Michael Krancer, Pennsylvania’s former Secretary of Environmental Protection, writes at Forbes that the city’s sale of PGW could transform Philadelphia into an “energy hub” in the gas industry.
Actually, the sale could have implications that go well beyond Philadelphia. See, PGW is more than a gas delivery utility; it owns LNG facilities along the riverfront. Liquid natural gas is stored for use by consumers and businesses on peak days. PGW’s riverfront facilities make it uniquely equipped to capitalize on Philadelphia’s potential to become a major energy supplier by truck or ship. Philadelphia’s transportation network connects it to the country and the rest of the world.
The new PGW, if it’s in the hands of the right visionaries, can leverage Philadelphia’s location, educational institutions and transportation networks—including its world-class ports. The responsible build-out of those LNG facilities I just mentioned would make Philadelphia a jobs juggernaut, for example. That translates into growth for all to share, jobs, and increased tax revenue for the city and its schools.
Mayor Nutter told an audience last week that a sale announcement is coming soon. A sale would require the approval of City Council and the Pennsylvania Public UtilityCommission.