Good morning. Like our Water Department, PGW represents an essential transfer of $18 million every year to the City. We've seen that privatization of a municipally owned entity almost always accompanies an increase in sales. When they sold their water utility in West Chester and Media, rates doubled for consumers, and in Bristol, Pennsylvania, they tripled.
The sale stipulates that rates cannot increase for three years, but after that, we know exactly what UIL is going to do. They're going to want a return on their investment, and they wouldn't be paying so much if they knew they couldn't make it back.
On top of that, we'll have to pay more. Philadelphians are going to lose a crucial voice if the entity is sold. We'll be giving up the ability to determine what the infrastructure looks like in our own city, but we will have to deal with the decisions made by UIL Holding Corp. Please vote against the sale.