8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                              -------------------

                                    FORM 8-K

                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934




Date of Report (date of
earliest event reported):                 October 19, 1998



Commission     Registrant, State of Incorporation,           I.R.S. Employer
File Number    Address and Telephone Number                  Identification No.
- -----------    ----------------------------                  ------------------

1-6047          GPU, Inc.                                      13-5516989
                (a Pennsylvania corporation)
                300 Madison Avenue
                Morristown, New Jersey 07962-1911
                Telephone (973) 455-8200


1-3141          Jersey Central Power & Light Company           21-0485010
                (a New Jersey corporation)
                2800 Pottsville Pike
                Reading, Pennsylvania 19640-0001
                Telephone (610) 929-3601


1-446           Metropolitan Edison Company                    23-0870160
                (a Pennsylvania corporation)
                2800 Pottsville Pike
                Reading, Pennsylvania 19640-0001
                Telephone (610) 929-3601


1-3522          Pennsylvania Electric Company                   25-0718085
                (a Pennsylvania corporation)
                2800 Pottsville Pike
                Reading, Pennsylvania 19640-0001
                Telephone (610) 929-3601









ITEM 5.     OTHER EVENTS.
            -------------

            As previously reported,  on July 17, 1998, GPU entered into a letter
of intent with AmerGen Energy Company LLC  ("AmerGen"),  a joint venture of PECO
Energy Company and British Energy  Company,  setting forth the general terms and
conditions  for the sale to AmerGen of the Three Mile  Island Unit No. 1 nuclear
generating station ("TMI-1") for a purchase price of approximately $100 million,
subject  to  certain  adjustments.  TMI-1 is owned  by  GPU's  electric  utility
subsidiaries in the following percentages:  Jersey Central Power & Light Company
- - 25%;  Metropolitan  Edison Company - 50%; and Pennsylvania  Electric Company -
25%. The letter of intent  provided  for a 90-day  period  during which  AmerGen
would  complete its due diligence  review of TMI-1 and the parties would attempt
to negotiate definitive transaction agreements.
            On October 15,  1998,  the GPU  companies  and AmerGen  entered into
definitive  agreements for the sale of TMI-1.  The closing of the transaction is
subject to the  receipt  of  various  federal  and state  regulatory  approvals,
including from the Nuclear Regulatory Commission,  the Federal Energy Regulatory
Commission, the New Jersey Board of Public Utilities and the Pennsylvania Public
Utility Commission.
            A copy of GPU's related news release is annexed as an exhibit.






ITEM 7.     FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
            ---------------------------------------------------------
            EXHIBITS.
            ---------

      (c)   Exhibits

            1.     GPU News Release, dated October 19, 1998.







                                    SIGNATURE

      PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934,
THE REGISTRANTS HAVE DULY CAUSED THIS REPORT TO BE SIGNED ON THEIR BEHALF BY
THE UNDERSIGNED THEREUNTO DULY AUTHORIZED.


                              GPU, INC.
                              JERSEY CENTRAL POWER & LIGHT COMPANY
                              METROPOLITAN EDISON COMPANY
                              PENNSYLVANIA ELECTRIC COMPANY



                              By:   /s/ T. G. Howson
                                   -----------------------------
                                    T. G. Howson, Vice President
                                    and Treasurer


Date:   October 22, 1998

EX-99

                          EXHIBIT TO BE FILED BY EDGAR
                          ----------------------------



(c) 1.     GPU News Release, dated October 19, 1998.

EX-99

                                                                 Exhibit (c) 1


GPU News Release
October 19, 1998

Due Diligence Completed On TMI Unit One, GPU, AmerGen Energy Reach Definitive
- -----------------------------------------------------------------------------
Agreement
- ---------

First Of Its Kind Nuclear Plant Sale Moves A Step Closer To Completion

MIDDLETOWN, Pa. -- October 19, 1998 -- In a major step forward toward completion
of the sale of its Three Mile Island (TMI) Unit 1 Nuclear  Generating  Facility,
GPU,  Inc.  (GPU)  announced  today it has signed a  definitive  asset  purchase
agreement with AmerGen Energy Company,  owned jointly by PECO Energy Company and
British Energy.

The  definitive  agreement  marks the  successful  completion of three months of
on-site due diligence by a team of PECO Energy and British Energy personnel. The
asset purchase  agreement  replaces the letter of intent signed when the process
for the sale of the plant was begun on July 17.

While there still are several significant  regulatory approvals necessary before
the sale can be completed,  the transaction  would mark the first ever sale of a
nuclear power plant in the United States.

Agencies which must approve the sale include the Nuclear Regulatory  Commission,
Federal  Energy  Regulatory  Commission,  Securities  and  Exchange  Commission,
Pennsylvania Public Utility Commission and New Jersey Board of Public Utilities.
Target date for final regulatory approvals is mid-year 1999.

Until the sale is completed,  GPU will continue to be fully  responsible for the
operation  of Unit 1. The sale does not  include the shut down TMI Unit 2, which
will continue to be owned by GPU.

"This  agreement  advances  GPU's  strategy  of  growing  in the  infrastructure
business  and exiting the  merchant  generation  business,"  said Fred D. Hafer,
chairman,  president  and CEO of GPU.  "It is also good for TMI Unit 1 to become
part of an  organization  that is going  to  become  a major  nuclear  operating
company."

"We are very pleased at the positive results of due diligence," said
Dickinson Smith, AmerGen CEO.  "We look forward to working with GPU Nuclear
and its employees during the transition.  I see a bright future for TMI Unit
1 and for AmerGen."

Dr. Robin Jeffrey, president of AmerGen and British Energy's executive director,
North America, said, "We promised our shareholders a well thought out deal which
would add value. I believe due diligence has confirmed we have it. I'm confident
that British Energy, working with our U.S. partners, can play a significant role
in the developing competitive electric market."

AmerGen was formed last year as a joint venture by PECO Energy, of Philadelphia,
Pa., and British Energy,  of Edinburgh,  United Kingdom (U.K.),  to purchase and
operate  nuclear plants in the U.S. Both have a strong  commitment to the future
of  nuclear  power and share  similar  operational  cultures  involving  people,
processes, safety and reliability.

The definitive  agreement  affirms the sale price of $100 million -- $23 million
for the  reactor  and $77  million,  payable  over five  years,  for the plant's
nuclear  fuel.  The ultimate  sale price will be partly  determined  by possible
additional  payments  depending  on the actual  energy  market  clearing  prices
through 2010.

AmerGen will assume full  responsibility for the  decommissioning of TMI Unit 1,
which will be prefunded by GPU up to $320 million.

The  agreement  includes a power  purchase  agreement in which GPU Energy,  GPU,
Inc.'s  regulated  energy  delivery  subsidiary,  will  purchase  the energy and
capacity from TMI Unit 1 from closing through December 31, 2001.

TMI Unit 1 has one of the highest  capacity  factors of any nuclear plant in the
world and twice set world records for continuous days of operation. Earlier this
year,  GPU Nuclear  received  the Utility  Achievement  Award from the  American
Nuclear Society for its achievements at TMI.

PECO  Energy  is an  electric  and gas  utility  serving  1.5  million  electric
customers in the five-county Philadelphia area and 400,000 natural gas customers
in four suburban counties.  It is one of the nation's largest nuclear utilities,
producing  more than 34 billion kwh of  electricity  in 1997 at its Limerick and
Peach Bottom generating  stations.  PECO Energy has set new nuclear  performance
standards in safety,  availability  and capacity  factors,  efficient  refueling
outages and low operating and maintenance costs.

The company also owns and operates  coal,  natural  gas,  oil,  landfill gas and
hydro power plants.  PECO Energy's  Power Team operates a 24-hour energy trading
floor with transactions in 47 states and Canada.

British Energy  provides over 20 percent of Britain's  electricity and it is the
U.K.'s  largest  generator.  It is the owner and  operator  of 15 nuclear  power
reactors  in the U.K.,  with 9,600  megawatts  of  generation,  including  seven
advanced  gas-cooled nuclear stations and one pressurized water reactor station.
In July,  1996,  British  Energy was  successfully  privatized  through a public
offering of stock. The company has  distinguished  itself in nuclear  operations
through  its  outstanding  safety  record and by reducing  costs and  increasing
output and profit following privatization.

Headquartered in Edinburgh, Scotland, it has market capitalization of 4bn pounds
and 5,300  employees.  Its shares were the top  performers  in the U.K. FTSE 100
Share Index in 1997-98, a year during which its profits trebled.

GPU, Inc., an electric utility holding company,  recorded  operating revenues of
$4.1 billion in 1997. GPU Energy is the trade name for three  operating  utility
subsidiaries -  Metropolitan  Edison,  Pennsylvania  Electric and Jersey Central
Power & Light - which provide  customer  service,  transmission and distribution
services to nearly 2 million customers in Pennsylvania and New
Jersey.

The  GPU  International   Group  has  ownership  and  interests  in  electricity
distribution  and  supply  business  in England  and  Australia  and  generating
facilities in six foreign  countries.  The company's  generation  operations are
conducted  by GPU  Generation,  Inc. and GPU Nuclear.  Corporate  functions  are
performed by GPU Services.



                                     - XX -


- -----------------------------------------------------------------


Contact:

Ralph DeSantis, (717) 948-8827