Nutter Hopes for PGW Sale by Year’s End

Challenges City Council to hold public hearings this fall.


The old deadline is dead. Now there’s a new one.

Mayor Nutter, who failed in his efforts to get a City Council vote on selling PGW to a Connecticut company by a mid-July deadline, now says he hopes for public hearings on the issue this fall — and a final vote on the matter by year’s end.

KYW Newsradio reports on the mayor's comments:

“I would certainly hope that we could see a few things happen over the course of the next few weeks: first and foremost, the release of the Concentric report,” he said. “Obviously after that we’d like to see the introduction of the necessary legislation, and obviously a schedule of proposed hearings, so that we can have a full public engagement, discussion, debate about what I think is the best offer put forward.”

And Nutter said he hopes that Council casts a final vote on the proposed sale by year’s end. “We have a few months. But absolutely I would also like to see final action, positive action on a (PGW) bill before the end of the year. That would be my hope,” he said.

Under the terms of the sale, the city would sell PGW to UIL Holdings, a Connecticut company, for just under $2 billion. Profit from the sale — an expected $500 million — would shore up the pension fund for city workers. City Council is awaiting a report from its own consultant on the issue; the state's Public Utility Commission must also grant its approval of the sale.

Previously: Report: UIL Has Spent $20 Million in Effort to Buy PGW
Previously: UIL Explains Why It Wants to Purchase Philadelphia Gas Works — and What it Intends to Do With It
Previously: Council Won’t Finish PGW Sale Review Before Recess

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  • Enuf already

    Does anyone have the full details on both sides, as I’ve never seen them. My first question is why the city, state and country want to sell what brings in revenue which is much needed. Part of the answer is that they’re not managing anything properly as a business and there’s a lot of theft/fraud/waste/mismanagement. The remainder of my questions are (2) by selling PGW will it bring more revenue into the city? (3) will it be cost effective for the customers or are we going to be paying extra due to the deal and shoring up others banks accounts? (3) where will the money be used — the way they’ve all been spending this is a drop in the bucket and will quickly disappear with the taxpayers getting nothing but the…..put to them and us hearing we need millions for the schools, we need millions for this …for that and we’re taking it from you. The government period is out of control, its become what it was never meant to be