Council Won’t Finish PGW Sale Review Before Recess

Now UIL Holdings must decide if it will stick with the deal.

When City Council ends its spring session today, it will leave one major piece of unfinished business behind: Whether or not to approve the sale of Philadelphia Gas Works to a Connecticut company.

As CBS Philly reports: “With Council adjourning today until the fall, that means Council won’t be holding a public hearing on the PGW sale until long after July 15th, the date on which the prospective buyer, UIL Holdings of Connecticut, could opt out of the deal.”

Council President Darrell Clarke said council won’t formally consider Mayor Nutter‘s proposed sale until it hears from its own consultant.

“We don’t anticipate doing that,” Clarke said of formal proceedings starting soon. “This being the most significant municipal transaction probably in the history of the City of Philadelphia, it’s more important for us to get an accurate assessment of the proposal to make an intelligent and informed decision.”

Michael West, a spokesman for UIL, says no decision has been made.

“Our objective is to wait and see what happens, and then we’ll certainly have to make some decisions and determinations. We’re taking this a day at a time. Certainly there are parameters and milestones included in the deal for a reason,” he said. (CBS Philly)