Memories of murders seven torrent11/11/2023 “The interconnections, system upgrades and source of supply improvements we will accomplish through this acquisition will greatly benefit area customers, while further promoting regionalization and consolidation of our Montgomery County systems.” is entrusting us with this privilege,” Pennsylvania American Water President Justin Ladner said in the press release. “We look forward to becoming the water service provider for these customers in Lower Providence Township, and we appreciate that the leadership at Audubon Water Co. There is currently no announcement or information about the acquisition on Audubon’s website. “Through this transaction, our growing customer base will benefit from the financial investment needed to deliver necessary infrastructure improvements to secure long-term access to safe drinking water,” Martha Russell, president of Audubon, said in the press release issued by Pennsylvania American. Within the first five years of ownership, the company plans to invest more than $20 million into the system to upgrade aging water infrastructure.” “This improvement will provide a cleaner and more reliable water source for Audubon’s customers as well as sufficient supply to support additional area growth. “Pennsylvania American Water will, over time, interconnect Audubon’s system with Pennsylvania American Water’s Royersford and Norristown systems, eliminating the system’s reliance upon groundwater supply and the need for PFAS-related treatment upgrades,” the company press release stated. The company overview also noted that “construction of new facilities is planned and implemented based on the overall recommendation of the company’s consulting engineers.” However, presuming the PUC approves the sale to Pennsylvania American Water, that decision will soon be made in Mechanicsburg, where Pennsylvania American is based. On May 24, the company implemented “mandatory water conservation measures for all customers served by the Audubon water system.” The measures were implemented, according to the announcement on the website, because “the system is experiencing a short-term supply shortage (total available water supply is not enough to meet maximum system demand) due to the well levels and the increased water use by Audubon’s customers.” It is already interconnected with Pennsylvania American should well levels run low, which occurred this year. gets its water from wells in Audubon and the Valley Forge Corporate Center. As a publicly traded company, due to SEC regulations, we are not permitted to state or speculate on the timing of any future rate filings,” Rahn wrote in response to a MediaNews Group query.Īccording to its website, Audubon Water Co. “After extensively reviewing our investment needs, we file rate cases periodically to seek recovery of these investments so we can continue providing safe and reliable service. According to Audubon’s website, the rate for residents set in April 2022, the latest posted, was $8.6197 per 1,000 gallons of water - a 7.3% increase from April 2021. Pennsylvania American Water will adopt Audubon’s current rates at closing. However the agreement is not completed because it must still be approved by the Pennsylvania Public Utility Commission, and that is unlikely to occur before 2024. The transaction is structured so that an affiliate of Pennsylvania American Water will merge with Audubon, with shareholders of Audubon Water receiving shares of AWK common stock in exchange for all of the issued and outstanding shares of Audubon, and subsequently, Audubon will merge into Pennsylvania American Water. is a private, investor-owned system serving approximately 2,900 customers in Lower Providence Township, Montgomery County, and is located directly between Pennsylvania American Water’s existing Royersford and Norristown water systems, according to the press release. has purchased yet another local water system.Īmerican Water Co., the largest regulated water and wastewater utility company in the United States and of which Pennsylvania American Water is a part, announced the $8 million transaction on Sept. LOWER PROVIDENCE - Pennsylvania American Water Co.
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