The Hartford Courant reports that UIL Holdings, the Connecticut company attempting to buy and privatize Philadelphia Gas Works, has spent nearly $20 million on the effort so far — and remains committed to pursuing the deal, despite passing a deadline that would’ve allowed the company to walk away.
CBS Philly reports that the City Council will adjourn for the summer on June 19th without deciding whether to approve the sale of Philaelphia Gas Works to a Connecticut company — even though the company can, under contract, walk away from the deal if it’s not finalized before July 15.
Council President Darrell Clarke said that deadline was agreed to by Mayor Nutter and the company, UIL Holdings. The council had no input. And that’s not the only problem, he says.