PGW files restructuring tariff with Pennsylvania regulators

PHILADELPHIA, July 5, 2002 — The Philadelphia Gas Works (PGW) has taken a major step toward allowing its half million customers to choose their natural gas supplier by filing a restructuring tariff recently in Harrisburg with the Pennsylvania Public Utility Commission (PUC).

The move is in compliance with the Pennsylvania Natural Gas Choice and Competition Act signed by Governor Tom Ridge in 1999. The new tariff will allow customers to choose their own gas supplier as early as September 2003.

Previously, PGW arranged to (1) purchase natural gas supplies from production areas throughout the country, (2) transport the natural gas through long- distance interstate pipelines to Pennsylvania, and (3) deliver the natural gas to homes and businesses through their local distribution system.

Under the Natural Gas Choice Program, customers will have the option to choose another supplier of their natural gas. PGW will continue to deliver the gas through our local distribution pipeline system to homes or businesses. PGW will also continue to read meters and respond to emergencies.

The restructuring is much like that of electricity industry that allows Pennsylvanians to choose their electricity supplier.

“Our customers are extremely important to us,” said Tom Knudsen, Interim President and Chief Executive Officer. “This endeavor will allow them to shop around and find the supplier who best fulfills their natural gas needs.”

PGW is the nation’s largest municipally owned natural gas utility serving a half million residential, commercial and industrial customers. PGW has been Philadelphia’s choice for quality energy solutions since 1836.

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