Connecticut Firm Reportedly Wins PGW Sale
The Daily News reports that a winning bidder has been selected in the sale of Philadelphia Gas Works by the city.
MAYOR NUTTER’S administration has selected UIL Holdings Corp. as the winning bidder for the sale of Philadelphia Gas Works, according to a letter from a lawyer representing a rival bidder that was obtained by the Daily News.
UIL, of New Haven, Conn., is the parent company of United Illuminating Co., Southern Connecticut Gas Co., Connecticut Natural Gas Corp. and Berkshire Gas Co., according to its website.
Administration officials declined to confirm or deny the choice of UIL.
Terms of the sale have not been reported. The sale must be approved by the City Council, and the state Public Utility Commission.