           
INVESTMENTS:
                         
Nuclear plant decommissioning trusts
   
-
   
-
   
-
   
-
 
Investment in lease obligation bonds
   
-
   
-
   
-
   
-
 
Non utility generation trusts
   
-
   
-
   
-
   
-
 
Nuclear fuel disposal trust
   
-
   
-
   
-
   
-
 
Long-term notes receivable from associated companies
   
-
   
-
   
-
   
-
 
Other
   
569
   
-
   
10,866
   
7,756
 
     
569
   
-
   
10,866
   
7,756
 
                           
DEFERRED CHARGES:
                         
Regulatory assets
   
-
   
-
   
-
   
-
 
Goodwill
   
-
   
-
   
-
   
204
 
Accumulated Deferred Income Taxes Assets
   
208
   
3
   
497
   
6,986
 
Property taxes
   
-
   
-
   
-
   
-
 
Unamortized sale and leaseback costs
   
-
   
-
   
-
   
-
 
Other
   
77
   
-
   
4,250
   
350
 
     
285
   
3
   
4,747
   
7,540
 
                           
TOTAL ASSETS
 
$
42,758
 
$
47
 
$
19,836
 
$
42,637
 
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.



66


             
6 of 14
 
FIRSTENERGY CORP. CONSOLIDATING BALANCE SHEET
As of December 31, 2004
(In thousands $)
 
   
FirstEnergy
             
   
Service
 
GPU
 
First
     
ASSETS
 
Co.
 
Nuclear, Inc.
 
Communications
 
Eliminations
 
                   
CURRENT ASSETS:
                         
Cash and cash equivalents
 
$
15,125
 
$
48
 
$
1,908
 
$
-
 
Receivables-
                         
Customers
   
1
   
-
   
-
   
-
 
Associated companies
   
336,315
   
866
   
12
   
(1,405,236
)
Other
   
1,383
   
131
   
6,054
   
-
 
Notes receivable from associated companies
   
2,600,492
   
2,123
   
-
   
(4,977,461
)
Material and supplies-
                         
Owned
   
60,787
   
-
   
-
   
-
 
Under consignment
   
13,151
   
-
   
-
   
-
 
Prepayments and other
   
8,853
   
17
   
105
   
-
 
     
3,036,107
   
3,185
   
8,079
   
(6,382,697
)
                           
PROPERTY, PLANT AND EQUIPMENT:
                         
In service
   
326,512
   
-
   
-
   
170,538
 
Less--Accumulated provision for depreciation
   
(165,768
)
 
-
   
-
   
(102,910
)
     
160,744
   
-
   
-
   
67,628
 
Construction work in progress
   
8,395
   
-
   
-
   
-
 
     
169,139
   
-
   
-
   
67,628
 
                           
INVESTMENTS:
                         
Nuclear plant decommissioning trusts
   
-
   
-
   
-
   
-
 
Investment in lease obligation bonds
   
-
   
-
   
-
   
-
 
Non utility generation trusts
   
-
   
-
   
-
   
-
 
Nuclear fuel disposal trust
   
-
   
-
   
-
   
-
 
Long-term notes receivable from associated companies
   
-
   
-
   
-
   
(446,120
)
Other
   
165,081
   
-
   
1,849
   
(12,388,386
)
     
165,081
   
-
   
1,849
   
(12,834,506
)
                           
DEFERRED CHARGES:
                         
Regulatory assets
   
-
   
-
   
-
   
1
 
Goodwill
   
-
   
-
   
9,788
   
10,074
 
Accumulated Deferred Income Taxes Assets
   
74,268
   
1,631
   
125
   
(246,532
)
Property taxes
   
-
   
-
   
-
   
-
 
Unamortized sale and leaseback costs
   
-
   
-
   
-
   
-
 
Other
   
49,070
   
-
   
257
   
2,607
 
     
123,338
   
1,631
   
10,170
   
(233,850
)
                           
TOTAL ASSETS
 
$
3,493,665
 
$
4,816
 
$
20,098
 
$
(19,383,425
)
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
                           



67


           
       7 of 14  
FIRSTENERGY CORP. CONSOLIDATING BALANCE SHEET
 
As of December 31, 2004
 
(In thousands $)
 
           
   
FirstEnergy
     
   
Corp.
     
ASSETS
 
Consolidated
     
           
CURRENT ASSETS:
         
Cash and cash equivalents
 
$
52,941
       
Receivables-
             
Customers
   
979,242
       
Associated companies
   
-
       
Other
   
377,195
       
Notes receivable from associated companies
   
-
       
Material and supplies-
             
Owned
   
363,547
       
Under consignment
   
94,226
       
Prepayments and other
   
145,196
       
     
2,012,347
       
               
PROPERTY, PLANT AND EQUIPMENT:
             
In service
   
22,213,218
       
Less--Accumulated provision for depreciation
   
(9,413,730
)
     
     
12,799,488
       
Construction work in progress
   
678,868
       
     
13,478,356
       
               
INVESTMENTS:
             
Nuclear plant decommissioning trusts
   
1,582,588
       
Investment in lease obligation bonds
   
951,352
       
Non utility generation trusts
   
95,991
       
Nuclear fuel disposal trust
   
159,696
       
Long-term notes receivable from associated companies
   
-
       
Other
   
484,339
       
     
3,273,966
       
               
DEFERRED CHARGES:
             
Regulatory assets
   
5,532,087
       
Goodwill
   
6,050,277
       
Accumulated Deferred Income Taxes Assets
   
-
       
Property taxes
   
202,156
       
Unamortized sale and leaseback costs
   
78,462
       
Other
   
440,293
       
     
12,303,275
       
               
TOTAL ASSETS
 
$
31,067,944
       
               
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.



68


               
8 of 14
 
FIRSTENERGY CORP. CONSOLIDATING BALANCE SHEET
 
As of December 31, 2004
 
(In thousands $)
 
                   
   
FirstEnergy
 
Ohio
 
Cleveland
 
Toledo
 
   
Holding
 
Edison
 
Electric
 
Edison
 
LIABILITIES AND CAPITALIZATION
 
Company
 
Consolidated
 
Consolidated
 
Consolidated
 
                   
CURRENT LIABILITIES:
                 
Currently payable long-term debt
 
$
300,000
 
$
398,263
 
$
76,701
 
$
90,950
 
Short-term borrowings
   
-
   
167,007
   
-
   
-
 
Notes payable to associated companies
   
-
   
11,852
   
488,633
   
429,517
 
Accounts payable-
                         
Other
   
-
   
10,582
   
9,271
   
2,247
 
Associated companies
   
60,850
   
187,921
   
150,141
   
110,047
 
Accrued taxes
   
15,607
   
153,400
   
129,454
   
46,957
 
Accrued interest
   
37,062
   
11,992
   
22,102
   
3,331
 
Lease market valuation liability
   
-
   
-
   
60,200
   
24,600
 
Other
   
139,305
   
62,671
   
61,131
   
49,724
 
     
552,824
   
1,003,688
   
997,633
   
757,373
 
                           
CAPITALIZATION:
                         
Common stockholders' equity
   
8,579,221
   
2,493,809
   
1,853,561
   
835,327
 
Preferred stock of consolidated subsidiaries--
                         
Not subject to mandatory redemption
   
-
   
100,070
   
96,404
   
126,000
 
Long-term debt and other long-term obligations
   
4,239,356
   
1,114,914
   
1,970,117
   
300,299
 
     
12,818,577
   
3,708,793
   
3,920,082
   
1,261,626
 
                           
NONCURRENT LIABILITIES:
                         
Accumulated deferred income taxes
   
-
   
766,276
   
540,211
   
221,950
 
Accumulated deferred investment tax credits
   
-
   
62,471
   
60,901
   
25,102
 
Asset retirement obligations
   
-
   
339,134
   
272,123
   
194,315
 
Nuclear fuel disposal costs
   
-
   
-
   
-
   
28,229
 
Power purchase contract loss liability
   
-
   
-
   
-
   
-
 
Retirement benefits
   
11,862
   
307,880
   
82,306
   
39,227
 
Lease market valuation liability
   
-
   
-
   
668,200
   
268,000
 
Regulatory liability
   
-
   
18,454
   
-
   
-
 
Other
   
22,863
   
275,955
   
149,009
   
38,084
 
     
34,725
   
1,770,170
   
1,772,750
   
814,907
 
                           
TOTAL LIABILITIES AND CAPITALIZATION
 
$
13,406,126
 
$
6,482,651
 
$
6,690,465
 
$
2,833,906
 
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
 
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
                           



69


               
9 of 14
 
FIRSTENERGY CORP. CONSOLIDATING BALANCE SHEET
 
As of December 31, 2004
 
(In thousands $)
 
       
Jersey
         
   
American
 
Central
 
Metropolitan
 
Pennsylvania
 
   
Transmission
 
Power & Light
 
Edison
 
Electric
 
LIABILITIES AND CAPITALIZATION
 
Systems, Inc.
 
Consolidated
 
Consolidated
 
Consolidated
 
                   
CURRENT LIABILITIES:
                 
Currently payable long-term debt
 
$
-
 
$
16,866
 
$
30,435
 
$
8,248
 
Short-term borrowings
   
-
   
-
   
-
   
-
 
Notes payable to associated companies
   
2,138
   
248,532
   
80,090
   
241,496
 
Accounts payable-
                         
Other
   
-
   
124,733
   
26,097
   
25,960
 
Associated companies
   
22,849
   
20,605
   
88,879
   
56,154
 
Accrued taxes
   
38,052
   
2,626
   
11,957
   
7,999
 
Accrued interest
   
-
   
10,359
   
11,618
   
9,695
 
Lease market valuation liability
   
-
   
-
   
-
   
-
 
Other
   
819
   
65,130
   
23,076
   
23,750
 
     
63,858
   
488,851
   
272,152
   
373,302
 
                           
CAPITALIZATION:
                         
Common stockholders' equity
   
295,420
   
3,155,362
   
1,285,419
   
1,305,015
 
Preferred stock of consolidated subsidiaries--
                         
Not subject to mandatory redemption
   
-
   
12,649
   
-
   
-
 
Long-term debt and other long-term obligations
   
330,018
   
1,238,984
   
701,736
   
481,871
 
     
625,438
   
4,406,995
   
1,987,155
   
1,786,886
 
                           
NONCURRENT LIABILITIES:
                         
Accumulated deferred income taxes
   
45,106
   
645,741
   
305,389
   
37,318
 
Accumulated deferred investment tax credits
   
12,783
   
6,124
   
10,868
   
8,917
 
Asset retirement obligations
   
-
   
72,655
   
132,887
   
66,443
 
Nuclear fuel disposal costs
   
-
   
169,884
   
38,408
   
19,204
 
Power purchase contract loss liability
   
-
   
1,268,478
   
349,980
   
382,548
 
Retirement benefits
   
459
   
103,036
   
82,218
   
118,247
 
Lease market valuation liability
   
-
   
-
   
-
   
-
 
Regulatory liability
   
-
   
-
   
-
   
-
 
Other
   
37,216
   
129,420
   
66,221
   
20,887
 
     
95,564
   
2,395,338
   
985,971
   
653,564
 
                           
TOTAL LIABILITIES AND CAPITALIZATION
 
$
784,860
 
$
7,291,184
 
$
3,245,278
 
$
2,813,752
 
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
 
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
 
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
                           




70


               
10 of 14
 
FIRSTENERGY CORP. CONSOLIDATING BALANCE SHEET
 
As of December 31, 2004
 
(In thousands $)
 
                   
   
FirstEnergy
         
MARBEL
 
   
Facilities
 
FirstEnergy
 
FirstEnergy
 
Energy
 
   
Services
 
Solutions
 
Nuclear
 
Corporation
 
LIABILITIES AND CAPITALIZATION
 
Consolidated
 
Consolidated
 
Operating Co.
 
Consolidated
 
                   
CURRENT LIABILITIES:
                 
Currently payable long-term debt
 
$
500
 
$
15,000
 
$
-
 
$
-
 
Short-term borrowings
   
3,481
   
-
   
-
   
-
 
Notes payable to associated companies
   
8,877
   
1,090,134
   
58,559
   
-
 
Accounts payable-
                         
Other
   
45,314
   
180,393
   
75,521
   
2,869
 
Associated companies
   
95
   
155,481
   
717
   
24
 
Accrued taxes
   
2,573
   
70,183
   
5,647
   
9,035
 
Accrued interest
   
-
   
63
   
-
   
-
 
Lease market valuation liability
   
-
   
-
   
-
   
-
 
Other
   
16,123
   
49,387
   
65,006
   
-
 
     
76,963
   
1,560,641
   
205,450
   
11,928
 
                           
CAPITALIZATION:
                         
Common stockholders' equity
   
90,753
   
170,247
   
(11,200
)
 
141,151
 
Preferred stock of consolidated subsidiaries--
                         
Not subject to mandatory redemption
   
-
   
-
   
-
   
-
 
Long-term debt and other long-term obligations
   
6,841
   
(70
)
 
-
   
-
 
     
97,594
   
170,177
   
(11,200
)
 
141,151
 
                           
NONCURRENT LIABILITIES:
                         
Accumulated deferred income taxes
   
-
   
391
   
-
   
-
 
Accumulated deferred investment tax credits
   
-
   
-
   
-
   
-
 
Asset retirement obligations
   
-
   
-
   
-
   
-
 
Nuclear fuel disposal costs
   
-
   
-
   
-
   
-
 
Power purchase contract loss liability
   
-
   
-
   
-
   
-
 
Retirement benefits
   
-
   
56,215
   
48,706
   
-
 
Lease market valuation liability
   
-
   
-
   
-
   
-
 
Regulatory liability
   
-
   
-
   
-
   
-
 
Other
   
-
   
15,379
   
128
   
201
 
     
-
   
71,985
   
48,834
   
201
 
                           
TOTAL LIABILITIES AND CAPITALIZATION
 
$
174,557
 
$
1,802,803
 
$
243,084
 
$
153,280
 
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
                           




71


               
11 of 14
 
FIRSTENERGY CORP. CONSOLIDATING BALANCE SHEET
 
As of December 31, 2004
 
(In thousands $)
 
                   
   
FirstEnergy
 
MYR
 
GPU
 
GPU
 
   
Ventures
 
Group Inc.
 
Power, Inc.
 
Capital, Inc.
 
LIABILITIES AND CAPITALIZATION
 
Consolidated
 
Consolidated
 
Consolidated
 
Consolidated
 
                   
CURRENT LIABILITIES:
                 
Currently payable long-term debt
 
$
3,702
 
$
-
 
$
-
 
$
-
 
Short-term borrowings
   
-
   
-
   
-
   
-
 
Notes payable to associated companies
   
1,128
   
-
   
-
   
65,921
 
Accounts payable-
                         
Other
   
463
   
12,202
   
38
   
-
 
Associated companies
   
8,298
   
1,430
   
16
   
2,873
 
Accrued taxes
   
1,468
   
-
   
7,512
   
156,876
 
Accrued interest
   
2,862
   
-
   
-
   
-
 
Lease market valuation liability
   
-
   
-
   
-
   
-
 
Other
   
26
   
38,826
   
382
   
-
 
     
17,947
   
52,458
   
7,948
   
225,670
 
                           
CAPITALIZATION:
                         
Common stockholders' equity
   
110,446
   
127,434
   
37,874
   
175,400
 
Preferred stock of consolidated subsidiaries--
                         
Not subject to mandatory redemption
   
-
   
-
   
-
   
-
 
Long-term debt and other long-term obligations
   
134,029
   
-
   
-
   
-
 
     
244,475
   
127,434
   
37,874
   
175,400
 
                           
NONCURRENT LIABILITIES:
                         
Accumulated deferred income taxes
   
7,965
   
-
   
282
   
-
 
Accumulated deferred investment tax credits
   
-
   
-
   
-
   
-
 
Asset retirement obligations
   
-
   
-
   
-
   
-
 
Nuclear fuel disposal costs
   
-
   
-
   
-
   
-
 
Power purchase contract loss liability
   
-
   
-
   
-
   
-
 
Retirement benefits
   
-
   
-
   
-
   
-
 
Lease market valuation liability
   
-
   
-
   
-
   
-
 
Regulatory liability
   
-
   
-
   
-
   
-
 
Other
   
5,582
   
156
   
-
   
2,375
 
     
13,547
   
156
   
282
   
2,375
 
                           
TOTAL LIABILITIES AND CAPITALIZATION
 
$
275,969
 
$
180,048
 
$
46,104
 
$
403,445
 
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
                           




72


               
12 of 14
 
FIRSTENERGY CORP. CONSOLIDATING BALANCE SHEET
 
As of December 31, 2004
 
(In thousands $)
 
                   
           
GPU
     
           
Diversified
 
FirstEnergy
 
   
FirstEnergy
 
License
 
Holdings LLC
 
Telecom
 
LIABILITIES AND CAPITALIZATION
 
Properties, Inc.
 
Holding Co.
 
Consolidated
 
Services, Inc.
 
                   
CURRENT LIABILITIES:
                 
Currently payable long-term debt
 
$
280
 
$
-
 
$
-
 
$
-
 
Short-term borrowings
   
-
   
-
   
-
   
-
 
Notes payable to associated companies
   
-
   
-
   
-
   
26,108
 
Accounts payable-
                         
Other
   
34
   
-
   
-
   
411
 
Associated companies
   
-
   
-
   
-
   
1,948
 
Accrued taxes
   
446
   
15
   
-
   
741
 
Accrued interest
                     
36
 
Lease market valuation liability
   
-
   
-
   
-
   
-
 
Other
   
-
   
-
   
-
   
2,486
 
     
760
   
15
   
-
   
31,730
 
                           
CAPITALIZATION:
                         
Common stockholders' equity
   
33,037
   
32
   
19,836
   
(5,751
)
Preferred stock of consolidated subsidiaries--
                         
Not subject to mandatory redemption
   
-
   
-
   
-
   
-
 
Long-term debt and other long-term obligations
   
8,902
   
-
   
-
   
-
 
     
41,939
   
32
   
19,836
   
(5,751
)
                           
NONCURRENT LIABILITIES:
                         
Accumulated deferred income taxes
   
-
   
-
   
-
   
-
 
Accumulated deferred investment tax credits
   
-
   
-
   
-
   
-
 
Asset retirement obligations
   
-
   
-
   
-
   
-
 
Nuclear fuel disposal costs
   
-
   
-
   
-
   
-
 
Power purchase contract loss liability
   
-
   
-
   
-
   
-
 
Retirement benefits
   
-
   
-
   
-
   
-
 
Lease market valuation liability
   
-
   
-
   
-
   
-
 
Regulatory liability
   
-
   
-
   
-
   
-
 
Other
   
59
   
-
   
-
   
16,658
 
     
59
   
-
   
-
   
16,658
 
                           
TOTAL LIABILITIES AND CAPITALIZATION
 
$
42,758
 
$
47
 
$
19,836
 
$
42,637
 
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
                           




73


               
13 of 14
 
FIRSTENERGY CORP. CONSOLIDATING BALANCE SHEET
As of December 31, 2004
(In thousands $)
 
                   
   
FirstEnergy
             
   
Service
 
GPU
 
First
     
LIABILITIES AND CAPITALIZATION
 
Co.
 
Nuclear, Inc.
 
Communications
 
Eliminations
 
                   
CURRENT LIABILITIES:
                 
Currently payable long-term debt
 
$
-
 
$
-
 
$
-
 
$
(1
)
Short-term borrowings
   
-
   
-
   
-
   
1
 
Notes payable to associated companies
   
2,224,476
   
-
   
-
   
(4,977,461
)
Accounts payable-
                         
Other
   
90,910
   
-
   
3,544
   
-
 
Associated companies
   
400,390
   
752
   
52
   
(1,269,522
)
Accrued taxes
   
129,824
   
2,462
   
100
   
(135,715
)
Accrued interest
   
663
   
984
   
-
   
-
 
Lease market valuation liability
   
-
   
-
   
-
   
-
 
Other
   
133,300
   
-
   
2,522
   
(37
)
     
2,979,563
   
4,198
   
6,218
   
(6,382,735
)
                           
CAPITALIZATION:
                         
Common stockholders' equity
   
4,624
   
50
   
8,629
   
(12,116,402
)
Preferred stock of consolidated subsidiaries--
                         
Not subject to mandatory redemption
   
-
   
-
   
-
   
-
 
Long-term debt and other long-term obligations
   
116,101
   
-
   
5,000
   
(634,749
)
     
120,725
   
50
   
13,629
   
(12,751,151
)
                           
NONCURRENT LIABILITIES:
                         
Accumulated deferred income taxes
   
-
   
-
   
-
   
(246,532
)
Accumulated deferred investment tax credits
   
-
   
-
   
-
   
-
 
Asset retirement obligations
   
-
   
-
   
-
   
-
 
Nuclear fuel disposal costs
   
-
   
-
   
-
   
-
 
Power purchase contract loss liability
   
-
   
-
   
-
   
-
 
Retirement benefits
   
388,817
   
-
   
-
   
-
 
Lease market valuation liability
   
-
   
-
   
-
   
-
 
Regulatory liability
   
-
   
-
   
-
   
-
 
Other
   
4,560
   
568
   
251
   
(3,007
)
     
393,377
   
568
   
251
   
(249,539
)
                           
TOTAL LIABILITIES AND CAPITALIZATION
 
$
3,493,665
 
$
4,816
 
$
20,098
 
$
(19,383,425
)
                           
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
 
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
 
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
                           
                           




74


   
 14 of 14
FIRSTENERGY CORP. CONSOLIDATING BALANCE SHEET
As of December 31, 2004
(In thousands $)
           
   
FirstEnergy
     
   
Corp.
     
LIABILITIES AND CAPITALIZATION
 
Consolidated
     
           
CURRENT LIABILITIES:
         
Currently payable long-term debt
 
$
940,944
       
Short-term borrowings
   
170,489
       
Notes payable to associated companies
   
-
       
Accounts payable-
             
Other
   
610,589
       
Associated companies
   
-
       
Accrued taxes
   
657,219
       
Accrued interest
   
110,767
       
Lease market valuation liability
   
84,800
       
Other
   
733,627
       
     
3,308,435
       
               
CAPITALIZATION:
             
Common stockholders' equity
   
8,589,294
       
Preferred stock of consolidated subsidiaries--
             
Not subject to mandatory redemption
   
335,123
       
Long-term debt and other long-term obligations
   
10,013,349
       
     
18,937,766
       
               
NONCURRENT LIABILITIES:
             
Accumulated deferred income taxes
   
2,324,097
       
Accumulated deferred investment tax credits
   
187,166
       
Asset retirement obligations
   
1,077,557
       
Nuclear fuel disposal costs
   
255,725
       
Power purchase contract loss liability
   
2,001,006
       
Retirement benefits
   
1,238,973
       
Lease market valuation liability
   
936,200
       
Regulatory liability
   
18,454
       
Other
   
782,565
       
     
8,821,743
       
               
TOTAL LIABILITIES AND CAPITALIZATION
 
$
31,067,944
       
               
The Notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual
 
reports on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
   
               


75



               
1 of 7
 
FIRSTENERGY CORP. CONSOLIDATING STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 2004
(In thousands $)
                   
   
FirstEnergy
 
Ohio
 
Cleveland
 
Toledo
 
   
Holding
 
Edison
 
Electric
 
Edison
 
   
Company
 
Consolidated
 
Consolidated
 
Consolidated
 
                   
RETAINED EARNINGS:
                 
Balance - Beginning of Period
 
$
1,604,385
 
$
522,934
 
$
494,212
 
$
113,620
 
                           
Net Income
   
878,175
   
342,766
   
236,531
   
86,283
 
                           
Cash Dividends on Common Stock
   
(490,529
)
 
(421,000
)
 
(170,000
)
 
-
 
                           
Common Stock Dividends Declared in 2004 payable in 2005
   
(135,168
)
 
-
   
-
   
-
 
                           
Preferred Stock Dividends Declared
   
-
   
(2,502
)
 
(7,003
)
 
(8,844
)
                           
Other
   
-
   
-
   
-
   
-
 
                           
Balance - End of Period
 
$
1,856,863
 
$
442,198
 
$
553,740
 
$
191,059
 
                           
                           
                           
ACCUMULATED OTHER COMPREHENSIVE INCOME:
                         
Balance - Beginning of Period
 
$
(352,649
)
$
(38,693
)
$
2,653
 
$
11,672
 
                           
Unrealized gain on investments and derivative hedges
   
39,537
   
(873
)
 
11,450
   
7,253
 
                           
Minimum liability for unfunded retirement benefits
   
-
   
(7,552
)
 
3,756
   
1,114
 
                           
Balance - End of Period
 
$
(313,112
)
$
(47,118
)
$
17,859
 
$
20,039
 
                           
The notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports
on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
                           




76



               
2 of 7
 
FIRSTENERGY CORP. CONSOLIDATING STATEMENT OF RETAINED EARNINGS
 
For the Year Ended December 31, 2004
 
(In thousands $)
 
                   
       
Jersey
         
   
American
 
Central
 
Metropolitan
 
Pennsylvania
 
   
Transmission
 
Power & Light
 
Edison
 
Electric
 
   
Systems, Inc.
 
Consolidated
 
Consolidated
 
Consolidated
 
                   
RETAINED EARNINGS:
                 
Balance - Beginning of Period
 
$
22,878
 
$
22,132
 
$
27,011
 
$
18,038
 
                           
Net Income
   
32,559
   
111,639
   
66,955
   
36,030
 
                           
Cash Dividends on Common Stock
   
(38,000
)
 
(90,000
)
 
(55,000
)
 
(8,000
)
                           
Common Stock Dividends Declared in 2004 payable in 2005
   
-
   
-
   
-
   
-
 
                           
Preferred Stock Dividends Declared
   
-
   
(500
)
 
-
   
-
 
                           
Other
   
-
   
-
   
-
   
-
 
                           
Balance - End of Period
 
$
17,437
 
$
43,271
 
$
38,966
 
$
46,068
 
                           
                           
                           
ACCUMULATED OTHER COMPREHENSIVE INCOME:
                         
Balance - Beginning of Period
 
$
(322
)
$
(51,765
)
$
(32,474
)
$
(42,185
)
                           
Unrealized gain on investments and derivative hedges
   
-
   
1,692
   
(1,845
)
 
(355
)
                           
Minimum liability for unfunded retirement benefits
   
322
   
(5,461
)
 
(9,171
)
 
(10,273
)
                           
Balance - End of Period
 
$
-
 
$
(55,534
)
$
(43,490
)
$
(52,813
)
                           
The notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
 
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports
on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
                           




77



               
3 of 7
 
FIRSTENERGY CORP. CONSOLIDATING STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 2004
(In thousands $)
                   
   
FirstEnergy
         
MARBEL
 
   
Facilities
 
FirstEnergy
 
FirstEnergy
 
Energy
 
   
Services
 
Solutions
 
Nuclear
 
Corporation
 
   
Consolidated
 
Consolidated
 
Operating Co.
 
Consolidated
 
                   
RETAINED EARNINGS:
                 
Balance - Beginning of Period
 
$
(65,367
)
$
(79,000
)
$
(11,200
)
$
47,179
 
                           
Net Income
   
(35,991
)
 
232,074
   
-
   
(31,660
)
                           
Cash Dividends on Common Stock
   
-
   
-
   
-
   
-
 
                           
Common Stock Dividends Declared in 2004 payable in 2005
   
-
   
-
   
-
   
-
 
                           
Preferred Stock Dividends Declared
   
-
   
-
   
-
   
-
 
                           
Other
   
-
   
-
   
-
   
-
 
                           
Balance - End of Period
 
$
(101,358
)
$
153,074
 
$
(11,200
)
$
15,519
 
                           
                           
                           
ACCUMULATED OTHER COMPREHENSIVE INCOME:
                         
Balance - Beginning of Period
 
$
-
 
$
(4,960
)
$
(9,080
)
$
(10,226
)
                           
Unrealized gain on investments and derivative hedges
   
-
   
(5,561
)
 
-
   
10,226
 
                           
Minimum liability for unfunded retirement benefits
   
-
   
12,027
   
9,080
   
-
 
                           
Balance - End of Period
 
$
-
 
$
1,506
 
$
-
 
$
-
 
                           
The notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports
on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
                           




78



               
4 of 7
 
FIRSTENERGY CORP. CONSOLIDATING STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 2004
(In thousands $)
                   
   
FirstEnergy
 
MYR
 
GPU
 
GPU
 
   
Ventures
 
Group Inc.
 
Power, Inc.
 
Capital, Inc.
 
   
Consolidated
 
Consolidated
 
Consolidated
 
Consolidated
 
                   
RETAINED EARNINGS:
                 
Balance - Beginning of Period
 
$
12,501
 
$
(4,527
)
$
(53,023
)
$
(229,384
)
                           
Net Income
   
(897
)
 
(3,908
)
 
17,678
   
16,711
 
                           
Cash Dividends on Common Stock
   
-
   
-
   
-
   
-
 
                           
Common Stock Dividends Declared in 2004 payable in 2005
   
-
   
-
   
-
   
-
 
                           
Preferred Stock Dividends Declared
   
-
   
-
   
-
   
-
 
                           
Other
   
-
   
-
   
-
   
-
 
                           
Balance - End of Period
 
$
11,604
 
$
(8,435
)
$
(35,345
)
$
(212,673
)
                           
                           
                           
ACCUMULATED OTHER COMPREHENSIVE INCOME:
                         
Balance - Beginning of Period
 
$
-
 
$
-
 
$
-
 
$
-
 
                           
Unrealized gain on investments and derivative hedges
   
-
   
-
   
-
   
-
 
                           
Minimum liability for unfunded retirement benefits
   
-
   
-
   
-
   
-
 
                           
Balance - End of Period
 
$
-
 
$
-
 
$
-
 
$
-
 
                           
The notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports
on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
                           




79
 

               
5 of 7
 
FIRSTENERGY CORP. CONSOLIDATING STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 2004
(In thousands $)
           
GPU
     
           
Diversified
 
FirstEnergy
 
   
FirstEnergy
 
License
 
Holdings LLC
 
Telecom
 
   
Properties, Inc.
 
Holding Co.
 
Consolidated
 
Services, Inc.
 
                   
RETAINED EARNINGS:
                 
Balance - Beginning of Period
 
$
3,494
 
$
34
 
$
(1,978
)
$
5,160
 
                           
Net Income
   
503
   
(3
)
 
(6,563
)
 
1,039
 
                           
Cash Dividends on Common Stock
   
-
   
-
   
-
   
-
 
                           
Common Stock Dividends Declared in 2004 payable in 2005
   
-
   
-
   
-
   
-
 
                           
Preferred Stock Dividends Declared
   
-
   
-
   
-
   
-
 
                           
Other
   
-
   
-
   
-
   
-
 
                           
Balance - End of Period
 
$
3,997
 
$
31
 
$
(8,541
)
$
6,199
 
                           
                           
                           
ACCUMULATED OTHER COMPREHENSIVE INCOME:
                         
Balance - Beginning of Period
 
$
-
 
$
-
 
$
1,151
 
$
-
 
                           
Unrealized gain on investments and derivative hedges
   
-
   
-
   
(1,151
)
 
-
 
                           
Minimum liability for unfunded retirement benefits
   
-
   
-
   
-
   
-
 
                           
Balance - End of Period
 
$
-
 
$
-
 
$
-
 
$
-
 
                           
The notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports
on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.




80



                   
               
6 of 7
 
FIRSTENERGY CORP. CONSOLIDATING STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 2004
(In thousands $)
                   
   
FirstEnergy
             
   
Service
 
GPU
 
First
     
   
Co.
 
Nuclear, Inc.
 
Communications
 
Eliminations
 
                   
RETAINED EARNINGS:
                 
Balance - Beginning of Period
 
$
2,595
 
$
-
 
$
(2,276
)
$
(845,033
)
                           
Net Income
   
-
   
-
   
2,620
   
(1,104,366
)
                           
Cash Dividends on Common Stock
   
-
   
-
   
-
   
782,000
 
                           
Common Stock Dividends Declared in 2004 payable in 2005
   
-
   
-
   
-
   
-
 
                           
Preferred Stock Dividends Declared
   
-
   
-
   
-
   
18,849
 
                           
Other
   
-
   
-
   
(278
)
 
278
 
                           
Balance - End of Period
 
$
2,595
 
$
-
 
$
66
 
$
(1,148,272
)
                           
                           
                           
ACCUMULATED OTHER COMPREHENSIVE INCOME:
                         
Balance - Beginning of Period
 
$
(65,267
)
$
-
 
$
(398
)
$
239,894
 
                           
Unrealized gain on investments and derivative hedges
   
(12
)
 
-
   
80
   
(14,648
)
                           
Minimum liability for unfunded retirement benefits
   
(98
)
 
-
   
-
   
-
 
                           
Balance - End of Period
 
$
(65,377
)
$
-
 
$
(318
)
$
225,246
 
                           
The notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports
on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.




81



       7 of 7
FIRSTENERGY CORP. CONSOLIDATING STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 2004
(In thousands $)
           
   
FirstEnergy
     
   
Corp.
     
   
Consolidated
     
           
RETAINED EARNINGS:
         
Balance - Beginning of Period
 
$
1,604,385
       
               
Net Income
   
878,175
       
               
Cash Dividends on Common Stock
   
(490,529
)
     
               
Common Stock Dividends Declared in 2004 payable in 2005
   
(135,168
)
     
               
Preferred Stock Dividends Declared
   
-
       
               
Other
   
-
       
               
Balance - End of Period
 
$
1,856,863
       
               
               
               
ACCUMULATED OTHER COMPREHENSIVE INCOME:
             
Balance - Beginning of Period
 
$
(352,649
)
     
               
Unrealized gain on investments and derivative hedges
   
45,793
       
               
Minimum liability for unfunded retirement benefits
   
(6,256
)
     
               
Balance - End of Period
 
$
(313,112
)
     
               
The notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central
Power & Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports
on Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
               




82


               
1 of 7
 
FIRSTENERGY CORP. CONSOLIDATING STATEMENTS OF CASH FLOWS
For the Year Ended December 31, 2004
(In thousands $)
                   
   
FirstEnergy
 
Ohio
 
Cleveland
 
Toledo
 
   
Holding
 
Edison
 
Electric
 
Edison
 
   
Company
 
Consolidated
 
Consolidated
 
Consolidated
 
CASH FLOWS FROM OPERATING ACTIVITIES:
                 
Net Income
 
$
878,175
 
$
342,766
 
$
236,531
 
$
86,283
 
Adjustments to reconcile net income
                         
to net cash from operating activities--
                         
Provision for depreciation
   
-
   
122,413
   
131,854
   
57,948
 
Amortization of regulatory assets
   
-
   
411,326
   
196,501
   
123,858
 
Deferral of new regulatory assets
   
-
   
(100,633
)
 
(117,466
)
 
(38,696
)
Nuclear fuel and lease amortization
   
-
   
42,811
   
28,239
   
25,034
 
Undistributed subsidiary earnings
   
(328,332
)
 
-
   
-
   
-
 
Other amortization, net
   
-
   
-
   
(18,386
)
 
-
 
Deferred purchased power and other costs
   
-
   
-
   
-
   
-
 
Deferred income taxes and investment tax credits, net
   
3,850
   
(44,469
)
 
39,129
   
6,123
 
Goodwill impairment
   
-
   
-
   
-
   
-
 
Investment impairments
   
2,133
   
-
   
-
   
-
 
Deferred rents and lease market valuation liability
   
-
   
(5,170
)
 
(56,405
)
 
(23,121
)
Accrued retirement benefit obligations
   
(3,745
)
 
31,289
   
13,245
   
5,889
 
Accrued compensation, net
   
(7
)
 
4,551
   
2,433
   
1,074
 
Commodity derivative transactions, net
   
-
   
-
   
-
   
-
 
Loss (income) from discontinued operations
   
-
   
-
   
-
   
-
 
Pension trust contribution
   
-
   
(72,763
)
 
(31,718
)
 
(12,572
)
Decrease (increase) in operating assets:
                         
Receivables
   
1,317,240
   
209,130
   
38,297
   
10,228
 
Materials and supplies
   
-
   
(10,259
)
 
(8,306
)
 
(5,133
)
Prepayments & other current assets
   
19,087
   
1,286
   
2,375
   
5,554
 
Increase (decrease) in operating liabilities:
                         
Accounts payable
   
(1,887,933
)
 
(80,738
)
 
(93,745
)
 
(23,398
)
Accrued taxes
   
(109
)
 
(406,945
)
 
(73,068
)
 
(8,647
)
Accrued interest
   
(1,075
)
 
(6,722
)
 
(15,770
)
 
(9,080
)
NUG power contract restructuring
   
-
   
-
   
-
   
-
 
Other
   
221
   
(18,066
)
 
(51,617
)
 
(18,438
)
Net cash provided from operating activities
   
(495
)
 
419,807
   
222,123
   
182,906
 
                           
CASH FLOWS FROM FINANCING ACTIVITIES:
                         
New Financing--
                         
Long-term debt
   
-
   
30,000
   
124,977
   
103,500
 
Equity contributions from parent
   
36,183
   
-
   
-
   
-
 
Redemptions and Repayments--
                         
Preferred stock
   
-
   
(750
)
 
(1,000
)
 
-
 
Long-term debt
   
(59,848
)
 
(170,997
)
 
(335,393
)
 
(262,162
)
Short-term borrowings, net
   
(280,000
)
 
(4,015
)
 
290,263
   
73,565
 
Equity payments to parent
   
-
   
-
   
-
   
-
 
Net controlled disbursement activity
   
-
   
-
   
-
   
-
 
Dividend Payments--
                         
Common stock
   
(490,529
)
 
(421,000
)
 
(170,000
)
 
-
 
Preferred stock
   
-
   
(2,502
)
 
(7,008
)
 
(8,844
)
Net cash provided from (used for) financing activities
   
(794,194
)
 
(569,264
)
 
(98,161
)
 
(93,941
)
                           
CASH FLOWS FROM INVESTING ACTIVITIES:
                         
Property additions
   
-
   
(235,022
)
 
(121,316
)
 
(64,629
)
Proceeds from sale of assets
   
1,019
   
253
   
-
   
-
 
Proceeds from certificates of deposit
   
-
   
277,763
   
-
   
-
 
Nonutility generation trusts withdrawals (contributions)
   
-
   
-
   
-
   
-
 
Contributions to nuclear decommissioning trusts
   
-
   
(31,540
)
 
(29,024
)
 
(28,541
)
Cash investments
   
-
   
28,877
   
9,270
   
10,246
 
Asset retirements and transfers
   
-
   
(25,094
)
 
(18,634
)
 
(15,430
)
Loan repayments from (loans to) associated companies, net
   
793,134
   
128,054
   
10,418
   
7,284
 
Other
   
638
   
5,513
   
739
   
(117
)
Net cash provided from (used for) investing activities
   
794,791
   
148,804
   
(148,547
)
 
(91,187
)
                           
NET INCREASE (DECREASE) IN
                         
CASH AND CASH EQUIVALENTS
 
$
102
 
$
(653
)
$
(24,585
)
$
(2,222
)
                           
The notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central Power
& Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports on
Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.




83


               
2 of 7
 
FIRSTENERGY CORP. CONSOLIDATING STATEMENTS OF CASH FLOWS
For the Year Ended December 31, 2004
(In thousands $)
 
                   
       
Jersey
         
   
American
 
Central
 
Metropolitan
 
Pennsylvania
 
   
Transmission
 
Power & Light
 
Edison
 
Electric
 
   
Systems, Inc.
 
Consolidated
 
Consolidated
 
Consolidated
 
CASH FLOWS FROM OPERATING ACTIVITIES:
                 
Net Income
 
$
32,559
 
$
111,639
 
$
66,955
 
$
36,030
 
Adjustments to reconcile net income
                         
to net cash from operating activities--
                         
Provision for depreciation
   
30,370
   
75,163
   
41,161
   
47,104
 
Amortization of regulatory assets
   
-
   
278,559
   
105,675
   
50,403
 
Deferral of new regulatory assets
   
-
   
-
   
-
   
-
 
Nuclear fuel and lease amortization
   
-
   
-
   
-
   
-
 
Undistributed subsidiary earnings
   
-
   
-
   
-
   
-
 
Other amortization, net
   
(1,050
)
 
-
   
-
   
-
 
Deferred purchased power and other costs
   
-
   
(263,257
)
 
(65,981
)
 
(87,379
)
Deferred income taxes and investment tax credits, net
   
13,626
   
54,887
   
18,495
   
77,375
 
Goodwill impairment
   
-
   
-
   
-
   
-
 
Investment impairments
   
-
   
-
   
-
   
-
 
Deferred rents and lease market valuation liability
   
-
   
-
   
-
   
-
 
Accrued retirement benefit obligations
   
629
   
(2,986
)
 
(186
)
 
5,822
 
Accrued compensation, net
   
282
   
1,014
   
584
   
3,226
 
Commodity derivative transactions, net
   
-
   
-
   
-
   
-
 
Loss (income) from discontinued operations
   
-
   
-
   
-
   
-
 
Pension trust contribution
   
(1,637
)
 
(62,499
)
 
(38,823
)
 
(50,281
)
Decrease (increase) in operating assets:
                         
Receivables
   
(7,325
)
 
(13,360
)
 
(65,979
)
 
(2,591
)
Materials and supplies
   
-
   
45
   
69
   
-
 
Prepayments & other current assets
   
(567
)
 
17,870
   
(4,526
)
 
(4,687
)
Increase (decrease) in operating liabilities:
                         
Accounts payable
   
3,502
   
(2,887
)
 
35,639
   
(13,909
)
Accrued taxes
   
1,170
   
1,707
   
3,195
   
(705
)
Accrued interest
   
-
   
(4,484
)
 
(230
)
 
(2,999
)
NUG power contract restructuring
   
-
   
52,800
   
-
   
-
 
Other
   
(13,779
)
 
18,442
   
(22,222
)
 
(11,116
)
Net cash provided from operating activities
   
57,780
   
262,653
   
73,826
   
46,293
 
                           
CASH FLOWS FROM FINANCING ACTIVITIES:
                         
New Financing--
                         
Long-term debt
   
-
   
300,000
   
247,606
   
150,000
 
Equity contributions from parent
   
-
   
-
   
-
   
-
 
Redemptions and Repayments--
                         
Preferred stock
   
-
   
-
   
-
   
-
 
Long-term debt
   
-
   
(308,872
)
 
(196,371
)
 
(228,670
)
Short-term borrowings, net
   
157
   
17,547
   
14,755
   
162,986
 
Equity payments to parent
   
-
   
-
   
-
   
-
 
Net controlled disbursement activity
   
-
   
-
   
-
   
-
 
Dividend Payments--
                         
Common stock
   
(38,000
)
 
(90,000
)
 
(55,000
)
 
(8,000
)
Preferred stock
   
-
   
(500
)
 
-
   
-
 
Net cash provided from (used for) financing activities
   
(37,843
)
 
(81,825
)
 
10,990
   
76,316
 
                           
CASH FLOWS FROM INVESTING ACTIVITIES:
                         
Property additions
   
(21,592
)
 
(178,877
)
 
(52,979
)
 
(51,801
)
Proceeds from sale of assets
   
-
   
-
   
-
   
-
 
Proceeds from certificates of deposit
   
-
   
-
   
-
   
-
 
Nonutility generation trusts withdrawals (contributions)
   
-
   
-
   
-
   
(50,614
)
Contributions to nuclear decommissioning trusts
   
-
   
(2,895
)
 
(9,483
)
 
-
 
Cash investments
   
-
   
-
   
-
   
-
 
Asset retirements and transfers
   
(3,770
)
 
-
   
(13,693
)
 
(12,197
)
Loan repayments from (loans to) associated companies, net
   
5,425
   
(857
)
 
(8,863
)
 
(7,559
)
Other
   
-
   
1,692
   
201
   
(438
)
Net cash provided from (used for) investing activities
   
(19,937
)
 
(180,937
)
 
(84,817
)
 
(122,609
)
                           
NET INCREASE (DECREASE) IN
                         
CASH AND CASH EQUIVALENTS
 
$
-
 
$
(109
)
$
(1
)
$
-
 
                           
The notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central Power
& Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports on
Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
 


84
 
               
3 of 7
 
FIRSTENERGY CORP. CONSOLIDATING STATEMENTS OF CASH FLOWS
For the Year Ended December 31, 2004
(In thousands $)
                   
   
FirstEnergy
         
MARBEL
 
   
Facilities
 
FirstEnergy
 
FirstEnergy
 
Energy
 
   
Services
 
Solutions
 
Nuclear
 
Corporation
 
   
Consolidated
 
Consolidated
 
Operating Co.
 
Consolidated
 
CASH FLOWS FROM OPERATING ACTIVITIES:
                 
Net Income
 
$
(35,991
)
$
232,074
 
$
-
 
$
(31,660
)
Adjustments to reconcile net income
                         
to net cash from operating activities--
                         
Provision for depreciation
   
4,645
   
28,799
   
-
   
1,136
 
Amortization of regulatory assets
   
-
   
-
   
-
   
-
 
Deferral of new regulatory assets
   
-
   
-
   
-
   
-
 
Nuclear fuel and lease amortization
   
-
   
-
   
-
   
-
 
Undistributed subsidiary earnings
   
-
   
-
   
-
   
-
 
Other amortization, net
   
-
   
-
   
-
   
-
 
Deferred purchased power and other costs
   
-
   
-
   
-
   
-
 
Deferred income taxes and investment tax credits, net
   
(10,014
)
 
53,942
   
14,413
   
(26,314
)
Goodwill impairment
   
36,471
   
-
   
-
   
-
 
Investment impairments
   
10,969
   
-
   
-
   
-
 
Deferred rents and lease market valuation liability
   
-
   
-
   
-
   
-
 
Accrued retirement benefit obligations
   
-
   
23,471
   
35,867
   
-
 
Accrued compensation, net
   
-
   
12,228
   
27,518
   
-
 
Commodity derivative transactions, net
   
-
   
(48,840
)
 
-
   
-
 
Loss (income) from discontinued operations
   
-
   
(4,396
)
 
-
   
-
 
Pension trust contribution
   
-
   
(61,502
)
 
(76,572
)
 
-
 
Decrease (increase) in operating assets:
                         
Receivables
   
(21,509
)
 
200,369
   
(42,812
)
 
155
 
Materials and supplies
   
561
   
(9,077
)
 
-
   
-
 
Prepayments & other current assets
   
(2,704
)
 
2,202
   
841
   
-
 
Increase (decrease) in operating liabilities:
                         
Accounts payable
   
10,534
   
(93,428
)
 
(54,952
)
 
(9,370
)
Accrued taxes
   
(1,130
)
 
53,053
   
(9,465
)
 
2,751
 
Accrued interest
   
-
   
(1,311
)
 
-
   
-
 
NUG power contract restructuring
   
-
   
-
   
-
   
-
 
Other
   
4,022
   
3,066
   
(6,679
)
 
(5,786
)
Net cash provided from operating activities
   
(4,146
)
 
390,650
   
(111,841
)
 
(69,088
)
                           
CASH FLOWS FROM FINANCING ACTIVITIES:
                         
New Financing--
                         
Long-term debt
   
234
   
-
   
-
   
-
 
Equity contributions from parent
   
-
   
-
   
-
   
-
 
Redemptions and Repayments--
                         
Preferred stock
   
-
   
-
   
-
   
-
 
Long-term debt
   
(648
)
 
-
   
-
   
-
 
Short-term borrowings, net
   
703
   
(103,700
)
 
58,559
   
-
 
Equity payments to parent
   
-
   
(201,896
)
 
-
   
-
 
Net controlled disbursement activity
   
-
   
-
   
-
   
-
 
Dividend Payments--
                         
Common stock
   
-
   
-
   
-
   
-
 
Preferred stock
   
-
   
-
   
-
   
-
 
Net cash provided from (used for) financing activities
   
289
   
(305,596
)
 
58,559
   
-
 
                           
CASH FLOWS FROM INVESTING ACTIVITIES:
                         
Property additions
   
(2,861
)
 
(91,880
)
 
(673
)
 
-
 
Proceeds from sale of assets
   
-
   
-
   
-
   
200,000
 
Proceeds from certificates of deposit
   
-
   
-
   
-
   
-
 
Nonutility generation trusts withdrawals (contributions)
   
-
   
-
   
-
   
-
 
Contributions to nuclear decommissioning trusts
   
-
   
-
   
-
   
-
 
Cash investments
   
-
   
-
   
-
   
-
 
Asset retirements and transfers
   
773
   
(2,272
)
 
-
   
-
 
Loan repayments from (loans to) associated companies, net
   
-
   
-
   
53,955
   
(118,575
)
Other
   
940
   
15,633
   
-
   
(21,119
)
Net cash provided from (used for) investing activities
   
(1,148
)
 
(78,519
)
 
53,282
   
60,306
 
                           
NET INCREASE (DECREASE) IN
                         
CASH AND CASH EQUIVALENTS
 
$
(5,005
)
$
6,535
 
$
-
 
$
(8,782
)
                           
The notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central Power
& Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports on
Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
 
85

               
4 of 7
 
FIRSTENERGY CORP. CONSOLIDATING STATEMENTS OF CASH FLOWS
For the Year Ended December 31, 2004
 
(In thousands $)
                   
   
FirstEnergy
 
MYR
 
GPU
 
GPU
 
   
Ventures
 
Group Inc.
 
Capital, Inc.
 
Power, Inc.
 
   
Consolidated
 
Consolidated
 
Consolidated
 
Consolidated
 
CASH FLOWS FROM OPERATING ACTIVITIES:
                 
Net Income
 
$
(897
)
$
(3,908
)
$
16,711
 
$
17,678
 
Adjustments to reconcile net income
                         
to net cash from operating activities--
                         
Provision for depreciation
   
10,198
   
1,074
   
(814
)
 
-
 
Amortization of regulatory assets
   
-
   
-
   
-
   
-
 
Deferral of new regulatory assets
   
-
   
-
   
-
   
-
 
Nuclear fuel and lease amortization
   
-
   
-
   
-
   
-
 
Undistributed subsidiary earnings
   
-
   
-
   
-
   
-
 
Other amortization, net
   
-
   
-
   
-
   
-
 
Deferred purchased power and other costs
   
-
   
-
   
-
   
-
 
Deferred income taxes and investment tax credits, net
   
4,189
   
-
   
-
   
-
 
Goodwill impairment
   
-
   
-
   
-
   
-
 
Investment impairments
   
-
   
-
   
-
   
-
 
Deferred rents and lease market valuation liability
   
-
   
-
   
-
   
-
 
Accrued retirement benefit obligations
   
-
   
-
   
-
   
-
 
Accrued compensation, net
   
-
   
(4,264
)
 
-
   
-
 
Commodity derivative transactions, net
   
-
   
-
   
-
   
-
 
Loss (income) from discontinued operations
   
-
   
-
   
-
   
-
 
Pension trust contribution
   
-
   
-
   
-
   
-
 
Decrease (increase) in operating assets:
                         
Receivables
   
30,836
   
22,525
   
1,255,998
   
15,051
 
Materials and supplies
   
(14
)
 
-
   
-
   
-
 
Prepayments & other current assets
   
572
   
(6,970
)
 
-
   
4
 
Increase (decrease) in operating liabilities:
                         
Accounts payable
   
2,507
   
(1,523
)
 
(104,715
)
 
(251
)
Accrued taxes
   
(5,038
)
 
-
   
(6,611
)
 
7,512
 
Accrued interest
   
(63
)
 
-
   
-
   
-
 
NUG power contract restructuring
   
-
   
-
   
-
   
-
 
Other
   
(4,354
)
 
(388
)
 
18,988
   
(12,272
)
Net cash provided from operating activities
   
37,936
   
6,546
   
1,179,557
   
27,722
 
                           
CASH FLOWS FROM FINANCING ACTIVITIES:
                         
New Financing--
                         
Long-term debt
   
-
   
-
   
-
   
-
 
Equity contributions from parent
   
-
   
-
   
-
   
5,329
 
Redemptions and Repayments--
                         
Preferred stock
   
-
   
-
   
-
   
-
 
Long-term debt
   
(3,299
)
 
-
   
-
   
-
 
Short-term borrowings, net
   
(6,859
)
 
-
   
(786,392
)
 
-
 
Equity payments to parent
   
(4,000
)
 
-
   
-
   
-
 
Net controlled disbursement activity
   
-
   
-
   
-
   
-
 
Dividend Payments--
                         
Common stock
   
-
   
-
   
-
   
-
 
Preferred stock
   
-
   
-
   
-
   
-
 
Net cash provided from (used for) financing activities
   
(14,158
)
 
-
   
(786,392
)
 
5,329
 
                           
CASH FLOWS FROM INVESTING ACTIVITIES:
                         
Property additions
   
(233
)
 
(4,127
)
 
-
   
-
 
Proceeds from sale of assets
   
-
   
1,149
   
8,914
   
2,533
 
Proceeds from certificates of deposit
   
-
   
-
   
-
   
-
 
Nonutility generation trusts withdrawals (contributions)
   
-
   
-
   
-
   
-
 
Contributions to nuclear decommissioning trusts
   
-
   
-
   
-
   
-
 
Cash investments
   
-
   
-
   
-
   
-
 
Asset retirements and transfers
   
(8
)
 
614
   
-
   
-
 
Loan repayments from (loans to) associated companies, net
   
(17,111
)
 
(1,178
)
 
(400,590
)
 
(36,255
)
Other
   
(11,609
)
 
-
   
-
   
-
 
Net cash provided from (used for) investing activities
   
(28,961
)
 
(3,542
)
 
(391,676
)
 
(33,722
)
                           
NET INCREASE (DECREASE) IN
                         
CASH AND CASH EQUIVALENTS
 
$
(5,183
)
$
3,004
 
$
1,489
 
$
(671
)
                           
The notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central Power
& Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports on
Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.

 
86


               
5 of 7
 
FIRSTENERGY CORP. CONSOLIDATING STATEMENTS OF CASH FLOWS
For the Year Ended December 31, 2004
(In thousands $)
                   
           
GPU
     
           
Diversified
 
FirstEnergy
 
   
FirstEnergy
 
License
 
Holdings LLC
 
Telecom
 
   
Properties, Inc.
 
Holding Co.
 
Consolidated
 
Services, Inc.
 
CASH FLOWS FROM OPERATING ACTIVITIES:
                 
Net Income
 
$
503
 
$
(3
)
$
(6,563
)
$
1,039
 
Adjustments to reconcile net income
                         
to net cash from operating activities--
                         
Provision for depreciation
   
263
   
-
   
-
   
1,900
 
Amortization of regulatory assets
   
-
   
-
   
-
   
-
 
Deferral of new regulatory assets
   
-
   
-
   
-
   
-
 
Nuclear fuel and lease amortization
   
-
   
-
   
-
   
-
 
Undistributed subsidiary earnings
   
-
   
-
   
-
   
-
 
Other amortization, net
   
-
   
-
   
-
   
-
 
Deferred purchased power and other costs
   
-
   
-
   
-
   
-
 
Deferred income taxes and investment tax credits, net
   
173
   
(1
)
 
-
   
3,301
 
Goodwill impairment
   
-
   
-
   
-
   
-
 
Investment impairments
   
-
   
-
   
4,795
   
-
 
Deferred rents and lease market valuation liability
   
-
   
-
   
-
   
-
 
Accrued retirement benefit obligations
   
-
   
-
   
-
   
-
 
Accrued compensation, net
   
-
   
-
   
-
   
-
 
Commodity derivative transactions, net
   
-
   
-
   
-
   
-
 
Loss (income) from discontinued operations
   
-
   
-
   
-
   
-
 
Pension trust contribution
   
-
   
-
   
-
   
-
 
Decrease (increase) in operating assets:
                         
Receivables
   
(289
)
 
-
   
(1,465
)
 
10,383
 
Materials and supplies
   
-
   
-
   
-
   
(5
)
Prepayments & other current assets
   
(513
)
 
-
   
-
   
31
 
Increase (decrease) in operating liabilities:
                         
Accounts payable
   
2
   
-
   
(66
)
 
86
 
Accrued taxes
   
(114
)
 
(1
)
 
(117
)
 
(1,105
)
Accrued interest
   
-
   
-
   
-
   
36
 
NUG power contract restructuring
   
-
   
-
   
-
   
-
 
Other
   
24
   
-
   
3,866
   
(1,218
)
Net cash provided from operating activities
   
49
   
(5
)
 
450
   
14,448
 
                           
CASH FLOWS FROM FINANCING ACTIVITIES:
                         
New Financing--
                         
Long-term debt
   
-
   
-
   
-
   
-
 
Equity contributions from parent
   
-
   
-
   
-
   
-
 
Redemptions and Repayments--
                         
Preferred stock
   
-
   
-
   
-
   
-
 
Long-term debt
   
(257
)
 
-
   
-
   
-
 
Short-term borrowings, net
   
-
   
-
   
-
   
(15,053
)
Equity payments to parent
   
-
   
-
   
-
   
-
 
Net controlled disbursement activity
   
-
   
-
   
-
   
-
 
Dividend Payments--
                         
Common stock
   
-
   
-
   
-
   
-
 
Preferred stock
   
-
   
-
   
-
   
-
 
Net cash provided from (used for) financing activities
   
(257
)
 
-
   
-
   
(15,053
)
                           
CASH FLOWS FROM INVESTING ACTIVITIES:
                         
Property additions
   
-
   
-
   
-
   
1,027
 
Proceeds from sale of assets
   
260
   
-
   
390
   
-
 
Proceeds from certificates of deposit
   
-
   
-
   
-
   
-
 
Nonutility generation trusts withdrawals (contributions)
   
-
   
-
   
-
   
-
 
Contributions to nuclear decommissioning trusts
   
-
   
-
   
-
   
-
 
Cash investments
   
-
   
-
   
-
   
904
 
Asset retirements and transfers
   
-
   
-
   
-
   
(1,326
)
Loan repayments from (loans to) associated companies, net
   
(236
)
 
5
   
2,693
   
-
 
Other
   
184
   
-
   
(3,533
)
 
-
 
Net cash provided from (used for) investing activities
   
208
   
5
   
(450
)
 
605
 
                           
NET INCREASE (DECREASE) IN
                         
CASH AND CASH EQUIVALENTS
 
$
-
 
$
-
 
$
-
 
$
-
 
                           
The notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central Power
& Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports on
Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.

 

87


               
6 of 7
 
FIRSTENERGY CORP. CONSOLIDATING STATEMENTS OF CASH FLOWS
For the Year Ended December 31, 2004
(In thousands $)
                   
   
FirstEnergy
             
   
Service
 
GPU
 
FIRST
     
   
Co.
 
Nuclear, Inc.
 
Communications
 
Eliminations
 
CASH FLOWS FROM OPERATING ACTIVITIES:
                 
Net Income
 
$
-
 
$
-
 
$
2,620
 
$
(1,104,366
)
Adjustments to reconcile net income
                         
to net cash from operating activities--
                         
Provision for depreciation
   
34,736
   
-
   
-
   
1,702
 
Amortization of regulatory assets
   
-
   
-
   
-
   
1
 
Deferral of new regulatory assets
   
-
   
-
   
-
   
-
 
Nuclear fuel and lease amortization
   
-
   
-
   
-
   
-
 
Undistributed subsidiary earnings
   
-
   
-
   
-
   
328,332
 
Other amortization, net
   
-
   
-
   
-
   
-
 
Deferred purchased power and other costs
   
-
   
-
   
-
   
-
 
Deferred income taxes and investment tax credits, net
   
49,811
   
(250
)
 
-
   
(3
)
Goodwill impairment
   
-
   
-
   
-
   
-
 
Investment impairments
   
-
   
-
   
-
   
-
 
Deferred rents and lease market valuation liability
   
-
   
-
   
-
   
-
 
Accrued retirement benefit obligations
   
28,447
   
-
   
-
   
-
 
Accrued compensation, net
   
(30,237
)
 
-
   
(5
)
 
-
 
Commodity derivative transactions, net
   
-
   
-
   
-
   
-
 
Loss (income) from discontinued operations
   
-
   
-
   
-
   
-
 
Pension trust contribution
   
(91,633
)
 
-
   
-
   
-
 
Decrease (increase) in operating assets:
                         
Receivables
   
1,012,682
   
6,554
   
(1,234
)
 
(3,818,831
)
Materials and supplies
   
(4,634
)
 
-
   
-
   
2
 
Prepayments & other current assets
   
17,189
   
(18
)
 
(17
)
 
1
 
Increase (decrease) in operating liabilities:
                         
Accounts payable
   
(1,456,242
)
 
(160
)
 
61
   
3,660,039
 
Accrued taxes
   
123,702
   
(167
)
 
(14
)
 
305,135
 
Accrued interest
   
(12
)
 
56
   
-
   
(2
)
NUG power contract restructuring
   
-
   
-
   
-
   
-
 
Other
   
(11,349
)
 
(1,029
)
 
78
   
88,734
 
Net cash provided from operating activities
   
(327,540
)
 
4,986
   
1,489
   
(539,256
)
                           
CASH FLOWS FROM FINANCING ACTIVITIES:
                         
New Financing--
                         
Long-term debt
   
59,654
   
-
   
-
   
(54,497
)
Equity contributions from parent
   
108,277
   
-
   
-
   
(149,789
)
Redemptions and Repayments--
                         
Preferred stock
   
-
   
-
   
-
   
-
 
Long-term debt
   
-
   
-
   
(407
)
 
(5,156
)
Short-term borrowings, net
   
(142,697
)
 
(2,863
)
 
-
   
371,993
 
Equity payments to parent
   
-
   
-
   
-
   
205,896
 
Net controlled disbursement activity
   
(2,740
)
 
-
   
-
   
-
 
Dividend Payments--
                         
Common stock
   
-
   
-
   
-
   
782,000
 
Preferred stock
   
-
   
-
   
-
   
18,854
 
Net cash provided from (used for) financing activities
   
22,494
   
(2,863
)
 
(407
)
 
1,169,301
 
                           
CASH FLOWS FROM INVESTING ACTIVITIES:
                         
Property additions
   
(21,258
)
 
-
   
-
   
-
 
Proceeds from sale of assets
   
-
   
-
   
-
   
-
 
Proceeds from certificates of deposit
   
-
   
-
   
-
   
-
 
Nonutility generation trusts withdrawals (contributions)
   
-
   
-
   
-
   
-
 
Contributions to nuclear decommissioning trusts
   
-
   
-
   
-
   
-
 
Cash investments
   
(11,935
)
 
-
   
-
   
(10,280
)
Asset retirements and transfers
   
100,176
   
-
   
374
   
-
 
Loan repayments from (loans to) associated companies, net
   
212,144
   
(2,123
)
 
-
   
(619,765
)
Other
   
(490
)
 
-
   
-
   
-
 
Net cash provided from (used for) investing activities
   
278,637
   
(2,123
)
 
374
   
(630,045
)
                           
NET INCREASE (DECREASE) IN
                         
CASH AND CASH EQUIVALENTS
 
$
(26,409
)
$
-
 
$
1,456
 
$
-
 
                           
The notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central Power
& Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports on
Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
 

88
 
       7 of 7  
FIRSTENERGY CORP. CONSOLIDATING STATEMENTS OF CASH FLOWS
For the Year Ended December 31, 2004
(In thousands $)
   
FirstEnergy
     
   
Corp.
     
   
Consolidated
     
CASH FLOWS FROM OPERATING ACTIVITIES:
         
Net Income
 
$
878,175
       
Adjustments to reconcile net income
             
to net cash from operating activities--
             
Provision for depreciation
   
589,652
       
Amortization of regulatory assets
   
1,166,323
       
Deferral of new regulatory assets
   
(256,795
)
     
Nuclear fuel and lease amortization
   
96,084
       
Undistributed subsidiary earnings
   
-
       
Other amortization, net
   
(19,436
)
     
Deferred purchased power and other costs
   
(416,617
)
     
Deferred income taxes and investment tax credits, net
   
258,263
       
Goodwill impairment
   
36,471
       
Investment impairments
   
17,897
       
Deferred rents and lease market valuation liability
   
(84,696
)
     
Accrued retirement benefit obligations
   
137,742
       
Accrued compensation, net
   
18,397
       
Commodity derivative transactions, net
   
(48,840
)
     
Loss (income) from discontinued operations
   
(4,396
)
     
Pension trust contribution
   
(500,000
)
     
Decrease (increase) in operating assets:
             
Receivables
   
154,053
       
Materials and supplies
   
(36,751
)
     
Prepayments & other current assets
   
47,010
       
Increase (decrease) in operating liabilities:
   
-
       
Accounts payable
   
(110,947
)
     
Accrued taxes
   
(15,011
)
     
Accrued interest
   
(41,656
)
     
NUG power contract restructuring
   
52,800
       
Other
   
(40,872
)
     
Net cash provided from operating activities
   
1,876,850
       
               
CASH FLOWS FROM FINANCING ACTIVITIES:
             
New Financing--
             
Long-term debt
   
961,474
       
Equity contributions from parent
   
-
       
Redemptions and Repayments--
             
Preferred stock
   
(1,750
)
     
Long-term debt
   
(1,572,080
)
     
Short-term borrowings, net
   
(351,051
)
     
Equity payments to parent
   
-
       
Net controlled disbursement activity
   
(2,740
)
     
Dividend Payments--
             
Common stock
   
(490,529
)
     
Preferred stock
   
-
       
Net cash provided from (used for) financing activities
   
(1,456,676
)
     
               
CASH FLOWS FROM INVESTING ACTIVITIES:
             
Property additions
   
(846,221
)
     
Proceeds from sale of assets
   
214,518
       
Proceeds from certificates of deposit
   
277,763
       
Nonutility generation trusts withdrawals (contributions)
   
(50,614
)
     
Contributions to nuclear decommissioning trusts
   
(101,483
)
     
Cash investments
   
27,082
       
Asset retirements and transfers
   
9,513
       
Loan repayments from (loans to) associated companies, net
   
-
       
Other
   
(11,766
)
     
Net cash provided from (used for) investing activities
   
(481,208
)
     
               
NET INCREASE (DECREASE) IN
             
CASH AND CASH EQUIVALENTS
 
$
(61,034
)
     
               
The notes to the consolidated financial statements of FirstEnergy, Ohio Edison, Cleveland Electric, Toledo Edison, Jersey Central Power
& Light, Metropolitan Edison and Pennsylvania Electric, which are incorporated by reference from the respective annual reports on
Form 10-K for the year ended December 31, 2004, are an integral part of the consolidating financial statements.
 

89


ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS

Exhibits

A.
Annual Reports

The following documents are incorporated by reference:

A-1
FirstEnergy Corp. - Annual Report on Form 10-K for 2004 (File No. 333-21011)
Ohio Edison Company - Annual Report on Form 10-K for 2004 (File No. 1-2578)
The Cleveland Electric Illuminating Company - Annual Report on Form 10-K for 2004 (File No. 1-2323)
The Toledo Edison Company - Annual Report on Form 10-K for 2004 (File No. 1-3583)
Pennsylvania Power Company - Annual Report on Form 10-K for 2004 (File No. 1-3491)
Jersey Central Power & Light Company - Annual Report on Form 10-K for 2004 (File No. 1-3141)
Metropolitan Edison Company - Annual Report on Form 10-K for 2004 (File No.1-446)
Pennsylvania Electric Company - Annual Report on Form 10-K for 2004 (File No.1-3522)

B.
Certificates of Incorporation, Articles of Incorporation, By-Laws, Partnership Agreements and Other Organizational Documents

FirstEnergy Corp (FirstEnergy)

B-1
Articles of Incorporation constituting FirstEnergy Corp.’s Articles of Incorporation, dated September 17, 1996. (September 17, 1996 Form 8-K, Exhibit C)

B-2
Amended Articles of Incorporation of FirstEnergy Corp -incorporated by reference to Exhibit (3)-1(a) to FirstEnergy’s Annual Report on Form 10-K for 2004. (File No. 333-21011)

B-3
Regulations of FirstEnergy Corp. (September 17, 1996 Form 8-K, Exhibit D)

B-4
FirstEnergy Corp. Amended Code of Regulations - incorporated by reference to Exhibit (3)-2(a) to FirstEnergy’s Annual Report on Form 10-K for 2004. (File No. 333-21011)

B-5
Incorporated by reference to Exhibit B to FirstEnergy’s Form U5B for the year 2004, File No. 030-00039.

American Transmissions Systems, Inc.(ATSI)
Centerior Service Company
FE Acquisition Corp.
First Communications, LLC
FE Holdings, LLC
FELHC, Inc.
FirstEnergy Facilities Services Group, LLC (FEFSG)
FirstEnergy Nuclear Operating Company
FirstEnergy Properties, Inc.
FirstEnergy Securities Transfer Company
FirstEnergy Service Company
FirstEnergy Solutions Corp. (FES)
FirstEnergy Ventures Corp.
MARBEL Energy Corporation
PowerSpan Corp.
UMICO Holdings, Inc.


90

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

FirstEnergy Telcom Services, Inc., GPU Nuclear (GPUN) and GPU Diversified Holdings

B-6
Certificate of Incorporation of GPUN, dated as of September 5, 1980 - incorporated by reference to Exhibit A-1 to Application on Form U-1, File No. 70-6443.

B-7
Certificate of Amendment to the Certificate of Incorporation of GPUN dated August 1, 1996 - incorporated by reference to Exhibit B-7 to GPU, Inc.’s Annual Report on Form U5S for the year 1996, File No. 30-126.

B-8
Amended By-Laws of GPUN, dated as of April 29, 1993 - incorporated by reference to Exhibit 3-A to GPU, Inc.'s Annual Report on Form 10K for 1993, File No.1-6047.

B-9
Articles of Incorporation of Saxton Nuclear Experimental Corporation (Saxton) dated as of March 29, 1974 - incorporated by reference to Exhibit B-12 to GPU, Inc.'s Annual Report on Form U5S for the year 1988, File No. 30-126.

B-10
Amended By-Laws of Saxton, dated as of March 30, 1984 - incorporated by reference to Exhibit A-1(e) to Application on Form U-1, File No. 70-7398.

B-11
Amendment to Section 37 of the By-Laws of Saxton, dated as of August 27, 1987 - incorporated by reference to Exhibit A-2(b), Certificate Pursuant to Rule 24, File No. 70-7398.

B-12
Certificate of Incorporation of FirstEnergy Telecom Services, Inc., formerly known as GPU Telcom Services, Inc., dated as of September 13, 1996 - incorporated by reference to Exhibit B-18 to GPU, Inc.’s Annual Report on Form U5S for the year 1997, File No. 30-126.
 
B-13
By-Laws of FirstEnergy Telecom Services, Inc., formerly known as GPU Telcom Services, Inc., dated as of March 6, 1997 - incorporated by reference to Exhibit B-19 to GPU, Inc.’s Annual Report on Form U5S for the year 1997, File No. 30-126.

B-14
Certificate of Amendment of Certificate of Incorporation dated January 15, 2004, attached as Exhibit B-14.

B-15
Certificate of Formation of GPU Diversified Holdings, LLC dated August 3, 2000 - incorporated by reference to Exhibit B-20 to GPU Inc.’s Annual Report on Form U5S for the year 2000, File No. 1-6047.

B-16
Limited Liability Company Agreement of GPU Diversified Holdings LLC dated December 12, 2000 - incorporated by reference to Exhibit B-20 to GPU Inc.’s Annual Report on Form U5S for the year 2000, File No. 1-6047.

B-17
Certificate of Incorporation of GPU Enertech Holdings, Inc. dated February 22, 2000 - incorporated by reference to Exhibit B-20 to GPU Inc.’s Annual Report on Form U5S for the year 2000, File No. 1-6047.

B-18
By-Laws of GPU Enertech Holdings, Inc. dated February 22. 2000 - incorporated by reference to Exhibit B-20 to GPU Inc.’s Annual Report on Form U5S for the year 2000, File No. 1-6047.

B-19
Amended Articles of Incorporation, Effective June 21, 1994, constituting OE’s Articles of Incorporation. (1994 Form 10-K, Exhibit 3-1.)



91

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

Ohio Edison Company (OE)

B-20
Amendment to Articles of Incorporation, effective November 12, 1999 - incorporated by reference to Exhibit (A) 3-2 to Ohio Edison Annual Report on Form 10-K for 2004, File No. 1-3491

B-21
Amended and Restated Code of Regulations, amended March 15, 2002 - incorporated by reference to Exhibit 3-2 to OE’s Annual Report on Form 10-K for 2001, File No. 1-2578.
 
Pennsylvania Power Company (Penn)

B-22
Amended and Restated Articles of Incorporation, as amended March 15, 2002 - incorporated by reference to Exhibit 3-1 to Penn’s Annual Report on Form 10-K for 2001, File No. 1-3491.

B-23
Amended and Restated By-Laws of Penn, as amended March 15, 2002 - incorporated by reference to Exhibit 3-2 to Penn’s Annual Report on Form 10-K for 2001, File No. 1-3491.


The Cleveland Electric Illuminating Company (CEI)

B-24
Amended Articles of Incorporation of CEI, as amended, effective May 28, 1993 (Exhibit 3a, 1993 Form 10-K, File No. 1-2323).

B-25
Regulations of CEI, dated April 29, 1981, as amended effective October 1, 1988 and April 24, 1990 (Exhibit 3B, 1990 Form 10—K, File No. 1-2323).

B-26
Amended and Restated Code of Regulations, dated March 15, 2002 - incorporated by reference to Exhibit 3c to CEI’s Annual Report on Form 10-K for 2001, File No. 1-2323.
 
 
The Toledo Edison Company (TE)

B-27
Amended Articles of Incorporation of TE, as amended effective October 2, 1992 (Exhibit 3a, 1992 Form 10-K, File No. 1-3583).

B-28
Amended and Restated Code of Regulations, dated March 15, 2002 - incorporated by reference to Exhibit 3b to TE’s Annual Report on Form 10-K for 2001, File No. 1-3583.


JCP&L

B-29
Restated Certificate of Incorporation of JCP&L, dated as of May 26, 1982 - incorporated by reference to Exhibit 3-A to JCP&L's Annual Report on Form 10-K for 1990, File No. 1-3141.

B-30
Certificate of Amendment to Restated Certificate of Incorporation of JCP&L, dated as of June 19, 1992 - incorporated by reference to Exhibit A-2(a), Certificate Pursuant to Rule 24, File No. 70-7949.

B-31
Certificate of Amendment to Restated Certificate of Incorporation of JCP&L, dated as of June 19, 1992 - incorporated by reference to Exhibit A-2(a)(i), Certificate Pursuant to Rule 24, File No. 70-7949.


92

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

JCP&L

B-32
Amended By-Laws of JCP&L, dated as of May 25, 1993 - incorporated by reference to Exhibit 3-B to JCP&L's Annual Report on Form 10-K for 1993, File No. 1-3141.

B-33
Certificate of Formation of JCP&L Transition Funding LLC dated February 24, 2000 - incorporated by reference to Exhibit B-20 to GPU Inc.’s Annual Report on Form U5S for the year 2000, File No. 1-6047.

B-34
Limited Liability Company Agreement for JCP&L Transition Funding LLC dated February 24, 2000 - incorporated by reference to Exhibit B-20 to GPU Inc.’s Annual Report on Form U5S for the year 2000, File No. 1-6047.


Met-Ed

B-35
Articles of Incorporation of York Haven Power Company, dated as of December 18, 1967 - incorporated by reference to Exhibit B-15 to GPU, Inc.'s Annual Report on Form U5S for the year 1988, File No. 30-126.

B-36
Amended By-Laws of York Haven Power Company, dated as of January 1, 1985 - incorporated by reference to Exhibit A-1(d), Application on Form U-1, File No. 70-7398.

B-37
Amendment to Section 29 of the By-Laws of York Haven Power Company, dated as of September 8, 1987 - incorporated by reference to Exhibit A-2(a), Certificate Pursuant to Rule 24, File No. 70-7398.

B-38
Certificate of Incorporation of Met-Ed Preferred Capital II, Inc., dated as of September 1, 1998- incorporated by reference to Exhibit 3-C, Registration Statement on Form S-3, SEC Registration Nos. 333-62967, 333-62967-01 and 333-62967-02.

B-39
By-Laws of Met-Ed Preferred Capital II, Inc., dated as of September 1, 1998- incorporated by reference to Exhibit 3-D, Registration Statement on Form S-3, SEC Registration Nos. 333-62967, 333-62967-01 and 333-62967-02.

B-40
Certificate of Limited Partnership of Met-Ed Capital II, L.P., dated as of September 1, 1998-incorporated by reference to Exhibit 3E, Registration Statement on Form S-3, SEC Registration Nos. 333-62967, 333-62967-01 and 333-62967-02.

B-41
Certificate of Business Trust Registration of Met-Ed Capital Trust, dated as of September 1,1998- incorporated by reference to Exhibit 4-K, Registration Statement on Form S-3, SEC Registration Nos. 333-62967, 333-62967-01, and 333-62967-02.

B-42
Restated Articles of Incorporation of Met-Ed dated March 8, 1999 - incorporated by reference to Exhibit 3-E of Met-Ed's Annual Report on Form 10-K for the year 1999, File No. 1-446.

B-43
Payment and Guarantee Agreement of Met-Ed, dated May 28, 1999 - incorporated by reference to Exhibit B-1(a), Certificate Pursuant to Rule 24, File No. 70-9329.

B-44
Amended By-Laws of Met-Ed as of May 16, 2000 - incorporated by reference to Exhibit 3-F of Met-Ed’s Annual Report on Form 10-K for the year 2000, File No. 2-27099.

93

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

Penelec

B-45
Articles of Incorporation of Nineveh Water Company (formerly Penelec Water Company), dated as of May 22, 1920 - incorporated by reference to Exhibit B-36 to GPU, Inc.'s Annual Report on Form U5S for the year 1988, File No. 30-126.

B-46
By-Laws of Nineveh Water Company, dated as of May 22, 1920 - incorporated by reference to Exhibit A-1(c), Application on Form U-1, File No. 70-7398.

B-47
Amendment to Article V, Section 6 of the By-Laws of Nineveh Water Company, dated as of August 27, 1987 - incorporated by reference to Exhibit A-1 (c), Certificate Pursuant to Rule 24, File No. 70-7398.

B-48
Certificate of Incorporation of Penelec Preferred Capital II, Inc., dated as of August 20, 1998- incorporated by reference to Exhibit 3-C, Registration Statement on Form S-3, SEC Registration Nos. 333-62295, 333-62295-01 and 333-62295-02.

B-49
By-Laws of Penelec Preferred Capital II, Inc., dated as of August 20, 1998- incorporated by reference to Exhibit 3-D, Registration Statement on Form S-3, SEC Registration Nos. 333-62295, 333-62295-01 and 333-62295-02.

B-50
Certificate of Limited Partnership of Penelec Capital II, L.P., dated as of August 20, 1998- incorporated by reference to Exhibit 3-E, Registration Statement on Form S-3, SEC Registration Nos. 333-62295, 333-62295-01 and 333-62295-02.

B-51
Certificate of Business Trust Registration of Penelec Capital Trust, dated as of August 20, 1998- incorporated by reference to Exhibit 4-J, Registration Statement on Form S-3, SEC Registration Nos. 333-62295, 333-62295-01 and 333-62295-02.

B-52
Restated Articles of Incorporation of Penelec dated March 8, 1999 - incorporated by reference to Exhibit 3-G of Penelec's Annual Report on Form 10-K for the year 1999, File No. 1-3522.

B-53
Amended By-Laws of Penelec, dated as of May 16, 2000 - incorporated by reference to Exhibit 3-H of Penelec’s Annual Report on Form 10-K for the year 2000, File No. 1-3522.


GPU Capital & GPU Power

B-54
Certificate of Incorporation of EI Power, Inc., dated as of March 15, 1994 - incorporated by reference to Exhibit B-41 to GPU, Inc.'s Annual Report on Form U5S for the year 1994, File No. 30-126.

B-55
Certificate of Amendment of Certificate of Incorporation of EI Power, Inc., dated as of August 1, 1996 to change the name of the company to GPU Power, Inc. - incorporated by reference to Exhibit B-77 to GPU, Inc.'s Annual Report on Form U5S for the year 1996, Form No. 30-126.

B-56
Certificate of Incorporation of EI Energy, Inc., dated as of October 18, 1995 - incorporated by reference to Exhibit B-89 to GPU, Inc.'s Annual Report on Form U5S for the year 1995, File No. 30-126.

B-57
Certificate of Amendment of Certificate of Incorporation of EI Energy, Inc., dated as of August 1, 1996 to change the name of the company to GPU Electric, Inc. - incorporated by reference to Exhibit B-98 to GPU, Inc.'s Annual Report on Form U5S for the year 1996, File No. 30-126.



94

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits


GPU Capital & GPU Power

B-58
Certificate of Incorporation of EI UK Holdings, Inc., dated as of April 30, 1996 - incorporated by reference to Exhibit B-103 to GPU, Inc.'s Annual Report on Form U5S for the year 1996, File No. 30-126.

B-59
By-Laws of EI Power, Inc. (subsequently renamed GPU Power, Inc.), dated as of May 2, 1994 - incorporated by reference to Exhibit B-89 to GPU, Inc.'s Annual Report on Form U5S for the year 1994, File No. 30-126.

B-60
By-Laws of EI Energy, Inc. (subsequently renamed GPU Electric, Inc.), dated as of October 20, 1995 - incorporated by reference to Exhibit B-130 to GPU, Inc.'s Annual Report on Form U5S for the year 1995, File No. 30-126.

B-61
By-Laws of EI UK Holdings, Inc., adopted as of April 30, 1996 - incorporated by reference to Exhibit B-150 to GPU Inc.'s Annual Report on Form U5S for the year 1996, File No. 30-126.

B-62
Memorandum of Association of 2322120 Nova Scotia Limited, dated as of December 22, 1993 - incorporated by reference to Exhibit B-35 to GPU, Inc.'s Annual Report on Form U5S for the year 1994, File No. 30-126.

B-63
Certificate of Amendment of the Memorandum of Association of 2322120 Nova Scotia Limited, dated as of February 17, 1994 to change the name of the company to EI Services Canada Limited - incorporated by reference to Exhibit B-36 to GPU, Inc.'s Annual Report on Form U5S for the year 1994, File No. 30-126.

B-64
Memorandum of Association of 2322133 Nova Scotia Limited, dated as of December 22, 1993 - incorporated by reference to Exhibit B-31 to GPU, Inc.'s Annual Report on Form U5S for the year 1994, File No. 30-126.

B-65
Certificate of Amendment of the Memorandum of Association of 2322133 Nova Scotia Limited, dated as of February 17, 1994 to change the name of the company to EI Canada Holding Limited - incorporated by reference to Exhibit B-32 to GPU, Inc.'s Annual Report on Form U5S for the year 1994, File No. 30-126.

B-66
Articles of Association of 2322133 Nova Scotia Limited (subsequently renamed EI Canada Holding Limited), adopted as of December 22, 1993 - incorporated by reference to Exhibit B-83 to GPU, Inc.'s Annual Report on Form U5S for the year 1994, File No. 30-126.

B-67
Articles of Association of 2322120 Nova Scotia Limited (subsequently renamed EI Services Canada Limited), adopted as of December 22, 1993 - incorporated by reference to Exhibit B-85 to GPU, Inc.'s Annual Report on Form U5S for the year 1994, File No. 30-126.

B-68
Certificate of Incorporation of GPU Capital,Inc., dated October 8, 1998 - incorporated by reference to Exhibit B-198 to GPU, Inc.'s Annual Report on Form U5S for the year 1999, File No. 30-126.
 
B-69
By-Laws of GPU Capital, Inc. adopted as of October 8, 1998 - incorporated by reference to Exhibit B-199 to GPU, Inc.'s Annual Report on Form U5S for the  year 1999, File No. 30-126.
 
B-70
Certificate of Incorporation of GPU Solar, Inc., dated November 5, 1997 - incorporated by reference to Exhibit B-213 to GPU, Inc.'s Annual Report on Form U5S for the year 1999, File No. 30-126.


95

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

GPU Capital & GPU Power

B-71
By-Laws of GPU Solar, Inc., adopted as of November 5, 1997 - incorporated by reference to Exhibit B-214 to GPU, Inc.'s Annual Report on Form U5S for the year 1999, File No. 30-126.
 
B-72
Cerrtificate of Merger of GPU Solar, L.L.C. and GPU Solar, Inc., dated January 7, 1997 - incorporated by reference to Exhibit B-215 to GPU, Inc.'s Annual Report on Form U5S for the year 1999, File No. 30-126.
 
B-73
Articles of Association of GPU Argentina Services S.R.L., dated January 15, 1999 - incorporated by reference to Exhibit B-207 to GPU, Inc.’s Annual Report on Form U5S for the year 1999, File No. 30-126


MYR Group

B-74
Restated Certificate of Incorporation of The L.E. Myers Company as of April 29, 1982 - incorporated by reference to Exhibit B-168 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-75
By-Laws of the L.E. Myers Company as Amended and Restated on May 15, 1996 - incorporated by reference to Exhibit B-169 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-76
Certificate of Incorporation of MYRcom, Inc. dated April 20, 1999 - incorporated by reference to Exhibit B-170 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-77
By-Laws of MYRcom, Inc. dated as of April 20, 1999 - incorporated by reference to Exhibit B-173 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-78
Articles of Incorporation of Sturgeon Electric Company, Inc. dated August 20, 1974- incorporated by reference to Exhibit B-174 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-79
Certificate of Merger of Sturgeon Electric Company, Inc., a Colorado Corporation into Sturgeon Electric Company, Inc. a Michigan Corporation dated August 30, 1974 - incorporated by reference to Exhibit B-175 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-80
Agreement and Plan of Merger - Sturgeon Electric Company, Inc., a Colorado Corporation into Sturgeon Electric Company, Inc., a Michigan Corporation dated dated August 30, 1974 - incorporated by reference to Exhibit B-176 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-81
Certificate of Merger of Harsub, Inc. into Sturgeon Electric Company, Inc. dated September 26, 1974 - incorporated by reference to Exhibit B-177 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-82
Plan of Merger of Sturgeon Electric Company, Inc. and Harsub, Inc. dated September 4, 1974 - incorporated by reference to Exhibit B-178 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-83
By-Laws of Sturgeon Electric Company, Inc. as Amended and Restated on May 15, 1996 - incorporated by reference to Exhibit B-179 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.


96

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

MYR Group

B-84
Certificate of Incorporation of MYRpower, Inc. dated April 18, 2000 - incorporated by reference to Exhibit B-180 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-85
By-Laws of MYRpower, Inc. dated April 19, 2000 - incorporated by reference to Exhibit B-183 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-86
Articles of Incorporation of Harlan Electric Company dated December 26, 1940 - incorporated by reference to Exhibit B-184 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-87
By-Laws of Harlan Electric Company as Amended and Restated on May 15, 1996 - incorporated by reference to Exhibit B-185 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-88
Articles of Incorporation of ComTel Technology, Inc. dated March 23, 1983 - incorporated by reference to Exhibit B-186 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-89
By-Laws of ComTel Technology dated March 23, 1983 - incorporated by reference to Exhibit B-187 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-90
Articles of Incorporation of Power Piping Company dated October 31, 1963 - incorporated by reference to Exhibit B-188 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-91
By-Laws of Power Piping Company as Amended and Restated on May 15, 1996 - incorporated by reference to Exhibit B-189 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-92
Restated Certificate of Incorporation of MYR Group Inc. dated December 14, 1995 - incorporated by reference to Exhibit B-192 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-93
Certificate of Amendment of Amended and Restated Certificate of Incorporation of MYR Group Inc. dated May 23, 1996 - incorporated by reference to Exhibit B-193 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-94
Certificate of Amendment of Amended and Restated Certificate of Incorporation of MYR Group Inc. dated May 10, 1999 - incorporated by reference to Exhibit B-194 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-95
Certificate of Ownership and Merger Merging GPX Acquisition Corporation With and Into MYR Group Inc. dated April 26, 2000 - incorporated by reference to Exhibit B-195 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-96
Amended and Restated Certificate of Incorporation of MYR Group Inc. - incorporated by reference to Exhibit B-196 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-97
By-Laws of MYR Group Inc. - incorporated by reference to Exhibit B-197 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.



97

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

MYR Group

B-98
Articles of Amendment to the Articles of Incorporation of Alvarado-Martinez Construction Management Corporation (Great Southwestern Construction, Inc.) dated June 28, 1977 - incorporated by reference to Exhibit B-198 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-99
Articles of Incorporation of Alvarado-Martinez Construction Management Corporation (Great Southwestern Construction, Inc) dated June 15, 1977 - incorporated by reference to Exhibit B-199 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-100
Articles of Amendment to the Articles of Incorporation of Alvarado-Martinez Construction Management Corporation (Great Southwestern Construction, Inc.) dated November 13, 1980 - incorporated by reference to Exhibit B-200 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-101
By-Laws of the Alvarado-Martinez Construction Management Corporation (Great Southwestern Construction, Inc.) - incorporated by reference to Exhibit B-201 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-102
Articles of Incorporation of Hawkeye Construction, Inc. dated September 5, 1984 - incorporated by reference to Exhibit B-202 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.

B-103
By-Laws of Hawkeye Construction, Inc. dated September 5, 1984 - incorporated by reference to Exhibit B-203 to GPU, Inc.’s Annual Report on Form U5S for the year 2000, File No. 001-06047.


C.         Instruments Defining the Rights of Security Holders, including Identures, Outstanding and Uncompleted Contracts or Agreements
 
FirstEnergy

C-1
Rights Agreement, dated December 1, 1997 - incorporated by reference to Exhibit 4.1, Form 8-K.

C-2
FirstEnergy Corp. to The Bank of New York, Supplemental Indenture, dated November 7, 2001 - incorporated by reference to Exhibit 4-2 to FirstEnergy’s Annual Report on Form 10-K for 2001, File No. 333-21011.

C-3
FirstEnergy Corp. Executive and Director Incentive Compensation Plan, revised November 15, 1999 - incorporated by reference to Exhibit 10-1 to FirstEnergy’s Annual Report on Form 10-K for 1999, File No. 333-21011.

C-4
Amended FirstEnergy Corp. Deferred Compensation Plan for Directors, revised November 15, 1999 - incorporated by reference to Exhibit 10-2 to FirstEnergy’s Annual Report on Form 10-K for 1999, File No. 333-21011.

C-5
Employment, severance and change of control agreement between FirstEnergy Corp. and executive officers - incorporated by reference to Exhibit 10-3 to FirstEnergy’s Annual Report on Form 10-K for 1999, File No. 333-21011.

C-6
FirstEnergy Corp. Supplemental Executive Retirement Plan, amended January 1, 1999 - incorporated by reference to Exhibit 10-4 to FirstEnergy’s Annual Report on Form 10-K for 1999, File No. 333-21011.


98

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

FirstEnergy

C-7
FirstEnergy Corp. Executive Incentive Compensation Plan -incorporated by reference to Exhibit 10-5 to FirstEnergy’s Annual Report on Form 10-K for 1999, File No. 333-21011.

C-8
Restricted stock agreement between FirstEnergy Corp. and A. J. Alexander - incorporated by reference to Exhibit 10-6 to FirstEnergy’s Annual Report on Form 10-K for 1999, File No. 333-21011.

C-9
FirstEnergy Corp. Executive and Director Incentive Compensation Plan - incorporated by reference to Exhibit 10-1 to FirstEnergy’s Annual Report on Form 10-K for 1998, File No. 333-21011.

C-10
Amended FirstEnergy Corp. Deferred Compensation Plan for Directors, amended February 15, 1999 - incorporated by reference to Exhibit 10-2 to FirstEnergy’s Annual Report on Form 10-K for 1998, File No. 333-21011.

C-11
Restricted stock agreement between FirstEnergy Corp. and A. J. Alexander - incorporated by reference to Exhibit 10-9 to FirstEnergy’s Annual Report on Form 10-K for 2000, File No. 333-21011.

C-12
Restricted stock agreement between FirstEnergy Corp. and H. P. Burg - incorporated by reference to Exhibit 10-10 to FirstEnergy’s Annual Report on Form 10-K for 2000, File No. 333-21011.

C-13
Stock option agreement between FirstEnergy Corp. and officers dated November 22, 2000 - incorporated by reference to Exhibit 10-11 to FirstEnergy’s Annual Report on Form 10-K for 2000, File No. 333-21011.

C-14
Stock option agreement between FirstEnergy Corp. and officers dated March 1, 2000 - incorporated by reference to Exhibit 10-12 to FirstEnergy’s Annual Report on Form 10-K for 2000, File No. 333-21011.

C-15
Stock option agreement between FirstEnergy Corp. and director dated January 1, 2000 - incorporated by reference to Exhibit 10-13 to FirstEnergy’s Annual Report on Form 10-K for 2000, File No. 333-21011.

C-16
Stock option agreement between FirstEnergy Corp. and two directors dated January 1, 2001 - incorporated by reference to Exhibit 10-14 to FirstEnergy’s Annual Report on Form 10-K for 2000, File No. 333-21011.

C-17
Executive and Director Incentive Compensation Plan dated May 15, 2001 - incorporated by reference to Exhibit 10-15 to FirstEnergy’s Annual Report on Form 10-K for 2001, File No. 333-21011.

C-18
Amended FirstEnergy Corp. Deferred Compensation Plan for Directors, revised September 18, 2000 - incorporated by reference to Exhibit 10-16 to FirstEnergy’s Annual Report on Form 10-K for 2001, File No. 333-21011.

C-19
Stock Option Agreements between FirstEnergy Corp. and Officers dated May 16, 2001 - incorporated by reference to Exhibit 10-17 to FirstEnergy’s Annual Report on Form 10-K for 2001, File No. 333-21011.

C-20
Restricted Stock Agreements between FirstEnergy Corp. and Officers dated February 20, 2002 - incorporated by reference to Exhibit 10-18 to FirstEnergy’s Annual Report on Form 10-K for 2001, File No. 333-21011.



99

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

FirstEnergy

C-21
Stock Option Agreements between FirstEnergy Corp. and One Director dated January 1, 2002 - incorporated by reference to Exhibit 10-19 to FirstEnergy’s Annual Report on Form 10-K for 2001, File No. 333-21011.

C-22
FirstEnergy Corp. Executive Deferred Compensation Plan - incorporated by reference to Exhibit 10-20 to FirstEnergy’s Annual Report on Form 10-K for 2001, File No. 333-21011.

C-23
Executive Incentive Compensation Plan-Tier 2 - incorporated by reference to Exhibit 10-21 to FirstEnergy’s Annual Report on Form 10-K for 2001, File No. 333-21011.

C-24
Executive Incentive Compensation Plan-Tier 3 - incorporated by reference to Exhibit 10-22 to FirstEnergy’s Annual Report on Form 10-K for 2001, File No. 333-21011.

C-25
Executive Incentive Compensation Plan-Tier 4 - incorporated by reference to Exhibit 10-23 to FirstEnergy’s Annual Report on Form 10-K for 2001, File No. 333-21011.

C-26
Executive Incentive Compensation Plan-Tier 5 - incorporated by reference to Exhibit 10-24 to FirstEnergy’s Annual Report on Form 10-K for 2001, File No. 333-21011.

C-27
Executive and Director Stock Option Agreement dated June 11, 2002 - incorporated by reference to Exhibit 10-28 to FirstEnergy’s Annual Report on Form 10-K for 2002, File No. 333-21011.

C-28
Director Stock Option Agreement - incorporated by reference to Exhibit 10-29 to FirstEnergy’s Annual Report on Form 10-K for 2002, File No. 333-21011.

C-29
Executive and Director Incentive Compensation Plan, Amendment dated May 21, 2002 - incorporated by reference to Exhibit 10-30 to FirstEnergy’s Annual Report on Form 10-K for 2002, File No. 333-21011.

C-30
Directors Deferred Compensation Plan, Revised November 19, 2002 - incorporated by reference to Exhibit 10-31 to FirstEnergy’s Annual Report on Form 10-K for 2002, File No. 333-21011.

C-31
Executive Incentive Compensation Plan 2002 - incorporated by reference to Exhibit 10-32 to FirstEnergy’s Annual Report on Form 10-K for 2002, File No. 333-21011.

C-32
Form of 1998 Stock Option Agreement under the 1990 Stock Plan for Employees of GPU, Inc. and Subsidiaries - incorporated by reference to GPU, Inc.'s Annual Report on Form 10-K, Exhibit 10-Q, for the year 1998, File No. 1-6047.

C-33
Severance Protection Agreement for Carole B. Snyder, dated November 30, 1998 - incorporated by reference to Exhibit C-27 to GPU, Inc.'s Annual Report on Form U5S for the year 1999, File No. 30-126.

C-34
GPU, Inc. 1990 Stock Plan for Employees of GPU, Inc. and Subsidiaries as amended and restated to reflect amendments through June 3, 1999 - incorporated by reference to Exhibit 10-V of GPU, Inc.'s Annual Report on Form 10-K for the year 1999, File No. 1-6047.

C-35
Form of 1999 Stock Option Agreement under the 1990 Stock Plan for Employees of GPU, Inc. and Subsidiaries - incorporated by reference to Exhibit 10-W of GPU, Inc.'s Annual Report on Form 10-K for the year 1999, File No. 1-6047.


100

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

FirstEnergy

C-36
Forms of Estate Enhancement Program Agreements - incorporated by reference to Exhibit 10-JJ of GPU, Inc.'s Annual Report on Form 10-K for the year 1999, File No. 1-6047.

C-37
Amended and restated Retirement Plan for Outside Directors of GPU, Inc. dated as of August 8, 2000 - incorporated by reference to Exhibit 10-N on GPU, Inc.’s Annual Report on Form 10-K for the year 2000, File No. 1-6047.

C-38
Amended and restated Deferred Remuneration Plan for GPU, Inc.’s Outside Directors dated as of August 8, 2000 - incorporated by reference to Exhibit 10-O on GPU, Inc.’s Annual Report on Form 10-K for the year 2000, File No. 1-6047.

C-39
Amendment to GPU, Inc. 1990 Stock Plan dated as of April 5, 2001 - incorporated by reference to Exhibit C-41 to GPU Inc.’s Annual Report on Form U5S for the year 2000, File No. 1-6047.

C-40
GPU, Inc. Stock Option and Restricted Stock Plan for MYR Group Inc. Employees amended as of April 5, 2001 - incorporated by reference to Exhibit C-43 to GPU Inc.’s Annual Report on Form U5S for the year 2000, File No. 1-6047.

C-41
Amendment to the Severance Protection Agreement for Carole B. Snyder, dated August 8, 2000.

C-42
Amendment to the Special Severance Protection Agreement for Carole B. Snyder, dated November 7, 2001.

C-43
Special Severance Protection Agreement for Carole B. Snyder, dated October 13, 2001.

C-44
Amendment to the Severance Protection Agreement for Carole B. Snyder, dated July 29, 2003.

C-45
Form of Amendment, effective November 7, 2001, to GPU, Inc. 1990 Stock Plan for Employees of GPU, Inc. and Subsidiaries, Deferred Remuneration Plan for Outside Directors of GPU, Inc., and Retirement Plan for Outside Directors of GPU, Inc. (2001 Form 10-K, Exhibit 10-26).

C-46
Executive and Director Stock Option Agreement dated June 11, 2002. (2002 Form 10-K, Exhibit 10-28).

C-47
$1Billion Three-Year Credit Agreement dated as of June 22, 2004 among FirstEnergy Corp., the Banks named therein, Citicorp USA, Inc., as Administrative and Fronting Bank and Barclays Bank PLC as Fronting Bank. (2004 Form 10-K, Exhibit 10-1)

C-48
$375,000,000 Three-Year Credit Agreement dated as of October 23, 2003 among FirstEnergy Corp., the Banks named therein, Citibank, N.A., as Administrative Agent and Bank One, NA, as Fronting Bank. (2004 Form 10-K, Exhibit 10-2)

C-49
Deferred Compensation Plan for Outside Directors, effective November 7, 2001, incorporated by reference to Exhibit 4(f), Form S-8, File No. 333-101472.



101

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

FirstEnergy

C-50
Employment Agreement between FirstEnergy and an officer dated July 20, 2004, (September 30, 2004 Form 10-Q, Exhibit 10-41).

C-51
Stock Option Agreement between FirstEnergy and an officer dated August 20, 2004. (September 30, 2004 Form 10-Q, Exhibit 10-42).

C-52
Restricted Stock Agreement between FirstEnergy and an officer dated August 20, 2004. (September 30, 2004 Form 10-Q, Exhibit 10-43).

C-53
Executive Bonus Plan between FirstEnergy and Officers dated October 31, 2004. (September 30, 2004 Form 10-Q, Exhibit 10-44).

C-54
Form of Employment, Severance, and Change of Control Agreement, between FirstEnergy and A. J. Alexander. (2004 Form 10-K, Exhibit 10-12)

C-55
Form of Employment, Severance, and Change of Control Agreement, Tier 1, between FirstEnergy and the following executive officers: C.B. Snyder, L.L. Vespoli, and R.H. Marsh (effective January 1, 2006). (2004 Form 10-K, Exhibit 10-13)

C-56
Form of Employment, Severance, and Change of Control Agreement, Tier 1, between FirstEnergy and the following executive officers: L.M. Cavalier, M.T. Clark, and R.R. Grigg. (2004 Form 10-K, Exhibit 10-14)

C-57
Form of Employment, Severance, and Change of Control Agreement, Tier 2, between FirstEnergy and the following executive officers: K.J. Keough and K.W. Dindo (effective January 1, 2006). (2004 Form 10-K, Exhibit 10-15)

C-58
Form of Employment, Severance, and Change of Control Agreement, Tier 2, between FirstEnergy and G. L. Pipitone. (2004 Form 10-K, Exhibit 10-16)

C-59
Executive and Director Incentive Compensation Plan, Amendment dated January 18, 2005. (2004 Form 10-K, Exhibit 10-3)

C-60
Form of Restricted Stock Agreements, between FirstEnergy and Officers. (2004 Form 10-K, Exhibit 10-5)

C-61
Form of Restricted Stock Unit Agreements (Performance Adjusted), between FirstEnergy and Officers. (2004 Form 10-K, Exhibit 10-4)

C-62
Form of Restricted Stock Agreement, between FirstEnergy and an officer. (2004 Form 10-K, Exhibit 10-6)



102

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

OE

C-63
Indenture dated as of August 1, 1930 between OE and Bankers Trust Company, (now the Bank of New York), as Trustee, as amended and supplemented by Supplemental Indentures:


Dated as of
 
File Reference
 
Exhibit No.
March 3, 1931
 
Form 10-K, 2-1725
 
B1,B-1(a),B-1(b)
November 1, 1935
 
Form 10-K, 2-2721
 
B-4
January 1, 1937
 
Form 10-K, 2-3402
 
B-5
September 1, 1937
 
Form 8-A
 
B-6
June 13, 1939
 
Form 10-K, 2-5462
 
7(a)-7
August 1, 1974
 
Form 8-A, August 28, 1974
 
2(b)
July 1, 1976
 
Form 8-A, July 28, 1976
 
2(b)
December 1, 1976
 
Form 8-A, December 15, 1976
 
2(b)
June 15, 1977
 
Form 8-A, June 27, 1977
 
2(b)
Supplemental Indentures:
       
September 1, 1944
 
Form 10-K, 2-61146
 
2(b)(2)
April 1, 1945
 
Form 10-K, 2-61146
 
2(b)(2)
September 1, 1948
 
Form 10-K, 2-61146
 
2(b)(2)
May 1, 1950
 
Form 10-K, 2-61146
 
2(b)(2)
January 1, 1954
 
Form 10-K, 2-61146
 
2(b)(2)
May 1, 1955
 
Form 10-K, 2-61146
 
2(b)(2)
August 1, 1956
 
Form 10-K, 2-61146
 
2(b)(2)
March 1, 1958
 
Form 10-K, 2-61146
 
2(b)(2)
April 1, 1959
 
Form 10-K, 2-61146
 
2(b)(2)
June 1, 1961
 
Form 10-K, 2-61146
 
2(b)(2)
September 1, 1969
 
Form 10-K, 2-34351
 
2(b)(2)
May 1, 1970
 
Form 10-K, 2-37146
 
2(b)(2)
September 1, 1970
 
Form 10-K, 2-38172
 
2(b)(2)
June 1, 1971
 
Form 10-K, 2-40379
 
2(b)(2)
August 1, 1972
 
Form 10-K, 2-44803
 
2(b)(2)
September 1, 1973
 
Form 10-K, 2-48867
 
2(b)(2)
May 15, 1978
 
Form 10-K, 2-66957
 
2(b)(4)
February 1, 1980
 
Form 10-K, 2-66957
 
2(b)(5)
April 15, 1980
 
Form 10-K, 2-66957
 
2(b)(6)
June 15, 1980
 
Form 10-K, 2-68023
 
(b)(4)(b)(5)
October 1, 1981
 
Form 10-K, 2-74059
 
(4)(d)
October 15, 1981
 
Form 10-K, 2-75917
 
(4)(e)
February 15, 1982
 
Form 10-K, 2-75917
 
(4)(e)
July 1, 1982
 
Form 10-K, 2-89360
 
(4)(d)
March 1, 1983
 
Form 10-K, 2-89360
 
(4)(e)
March 1, 1984
 
Form 10-K, 2-89360
 
(4)(f)
September 15, 1984
 
Form 10-K, 2-92918
 
(4)(d)
September 27, 1984
 
Form 10-K, 33-2576
 
(4)(d)
November 8, 1984
 
Form 10-K, 33-2576
 
(4)(d)
December 1, 1984
 
Form 10-K, 33-2576
 
(4)(d)
December 5, 1984
 
Form 10-K, 33-2576
 
(4)(e)
January 30, 1985
 
Form 10-K, 33-2576
 
(4)(e)
February 25, 1985
 
Form 10-K, 33-2576
 
(4)(e)


103

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

OE
 
Dated as of
 
File Reference
 
Exhibit No.
Supplemental Indentures:
       
July 1, 1985
 
Form 10-K, 33-2576
 
(4)(e)
October 1, 1985
 
Form 10-K, 33-2576
 
(4)(e)
January 15, 1986
 
Form 10-K, 33-8791
 
(4)(d)
May 20, 1986
 
Form 10-K, 33-8791
 
(4)(d)
June 3, 1986
 
Form 10-K, 33-8791
 
(4)(e)
October 1, 1986
 
Form 10-K, 33-29827
 
(4)(d)
August 25, 1989
 
Form 10-K, 33-34663
 
(4)(d)
February 15, 1991
 
Form 10-K, 33-39713
 
(4)(d)
May 1, 1991
 
Form 10-K, 33-45751
 
(4)(d)
May 15, 1991
 
Form 10-K, 33-45751
 
(4)(d)
September 15, 1991
 
Form 10-K, 33-45751
 
(4)(d)
April 1, 1992
 
Form 10-K, 33-48931
 
(4)(d)
June 15, 1992
 
Form 10-K, 33-48931
 
(4)(d)
September 15, 1992
 
Form 10-K, 33-48931
 
(4)(e)
April 1, 1993
 
Form 10-K, 33-51139
 
(4)(d)
June 15, 1993
 
Form 10-K, 33-51139
 
(4)(d)
September 15, 1993
 
Form 10-K, 33-51139
 
(4)(d)
November 15, 1993
 
Form 10-K, 1-2578
 
(4)(2)
April 1, 1995
 
Form 10-K, 1-2578
 
(4)(2)
May 1, 1995
 
Form 10-K, 1-2578
 
(4)(2)
July 1, 1995
 
Form 10-K, 1-2578
 
(4)(2)
June 1, 1997
 
Form 10-K, 1-2578
 
(4)(2)
April 1, 1998
 
Form 10-K, 1-2578
 
(4)(2)
June 1, 1998
 
Form 10-K, 1-2578
 
(4)(2)
September 29, 1999
 
Form 10-K, 1-2578
 
(4)(2)
April 1, 2000
 
Form 10-K, 1-2578
 
(4)(2)(a)
April 1, 2000
 
Form 10-K, 1-2578
 
(4)(2)(b)
June 1, 2001
 
2003 Form 10-K, 1-2578
   
February 1, 2003
 
2003 Form 10-K, 1-2578
 
(4)(2)
March 1, 2003
 
2003 Form 10-K, 1-2578
 
(4)(2)
August 1, 2003
 
2003 Form 10-K, 1-2578
 
(4)(2)

C-64
General Mortgage Indenture and Deed of Trust dated as of January 1, 1998 between OE and the Bank of New York, as Trustee. (Registration No. 333-05277, Exhibit 4(g).)

C-65
Indenture dated as of April 1, 2003 between OE and The Bank of New York, as Trustee, incorporated by reference to Exhibit 4-3 on FirstEnergy Annual Report on Form 10-K, for the year 2003, File No. 1-2578.

C-66
Ohio Edison System Executive Supplemental Life Insurance Plan. (1995 Form 10-K, Exhibit 10-44.)
 
June 1, 2003
 
2004 Form 10-K, 1-2578
 
(4)(2)
June 1, 2003
 
2004 Form 10-K, 1-2578
 
(4)(2)
December 1, 2003
 
2004 Form 10-K, 1-2578
 
(4)(2)


104

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

OE

C-67
Ohio Edison System Executive Incentive Compensation Plan. (1995 Form 10-K, Exhibit 10-45.)

C-68
Ohio Edison System Restated and Amended Executive Deferred Compensation Plan. (1995 Form 10-K, Exhibit 10-46.)

C-69
Ohio Edison System Restated and Amended Supplemental Executive Retirement Plan. (1995 Form 10-K, Exhibit 10-47.)

C-70
Severance pay agreement between Ohio Edison Company and A. J. Alexander. (1995 Form 10-K, Exhibit 10-50.)

C-71
Participation Agreement dated as of March 16, 1987 among Perry One Alpha Limited Partnership, as Owner Participant, the Original Loan Participants listed in Schedule 1 Hereto, as Original Loan Participants, PNPP Funding Corporation, as Funding Corporation, The First National Bank of Boston, as Owner Trustee, Irving Trust Company, as Indenture Trustee and Ohio Edison Company, as Lessee. (1986 Form 10-K, Exhibit 28-1.)

C-72
Amendment No. 1 dated as of September 1, 1987 to Participation Agreement dated as of March 16, 1987 among Perry One Alpha Limited Partnership, as Owner Participant, the Original Loan Participants listed in Schedule 1 thereto, as Original Loan Participants, PNPP Funding Corporation, as Funding Corporation, The First National Bank of Boston, as Owner Trustee, Irving Trust Company (now The Bank of New York), as Indenture Trustee, and Ohio Edison Company, as Lessee. (1991 Form 10-K, Exhibit 10-46.)

C-73
Amendment No. 3 dated as of May 16, 1988 to Participation Agreement dated as of March 16, 1987, as amended among Perry One Alpha Limited Partnership, as Owner Participant, PNPP Funding Corporation, The First National Bank of Boston, as Owner Trustee, Irving Trust Company, as Indenture Trustee, and Ohio Edison Company, as Lessee. (1992 Form 10-K, Exhibit 10-47.)

C-74
Amendment No. 4 dated as of November 1, 1991 to Participation Agreement dated as of March 16, 1987 among Perry One Alpha Limited Partnership, as Owner Participant, PNPP Funding Corporation, as Funding Corporation, PNPP II Funding Corporation, as New Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee and Ohio Edison Company, as Lessee. (1991 Form 10-K, Exhibit 10-47.)

C-75
Amendment No. 5 dated as of November 24, 1992 to Participation Agreement dated as of March 16, 1987, as amended, among Perry One Alpha Limited Partnership, as Owner Participant, PNPP Funding Corporation, as Funding Corporation, PNPP II Funding Corporation, as New Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee and Ohio Edison Company as Lessee. (1992 Form 10-K, Exhibit 10-49.)

C-76
Amendment No. 6 dated as of January 12, 1993 to Participation Agreement dated as of March 16, 1987 among Perry One Alpha Limited Partnership, as Owner Participant, PNPP Funding Corporation, as Funding Corporation, PNPP II Funding Corporation, as New Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee and Ohio Edison Company, as Lessee. (1992 Form 10-K, Exhibit 10-50.)


105

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

OE

C-77
Amendment No. 7 dated as of October 12, 1994 to Participation Agreement dated as of March 16, 1987 as amended, among Perry One Alpha Limited Partnership, as Owner Participant, PNPP Funding Corporation, as Funding Corporation, PNPP II Funding Corporation, as New Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-54.)

C-78
Facility Lease dated as of March 16, 1987 between The First National Bank of Boston, as Owner Trustee, with Perry One Alpha Limited Partnership, Lessor, and Ohio Edison Company, Lessee. (1986 Form 10-K, Exhibit 28-2.)

C-79
Amendment No. 1 dated as of September 1, 1987 to Facility Lease dated as of March 16, 1997 between The First National Bank of Boston, as Owner Trustee, Lessor and Ohio Edison Company, Lessee. (1991 Form 10-K, Exhibit 10-49.)

C-80
Amendment No. 2 dated as of November 1, 1991, to Facility Lease dated as of March 16, 1987, between The First National Bank of Boston, as Owner Trustee, Lessor and Ohio Edison Company, Lessee. (1991 Form 10-K, Exhibit 10-50.)

C-81
Amendment No. 3 dated as of November 24, 1992 to Facility Lease dated as March 16, 1987 as amended, between The First National Bank of Boston, as Owner Trustee, with Perry One Alpha Limited partnership, as Owner Participant and Ohio Edison Company, as Lessee. (1992 Form 10-K, Exhibit 10-54.)

C-82
Amendment No. 4 dated as of January 12, 1993 to Facility Lease dated as of March 16, 1987 as amended, between, The First National Bank of Boston, as Owner Trustee, with Perry One Alpha Limited Partnership, as Owner Participant, and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-59.)

C-83
(Amendment No. 5 dated as of October 12, 1994 to Facility Lease dated as of March 16, 1987 as amended, between, The First National Bank of Boston, as Owner Trustee, with Perry One Alpha Limited Partnership, as Owner Participant, and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-60.)

C-84
Letter Agreement dated as of March 19, 1987 between Ohio Edison Company, Lessee, and The First National Bank of Boston, Owner Trustee under a Trust dated March 16, 1987 with Chase Manhattan Realty Leasing Corporation, required by Section 3(d) of the Facility Lease. (1986 Form 10-K, Exhibit 28-3.)

C-85
Ground Lease dated as of March 16, 1987 between Ohio Edison Company, Ground Lessor, and The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of March 16, 1987, with the Owner Participant, Tenant. (1986 Form 10-K, Exhibit 28-4.)

C-86
Trust Agreement dated as of March 16, 1987 between Perry One Alpha Limited Partnership, as Owner Participant, and The First National Bank of Boston. (1986 Form 10-K, Exhibit 28-5.)

C-87
Trust Indenture, Mortgage, Security Agreement and Assignment of Facility Lease dated as of March 16, 1987 between The First National Bank of Boston, as Owner Trustee under a Trust Agreement dated as of March 16, 1987 with Perry One Alpha Limited Partnership, and Irving Trust Company, as Indenture Trustee. (1986 Form 10-K, Exhibit 28-6.)



106

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

OE

C-88
Supplemental Indenture No. 1 dated as of September 1, 1987 to Trust Indenture, Mortgage, Security Agreement and Assignment of Facility Lease dated as of March 16, 1987 between The First National Bank of Boston as Owner Trustee and Irving Trust Company (now The Bank of New York), as Indenture Trustee. (1991 Form 10-K, Exhibit 10-55.)

C-89
Supplemental Indenture No. 2 dated as of November 1, 1991 to Trust Indenture, Mortgage, Security Agreement and Assignment of Facility Lease dated as of March 16, 1987 between The First National Bank of Boston, as Owner Trustee and The Bank of New York, as Indenture Trustee. (1991 Form 10-K, Exhibit 10-56.)

C-90
Tax Indemnification Agreement dated as of March 16, 1987 between Perry One, Inc. and PARock Limited Partnership as General Partners and Ohio Edison Company, as Lessee. (1986 Form 10-K, Exhibit 28-7.)

C-91
Amendment No. 1 dated as of November 1, 1991 to Tax Indemnification Agreement dated as of March 16, 1987 between Perry One, Inc. and PARock Limited Partnership and Ohio Edison Company. (1991 Form 10-K, Exhibit 10-58.)

C-92
Amendment No. 2 dated as of January 12, 1993 to Tax Indemnification Agreement dated as of March 16, 1987 between Perry One, Inc. and PARock Limited Partnership and Ohio Edison Company. (1994 Form 10-K, Exhibit 10-69.)

C-93
Amendment No. 3 dated as of October 12, 1994 to Tax Indemnification Agreement dated as of March 16, 1987 between Perry One, Inc. and PARock Limited Partnership and Ohio Edison Company. (1994 Form 10-K, Exhibit 10-70.)

C-94
Partial Mortgage Release dated as of March 19, 1987 under the Indenture between Ohio Edison Company and Bankers Trust Company, as Trustee, dated as of the 1st day of August 1930. (1986 Form 10-K, Exhibit 28-8.)

C-95
Assignment, Assumption and Further Agreement dated as of March 16, 1987 among The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of March 16, 1987, with Perry One Alpha Limited Partnership, The Cleveland Electric Illuminating Company, Duquesne Light Company, Ohio Edison Company, Pennsylvania Power Company and Toledo Edison Company. (1986 Form 10-K, Exhibit 28-9.)

C-96
Additional Support Agreement dated as of March 16, 1987 between The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of March 16, 1987, with Perry One Alpha Limited Partnership, and Ohio Edison Company. (1986 Form 10-K, Exhibit 28-10.)

C-97
Bill of Sale, Instrument of Transfer and Severance Agreement dated as of March 19, 1987 between Ohio Edison Company, Seller, and The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of March 16, 1987, with Perry One Alpha Limited Partnership. (1986 Form 10-K, Exhibit 28-11.)

C-98
Easement dated as of March 16, 1987 from Ohio Edison Company, Grantor, to The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of March 16, 1987, with Perry One Alpha Limited Partnership, Grantee. (1986 Form 10-K, File Exhibit 28-12.)

107

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

OE

C-99
Participation Agreement dated as of March 16, 1987 among Security Pacific Capital Leasing Corporation, as Owner Participant, the Original Loan Participants listed in Schedule 1 Hereto, as Original Loan Participants, PNPP Funding Corporation, as Funding Corporation, The First National Bank of Boston, as Owner Trustee, Irving Trust Company, as Indenture Trustee and Ohio Edison Company, as Lessee. (1986 Form 10-K, as Exhibit 28-13.)

C-100
Amendment No. 1 dated as of September 1, 1987 to Participation Agreement dated as of March 16, 1987 among Security Pacific Capital Leasing Corporation, as Owner Participant, The Original Loan Participants Listed in Schedule 1 thereto, as Original Loan Participants, PNPP Funding Corporation, as Funding Corporation, The First National Bank of Boston, as Owner Trustee, Irving Trust Company, as Indenture Trustee and Ohio Edison Company, as Lessee. (1991 Form 10-K, Exhibit 10-65.)

C-101
Amendment No. 4 dated as of November 1, 1991, to Participation Agreement dated as of March 16, 1987 among Security Pacific Capital Leasing Corporation, as Owner Participant, PNPP Funding Corporation, as Funding Corporation, PNPP II Funding Corporation, as New Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee and Ohio Edison Company, as Lessee. (1991 Form 10-K, Exhibit 10-66.)

C-102
Amendment No. 5 dated as of November 24, 1992 to Participation Agreement dated as of March 16, 1987 as amended among Security Pacific Capital Leasing Corporation, as Owner Participant, PNPP Funding Corporation, as Funding Corporation, PNNP II Funding Corporation, as New Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee and Ohio Edison Company, as Lessee. (1992 Form 10-K, Exhibit 10-71.)

C-103
Amendment No. 6 dated as of January 12, 1993 to Participation Agreement dated as of March 16, 1987 as amended among Security Pacific Capital Leasing Corporation, as Owner Participant, PNPP Funding Corporation, as Funding Corporation, PNPP II Funding Corporation, as New Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-80.)

C-104
Amendment No. 7 dated as of October 12, 1994 to Participation Agreement dated as of March 16, 1987 as amended among Security Pacific Capital Leasing Corporation, as Owner Participant, PNPP Funding Corporation, as Funding Corporation, PNPP II Funding Corporation, as New Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-81.)

C-105
Facility Lease dated as of March 16, 1987 between The First National Bank of Boston, as Owner Trustee, with Security Pacific Capital Leasing Corporation, Lessor, and Ohio Edison Company, as Lessee. (1986 Form 10-K, Exhibit 28-14.)

C-106
Amendment No. 1 dated as of September 1, 1987 to Facility Lease dated as of March 16, 1987 between The First National Bank of Boston as Owner Trustee, Lessor and Ohio Edison Company, Lessee. (1991 Form 10-K, Exhibit 10-68.)

C-107
Amendment No. 2 dated as of November 1, 1991 to Facility Lease dated as of March 16, 1987 between The First National Bank of Boston as Owner Trustee, Lessor and Ohio Edison Company, Lessee. (1991 Form 10-K, Exhibit 10-69.)



108

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

OE

C-108
Amendment No. 3 dated as of November 24, 1992 to Facility Lease dated as of March 16, 1987, as amended, between, The First National Bank of Boston, as Owner Trustee, with Security Pacific Capital Leasing Corporation, as Owner Participant and Ohio Edison Company, as Lessee. (1992 Form 10-K, Exhibit 10-75.)

C-109
Amendment No. 4 dated as of January 12, 1993 to Facility Lease dated as of March 16, 1987 as amended between, The First National Bank of Boston, as Owner Trustee, with Security Pacific Capital Leasing Corporation, as Owner Participant, and Ohio Edison Company, as Lessee. (1992 Form 10-K, Exhibit 10-76.)

C-110
Amendment No. 5 dated as of October 12, 1994 to Facility Lease dated as of March 16, 1987 as amended between, The First National Bank of Boston, as Owner Trustee, with Security Pacific Capital Leasing Corporation, as Owner Participant, and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-87.)

C-111
Letter Agreement dated as of March 19, 1987 between Ohio Edison Company, as Lessee, and The First National Bank of Boston, as Owner Trustee under a Trust, dated as of March 16, 1987, with Security Pacific Capital Leasing Corporation, required by Section 3(d) of the Facility Lease. (1986 Form 10-K, Exhibit 28-15.)

C-112
Ground Lease dated as of March 16, 1987 between Ohio Edison Company, Ground Lessor, and The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of March 16, 1987, with Perry One Alpha Limited Partnership, Tenant. (1986 Form 10-K, Exhibit 28-16.)

C-113
Trust Agreement dated as of March 16, 1987 between Security Pacific Capital Leasing Corporation, as Owner Participant, and The First National Bank of Boston. (1986 Form 10-K, Exhibit 28-17.)

C-114
Trust Indenture, Mortgage, Security Agreement and Assignment of Facility Lease dated as of March 16, 1987 between The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of March 16, 1987, with Security Pacific Capital Leasing Corporation, and Irving Trust Company, as Indenture Trustee. (1986 Form 10-K, Exhibit 28-18.)

C-115
Supplemental Indenture No. 1 dated as of September 1, 1987 to Trust Indenture, Mortgage, Security Agreement and Assignment of Facility Lease dated as of March 16, 1987 between The First National Bank of Boston, as Owner Trustee and Irving Trust Company (now The Bank of New York), as Indenture Trustee. (1991 Form 10-K, Exhibit 10-74.)

C-116
Supplemental Indenture No. 2 dated as of November 1, 1991 to Trust Indenture, Mortgage, Security Agreement and Assignment of Facility Lease dated as of March 16, 1987 between The First National Bank of Boston, as Owner Trustee and The Bank of New York, as Indenture Trustee. (1991 Form 10-K, Exhibit 10-75.)

C-117
Tax Indemnification Agreement dated as of March 16, 1987 between Security Pacific Capital Leasing Corporation, as Owner Participant, and Ohio Edison Company, as Lessee. (1986 Form 10-K, Exhibit 28-19.)



109

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

OE

C-118
Amendment No. 1 dated as of November 1, 1991 to Tax Indemnification Agreement dated as of March 16, 1987 between Security Pacific Capital Leasing Corporation and Ohio Edison Company. (1991 Form 10-K, Exhibit 10-77.)

C-119
Amendment No. 2 dated as of January 12, 1993 to Tax Indemnification Agreement dated as of March 16, 1987 between Security Pacific Capital Leasing Corporation and Ohio Edison Company. (1994 Form 10-K, Exhibit 10-96.)

C-120
Amendment No. 3 dated as of October 12, 1994 to Tax Indemnification Agreement dated as of March 16, 1987 between Security Pacific Capital Leasing Corporation and Ohio Edison Company. (1994 Form 10-K, Exhibit 10-97.)

C-121
Assignment, Assumption and Further Agreement dated as of March 16, 1987 among The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of March 16, 1987, with Security Pacific Capital Leasing Corporation, The Cleveland Electric Illuminating Company, Duquesne Light Company, Ohio Edison Company, Pennsylvania Power Company and Toledo Edison Company. (1986 Form 10-K, Exhibit 28-20.)

C-122
Additional Support Agreement dated as of March 16, 1987 between The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of March 16, 1987, with Security Pacific Capital Leasing Corporation, and Ohio Edison Company. (1986 Form 10-K, Exhibit 28-21.)

C-123
Bill of Sale, Instrument of Transfer and Severance Agreement dated as of March 19, 1987 between Ohio Edison Company, Seller, and The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of March 16, 1987, with Security Pacific Capital Leasing Corporation, Buyer. (1986 Form 10-K, Exhibit 28-22.)

C-124
Easement dated as of March 16, 1987 from Ohio Edison Company, Grantor, to The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of March 16, 1987, with Security Pacific Capital Leasing Corporation, Grantee. (1986 Form 10-K, Exhibit 28-23.)

C-125
Refinancing Agreement dated as of November 1, 1991 among Perry One Alpha Limited Partnership, as Owner Participant, PNPP Funding Corporation, as Funding Corporation, PNPP II Funding Corporation, as New Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee, The Bank of New York, as Collateral Trust Trustee, The Bank of New York, as New Collateral Trust Trustee and Ohio Edison Company, as Lessee. (1991 Form 10-K, Exhibit 10-82.)

C-126
Refinancing Agreement dated as of November 1, 1991 among Security Pacific Leasing Corporation, as Owner Participant, PNPP Funding Corporation, as Funding Corporation, PNPP II Funding Corporation, as New Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee, The Bank of New York, as Collateral Trust Trustee, The Bank of New York as New Collateral Trust Trustee and Ohio Edison Company, as Lessee. (1991 Form 10-K, Exhibit 10-83.)

C-127
Receivables Purchase Agreement dated as November 28, 1989, as amended and restated as of April 23, 1993, between OES Capital, Incorporated, Corporate Asset Funding Company, Inc. and Citicorp North America, Inc. (1994 Form 10-K, Exhibit 10-106.)



110

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

OE

C-128
Guarantee Agreement entered into by Ohio Edison Company dated as of January 17, 1991. (1990 Form 10-K, Exhibit 10-64.)

C-129
Transfer and Assignment Agreement among Ohio Edison Company and Chemical Bank, as trustee under the OE Power Contract Trust. (1990 Form 10-K, Exhibit 10-65.)

C-130
Renunciation of Payments and Assignment among Ohio Edison Company, Monongahela Power Company, West Penn Power Company, and the Potomac Edison Company dated as of January 4, 1991. (1990 Form 10-K, Exhibit 10-66.)

C-131
Transfer and Assignment Agreement dated May 20, 1994 among Ohio Edison Company and Chemical Bank, as trustee under the OE Power Contract Trust. (1994 Form 10-K, Exhibit 10-110.)

C-132
Renunciation of Payments and Assignment among Ohio Edison Company, Monongahela Power Company, West Penn Power Company, and the Potomac Edison Company dated as of May 20, 1994. (1994 Form 10-K, Exhibit 10-111.)

C-133
Transfer and Assignment Agreement dated October 12, 1994 among Ohio Edison Company and Chemical Bank, as trustee under the OE Power Contract Trust. (1994 Form 10-K, Exhibit 10-112.)

C-134
Renunciation of Payments and Assignment among Ohio Edison Company, Monongahela Power Company, West Penn Power Company, and the Potomac Edison Company dated as of October 12, 1994. (1994 Form 10-K, Exhibit 10-113.)

C-135
Participation Agreement dated as of September 15, 1987, among Beaver Valley Two Pi Limited Partnership, as Owner Participant, the Original Loan Participants listed in Schedule 1 Thereto, as Original Loan Participants, BVPS Funding Corporation, as Funding Corporation, The First National Bank of Boston, as Owner Trustee, Irving Trust Company, as Indenture Trustee and Ohio Edison Company as Lessee. (1987 Form 10-K, Exhibit 28-1.)

C-136
Amendment No. 1 dated as of February 1, 1988, to Participation Agreement dated as of September 15, 1987, among Beaver Valley Two Pi Limited Partnership, as Owner Participant, the Original Loan Participants listed in Schedule 1 Thereto, as Original Loan Participants, BVPS Funding Corporation, as Funding Corporation, The First National Bank of Boston, as Owner Trustee, Irving Trust Company, as Indenture Trustee and Ohio Edison Company, as Lessee. (1987 Form 10-K, Exhibit 28-2.)

C-137
Amendment No. 3 dated as of March 16, 1988 to Participation Agreement dated as of September 15, 1987, as amended, among Beaver Valley Two Pi Limited Partnership, as Owner Participant, BVPS Funding Corporation, The First National Bank of Boston, as Owner Trustee, Irving Trust Company, as Indenture Trustee and Ohio Edison Company, as Lessee. (1992 Form 10-K, Exhibit 10-99.)

C-138
Amendment No. 4 dated as of November 5, 1992 to Participation Agreement dated as of September 15, 1987, as amended, among Beaver Valley Two Pi Limited Partnership, as Owner Participant, BVPS Funding Corporation, BVPS II Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee and Ohio Edison Company, as Lessee. (1992 Form 10-K, Exhibit 10-100.)



111

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

OE

C-139
Amendment No. 5 dated as of September 30, 1994 to Participation Agreement dated as of September 15, 1987, as amended, among Beaver Valley Two Pi Limited Partnership, as Owner Participant, BVPS Funding Corporation, BVPS II Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-118.)

C-140
Facility Lease dated as of September 15, 1987, between The First National Bank of Boston, as Owner Trustee, with Beaver Valley Two Pi Limited Partnership, Lessor, and Ohio Edison Company, Lessee. (1987 Form 10-K, Exhibit 28-3.)

C-141
Amendment No. 1 dated as of February 1, 1988, to Facility Lease dated as of September 15, 1987, between The First National Bank of Boston, as Owner Trustee, with Beaver Valley Two Pi Limited Partnership, Lessor, and Ohio Edison Company, Lessee. (1987 Form 10-K, Exhibit 28-4.)

C-142
Amendment No. 2 dated as of November 5, 1992, to Facility Lease dated as of September 15, 1987, as amended, between The First National Bank of Boston, as Owner Trustee, with Beaver Valley Two Pi Limited Partnership, as Owner Participant, and Ohio Edison Company, as Lessee. (1992 Form 10-K, Exhibit 10-103.)

C-143
Amendment No. 3 dated as of September 30, 1994 to Facility Lease dated as of September 15, 1987, as amended, between The First National Bank of Boston, as Owner Trustee, with Beaver Valley Two Pi Limited Partnership, as Owner Participant, and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-122.)

C-144
Ground Lease and Easement Agreement dated as of September 15, 1987, between Ohio Edison Company, Ground Lessor, and The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of September 15, 1987, with Beaver Valley Two Pi Limited Partnership, Tenant. (1987 Form 10-K, Exhibit 28-5.)

C-145
Trust Agreement dated as of September 15, 1987, between Beaver Valley Two Pi Limited Partnership, as Owner Participant, and The First National Bank of Boston. (1987 Form 10-K, Exhibit 28-6.)

C-146
Trust Indenture, Mortgage, Security Agreement and Assignment of Facility Lease dated as of September 15, 1987, between The First National Bank of Boston, as Owner Trustee under a Trust Agreement dated as of September 15, 1987, with Beaver Valley Two Pi Limited Partnership, and Irving Trust Company, as Indenture Trustee. (1987 Form 10-K, Exhibit 28-7.)

C-147
Supplemental Indenture No. 1 dated as of February 1, 1988 to Trust Indenture, Mortgage, Security Agreement and Assignment of Facility Lease dated as of September 15, 1987 between The First National Bank of Boston, as Owner Trustee under a Trust Agreement dated as of September 15, 1987 with Beaver Valley Two Pi Limited Partnership and Irving Trust Company, as Indenture Trustee. (1987 Form 10-K, Exhibit 28-8.)

C-148
Tax Indemnification Agreement dated as of September 15, 1987, between Beaver Valley Two Pi Inc. and PARock Limited Partnership as General Partners and Ohio Edison Company, as Lessee. (1987 Form 10-K, Exhibit 28-9.)



112

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

OE

C-149
Amendment No. 1 dated as of November 5, 1992 to Tax Indemnification Agreement dated as of September 15, 1987, between Beaver Valley Two Pi Inc. and PARock Limited Partnership as General Partners and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-128.)

C-150
Amendment No. 2 dated as of September 30, 1994 to Tax Indemnification Agreement dated as of September 15, 1987, between Beaver Valley Two Pi Inc. and PARock Limited Partnership as General Partners and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-129.)

C-151
Tax Indemnification Agreement dated as of September 15, 1987, between HG Power Plant, Inc., as Limited Partner and Ohio Edison Company, as Lessee. (1987 Form 10-K, Exhibit 28-10.)

C-152
Amendment No. 1 dated as of November 5, 1992 to Tax Indemnification Agreement dated as of September 15, 1987, between HG Power Plant, Inc., as Limited Partner and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-131.)

C-153
Amendment No. 2 dated as of September 30, 1994 to Tax Indemnification Agreement dated as of September 15, 1987, between HG Power Plant, Inc., as Limited Partner and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-132.)

C-154
Assignment, Assumption and Further Agreement dated as of September 15, 1987, among The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of September 15, 1987, with Beaver Valley Two Pi Limited Partnership, The Cleveland Electric Illuminating Company, Duquesne Light Company, Ohio Edison Company, Pennsylvania Power Company and Toledo Edison Company. (1987 Form 10-K, Exhibit 28-11.)

C-155
Additional Support Agreement dated as of September 15, 1987, between The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of September 15, 1987, with Beaver Valley Two Pi Limited Partnership, and Ohio Edison Company. (1987 Form 10-K, Exhibit 28-12.)

C-156
Participation Agreement dated as of September 15, 1987, among Chrysler Consortium Corporation, as Owner Participant, the Original Loan Participants listed in Schedule 1 Thereto, as Original Loan Participants, BVPS Funding Corporation as Funding Corporation, The First National Bank of Boston, as Owner Trustee, Irving Trust Company, as Indenture Trustee and Ohio Edison Company, as Lessee. (1987 Form 10-K, Exhibit 28-13.)

C-157
Amendment No. 1 dated as of February 1, 1988, to Participation Agreement dated as of September 15, 1987, among Chrysler Consortium Corporation, as Owner Participant, the Original Loan Participants listed in Schedule 1 Thereto, as Original Loan Participants, BVPS Funding Corporation, as Funding Corporation, The First National Bank of Boston, as Owner Trustee, Irving Trust Company, as Indenture Trustee, and Ohio Edison Company, as Lessee. (1987 Form 10-K, Exhibit 28-14.)

C-158
Amendment No. 3 dated as of March 16, 1988 to Participation Agreement dated as of September 15, 1987, as amended, among Chrysler Consortium Corporation, as Owner Participant, BVPS Funding Corporation, The First National Bank of Boston, as Owner Trustee, Irving Trust Company, as Indenture Trustee, and Ohio Edison Company, as Lessee. (1992 Form 10-K, Exhibit 10-114.)



113

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

OE

C-159
Amendment No. 4 dated as of November 5, 1992 to Participation Agreement dated as of September 15, 1987, as amended, among Chrysler Consortium Corporation, as Owner Participant, BVPS Funding Corporation, BVPS II Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee and Ohio Edison Company, as Lessee. (1992 Form 10-K, Exhibit 10-115.)

C-160
Amendment No. 5 dated as of January 12, 1993 to Participation Agreement dated as of September 15, 1987, as amended, among Chrysler Consortium Corporation, as Owner Participant, BVPS Funding Corporation, BVPS II Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-139.)

C-161
Amendment No. 6 dated as of September 30, 1994 to Participation Agreement dated as of September 15, 1987, as amended, among Chrysler Consortium Corporation, as Owner Participant, BVPS Funding Corporation, BVPS II Funding Corporation, The First National Bank of Boston, as Owner Trustee, The Bank of New York, as Indenture Trustee and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-140.)

C-162
Facility Lease dated as of September 15, 1987, between The First National Bank of Boston, as Owner Trustee, with Chrysler Consortium Corporation, Lessor, and Ohio Edison Company, as Lessee. (1987 Form 10-K, Exhibit 28-15.)

C-163
Amendment No. 1 dated as of February 1, 1988, to Facility Lease dated as of September 15, 1987, between The First National Bank of Boston, as Owner Trustee, with Chrysler Consortium Corporation, Lessor, and Ohio Edison Company, Lessee. (1987 Form 10-K, Exhibit 28-16.)

C-164
Amendment No. 2 dated as of November 5, 1992 to Facility Lease dated as of September 15, 1987, as amended, between The First National Bank of Boston, as Owner Trustee, with Chrysler Consortium Corporation, as Owner Participant, and Ohio Edison Company, as Lessee. (1992 Form 10-K, Exhibit 10-118.)

C-165
Amendment No. 3 dated as of January 12, 1993 to Facility Lease dated as of September 15, 1987, as amended, between The First National Bank of Boston, as Owner Trustee, with Chrysler Consortium Corporation, as Owner Participant, and Ohio Edison Company, as Lessee. (1992 Form 10-K, Exhibit 10-119.)

C-166
Amendment No. 4 dated as of September 30, 1994 to Facility Lease dated as of September 15, 1987, as amended, between The First National Bank of Boston, as Owner Trustee, with Chrysler Consortium Corporation, as Owner Participant, and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-145.)

C-167
Ground Lease and Easement Agreement dated as of September 15, 1987, between Ohio Edison Company, Ground Lessor, and The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of September 15, 1987, with Chrysler Consortium Corporation, Tenant. (1987 Form 10-K, Exhibit 28-17.)

C-168
Trust Agreement dated as of September 15, 1987, between Chrysler Consortium Corporation, as Owner Participant, and The First National Bank of Boston. (1987 Form 10-K, Exhibit 28-18.)


114

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

OE

C-169
Trust Indenture, Mortgage, Security Agreement and Assignment of Facility Lease dated as of September 15, 1987, between The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of September 15, 1987, with Chrysler Consortium Corporation and Irving Trust Company, as Indenture Trustee. (1987 Form 10-K, Exhibit 28-19.)

C-170
Supplemental Indenture No. 1 dated as of February 1, 1988 to Trust Indenture, Mortgage, Security Agreement and Assignment of Facility Lease dated as of September 15, 1987 between The First National Bank of Boston, as Owner Trustee under a Trust Agreement dated as of September 15, 1987 with Chrysler Consortium Corporation and Irving Trust Company, as Indenture Trustee. (1987 Form 10-K, Exhibit 28-20.)

C-171
Tax Indemnification Agreement dated as of September 15, 1987, between Chrysler Consortium Corporation, as Owner Participant, and Ohio Edison Company, Lessee. (1987 Form 10-K, Exhibit 28-21.)

C-172
Amendment No. 1 dated as of November 5, 1992 to Tax Indemnification Agreement dated as of September 15, 1987, between Chrysler Consortium Corporation, as Owner Participant, and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-151.)

C-173
Amendment No. 2 dated as of January 12, 1993 to Tax Indemnification Agreement dated as of September 15, 1987, between Chrysler Consortium Corporation, as Owner Participant, and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-152.)

C-174
Amendment No. 3 dated as of September 30, 1994 to Tax Indemnification Agreement dated as of September 15, 1987, between Chrysler Consortium Corporation, as Owner Participant, and Ohio Edison Company, as Lessee. (1994 Form 10-K, Exhibit 10-153.)

C-175
Assignment, Assumption and Further Agreement dated as of September 15, 1987, among The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of September 15, 1987, with Chrysler Consortium Corporation, The Cleveland Electric Illuminating Company, Duquesne Light Company, Ohio Edison Company, Pennsylvania Power Company, and Toledo Edison Company. (1987 Form 10-K, Exhibit 28-22.)

C-176
Additional Support Agreement dated as of September 15, 1987, between The First National Bank of Boston, as Owner Trustee under a Trust Agreement, dated as of September 15, 1987, with Chrysler Consortium Corporation, and Ohio Edison Company. (1987 Form 10-K, Exhibit 28-23.)

C-177
$125,000,000 Three-Year Credit Agreement dated as of October 23, 2003 by and among Ohio Edison Compay, Citibank, N.A., as Administrative Agent, and the other lenders named therein. (2004 Form 10-K, Exhibit 10-7)

C-178
$250,000,000 Credit Agreement dated as of May 12, 2003 by and among Ohio Edison Company, JPMorgan Chase Bank, as Administrative Agent, and the other lenders named therein. (2004 Form 10-K, Exhibit 10-8)



115

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

Penn

C-179
Indenture dated as of November 1, 1945, between Penn and The First National Bank of the City of New York (now Citibank, N.A.), as Trustee, as supplemented and amended by Supplemental Indentures dated as of May 1, 1948, March 1, 1950, February 1, 1952, October 1, 1957, September 1, 1962, June 1, 1963, June 1, 1969, May 1, 1970, April 1, 1971, October 1, 1971, May 1, 1972, December 1, 1974, October 1, 1975, September 1, 1976, April 15, 1978, June 28, 1979, January 1, 1980, June 1, 1981, January 14, 1982, August 1, 1982, December 15, 1982, December 1, 1983, September 6, 1984, December 1, 1984, May 30, 1985, October 29, 1985, August 1, 1987, May 1, 1988, November 1, 1989, December 1, 1990, September 1, 1991, May 1, 1992, July 15, 1992, August 1, 1992, and May 1, 1993, July 1, 1993, August 31, 1993, September 1, 1993, September 15, 1993, October 1, 1993, November 1, 1993, and August 1, 1994. (Physically filed and designated as Exhibits 2(b)(1)-1 through 2(b)(1)-15 in Registration Statement File No. 2-60837; as Exhibits 2(b)(2), 2(b)(3), and 2(b)(4) in Registration Statement File No. 2-68906; as Exhibit 4-2 in Form 10-K for 1981 File No. 1-3491; as Exhibit 19-1 in Form 10-K for 1982 File No. 1-3491; as Exhibit 19-1 in Form 10-K for 1983 File No. 1-3491; as Exhibit 19-1 in Form 10-K for 1984 File No. 1-3491; as Exhibit 19-1 in Form 10-K for 1985 File No. 1-3491; as Exhibit 19-1 in Form 10-K for 1987 File No. 1-3491; as Exhibit 19-1 in Form 10-K for 1988 File No. 1-3491; as Exhibit 19 in Form 10-K for 1989 File No. 1-3491; as Exhibit 19 in Form 10-K for 1990 File No. 1-3491; as Exhibit 19 in Form 10-K for 1991 File No. 1-3491; as Exhibit 19-1 in Form 10-K for 1992 File No. 1-3491; as Exhibit 4-2 in Form 10-K for 1993 File No. 1-3491; and as Exhibit 4-2 in Form 10-K for 1994 File No. 1-3491.)

C-180
Supplemental Indenture dated as of September 1, 1995, between Penn and Citibank, N.A., as Trustee. (1995 Form 10-K, Exhibit 4-2.)

C-181
Supplemental Indenture dated as of June 1, 1997, between Penn and Citibank, N.A., as Trustee. (1997 Form 10-K, Exhibit 4-3.)

C-182
Supplemental Indenture dated as of June 1, 1998, between Penn and Citibank, N. A., as Trustee. (1998 Form 10-K, Exhibit 4-4.)

C-183
Supplemental Indenture dated as of September 29, 1999, between Penn and Citibank, N.A., as Trustee. (1999 Form 10-K, Exhibit 4-5.)

C-184
Supplemental Indenture dated as of November 15, 1999, between Penn and Citibank, N.A., as Trustee. (1999 Form 10-K, Exhibit 4-6.)

C-185
Supplemental Indenture dated as of June 1, 2001. (2001 Form 10-K, Exhibit 4-7.)

C-186
Supplemental Indenture dated as of December 1, 2004. (2004 Form 10-K, Exhibit 4-4)

C-187
Ohio Edison System Executive Supplemental Life Insurance Plan. (1995 Form 10-K, Exhibit 10-44, File No. 1-2578, Ohio Edison Company.)

C-188
Ohio Edison System Executive Incentive Compensation Plan. (1995 Form 10-K, Exhibit 10-45, File No. 1-2578, Ohio Edison Company.)

C-189
Ohio Edison System Restated and Amended Executive Deferred Compensation Plan. (1995 Form 10-K, Exhibit 10-46, File No. 1-2578, Ohio Edison Company.)

C-190
Ohio Edison System Restated and Amended Supplemental Executive Retirement Plan. (1995 Form 10-K, Exhibit 10-47, File No. 1-2578, Ohio Edison Company.)


116

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

Common Exhibits to
CEI and TE

C-191
Rights Agreement (Exhibit 4, June 25, 1996 Form 8-K, File Nos. 1-9130, 1-2323 and 1-3583).

C-192
Form of Note Indenture between Cleveland Electric, Toledo Edison and The Chase Manhattan Bank, as Trustee dated as of June 13, 1997 (Exhibit 4(c), Form S-4 File No. 333-35931, filed by Cleveland Electric and Toledo Edison).

C-193
Form of First Supplemental Note Indenture between Cleveland Electric, Toledo Edison and The Chase Manhattan Bank, as Trustee dated as of June 13, 1997 (Exhibit 4(d), Form S-4 File No. 333-35931, filed by Cleveland Electric and Toledo Edison).

C-194
Form of Collateral Trust Indenture among CTC Beaver Valley Funding Corporation, Cleveland Electric, Toledo Edison and Irving Trust Company, as Trustee (Exhibit 4(a), File No. 33-18755, filed by Cleveland Electric and Toledo Edison).

C-195
Form of Supplemental Indenture to Collateral Trust Indenture constituting Exhibit 10d(1)(a) above, including form of Secured Lease Obligation bond (Exhibit 4(b), File No. 33-18755, filed by Cleveland Electric and Toledo Edison).

C-196
Form of Collateral Trust Indenture among Beaver Valley II Funding Corporation, The Cleveland Electric Illuminating Company and The Toledo Edison Company and The Bank of New York, as Trustee (Exhibit (4)(a), File No. 33-46665, filed by Cleveland Electric and Toledo Edison).

C-197
Form of Supplemental Indenture to Collateral Trust Indenture constituting Exhibit 10d(1)(c) above, including form of Secured Lease Obligation Bond (Exhibit (4)(b), File No. 33-46665, filed by Cleveland Electric and Toledo Edison).

C-198
Form of Collateral Trust Indenture among CTC Mansfield Funding Corporation, Cleveland Electric, Toledo Edison and IBJ Schroder Bank & Trust Company, as Trustee (Exhibit 4(a), File No. 33-20128, filed by Cleveland Electric and Toledo Edison).

CEI and Penn

C-199
Form of Supplemental Indenture to Collateral Trust Indenture constituting Exhibit 10d(2)(a) above, including forms of Secured Lease Obligation bonds (Exhibit 4(b), File No. 33-20128, filed by Cleveland Electric and Toledo Edison).

C-200
Form of Facility Lease dated as of September 15, 1987 between The First National Bank of Boston, as Owner Trustee under a Trust Agreement dated as of September 15, 1987 with the limited partnership Owner Participant named therein, Lessor, and Cleveland Electric and Toledo Edison, Lessee (Exhibit 4(c), File No. 33-18755, filed by Cleveland Electric and Toledo Edison).

C-201
Form of Amendment No. 1 to Facility Lease constituting Exhibit 10d(3)(a) above (Exhibit 4(e), File No. 33-18755, filed by Cleveland Electric and Toledo Edison).



117

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

CEI and Penn

C-202
Form of Facility Lease dated as of September 15, 1987 between The First National Bank of Boston, as Owner Trustee under a Trust Agreement dated as of September 15, 1987 with the corporate Owner Participant named therein, Lessor, and Cleveland Electric and Toledo Edison, Lessees (Exhibit 4(d), File No. 33-18755, filed by Cleveland Electric and Toledo Edison).

C-203
Form of Amendment No. 1 to Facility Lease constituting Exhibit 10d(4)(a) above (Exhibit 4(f), File No. 33-18755, filed by Cleveland Electric and Toledo Edison).

C-204
Form of Facility Lease dated as of September 30, 1987 between Meridian Trust Company, as Owner Trustee under a Trust Agreement dated as of September 30, 1987 with the Owner Participant named therein, Lessor, and Cleveland Electric and Toledo Edison, Lessees (Exhibit 4(c), File No. 33-20128, filed by Cleveland Electric and Toledo Edison).

C-205
Form of Amendment No. 1 to the Facility Lease constituting Exhibit 10d(5)(a) above (Exhibit 4(f), File No. 33-20128, filed by Cleveland Electric and Toledo Edison).

CEI and TE

C-206
Form of Participation Agreement dated as of September 15, 1987 among the limited partnership Owner Participant named therein, the Original Loan Participants listed in Schedule 1 thereto, as Original Loan Participants, CTC Beaver Valley Fund Corporation, as Funding Corporation, The First National Bank of Boston, as Owner Trustee, Irving Trust Company, as Indenture Trustee, and Cleveland Electric and Toledo Edison, as Lessees (Exhibit 28(a), File No. 33-18755, filed by Cleveland Electric And Toledo Edison).

C-207
Form of Amendment No. 1 to Participation Agreement constituting Exhibit 10d(6)(a) above (Exhibit 28(c), File No. 33-18755, filed by Cleveland Electric and Toledo Edison).

C-208
Form of Participation Agreement dated as of September 15, 1987 among the corporate Owner Participant named therein, the Original Loan Participants listed in Schedule 1 thereto, as Owner Loan Participants, CTC Beaver Valley Funding Corporation, as Funding Corporation, The First National Bank of Boston, as Owner Trustee, Irving Trust Company, as Indenture Trustee, and Cleveland Electric and Toledo Edison, as Lessees (Exhibit 28(b), File No. 33-18755, filed by Cleveland Electric and Toledo Edison).

C-209
Form of Amendment No. 1 to Participation Agreement constituting Exhibit 10d(7)(a) above (Exhibit 28(d), File No. 33-18755, filed by Cleveland Electric and Toledo Edison).

C-210
Form of Participation Agreement dated as of September 30, 1987 among the Owner Participant named therein, the Original Loan Participants listed in Schedule II thereto, as Owner Loan Participants, CTC Mansfield Funding Corporation, Meridian Trust Company, as Owner Trustee, IBJ Schroder Bank & Trust Company, as Indenture Trustee, and Cleveland Electric and Toledo Edison, as Lessees (Exhibit 28(a), File No. 33-0128, filed by Cleveland Electric and Toledo Edison).

C-211
Form of Amendment No. 1 to the Participation Agreement constituting Exhibit 10d(8)(a) above (Exhibit 28(b), File No. 33-20128, filed by Cleveland Electric and Toledo Edison).

C-212
Form of Ground Lease dated as of September 15, 1987 between Toledo Edison, Ground Lessor, and The First National Bank of Boston, as Owner Trustee under a Trust Agreement dated as of September 15, 1987 with the Owner Participant named therein, Tenant (Exhibit 28(e), File No. 33-18755, filed by Cleveland Electric and Toledo Edison).


118

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

CEI and TE
C-213
Form of Site Lease dated as of September 30, 1987 between Toledo Edison, Lessor, and Meridian Trust Company, as Owner Trustee under a Trust Agreement dated as of September 30, 1987 with the Owner Participant named therein, Tenant (Exhibit 28(c), File No. 33-20128, filed by Cleveland Electric and Toledo Edison).

C-214
Form of Site Lease dated as of September 30, 1987 between Cleveland Electric, Lessor, and Meridian Trust Company, as Owner Trustee under a Trust Agreement dated as of September 30, 1987 with the Owner Participant named therein, Tenant (Exhibit 28(d), File No. 33-20128, filed by Cleveland Electric and Toledo Edison).

C-215
Form of Amendment No. 1 to the Site Leases constituting Exhibits 10d(10) and 10d(11) above (Exhibit 4(f), File No. 33-20128, filed by Cleveland Electric and Toledo Edison).

C-216
Form of Assignment, Assumption and Further Agreement dated as of September 15, 1987 among The First National Bank of Boston, as Owner Trustee under a Trust Agreement dated as of September 15, 1987 with the Owner Participant named therein, Cleveland Electric, Duquesne, Ohio Edison, Pennsylvania Power and Toledo Edison (Exhibit 28(f), File No. 33-18755, filed by Cleveland Electric and Toledo Edison).

C-217
Form of Additional Support Agreement dated as of September 15, 1987 between The First National Bank of Boston, as Owner Trustee under a Trust Agreement dated as of September 15, 1987 with the Owner Participant named therein, and Toledo Edison (Exhibit 28(g), File No. 33-18755, filed by Cleveland Electric and Toledo Edison).

C-218
Form of Support Agreement dated as of September 30, 1987 between Meridian Trust Company, as Owner Trustee under a Trust Agreement dated as of September 30, 1987 with the Owner Participant named therein, Toledo Edison, Cleveland Electric, Duquesne, Ohio Edison and Pennsylvania Power (Exhibit 28(e), File No. 33-20128, filed by Cleveland Electric and Toledo Edison).

C-219
Form of Indenture, Bill of Sale, Instrument of Transfer and Severance Agreement dated as of September 30, 1987 between Toledo Edison, Seller, and The First National Bank of Boston, as Owner Trustee under a Trust Agreement dated as of September 15, 1987 with the Owner Participant named therein, Buyer (Exhibit 28(h), File No. 33-18755, filed by Cleveland Electric and Toledo Edison).

C-220
Form of Bill of Sale, Instrument of Transfer and Severance Agreement dated as of September 30, 1987 between Toledo Edison, Seller, and Meridian Trust Company, as Owner Trustee under a Trust Agreement dated as of September 30, 1987 with the Owner Participant named therein, Buyer (Exhibit 28(f), File No. 33-20128, filed by Cleveland Electric and Toledo Edison).

C-221
Form of Bill of Sale, Instrument of Transfer and Severance Agreement dated as of September 30, 1987 between Cleveland Electric, Seller, and Meridian Trust Company, as Owner Trustee under a Trust Agreement dated as of September 30, 1987 with the Owner Participant named therein, Buyer (Exhibit 28(g), File No. 33-20128, filed by Cleveland Electric and Toledo Edison).



119

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

CEI and TE

C-222
Forms of Refinancing Agreement, including exhibits thereto, among the Owner Participant named therein, as Owner Participant, CTC Beaver Valley Funding Corporation, as Funding Corporation, Beaver Valley II Funding Corporation, as New Funding Corporation, The Bank of New York, as Indenture Trustee, The Bank of New York, as New Collateral Trust Trustee, and The Cleveland Electric Illuminating Company and The Toledo Edison Company, as Lessees (Exhibit (28)(e)(i), File No. 33-46665, filed by Cleveland Electric and Toledo Edison).

C-223
Form of Amendment No. 2 to Facility Lease among Citicorp Lescaman, Inc., Cleveland Electric and Toledo Edison (Exhibit 10(a), Form S-4 File No. 333-47651, filed by Cleveland Electric).

C-224
Form of Amendment No. 3 to Facility Lease among Citicorp Lescaman, Inc., Cleveland Electric and Toledo Edison (Exhibit 10(b), Form S-4 File No. 333-47651, filed by Cleveland Electric).

C-225
Form of Amendment No. 2 to Facility Lease among US West Financial Services, Inc., Cleveland Electric and Toledo Edison (Exhibit 10(c), Form S-4 File No. 333-47651, filed by Cleveland Electric).

C-226
Form of Amendment No. 3 to Facility Lease among US West Financial Services, Inc., Cleveland Electric and Toledo Edison (Exhibit 10(d), Form S-4 File No. 333-47651, filed by Cleveland Electric).

C-227
Form of Amendment No. 2 to Facility Lease among Midwest Power Company, Cleveland Electric and Toledo Edison (Exhibit 10(e), Form S-4 File No. 333-47651, filed by Cleveland Electric).

C-228
Centerior Energy Corporation Equity Compensation Plan (Exhibit 99, Form S-8, File No. 33-59635).
 
CEI

C-229
Mortgage and Deed of Trust between CEI and Guaranty Trust Company of New York (now The Chase Manhattan Bank (National Association)), as Trustee, dated July 1, 1940 (Exhibit 7(a), File No. 2-4450). Supplemental Indentures between CEI and the Trustee, dated as follows:

Dated as of
 
File Reference
 
Exhibit No.
July 1, 1940
 
Form 10-K, 2-4450
 
7(b)
August 18, 1944
 
Form 10-K, 2-9887
 
4(c)
December 1, 1947
 
Form 10-K, 2-7306
 
7(d)
September 1, 1950
 
Form 10-K, 2-8587
 
7(c)
June 1, 1951
 
Form 10-K, 2-8994
 
7(f)
May 1, 1954
 
Form 10-K, 2-10830
 
4(d)
March 1, 1958
 
Form 10-K, 2-13839
 
2(a)(4)
April 1, 1959
 
Form 10-K, 2-14753
 
2(a)(4)
December 20, 1967
 
Form 10-K, 2-30759
 
2(a)(4)
January 15, 1969
 
Form 10-K, 2-30759
 
2(a)(5)
November 1, 1969
 
Form 10-K, 2-35008
 
2(a)(4)
June 1, 1970
 
Form 10-K, 2-37235
 
2(a)(4)
November 15, 1970
 
Form 10-K, 2-38460
 
2(a)(4)
May 1, 1974
 
Form 10-K, 2-50537
 
2(a)(4)
April 15, 1975
 
Form 10-K, 2-52995
 
2(a)(4)
April 16, 1975
 
Form 10-K, 2-53309
 
2(a)(4)
May 28, 1975
 
June 5,1975 Form 8-A, 1-2323
 
2(c)
February 1, 1976
 
1975 Form 10 K, 1-2323
 
3(d)(6)
November 23, 1976
 
Form 10-K, 2-57375
 
2(a)(4)

120

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits
 
CEI
 

Dated as of
 
File Reference
 
Exhibit No.
July 26, 1977
 
Form 10-K, 2-59401
 
2(a)(4)
September  7, 1977
 
Form 10-K, 2-67221
 
2(a)(5)
May 1, 1978
 
June 30,1978 Form 10-Q,
   
   
1-2323
 
2(b)
September 1, 1979
 
September 30, 1979 Form 10-Q,
 
2(a)
   
1-2323
   
April 1, 1980
 
September 30, 1980 Form 10-Q,
 
4(a)(2)
   
1-2323
   
April 15, 1980
 
September 30, 1980 Form 10-Q,
 
4(b)
   
1-2323
   
May 28, 1980
 
Amendment No. 1, 2-67221
 
2(a)(4)
June 9, 1980
 
September 30, 1980 Form 10-Q,
 
4(d)
   
1-2323
   
December 1, 1980
 
1980 Form 10-K, 1-2323
 
4(b) (29)
July 28, 1981
 
September 30, 1981, Form 10-Q,
 
4(a)
   
1-2323
   
August 1, 1981
 
September 30, 1981, Form 10-Q,
 
4(b)
   
1-2323
   
March 1, 1982
 
Amendment No. 1, 2-76029
 
4(b)(3)
July 15, 1982
 
September 30, 1982 Form 10-Q,
 
4(a)
   
1-2323
   
September 1, 1982
 
September 30, 1982 Form 10-Q,
 
4(a)(1)
   
1-2323
   
November 1, 1982
 
September 30, 1982 Form 10-Q,
 
(a)(2)
   
1-2323
   
November 15, 1982
 
1982 Form 10-K, 1-2323
 
4(b)(36)
May 24, 1983
 
June 30, 1983 Form 10-Q,
   
   
1-2323
 
4(a)
May 1, 1984
 
June 30, 1984 Form 10-Q,
   
   
1-2323
 
4
May 23, 1984
 
May 22,1984 Form 8-K, 1-2323
 
4
June 27, 1984
 
June 11, 1984 Form 8-K,
   
   
1-2323
 
4
September 4, 1984
 
1984 Form 10-K, 1-2323
 
4b(41)
November 14, 1984
 
1984 Form 10 K, 1-2323
 
4b(42)
November 15, 1984
 
1984 Form 10-K, 1-2323
 
4b(43)
April 15, 1985
 
May 8, 1985 Form 8-K, 1-2323
 
4(a)
May 28, 1985
 
May 8, 1985 Form 8-K, 1-2323
 
4(b)
August 1, 1985
 
September 30, 1985 Form 10-Q,
 
4
   
1-2323
   
September 1, 1985
 
September 30, 1985 Form 8-K,
 
4
   
1-2323
   
November 1, 1985
 
January 31, 1986 Form 8-K,
 
4
   
1-2323
   
April 15, 1986
 
March 31, 1986 Form 10-Q,
 
4
   
1-2323
   
May 14, 1986
 
June 30, 1986 Form 10-Q,
1-2323
 
4(a)

121

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

CEI


Dated as of
 
File Reference
 
Exhibit No.
May 15, 1986
 
June 30, 1986 Form 10-Q,
 
4(b)
   
1-2323
   
February 25, 1987
 
1986 Form 10-K, 1-2323
 
4b(52)
October 15, 1987
 
September 30, 1987 Form 10-Q
 
4
   
1-2323
   
February 24, 1988
 
1987 Form 10-K, 1-2323
 
4b(54)
September 15, 1988
 
1988 Form 10-K, 1-2323
 
4b(55)
May 15, 1989
 
33-32724
 
4(a)(2)(i)
June 13, 1989
 
File No. 33-32724
 
4(a)(2)(ii)
October 15, 1989
 
33-32724
 
4(a)(2)(iii)
January 1, 1990
 
1989 Form 10-K, 1-2323
 
4b(59)
June 1, 1990
 
September 30, 1990 Form 10-Q,
 
4(a)
   
1-2323
   
August 1, 1990
 
September 30, 1990 Form 10-Q,
 
4(b)
   
1-2323
   
May 1, 1991
 
June 30, 1991 Form 10-Q,
 
4(a)
   
1-2323
   
May 1, 1992
 
33-48845
 
4(a)(3)
July 31, 1992
 
33-57292
 
4(a)(3)
January 1, 1993
 
1992 Form 10-K, 1-2323
 
4b(65)
February 1, 1993
 
1992 Form 10-K, 1-2323
 
4b(66)
May 20, 1993
 
July 14, 1993 Form 8-K,
 
4(a)
   
1-2323
   
June 1, 1993
 
July 14, 1993 Form 8-K,
 
4(b)
   
1-2323
   
September 15, 1994
 
September 30, 1994 Form 10-Q,
 
4(a)
   
1-2323
   
May 1, 1995
 
September 1995 Form 10-Q,
 
4(a)
   
1-2323
   
May 2, 1995
 
September 1995 Form 10-Q,
 
4(b)
   
1-2323
   
June 1, 1995
 
September 1995 Form 10-Q,
 
4(c)
   
1-2323
   
July 15, 1995
 
1995 Form 10-K, 1-2323
 
4b(73
August 1, 1995
 
1995 Form 10-K, 1-2323
 
4b(74)
June 15, 1997
 
Form S-4, 333-35931, filed by
 
4(a)
   
CEI and TE
   
October 15, 1997
 
Form S-4, 333-47651, filed by
 
4(a)
   
Cleveland Electric
   
June 1, 1998
 
Form S-4, 333-72891
 
4b(77)
October 1, 1998
 
Form S-4, 333-72891
 
4b(78)
October 1, 1998
 
Form S-4, 333-72891
 
4b(79)
February 24, 1999
 
Form S-4, 333-72891
 
4b(80)
September 29, 1999
 
1999 Form 10-K, 1-2323
 
4b(81)
January 15, 2000
 
1999 Form 10-K, 1-2323
 
4b(82)
May 15, 2002
 
2002 Form 10-K, 1-2323
 
4b(83)
October 1, 2002
 
2002 Form 10-K, 1-2323
 
4b(84)
September 1, 2004
 
September 2004 10Q, 1-2323
 
4-1(85)
October 1, 2004
 
September 2004 10Q, 1-2323
 
4-1(86)


122

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits
 
CEI

C-230
Form of Note Indenture between Cleveland Electric and The Chase Manhattan Bank, as Trustee dated as of October 24, 1997 (Exhibit 4(b), Form S-4 File No. 333-47651, filed by Cleveland Electric).

C-231
Form of Supplemental Note Indenture between Cleveland Electric and The Chase Manhattan Bank, as Trustee dated as of October 24, 1997 (Exhibit 4(c), Form S-4 File No. 333-47651, filed by Cleveland Electric).

C-232
Indenture dated as of December 1, 2003 between CEI and JPMorgan Chase Bank, as Trustee, incorporated by reference to Exhibit 4-1 on FirstEnergy Annual Report on Form 10-K, for the year 2003, File No.1-2323.

TE

C-233
Indenture, dated as of April 1, 1947, between TE and The Chase National Bank of the City of New York (now The Chase Manhattan Bank (National Association)) (Exhibit 2(b), File No. 2-26908).
 

Dated as of
 
File Reference
 
Exhibit No.
September 1, 1948
 
Form 10-K, 2-26908
 
2(d)
April 1, 1949
 
Form 10-K, 2-26908
 
2(e)
December 1, 1950
 
Form 10-K, 2-26908
 
2(f)
March 1, 1954
 
Form 10-K, 2-26908
 
2(g)
February 1, 1956
 
Form 10-K, 2-26908
 
2(h)
May 1, 1958
 
Form 10-K, 2-59794
 
5(g)
August 1, 1967
 
Form 10-K, 2-26908
 
2(c)
November 1, 1970
 
Form 10-K, 2-38569
 
2(c)
August 1, 1972
 
Form 10-K, 2-44873
 
2(c)
November 1, 1973
 
Form 10-K, 2-49428
 
2(c)
October 1, 1975
 
Form 10-K, 2-54627
 
2(c)
June 1, 1976
 
Form 10-K, 2-56396
 
2(c)
October 1, 1978
 
Form 10-K, 2-62568
 
2(c)
September 1, 1979
 
Form 10-K, 2-65350
 
2(c)
September 1, 1980
 
Form 10-K, 2-69190
 
4(s)
October 1, 1980
 
Form 10-K, 2-69190
 
4(c)
April 1, 1981
 
Form 10-K, 2-71580
 
4(c)
November 1, 1981
 
Form 10-K, 2-74485
 
4(c)
June 1, 1982
 
Form 10-K, 2-77763
 
4(c)
September 1, 1982
 
Form 10-K, 2-87323
 
4(x)
April 1, 1983
 
March 31, 1983, Form 10-Q,
 
4(c)
   
1-3583
   
December 1, 1983
 
1983 Form 10-K, 1-3583
 
4(x)
April 1, 1984
 
2-90059
 
4(c)
October 15, 1984
 
1984 Form 10-K
 
4(dd)
August 1, 1985
 
33-1689
 
4(ee)
December 1, 1985
 
33-1689
 
4(c)
March 1, 1986
 
1986 Form 10-K, 1-3583
 
4b(31)
October 15, 1987
 
September 30, 1987 Form 10-Q,
 
4
   
1-3583
   
September 15, 1988
 
1988 Form 10-K, 1-3583
 
4b(33)
June 15, 1989
 
1989 Form 10-K, 1-3583
 
4b(34)


123

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

TE


Dated as of
 
File Reference
 
Exhibit No.
         
October 15, 1989
 
1989 Form 10-K, 1-3583
 
4b(35)
May 15, 1990
 
June 30, 1990 Form 10-Q,
 
4
   
1-3583
   
March 1, 1991
 
June 30, 1991 Form 10-Q,
   
   
1-3583
 
4(b)
May 1, 1992
 
33-48844
 
4(a)(3)
August 1, 1992
 
1992 Form 10-K, 1-3583
 
4b(39)
October 1, 1992
 
1992 Form 10-K, 1-3583
 
4b(40)
January 1, 1993
 
1992 Form 10-K, 1-3583
 
4b(41)
September 15, 1994
 
September 30, 1994 Form 10-Q,
 
4(b)
   
1-3583
   
May 1, 1995
 
September 30, 1995 Form 10-Q,
 
4(d)
       
1-3583
June 1, 1995
 
September 30, 1995 Form 10-Q,
 
4(e)
   
1-3583
   
July 14, 1995
 
September 30, 1995 Form 10-Q,
 
4(f)
   
1-3583
   
July 15, 1995
 
September 30, 1995 Form 10-Q,
 
4(g)
   
1-3583
   
August 1, 1997
 
1998 Form 10-K, 1-3583
 
4b(47)
June 1, 1998
 
1998 Form 10-K, 1-3583
 
4b(48)
January 15, 2000
 
1999 Form 10-K, 1-3583
 
4b(49)
May 1, 2000
 
2000 Form 10-K, 1-3583
 
4b(50)
September 1, 2000
 
2002 Form 10-K, 1-3583
 
4b(51)
October 1, 2002
 
2002 Form 10-K, 1-3583
 
4b(52)
April 1, 2003
 
2003 Form 10-k, 1-3583
 
4b(53)


JCP&L

C-234
Indenture of JCP&L, dated March 1, 1946 between JCP&L and United States Trust Company of New York, Successor Trustee, as amended and supplemented by eight supplemental indentures dated December 1, 1948 through June 1, 1960 - Incorporated by reference to JCP&L’s Instruments of Indebtedness Nos. 1 to 7, inclusive, and 9 and 10 filed as part of Amendment No. 1 to 1959 Annual Report of GPU on Form U5S, SEC File Nos. 30-126 and 1-3292.

C-235
Ninth Supplemental Indenture, dated as of November 1, 1962 - incorporated by reference to Exhibit 2-C, Registration No. 2-20732.

C-236
Tenth Supplemental Indenture, dated as of October 1, 1963 - incorporated by reference to Exhibit 2-C, Registration No. 2-21645.

C-237
Eleventh Supplemental Indenture, dated as of October 1, 1964 - incorporated by reference to Exhibit 5-A-3, Registration No. 2-59785.

C-238
Twelfth Supplemental Indenture, dated as of November 1, 1965 - incorporated by reference to Exhibit 5-A-4, Registration No. 2-59785.

124

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

JCP&L

C-239
Thirteenth Supplemental Indenture, dated as of August 1, 1966 - incorporated by reference to Exhibit 4-C, Registration No. 2-25124.

C-240
Fourteenth Supplemental Indenture, dated as of September 1, 1967 - incorporated by reference to Exhibit 5-A-6, Registration No. 2-59785.

C-241
Fifteenth Supplemental Indenture, dated as of October 1, 1968 - incorporated by reference to Exhibit 5-A-7, Registration No. 2-59785.

C-242
Sixteenth Supplemental Indenture, dated as of October 1, 1969 - incorporated by reference to Exhibit 5-A-8, Registration No. 2-59785.

C-243
Seventeenth Supplemental Indenture, dated as of June 1, 1970 - incorporated by reference to Exhibit 5-A-9, Registration No. 2-59785.

C-244
Eighteenth Supplemental Indenture, dated as of December 1, 1970 - incorporated by reference to Exhibit 5-A-10, Registration No. 2-59785.

C-245
Nineteenth Supplemental Indenture, dated as of February 1, 1971 - incorporated by reference to Exhibit 5-A-11, Registration No. 2-59785.

C-246
Twentieth Supplemental Indenture, dated as of November 1, 1971 - incorporated by reference to Exhibit 5-A-12, Registration No. 2-59875.

C-247
Twenty-first Supplemental Indenture, dated as of August 1, 1972 - incorporated by reference to Exhibit 5-A-13, Registration No. 2-59785.

C-248
Twenty-second Supplemental Indenture, dated as of August 1, 1973 - incorporated by reference to Exhibit 5-A-14, Registration No. 2-59785.

C-249
Twenty-third Supplemental Indenture, dated as of October 1, 1973 - incorporated by reference to Exhibit 5-A-15, Registration No. 2-59785.

C-250
Twenty-fourth Supplemental Indenture, dated as of December 1, 1973 - incorporated by reference to Exhibit 5-A-16, Registration No. 2-59785.

C-251
Twenty-fifth Supplemental Indenture, dated as of November 1, 1974 - incorporated by reference to Exhibit 5-A-17, Registration No. 2-59785.

C-252
Twenty-sixth Supplemental Indenture, dated as of March 1, 1975 - incorporated by reference to Exhibit 5-A-18, Registration No. 2-59785.

C-253
Twenty-seventh Supplemental Indenture, dated as of July 1, 1975 - incorporated by reference to Exhibit 5-A-19, Registration No. 2-59785.

C-254
Twenty-eighth Supplemental Indenture, dated as of October 1, 1975 - incorporated by reference to Exhibit 5-A-20, Registration No. 2-59785.

C-255
Twenty-ninth Supplemental Indenture, dated as of February 1, 1976 - incorporated by reference to Exhibit 5-A-21, Registration No. 2-59785.


125

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

JCP&L

C-256
Supplemental Indenture No. 29A, dated as of May 31, 1976 - incorporated by reference to Exhibit 5-A-22, Registration No. 2-59785.

C-257
Thirtieth Supplemental Indenture, dated as of June 1, 1976 - incorporated by reference to Exhibit 5-A-23, Registration No. 2-59785.

C-258
Thirty-first Supplemental Indenture, dated as of May 1, 1977 - incorporated by reference to Exhibit 5-A-24, Registration No. 2-59785.

C-259
Thirty-second Supplemental Indenture, dated as of January 20, 1978 - incorporated by reference to Exhibit 5-A-25, Registration No. 2-60438.

C-260
Thirty-third Supplemental Indenture, dated as of January 1, 1979 - incorporated by reference to Exhibit A-20(b), Certificate Pursuant to Rule 24, File No. 70-6242.

C-261
Thirty-fourth Supplemental Indenture, dated as of June l, 1979 - incorporated by reference to Exhibit A-28, Certificate Pursuant to Rule 24, File No. 70-6290.

C-262
Thirty-sixth Supplemental Indenture, dated as of October 1, 1979 - incorporated by reference to Exhibit A-30, Certificate Pursuant to Rule 24, File No. 70-6354.

C-263
Thirty-seventh Supplemental Indenture, dated as of September 1, 1984 - incorporated by reference to Exhibit A-1(cc), Certificate Pursuant to Rule 24, File No. 70-7001.

C-264
Thirty-eighth Supplemental Indenture, dated as of July 1, 1985 - incorporated by reference to Exhibit A-1(dd), Certificate Pursuant to Rule 24, File No. 70-7109.

C-265
Thirty-ninth Supplemental Indenture, dated as of April 1, 1988 - incorporated by reference to Exhibit A-1(a), Certificate Pursuant to Rule 24, File No. 70-7263.

C-266
Fortieth Supplemental Indenture, dated as of June 14, 1988 - incorporated by reference to Exhibit A-1(ff), Certificate Pursuant to Rule 24, File No. 70-7603.

C-267
Forty-first Supplemental Indenture, dated as of April 1, 1989 - incorporated by reference to Exhibit A-1(gg), Certificate Pursuant to Rule 24, File No. 70-7603.

C-268
Forty-second Supplemental Indenture, dated as of July 1, 1989 - incorporated by reference to Exhibit A-1(hh), Certificate Pursuant to Rule 24, File No. 70-7603.

C-269
Forty-third Supplemental Indenture, dated as of March 1, 1991 -incorporated by reference to Exhibit 4-A-35, Registration No. 33-45314.

C-270
Forty-fourth Supplemental Indenture, dated as of March 1, 1992 - incorporated by reference to Exhibit 4-A-36, Registration No. 33-49405.

C-271
Forty-fifth Supplemental Indenture, dated as of October 1, 1992 - incorporated by reference to Exhibit 4-A-37, Registration No. 33-49405.



126

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

JCP&L

C-272
Forty-sixth Supplemental Indenture, dated as of April 1, 1993 - incorporated by reference to Exhibit C-15 to GPU, Inc.'s Annual Report on Form U5S for the year 1992, File No. 30-126.

C-273
Forty-seventh Supplemental Indenture, dated as of April 10, 1993 - incorporated by reference to Exhibit C-16 to GPU, Inc.'s Annual Report on Form U5S for the year 1992, File No. 30-126.

C-274
Forty-eighth Supplemental Indenture, dated as of April 15, 1993 - incorporated by reference to Exhibit C-17 to GPU, Inc.'s Annual Report on Form U5S for the year 1992, File No. 30-126.

C-275
Forty-ninth Supplemental Indenture, dated as of October 1, 1993 - incorporated by reference to Exhibit C-18 to GPU, Inc.'s Annual Report on Form U5S for the year 1993, File No. 30-126.

C-276
Fiftieth Supplemental Indenture, dated as of August 1, 1994 - incorporated by reference to Exhibit C-19 of GPU, Inc.'s Annual Report on Form U5S for the year 1994, File No. 30-126.

C-277
Fifty-first Supplemental Indenture of JCP&L, dated August 15, 1996 - incorporated by reference to Exhibit 4-A-43 of GPU, Inc.'s Annual Report on Form 10-K for 1996, File No. 1-6047.

C-278
Fifty-second Supplemental Indenture of JCP&L dated July 1, 1999 - incorporated by reference to Item 16, Exhibit 4-B-44 of Registration No. 333-88783.

C-279
Fifty-third Supplemental Indenture of JCP&L dated November 1, 1999 - incorporated by reference to Exhibit 4-A-45 of JCP&L's Annual Report on Form 10-K for the year 1999, File No. 1-3141.

C-280
Subordinated Debenture Indenture, dated as of May 1, 1995 - incorporated by reference to Exhibit A-8(a), Certificate Pursuant to Rule 24, File No. 70-8495.

C-281
Fifty-fourth Supplemental Indenture of JCP&L, dated November 7, 2001 - incorporated by reference to Exhibit 4-A-47 of JCP&L’s Annual Report on Form 10-K for the year 2001, File No. 1-3141.

C-282
Fifty-fifth Supplemental Indenture of JCP&L, dated April 23, 2004, incorporated by reference to Exhibit 4-5, 2004 Annual Report on Form 10-K, SEC File No. 1-3141.

C-283
Senior Note Indenture between JCP&L and United States Trust Company of New York, dated July 1, 1999 - incorporated by reference to Exhibit 4-A of Registration No. 333-78717.

Met-Ed

C-284
Indenture of Met-Ed, dated November 1, 1944, between Met-Ed and United States Trust Company of New York, Successor Trustee, as amended and supplemented by fourteen supplemental indentures dated February 1, 1947 through May 1, 1960 - Incorporated by reference to Met-Ed’s Instruments of Indebtedness Nos. 1 to 14 inclusive, and 16, filed as part of Amendment No. 1 to 1959 Annual Report of GPU on Form U5S, SEC File Nos. 30-126 and 1-3292.

C-285
Supplemental Indenture, dated as of December 1, 1962 - incorporated by reference to Exhibit 2-E(1), Registration No. 2-59678.

C-286
Supplemental Indenture, dated as of March 20, 1964 - incorporated by reference to Exhibit 2-E(2), Registration No. 2-59678.


127

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

Met-Ed

C-287
Supplemental Indenture, dated as of July 1, 1965 - incorporated by reference to Exhibit 2-E(3), Registration No. 2-59678.

C-288
Supplemental Indenture, dated as of June 1, 1966 - incorporated by reference to Exhibit 2-B-4, Registration No. 2-24883.

C-289
Supplemental Indenture, dated as of March 22, 1968 - incorporated by reference to Exhibit 4-C-5, Registration No. 2-29644.

C-290
Supplemental Indenture, dated as of September 1, 1968 - incorporated by reference to Exhibit 2-E(6), Registration No. 2-59678.

C-291
Supplemental Indenture, dated as of August 1, 1969 - incorporated by reference to Exhibit 2-E(7), Registration No. 2-59678.

C-292
Supplemental Indenture, dated as of November 1, 1971 - incorporated by reference to Exhibit 2-E(8), Registration No. 2-59678.

C-293
Supplemental Indenture, dated as of May 1, 1972 - incorporated by reference to Exhibit 2-E(9), Registration No. 2-59678.

C-294
Supplemental Indenture, dated as of December 1, 1973 - incorporated by reference to Exhibit 2-E(10), Registration No. 2-59678.

C-295
Supplemental Indenture, dated as of October 30, 1974 - incorporated by reference to Exhibit 2-E(11), Registration No. 2-59678.

C-296
Supplemental Indenture, dated as of October 31, 1974 - incorporated by reference to Exhibit 2-E(12), Registration No. 2-59678.

C-297
Supplemental Indenture, dated as of March 20, 1975 - incorporated by reference to Exhibit 2-E(13), Registration No. 2-59678.

C-298
Supplemental Indenture, dated as of September 25, 1975 - incorporated by reference to Exhibit 2-E(15), Registration No. 2-59678.

C-299
Supplemental Indenture, dated as of January 12, 1976 - incorporated by reference to Exhibit 2-E(16), Registration No. 2-59678.

C-300
Supplemental Indenture, dated as of March 1, 1976 - incorporated by reference to Exhibit 2-E(17), Registration No. 2-59678.

C-301
Supplemental Indenture, dated as of September 28, 1977 - incorporated by reference to Exhibit 2-E(18), Registration No. 2-62212.

C-302
Supplemental Indenture, dated as of January 1, 1978 - incorporated by reference to Exhibit 2-E(19), Registration No. 2-62212.



128

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

Met-Ed

C-303
Supplemental Indenture, dated as of September 1, 1978 - incorporated by reference to Exhibit 4-A(19), Registration No. 33-48937.

C-304
Supplemental Indenture, dated as of June 1, 1979 - incorporated by reference to Exhibit 4-A(20), Registration No. 33-48937.

C-305
Supplemental Indenture, dated as of January l, 1980 - incorporated by reference to Exhibit 4-A(21), Registration No. 33-48937.

C-306
Supplemental Indenture, dated as of September 1, 1981 - incorporated by reference to Exhibit 4-A(22), Registration No. 33-48937.
 
C-108
Supplemental induentre, dated as of September 10, 1981 - incorporated by reference to Exhibit 4-A(23), Registration No. 33-48937.
 
C-308
Supplemental Indenture, dated as of December 1, 1982 - incorporated by reference to Exhibit 4-A(24), Registration No. 33-48937.

C-309
Supplemental Indenture, dated as of September 1, 1983 - incorporated by reference to Exhibit 4-A(25), Registration No. 33-48937.

C-310
Supplemental Indenture dated as of September 1, 1984 - incorporated by reference to Exhibit 4-A(26), Registration No. 33-48937.

C-311
Supplemental Indenture, dated as of March 1, 1985 - incorporated by reference to Exhibit 4-A(27), Registration No. 33-48937.

C-312
Supplemental Indenture, dated as of September l, 1985 - incorporated by reference to Exhibit 4-A(28), Registration No. 33-48937.

C-313
Supplemental Indenture, dated as of June 1, 1988 - incorporated by reference to Exhibit 4-A(29), Registration No. 33-48937.

C-314
Supplemental Indenture, dated as of April 1, 1990 - incorporated by reference to Exhibit 4-A(30), Registration No. 33-48937.

C-315
Amendment, dated as of May 22, 1990, to Supplemental Indenture (dated April 1, 1990) - incorporated by reference to Exhibit 4-A(31), Registration No. 33-48937.

C-316
Supplemental Indenture, dated as of September 1, 1992 - incorporated by reference to Exhibit 4-A(32)(a), Registration No. 33-48937.

C-317
Supplemental Indenture, dated as of December 1, 1993 - incorporated by reference to Exhibit C-58 to GPU, Inc.'s Annual Report on Form U5S for the year 1993, File No. 30-126.

C-318
Supplemental Indenture, dated as of July 15, 1995 - incorporated by reference to Exhibit 4-B-35 to Met-Ed's Annual Report on Form 10-K for the year 1995, File No. 1-446.



129

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

Met-Ed

C-319
Supplemental Indenture, dated August 15, 1996 - incorporated by reference to Exhibit 4-B-35 to Met-Ed's Annual Report on Form 10-K for 1996, File No. 1-446.

C-320
Supplemental Indenture, dated May 1, 1997 - incorporated by reference to Exhibit 4-B-36 to Met-Ed's Annual Report on Form 10-K for 1997, File No. 1-446.

C-321
Indenture between Met-Ed and United States Trust Company of New York dated May 1, 1999 - incorporated by reference to Exhibit A-11(a), Certificate Pursuant to Rule 24, File No. 70-9329.

C-322
Supplemental Indenture between Met-Ed and United States Trust Company of New York dated July 1, 1999 - incorporated by reference to Exhibit 4-B-38 of Met-Ed's Annual Report on Form 10-K for the year 1999, File No. 1-446.

C-323
Senior Note Indenture between Met-Ed and United States Trust Company of New York, dated July 1, 1999.

C-324
Supplemental Indenture, dated May 1, 2001 - incorporated by reference to Exhibit 4-B-41 to Met-Ed’s Annual Report on Form 10-K for 2002, File No. 1-446.

C-325
First Supplemental Indenture between Met-Ed and United States Trust Company of New York, dated August 1, 2000 - incorporated by reference to Exhibit 4-A, June 30, 2000 Quarterly Report on Form 10-Q, SEC File No. 1-446.

C-326
Supplemental Indenture, dated March 1, 2003 - incorporated by reference to Exhibit 4-B-42 to Met-Ed’s Annual Report on Form 10-K for 2003, File No. 1-446.

C-327
Payment and Guarantee Agreement of Met-Ed, dated May 28, 1999 - incorporated by reference to Exhibit B-1(a), Certificate Pursuant to Rule 24, SEC No. 70-9329.

C-328
Amendment No. 1 Payment and Guarantee Agreement of Met-Ed, dated November 23, 1999 - incorporated by reference to Exhibit 4-H, 1999 Annual Report on Form 10-K, SEC File No. 1-446.

Penelec

C-329
Supplemental Indentures to Mortgage and Deed of Trust, dated May 1, 1961 through December1, 1977 - incorporated by reference to Exhibit 2-D(1) to 2-D(19), Registration No. 2-61502.

C-330
Supplemental Indenture, dated as of June 1, 1978 - incorporated by reference to Exhibit 4-A(2), Registration No. 33-49669.

C-331
Supplemental Indenture, dated as of June l, 1979 - incorporated by reference to Exhibit 4-A(3), Registration No. 33-49669.

C-332
Supplemental Indenture, dated as of September 1, 1984 - incorporated by reference to Exhibit 4-A(4), Registration No. 33-49669.

C-333
Supplemental Indenture, dated as of December 1, 1985 - incorporated by reference to Exhibit 4-A(5), Registration No. 33-49669.



130

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

Penelec

C-334
Supplemental Indenture, dated as of December 1, 1986, - incorporated by reference to Exhibit 4-A(6), Registration No. 33-49669.

C-335
Supplemental Indenture, dated as of May 1, 1989 - incorporated by reference to Exhibit 4-A(7), Registration No. 33-49669.

C-336
Supplemental Indenture, dated as of December 1, 1990 - incorporated by reference to Exhibit 4-A(8), Registration No. 33-45312.

C-337
Supplemental Indenture, dated as of March 1, 1992 - incorporated by reference to Exhibit 4-A(9), Registration No. 33-45312.

C-338
Supplemental Indenture, dated as of June 1, 1993 - incorporated by reference to Exhibit C-73 to GPU, Inc.'s Annual Report on Form U5S for the year 1993, File No. 30-126.

C-339
Supplemental Indenture, dated as of November 1, 1995 - incorporated by reference to Exhibit 4-C-11 to GPU, Inc.'s Annual Report on Form 10-K for the year 1995, File No. 1-6047.

C-340
Supplemental Indenture, dated August 15, 1996 - incorporated by reference to Exhibit 4-C-12 to GPU, Inc.'s Annual Report on Form 10-K for 1996, File No. 1-6047.

C-341
Senior Note Indenture between Penelec and United States Trust Company of New York dated April 1, 1999 - incorporated by reference to Exhibit 4-C-13 of Penelec's Annual Report on Form 10-K for the year 1999, File No. 1-3522.

C-342
Indenture between Penelec and United States Trust Company of New York dated June 1, 1999 - incorporated by reference to Exhibit A-11(a), Certificate Pursuant to Rule 24, File No. 70-9327.

C-343
First Supplemental Indenture between Penelec and United States Trust Company of New York, dated August 1, 2000 - incorporated by reference to Exhibit 4-B, June 30, 2000 Quarterly Report on Form 10-Q, SEC File No. 1-3522.

C-344
Supplemental Indenture, dated May 1, 2001 - incorporated by reference to Exhibit 4-C-16 to Penelec’s Annual Report on Form 10-K for the year 2001, File No. 1-3522.

C-345
Supplemental Indenture No. 1, dated May 1, 2001 - incorporated by reference to Exhibit 4-C-16 to Penelec’s Annual Report on Form 10-K for the year 2001, File No. 1-3522.

C-346
Payment and Guarantee Agreement of Penelec, dated June 16, 1999 - incorporated by reference to Exhibit B-1(a), Certificate Pursuant to Rule 24, SEC File No. 70-9327.

C-347
Amendment No. 1 to Payment and Guarantee Agreement of Penelec, dated November 23, 1999 - incorporated by reference to Exhibit 4-J, 1999 Annual Report on Form 10-K, SEC File No. 1-3522.




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ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

D.
Tax Allocation Agreement

D-1
Tax Allocation Agreement dated June 30, 2003 incorporated by reference to Exhibit D-1 to FirstEnergy Corp.’s Annual Report on Form U5S for the year 2003, File    No. 333-21011.


F.
Schedules Supporting Items of This Report

F-1
Item 6. Part III - Compensation and other related information for the Officers and Directors of FirstEnergy and its subsidiaries.

F-2
Consolidating Financial Statements of Jersey Central Power & Light Company for 2004.

Consolidating Financial Statements of Metropolitan Edison Company for 2004.

Consolidating Financial Statements of Ohio Edison Company for 2004.

Consolidating Financial Statements of Pennsylvania Electric Company for 2004.

Consolidating Financial Statements of Pennsylvania Power Company for 2004.

Consolidating Financial Statements of The Cleveland Electric Illuminating Company for 2004.

Consolidating Financial Statements of The Toledo Edison Company for 2004.

Consolidating Financial Statements of FirstEnergy Facilities Services Group, LLC for 2004 - filed pursuant to request for confidential treatment.

Consolidating Financial Statements of Elliott-Lewis Corporation for 2004 - filed pursuant to request for confidential treatment.

Consolidating Financial Statements of E-L Enterprises, Inc. for 2004 - filed pursuant to request for confidential treatment.

Consolidating Financial Statements of FirstEnergy Solutions Corp. for 2004 - filed pursuant to request for confidential treatment.

Consolidating Financial Statements of FirstEnergy Ventures Corp. for 2004 - filed pursuant to request for confidential treatment.

Consolidating Financial Statements of GPU Capital, Inc. for 2004 - filed pursuant to request for confidential treatment.

Consolidating Financial Statements of GPU Diversified Holdings, LLC. for 2004 - filed pursuant to request for confidential treatment.

Consolidating Financial Statements of MARBEL Energy Corporation for 2004 - filed pursuant to request for confidential treatment.


132

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Continued):

Exhibits

F-2
Consolidating Financial Statements of MYR Group Inc. for 2004 - filed pursuant to request for confidential treatment.

Consolidating Financial Statements of Harlan Electric Company for 2004 - field pursuant to request for confidential treatment.

F-3
Item 8. Part I - Affiliated Transactions for 2004.

H
Organization Chart - EWG and FUCO

H-1
Organizational chart showing the relationship of FirstEnergy Generation Corp. to each exempt wholesale generator (EWG) in which it holds an interest.

H-2
Organizational chart showing the relationship of GPU Power, Inc. to each exempt wholesale generator (EWG) in which it holds an interest.

H-3
Organizational chart showing the relationship of GPU Capital, Inc. to each foreign utility company (FUCO) in which it holds an interest.

I
Financial Statement - EWG and FUCO

I-1
Financial Statements of FirstEnergy Generation Corp. for 2004 - filed pursuant to request for confidential treatment.

Consolidating Financial Statements of GPU Power, Inc. for 2004 - filed pursuant to request for confidential treatment.







133









SIGNATURE



The undersigned system company has duly caused this annual report to be signed on its behalf by the undersigned thereunto duly authorized pursuant to the requirements of the Public Utility Holding Company Act of 1935.
 
 

     
 
 
 
 
 
 FIRSTENERGY CORP.
 
Date:  April 28, 2005 By:     /s/  Harvey L. Wagner
 
        Harvey L. Wagner
 
  Vice President, Controller
 and Chief Accounting Officer
(Principal Accounting Officer)

 
134