Essential Utilities to Buy City of Beaver Falls Municipal Wastewater Assets
October 21 2021 - 8:24AM
Dow Jones News
By Michael Dabaie
Essential Utilities Inc. said its Pennsylvania wastewater
subsidiary agreed to acquire the city of Beaver Falls's wastewater
assets for about $41.25 million.
The publicly traded water, wastewater service and natural gas
provider said the pending fair market value transaction is subject
to Pennsylvania Public Utility Commission approval.
Beaver Falls' wastewater system serves about 7,600
customer-equivalents, including residential and commercial
connections. The city currently provides sewer service to customers
of Beaver Falls and seven outlying municipalities.
Essential Utilities said it anticipates the need for about $10
million in infrastructure improvements over the next decade with a
focus on safety, security and treatment plant upgrades.
Beaver Falls is the fifth asset-purchase agreement executed by
Essential's Aqua companies in 2021.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
October 21, 2021 08:09 ET (12:09 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Essential Utilities (NYSE:WTRG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Essential Utilities (NYSE:WTRG)
Historical Stock Chart
From Apr 2023 to Apr 2024