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Customers with a past-due balance will be eligible for up to $800
PHILADELPHIA (May 18, 2020) – Philadelphia Gas Works (PGW) low-income customers who have been impacted by the COVID-19 pandemic and have past-due balances may be eligible for up to $800 through LIHEAP’s (Low Income Home Energy Assistance Program) Recovery Crisis Program. Customers are encouraged to assign their funds to the utility that provides heat to their homes.
The program will be open from May 18 through Aug. 31 (or until funding is exhausted). A simplified application process allows customers to apply by mail, the state’s COMPASS website, the Pennsylvania Department of Human Services’ (DHS) website or by visiting PGWORKS.COM/CRISIS. Customers who received LIHEAP grants this past winter are urged to call 215-560-1583 and verbally request the new crisis assistance.
“PGW is pleased that more LIHEAP funding is now available for our customers, many of whom are facing significant hardships due to the COVID-19 pandemic,” said Tyra Jackson, PGW’s Director of Regulatory Compliance. “This funding will ease some concerns for many of our customers who rely on natural gas service for cooking, heat and hot water as they manage through these difficult times.”
Customers only need to be past due on their PGW bill to apply. Service termination notices are not required for customers to be eligible for the additional LIHEAP grants, which are administered by DHS and made possible by the U.S. CARES (Coronavirus Aid, Relief, and Economic Security) Act. The grants are available to both renters and homeowners and do not have to be repaid.
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PHILADELPHIA (May 15, 2020) – Beginning Monday, May 18, Philadelphia Gas Works (PGW) will resume installation of new, modern natural gas main and service lines as part of PGW’s ongoing infrastructure improvement program to deliver safe, reliable service to City residents and businesses.
PGW had limited some construction in accordance with Gov. Tom Wolf’s initial COVID-19 stay at home orders, which have since been amended to allow construction. As work resumes on dozens of projects in City neighborhoods, PGW crews will strictly follow all state and federal safety guidelines to reduce exposure to and the spread of COVID-19. This includes enhanced personal protective equipment and social distancing when PGW employees enter customers’ homes.
PGW is notifying residents in advance of all projects about the scope and duration of construction in their respective neighborhoods. Residents are invited to visit pgworks.com/worksites to view work locations on PGW’s Pipeline Improvement Map. The map gives customers the options to search by address and zip code to see precisely where work is being done, the current status of the job, and when construction is expected to be completed.
Crews will work Mondays through Fridays, between the hours of 7 a.m. and 3:30 p.m., unless otherwise noted. Vehicular traffic and access to parking may be redirected in the vicinity of the worksites, if necessary. When main and service line installations are complete, PGW will immediately backfill open trenches and restore paving impacted by the work.
The following page lists current and scheduled PGW construction projects. For information about PGW’s main replacement program, construction schedules and locations, visit https://worksites.pgworks.com/home.
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Fitch affirms PGW’s bond rating at BBB+, while Moody’s says PGW’s outlook is “stable”
Philadelphia Gas Works’ (PGW) bond rating outlook by Fitch Ratings has improved to “positive” from “stable.” Fitch also affirmed PGW’s bond rating at BBB+.
Fitch noted that PGW’s “strong operating risk profile assessment is based on PGW's well-identified cost drivers (including labor costs and contracted purchases for natural gas supply), an ability to manage costs with shifts in demand, and manageable capital pressures.” The analysis also stated that “Fitch assesses PGW's financial profile to also be strong reflecting historically stable financial results that have improved over the past two years, leading to a lower leverage ratio of 5.1x in 2019.”
In addition, PGW’s bond rating from Moody’s Investors Services was affirmed at A3 with a stable outlook. In its ratings rationale, Moody’s noted that PGW has “sound management that has enhanced PGW's operating efficiencies and resulted in recurring cost savings that have led to a more stable and more predictable financial position that is expected to be maintained.”
“PGW’s positive bond outlook from Fitch and Moody’s rating affirmation reflects our longstanding efforts to manage costs and provide safe, reliable, and affordable gas service for residents and businesses in the City,” said Craig White, President and CEO of PGW. “Our focus is to continue to operate safely and efficiently while investing in new infrastructure that ensures service reliability for years to come.”
In recent years, PGW has implemented a number of initiatives that reduced costs, increased efficiency and explored new income streams. Among these initiatives are PGW’s Long Term Infrastructure Improvement Program (LTIIP) for service reliability, and a proposed public-private partnership with Passyunk Energy Center LLC to market and sell liquefied natural gas, which has the potential to be a new revenue source. The project also proposes installing solar panels to help lower energy costs and reduce the net emissions of the new liquefier.
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Page 53 of 82 pages.