PGW Sale – The Facts are the Facts. Fact Number One - UIL inability to guarantee continuing low-income programs beyond the first three years. Currently, 100,000 low-income people and seniors get reduced rates from the utility; those rates are subsidized by the rest of the 500,000 customer base. What are these 100,000 low –income people and senior going to do three years from now when Mayor Nutter isn’t even in elected office? Read more at philly/philly/opinion/20141029_DN_Editorial__GAS_DECISION_LEAKS_SENSE__Council_s_bad_and_suspicious_move_leaves_the_rest_of_us_out_in_the_cold.html#IWsVwA0qdrXiMUr7.99 Fact Number Two – Virtually all l financial experts and critics say it is only a matter of time before a profit-generating business will need to extract savings from PGW’s operations - or raise rates - to satisfy its shareholders. Read more at post-gazette/powersource/latest-oil-and-gas/2014/03/03/Deal-announced-to-sell-PGW-for-1-86-billion-1/stories/201403030198 Eventual Termination of Union employment - Even Mayor Nutter concede that the contract signed by UIL requires that all PGW employees be offered employment at UIL. If an employee decides to retire or accept a job elsewhere, that position may go unfilled, but total employment may not dip below 1,350 employees for at least three years. What happens years from now Mayor Nutter isn’t even in elected office? post-gazette/powersource/latest-oil-and-gas/2014/03/03/Deal-announced-to-sell-PGW-for-1-86-billion-1/stories/201403030198 Short Term gain – Long Term loss of job and a valuable asset - The sale, if approved by City Council and the Pennsylvania Public Utility Commission, would end the city’s 178-year ownership of PGW, the nation’s largest municipally owned gas utility. PGW has been restored to stability in the last decade after a close call with financial ruin. Reject the deal!!!!
Posted on: Mon, 10 Nov 2014 22:32:26 +0000