STOCK TITAN

Pennsylvania American Water and Royersford Borough Invite Customers to Participate in Telephonic Public Input Hearing on Wastewater System Acquisition

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
conferences acquisition
Rhea-AI Summary

Pennsylvania American Water and Royersford Borough are set to discuss the proposed acquisition of the Royersford Borough wastewater system assets. Currently, the system serves around 1,600 customers in Montgomery County. The Borough officials approved the sale in December 2019, with proceeds aimed at supporting local economic needs. A public input hearing is scheduled for January 7, 2021, at 6 p.m. via a conference call. Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), serves approximately 2.4 million people in Pennsylvania.

Positive
  • Acquisition aligns with local economic priorities.
  • Proceeds from the sale will fund long-term needs of the Borough.
  • Pennsylvania American Water already operates in the area, ensuring seamless service integration.
Negative
  • None.

Pennsylvania American Water and Royersford Borough will join the Pennsylvania Public Utility Commission (PUC) to hear public comment on Pennsylvania American Water’s recent application to acquire the Royersford Borough wastewater system assets. Royersford’s system serves approximately 1,600 wastewater customers in Montgomery County, and Pennsylvania American Water is already the water provider in the area. According to Borough officials who agreed to the wastewater system sale in December 2019, the proceeds of the sale will support local economic priorities and fund the long-term needs of the Borough. Additional details about the proposed acquisition and potential future rate impact were included in a notice mailed to all Pennsylvania American Water customers and all current Royersford Borough customers in September and October.

The public input hearing is scheduled for Jan. 7, 2021 at 6 p.m. using a telephone conference call platform. If you wish to speak at the public input hearing, please contact the Pennsylvania Office of Consumer Advocate (OCA) at 1-800-684-6560 by Jan. 6, 2021 to register as a witness. If you do not register in advance, you may not be able to testify. If you have any questions, please do not hesitate to call the OCA. At the public input hearing time, the call-in number to participate will be 1-800-231-0316. If you are testifying, please call in 10-15 minutes before the hearing starts so the moderator can give instructions and test the audio.

About Pennsylvania American Water

Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), is the largest investor owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 2.4 million people. With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 6,800 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to an estimated 15 million people in 46 states. American Water provides safe, clean, affordable and reliable water services to our customers to make sure we keep their lives flowing. For more information, visit amwater.com and follow American Water on Twitter, Facebook and LinkedIn.

FAQ

What is the purpose of Pennsylvania American Water's acquisition of the Royersford Borough wastewater system?

The acquisition aims to support local economic priorities and fund the long-term needs of Royersford Borough.

When is the public input hearing regarding the wastewater system acquisition?

The public input hearing is scheduled for January 7, 2021, at 6 p.m.

How many customers are served by the Royersford Borough wastewater system?

The Royersford Borough wastewater system serves approximately 1,600 customers.

Who currently operates the water services in Royersford?

Pennsylvania American Water is currently the water provider in Royersford.

What is the stock symbol for Pennsylvania American Water?

The stock symbol for Pennsylvania American Water is AWK, as it is a subsidiary of American Water.

American Water Works Company, Inc

NYSE:AWK

AWK Rankings

AWK Latest News

AWK Stock Data

27.05B
194.14M
0.12%
93.7%
1.89%
Utilities - Regulated Water
Water Supply
Link
United States of America
CAMDEN