"I think the issue has always been there's never been a willing buyer, because it's always had too many problems associated with it," Phil Goldsmith, who was managing director under former Mayor John F. Street, said of a PGW deal. "But in the last eight years, there has been a lot of cleaning up done at PGW and, who knows - maybe the time is right."
In 2010, the city entered into a $200,000 contract with Lazard Freres & Co. L.L.C. for a feasibility study of selling PGW, compared to retaining ownership.
It's not clear what the Lazard report will recommend, and Nutter declined to offer details.
PGW serves about 500,000 customers, many of them low-income customers whose bills are subsidized by other customers, leading to the highest rates in the state.
City Council President Darrell L. Clarke said he favors selling assets in concept, but PGW would be a complicated deal. Clarke said he did not want to see any jobs lost, and the city would have to find a way to protect the customers who now get financial assistance to keep their heat turned on.
The possible sale of the gas company is part of a broader project, headed by former mayoral candidate Tom Knox, at selling city assets to raise money.
Clarke said that among the potential city assets he could envision selling, the city-owned parking lot beneath LOVE Park is atop the list. Selling the lot would have little impact on city operations and the public, and would have a high return.
"And why are we in that business?" he asked, referring to parking.
In a speech that largely repeated his campaign themes about the need to boost economic development, reduce crime and improve education, Nutter also touted a proposed expansion of the airport, increases in minority participation in city contracts and the burgeoning restaurant scene on North Broad Street, near the Divine Lorraine.
