October 24, 2015 |
Philadelphia Gas Works could save as much as $9.4 million a year, mostly by switching more of its natural gas supplies from the Gulf Coast to less expensive Pennsylvania producers, according to a state audit released Thursday. The audit, commissioned by the Pennsylvania Public Utility Commission, said PGW could save $6 million to $7 million a year by buying 60 percent of its gas from the Marcellus Shale region, up from 33 percent last year. Before 2013, the PGW secured all of its supply from Louisiana and Texas.
July 11, 2015 |
American Water Works Company, Inc. of Voorhees on Thursday completed its acquisition of Marcellus Shale water-service provider Keystone Clearwater Solutions of Hershey, Pa. The acquisition, announced in June, values Keystone at $130 million. American is acquiring 95 percent of the stock for $123.5 million. Keystone, founded in 2009, is owned by Rex Energy Corp., a shale-gas producer based in State College. Rex Energy's 60-percent share of the company will generate net proceeds of $66 million, which it says it will use to reduce debt and for general corporate purposes.
May 18, 2015 |
Four years into Pennsylvania's much-heralded Era of Electric Choice, it's time to assess. Is it worth switching electricity suppliers? Maybe. Picking plans and suppliers is a gamble, as many discovered, to their dismay, during last year's chilling polar vortex. Since then, the state Public Utility Commission has toughened the rules, to make it harder for shady operators. But never underestimate the creativity of dishonest people. If you follow a few simple rules and filter out most of the noise, I've discovered, there are ways to achieve tortoise-like savings, without much sweat.
May 6, 2015 |
One of five Pennsylvania electricity suppliers charged with deceptive practices after last year's round of wild winter price spikes has agreed to pay nearly $2 million in refunds and penalties. HIKO Energy L.L.C., a New York state supplier, agreed to the payments in a settlement with Attorney General Kathleen G. Kane and acting Consumer Advocate Tanya J. McCloskey. HIKO also agreed to cease accepting any new Pennsylvania customers through June 30, 2016, and to change its marketing practices to fully disclose the risks of variable-rate electricity plans.
April 4, 2015 |
Alexander Danta curled his frame around a cluttered wooden table in his Jewelers' Row workshop to inspect his latest handiwork, a diamond-and-ruby wedding band that nested in his meaty palm like a newborn chick. Raising the delicate ring to the window, he tipped it slightly to catch the light, revealing an acanthus vine he had just etched on the side, perhaps a centimeter wide and sharp as a line of type. Danta is a master engraver, among the last in Philadelphia to work exclusively with hand tools, and his studio was the custom-made ring's latest stop on its journey through the Jewelry Trades Building at Eighth and Sansom Streets, a six-story beehive filled with designers, casters, polishers, and stone-setters.
February 27, 2015 |
Wednesday brought yet another dramatic twist in the long and tortured bankruptcy case of Revel Casino Hotel. Revel's utility supplier - saying it is owed more than $20 million since June and stands to get nothing from the latest deal with Glenn Straub - asked the judge to put a liquidating trustee in charge. "The debtors and their secured lenders have been afforded nearly free rein over these cases and the debtors' assets since the petition date, with absolutely nothing to show for it," the ACR Energy Partners L.L.C.
December 10, 2014 |
An overseas supplier of food and water to U.S. troops in the deserts of Afghanistan on Monday pleaded guilty in what a federal prosecutor in Philadelphia called a case of "war profiteering," and paid $389 million in fines, damages, and penalties. From July 2005 until April 2009, Supreme Foodservice GmbH and an affiliated company in the United Arab Emirates overcharged the U.S. military by $48 million for water and fresh fruit and vegetables delivered to bases in Afghanistan, according to charges by the U.S. attorney for the Eastern District of Pennsylvania.
September 13, 2014 |
Four news organizations, including The Inquirer, filed a motion in federal court Thursday seeking the name of the firm contracted to provide the drugs Pennsylvania would use in an execution by lethal injection scheduled for this month. The state has said the compounding pharmacy it contracted to supply the drugs would likely refuse to do so if its name were made public, according to the court papers filed in Harrisburg. In the motion filed by the American Civil Liberties Union, The Inquirer, Guardian US, the Pittsburgh Post-Gazette, and Philadelphia City Paper said recent botched executions in other states "have greatly increased the public's interest in lethal injection executions.
June 20, 2014
C ARLOS R. VEGA, 32, of Center City, is founder and CEO of startup Tesorio, an online marketplace that helps buyers and suppliers with cash management. Vega, a citizen of both Panama and the United States, is a recent Wharton grad with a masters in business. Tesorio was accepted into the Wharton Venture Initiation Program, which provides office space and other help for startups. Q: How did you come up with the idea for Tesorio? A: Access to financing can be tedious for small businesses.
June 6, 2014 |
New Jersey officials announced civil suits against three competitive energy suppliers Wednesday, alleging the marketers deceived consumers with promises of low utility rates and then hit them with huge bills. The state says Palmco Power NJ L.L.C., Hiko Energy L.L.C., and Systrum Energy raised prices sharply on thousands of customers last winter. Palmco and Hiko were also accused of "slamming" customers - signing them up without their consent. "These three companies allegedly lured consumers with promised monthly savings that turned out to be fictional," said Acting Attorney General John J. Hoffman.