PHILADELPHIA (AP) — Philadelphia Mayor Michael Nutter is calling the City Council's decision to effectively kill the proposed sale of the city's gas utility a "cop-out."
Council President Darrell Clarke says there was "no appetite" for the proposed $1.86 billion sale of Philadelphia Gas Works to UIL Holdings Corp.
Nutter said in March that the sale would inject $424 million into the city's distressed pension fund, freezing rates for three years and maintaining low-income and senior discount programs while safeguarding pensions.
Union leaders and several environmental organizations opposed the idea.
Nutter told reporters that the council's decision was "quite possibly the biggest cop-out that we've seen in recent legislative history in Philadelphia."
PGW is the nation's largest city-owned gas utility. It has more than half a million customers and more than 1,600 employees.