PUC Approves Aqua Pennsylvania’s Acquisition of Limerick Wastewater System
The transaction, which is expected to occur in the next several weeks, falls under the recently enacted Act 12, which allows municipalities that own water and wastewater systems to sell their systems to regulated public utilities at fair market valuation.
Act 12 encourages consolidation in the fragmented water and wastewater industry. Consolidation allows resources to be shared among a larger service area which ultimately benefits utility customers. Through the new legislation, Aqua and other regulated utilities can leverage compliance expertise, purchasing power gained through economies of scale, and operational efficiencies to benefit local systems’ infrastructure and service.
This approval demonstrates the collaboration of all the parties involved
and their long-standing commitment to providing safe and reliable water
and wastewater service at affordable pricing in the commonwealth,
“Pennsylvania officials have been mindful of the important combination of protecting customers’ interests and incentivizing consolidation of nearly 2,500 water utilities that exist in the state,” Franklin said.
Including Limerick, Aqua America has five fair market value asset
purchase agreements in place, with Cheltenham, East Bradford and New
Garden townships in Pennsylvania, and the Village of
Manteno in Illinois, which closed
This release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 including, among
others: the company’s ability to acquire additional municipally owned
water and wastewater systems. There are important factors that could
cause actual results to differ materially from those expressed or
implied by such forward-looking statements including: general economic
business conditions, the successful integration of the customers and the
facilities, the success of the company’s growth efforts including its
ability to utilize Act 12, and other factors discussed in our Annual
Report on Form 10-K, which is on file with the