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Mayor: Century’s Gas Department Might Be For Sale – If The Price Is Right
April 19, 2018
Century’s Mayor said Wednesday that the town’s gas department might be for sale — if the price is right.
The Escambia County Commission voted Tuesday night to renew the town’s exclusive gas franchise area until 2047 amid protest from Pensacola Energy, which says it received a franchise in the same area from ECUA back in the early 1990’s. Pensacola Energy serves about 50 customers withing the disputed Century natural gas franchise area, and has offered to sell those customers to Century for a half million dollars, according to Century’s attorney Matt Dannheisser.
“We are working both ends. If they buy it, we’ve got to come up with a nominal price that is beneficial for the town. We’ve got to look at 20-30 years down the road and the revenue that we could have been getting,” Hawkins said Wednesday of any possible sale to Pensacola Energy.
Hawkins said the town’s gas consultant, Florida Gas Utility (FGU), will be working on determining a fair price for the gas system.
“He (Dannheisser) and I have kicked a number around, but we’ve got to see what FGU says. Their number may be higher than ours,” Hawkins said.
The franchise ordinance approved by the county commission gives Century 120 days to accept.
For a previous story with more details, click here.
Pictured top: Century Correctional Institution is the Town of Century’s larger natural gas customer. NorthEscambia.com photo, click to enlarge.
Comments
5 Responses to “Mayor: Century’s Gas Department Might Be For Sale – If The Price Is Right”
It seems I can remember for years that Gas was considered to be Centurys saving grace.
Wonder where it changed along the line.
Seems odd he would publicly announce the plans, what happened to shade? Hold those Aces.
I don’t know the financial situation of the gas department but I do know the less Century controls the less chance of us remaining a town. If it’s a steady stream of revenue why not see how we can take advantage of the franchise and make it profitable before we consider selling it. A lump some of money is nice in the beginning but if it’s not managed well it can be depleted quickly.
The strategy unfolds.
Should have known the town had no intention of actually doing something to provide a service and bring in a steady flow of revenue.