Aqua America announces Pennsylvania PUC approval of Limerick acquisition
Aqua America announced the Pennsylvania Public Utility Commission has approved a joint settlement agreement previously reached between Aqua and the state Office of Consumer Advocate in June, that now allows Aqua Pennsylvania to close its purchase of Limerick Township's wastewater assets. The Limerick system serves approximately 5,400 wastewater connections in Montgomery County. The transaction, which is expected to occur in the next several weeks, falls under the recently enacted Act 12, which allows municipalities that own water and wastewater systems to sell their systems to regulated public utilities at fair market valuation. Including Limerick, Aqua America has five fair market value asset purchase agreements in place, with Cheltenham, East Bradford and New Garden townships in Pennsylvania, and the Village of Manteno in Illinois, which closed July 5. When it completes these acquisitions, the company will welcome approximately 23,000 new customer connections to the Aqua family, the company said.