Piedmont Gas System Rejected
The City of Piedmont is still searching for a buyer to purchase the city’s gas system. According to WEIS Radio, the city council rejected a $4.2 million offer from a Saint Louis based utility holding company, Spire Energy. The city’s current gas system, Piedmont Gas, has been the most profitable utility operated by the city, but it hasn’t seen much profit recently, due to several upgrades.
Councilman Matt Rogers worries that because the system isn’t profitable, it could lose nearly $3 million in value within the next few years. Councilman Rogers made a motion to accept Spires’ offer in addition to a 3% franchise fee, but it failed to receive a “second.”