• Learn about the conditions that led to Frank Furness' most incredible masterworks, including the Pennsylvania Academy of the Fine Arts seen here, on Wednesday.
      Learn about the conditions that led to Frank Furness' most incredible masterworks, including the Pennsylvania Academy of the Fine Arts seen here, on Wednesday.

PGW selling for $1.86 billion [roundup]

Philadelphia Gas Works, the largest municipally owned gas utility in the nation, is ever closer to privatization. Here's a roundup of news related to this big possible sale:

The Sale:

 

Marcellus Shale + PGW Sale:

  • Should PGW become privatized it is likely to take advantage of Pennsylvania's shale gas. Now Philly uses gas piped in from the Gulf of Mexico, despite Pennsylvania's record growth in gas production, in part because PGW currently can’t collaborate with private companies on a new pipeline. UIL would be able to connect Philadelphia with the natural gas extraction in Pennsylvania’s Marcellus Shale region, which could also help UIL reposition PGW’s liquid natural gas (LNG) facilities on the waterfront. PGW uses these facilities for storage but UIL is thinking about expanding them to supply fuel for ships or trucks. [StateImpact PA]
  • Michael Krancer, a former secretary of the Pennsylvania Department of Environmental Protection, predicts that Philadelphia will become the “Silicon Valley of energy” if it gets the PGW sale right. Pennsylvania now ranks third in natural gas production – behind only Texas and Louisiana – creating opportunities for Philadelphia to be a hub for shale gas. Krancer also sees the potential for PGW’s LNG facilities as part of energy supply networks under private ownership – particularly given the explosive growth in shale gas production in the state – which could mean more jobs. [Forbes]


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