The long saga of trying to sell Philadelphia Gas Works, the largest city-owned gas utility in the country, could be moving forward next month.
Philadelphia City Council President Darrell Clarke and his colleagues are reviewing a consultant’s report about the benefits of selling PGW.
“We’re coming to a conclusion on the report and a review by the members of council,” Clarke said. “I anticipate by mid-October there will be a public statement/document or process outlined by the council of the city of Philadelphia.”
Clarke said he’s not surprised that proposed buyer, UIL Holdings Corp., is running commercials to garner public support for the sale. The Connecticut-based company has offered $1.86 billion for the utility.
“They are very interested in purchasing this very valuable asset,” he said. “I heard a commercial, it was quite interesting.”
In the ad, UIL promises to rebuild PGW’s aging infrastructure more quickly than the city can afford to.