BRYN MAWR, Pa.--(BUSINESS WIRE)--Feb. 1, 2018--
The 2018 State of the Union addressed ways in which companies like Aqua
America (Aqua) can play a role in solving the United States’ crumbling
infrastructure challenges. Aqua’s chairman and CEO confirmed today the
company is prepared and ready to continue investing in and repairing the
country’s aging water and wastewater systems.
“The road to repairing and replacing water and wastewater infrastructure
in the United States should include regulated water utilities that have
access to low-cost capital and whose primary focus is water and
wastewater,” said Chris Franklin. “As one of the largest water and
wastewater utilities, Aqua is poised to answer the call and step in to
make real improvements for communities. Action needs to be taken now.”
The American Society of Civil Engineers issued a 2017 Infrastructure
Report Card, giving U.S. water infrastructure a “D” and wastewater
infrastructure a “D+”. Fixing these problems will require significant
investment but it can be done in a prudent and timely manner. According
to the American Water Works Association, it will cost an estimated $1
trillion to maintain and expand drinking water service to meet demands
over the next 25 years.
A majority of Americans receive their drinking water from one of more
than 51,000 community water systems, managed by local governments. While
many municipally managed systems are well-run, there are many others
that do not have the ability to properly fund necessary upgrades to
their water and wastewater systems. In these instances, Franklin
believes infrastructure investment from regulated water providers can go
to work to revitalize water and wastewater infrastructure throughout the
country.
“My request of Congress for infrastructure investment is to let private
capital be a larger part of the solution,” Franklin said.
Aqua is a leader in partnering with municipalities that are struggling
to maintain their systems, whether because of water quality issues,
critical infrastructure investment needs, or budgetary constraints. By
leveraging compliance expertise, purchasing power and operational
efficiencies, Aqua is able to inject much-needed investment into the
systems and develop the infrastructure required for clean drinking water
and wastewater services.
Over the past five years, Aqua has invested $1.5 billion in
infrastructure improvements, including hundreds of miles of pipe
replacement and plant upgrades to enhance water quality. In 2017, Aqua
spent $450 million on infrastructure projects across its eight-state
foot print helping to ensure safe and reliable water for all customers.
“Regulated utilities like Aqua recognize that the state of the nation’s
infrastructure is a serious issue, and Aqua is committed to being part
of the solution,” said Franklin.
Aqua America is one of the largest U.S.-based, publicly traded water
utilities and serves nearly 3 million people in Pennsylvania, Ohio,
North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia. Aqua
America is listed on the New York Stock Exchange under the ticker symbol
WTR. Visit AquaAmerica.com
for more information.
WTR
View source version on businesswire.com: http://www.businesswire.com/news/home/20180201006673/en/
Source: Aqua America
Aqua America
Stacey Hajdak
Marketing & Communications
610-520-6309
SMHajdak@AquaAmerica.com
