Council May Debate PGW Sale in October
Looks like City Council is ready to move ahead with its review of Mayor Nutter’s proposed sale of PGW to a Connecticut company.
City Council’s google calendar has blocked off three days at the end of September and five days at the beginning of October for the Committee of the Whole. And while the topic isn’t yet specified, it is expected that those will be the dates of Council’s long-awaited public hearings on the proposed sale of PGW.
Before any hearings, though, Council President Darrell Clarke plans to release two reports written by the consultants hired by Council to parse over the deal.
One report will look at the deal itself, the other studies the broader question of the best use of PGW. The release of both reports could come as early as this coming week. Neither report is expected to include a yea-or-nay opinion on the value of the deal.
Under Nutter’s proposal, UIL would buy PGW for under $2 billion. Profits from the sale would be used to shore up the city’s short-funded pension plan for municipal workers.