Resolution 120118
Authorizing the Committee on Transportation and Public Utilities to hold hearings to examine the feasibility of transferring ownership or operations of Philadelphia Gas Works to a private entity.
Introduced by
From the floor
Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.
“Thank you, Mr. President, and thank you, Councilmembers. I'm here to speak to Resolution 120118, examining the feasibility of transferring ownership or operations of Philadelphia Gas Works to a private entity. I'd like to report that JP Morgan markets electric power and owns electricity-generating facilities in Europe and the United States. Private-sector financier power is driving the sale of PGW, an economy platfor…”
Mr. King · Stated Meeting, December 12, 2013 · Dec 12, 2013 · official transcript, this passage
“Thank you, Mr. President. I would like to move Bill No. 120118 to the Suspension Calendar. (Duly seconded.)”
Councilman Johnson · Stated Meeting, December 12, 2013 · Dec 12, 2013 · official transcript, this passage
“It's been moved and properly seconded Resolution 120118 be moved to the Suspension Calendar. All those in favor? (Aye.)”
Council President Clarke · Stated Meeting, December 12, 2013 · Dec 12, 2013 · official transcript, this passage
“The ayes have it, and Resolution 120118 will be placed on the Suspension Calendar. Thank you very much. The motion carries. Mr. Decker, would you please read the title of Resolution 130923. 12/12/13 - STATED - 2ND READING”
Council President Clarke · Stated Meeting, December 12, 2013 · Dec 12, 2013 · official transcript, this passage
“Thank you, President of the City Council. Thank you, Councilmembers. I'm here to address Resolution 120118, examining the feasibility of transferring ownership of operations of Philadelphia Gas Works to a private entity. The purpose -- the proposed sale of PGW in the economy platform whose potential has not been realized will not serve the interest of the City. Private-sector finance is driving this proposal. I think…”
Mr. King · Stated Meeting, December 5, 2013 · Dec 5, 2013 · official transcript, this passage
“Good afternoon, Mr. President and members of the City Council. Thank you. I am here to address the Resolution 120118. I ask are we past the feasibility study stage? Philadelphia Gas Works is the source of Philadelphia's strength and should not be sold. Its management conducts for the best interest of the population. PGW is a great economic platform whose true and real potential has not been realized. PGW can bring th…”
Mr. King · Stated Meeting, November 21, 2013 · Nov 21, 2013 · official transcript, this passage
Status timeline
- Feb 16, 2012Introduced and Ordered Placed On Next Week's Final Passage Calendar · CITY COUNCIL
- Dec 12, 2013READ · CITY COUNCIL
- Dec 12, 2013ORDER THE RESOLUTION PLACED ON NEXT WEEK'S SUSPENSION CALENDAR · CITY COUNCIL
Official documents
Documents open on the City of Philadelphia’s legislative site.
Full text
Read the full text as published
..Title Authorizing the Committee on Transportation and Public Utilities to hold hearings to examine the feasibility of transferring ownership or operations of Philadelphia Gas Works to a private entity. ..Body WHEREAS, Lazard Frères & Co. LLC ("Lazard") recently published a report examining the feasibility and consequences of transferring ownership or operations of Philadelphia Gas Works ("PGW") to a private entity through a sale or long-term lease; and WHEREAS, Lazard concluded that while there can be no guarantee of the ultimate outcome, a valuation analysis indicates that the value expected to be achieved in a strategic sale may well exceed the City's estimate of PGW's liabilities while ensuring the continuance of certain protections currently afforded to PGW customers and employees; and WHEREAS, Such protections include the Senior Citizen Discount Program and all Pennsylvania Public Utilities Commission (PUC) mandated discount programs currently in place, the new negotiated collective bargaining agreement, the maintenance of PGW corporate headquarters or a specified number of PGW employees in Philadelphia for at least three years, the maintenance or establishment of dedicated trust funds for PUC-granted rate recovery of employee benefits, and the assumption of PGW-related other post-employment benefits and pension liabilities; and WHEREAS, It is imperative that City Council and the public are able to examine the findings of Lazard's report and inquire about underlying evidence and details in order to better understand any sale or transfer of PGW to a private entity because such a transaction could have long lasting financial and social implications for the City of Philadelphia and its residents; and WHEREAS, PGW, a 175 year-old utility, is currently owned by the City of Philadelphia, and is a major employer in the City, employing approximately 1,625 people, 1,125 of whom are represented by the Philadelphia Gas Workers Union and enjoy certain employment protections; and WHEREAS, PGW serves 514,000 customers, many of whom are elderly or have limited incomes and thus qualify for, and depend upon, reduced monthly payments through low-income assistance programs the continuation of which is a major priority of the City; now therefore RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the Committee on Transportation and Public Utilities is hereby authorized to hold hearings to examine the feasibility of transferring ownership or operations of Philadelphia Gas Works to a private entity. ..End