Indiana American Water Acquires Sunset Village Water System in Southeast Indiana

Rhea-AI Summary

Indiana American Water has acquired the Sunset Village water system in southeast Indiana for $150,000. The system serves approximately 100 water customers, representing a population of around 270 residents. The acquisition will help hold future rates down for Sunset Village customers and provide access to water professionals, customer service options, and payment methods. Indiana American Water aims to expand its presence across Indiana.

GREENWOOD, Ind.--(BUSINESS WIRE)-- Indiana American Water President Matt Prine today announced the company’s acquisition of the Sunset Village water system in southeast Indiana. The purchase of the system, serving a small community along the Ohio River known as Bushman’s Lake, adds approximately 100 water customers to the company’s customer base, which represents a population of approximately 270 residents.

“The acquisition of this system will help hold future rates down for Sunset Village customers as needed investments are made and also provides access to operations and capital management water professionals and a number of customer service options and payment methods,” said Prine. “Indiana American Water already provides water service to several nearby communities, so this is a good fit for us and a continuation of our efforts to expand our presence across Indiana.”

The acquisition of the Sunset Village water system for $150,000 was approved by the Indiana Utility Regulatory Commission on August 2, 2023 and closed by Indiana American Water and Tina Beckort, the previous owner, on October 31, 2023.

According to Beckort, “Sunset Village customers will benefit from Indiana American Water’s experience and expertise and the company’s large customer base across the state will provide much greater economies of scale and future rate stability by keeping water rates lower than they would have been as a small, stand-alone system.

“The business of providing water is getting more complicated every day, especially for smaller systems like ours that struggle with evolving regulatory issues and not having the scale to gain efficiencies in our operations,” said Beckort. “The sale will also facilitate much needed future improvements to the system and ensure that area residents have the service and water quality they need and deserve.”

About American Water

American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water’s 6,500 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.

As one of the fastest growing utilities in the U.S., American Water expects to invest $30 to $34 billion in infrastructure repairs and replacement, system resiliency and regulated acquisitions over the next 10 years. The company has a long-standing history of executing its core operations, aligned with sustainable best practices, through its commitments to safety, affordability, customer service, protecting the environment, an inclusive workforce and strengthening communities.

American Water has been recognized on the 2023 Bloomberg Gender-Equality Index for the fifth consecutive year, ranked 18^th on Barron’s 100 Most Sustainable U.S. Companies 2023 List, earned the U.S. Department of Homeland Security SAFETY Act designation and U.S. Environmental Protection Agency’s WaterSense® Excellence Award, among additional state, local and national recognitions.

For more information, visit amwater.com and join American Water on LinkedIn, Facebook, Twitter and Instagram.

About Indiana American Water

Indiana American Water, a subsidiary of American Water is the largest investor-owned water utility in the state, providing high-quality and reliable water and wastewater services to approximately 1.4 million people.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231031153607/en/

Media:

Joe Loughmiller

317-885-2434 (office)

317-903-7431 (cellular)

joe.loughmiller@amwater.com

Source: Indiana American Water

FAQ

What company has acquired the Sunset Village water system?

Indiana American Water.

How much did Indiana American Water pay for the acquisition?

$150,000.

How many water customers does the Sunset Village water system serve?

Approximately 100.

What is the population served by the Sunset Village water system?

Around 270 residents.

What benefits will Sunset Village customers gain from the acquisition?

Access to water professionals, customer service options, and payment methods. Future rates will be held down, and water rates will be lower than they would have been as a small, stand-alone system.

When was the acquisition approved and closed?

Approved by the Indiana Utility Regulatory Commission on August 2, 2023, and closed on October 31, 2023.

What are the future plans for the Sunset Village water system?

Future improvements to the system will be facilitated to ensure area residents have the service and water quality they need.