Aqua Pennsylvania Takes Steps to Close on Limerick’s Wastewater System Purchase Following Joint Settlement Agreement
June 08 2018 - 4:15PM
Business Wire
Aqua America announced today its Pennsylvania subsidiary has
reached a joint settlement agreement, allowing Aqua to move toward
closing its purchase of Limerick Township’s wastewater assets. The
Pennsylvania Public Utility Commission must approve the settlement
prior to closing. The system serves approximately 5,400 wastewater
connections in Montgomery County.
The transaction will be the second application Aqua Pennsylvania
will ask the PUC to consider since the commonwealth enacted Act 12,
fair market valuation legislation.
The new law encourages consolidation in a fragmented industry
that benefits customers, the environment, and local governments.
The legislation allows Aqua and other regulated utilities to pay a
fair market value that will benefit customers by leveraging
compliance expertise, purchasing power gained through economies of
scale and operational efficiencies to benefit local systems’
infrastructure and service.
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.
Forward-Looking Statements
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 grow its customer
base and to acquire additional 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 Securities and Exchange
Commission. For more information regarding risks and uncertainties
associated with Aqua America's business, please refer to Aqua
America's annual, quarterly and other SEC filings. Aqua America is
not under any obligation — and expressly disclaims any such
obligation — to update or alter its forward-looking statements
whether as a result of new information, future events or
otherwise.
WTRF
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Aqua AmericaBlair MeadowcroftO: 610-645-4213M:
856-693-7946BMeadowcroft@AquaAmerica.comorBrian
DingerdissenInvestor RelationsO:
610-645-1191BJDingerdissen@AquaAmerica.com
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