Aqua America announced that its Pennsylvania subsidiary has reached a joint settlement agreement, allowing Aqua to move toward closing its purchase of Limerick Township’s wastewater assets.

The Pennsylvania Public Utility Commission must approve the settlement prior to closing. The system serves approximately 5,400 wastewater connections in Montgomery County.

The transaction will be the second application Aqua Pennsylvania will ask the PUC to consider since the commonwealth enacted Act 12, fair market valuation legislation.

The new law encourages consolidation in a fragmented industry that benefits customers, the environment, and local governments. The legislation allows Aqua and other regulated utilities to pay a fair market value that will benefit customers by leveraging compliance expertise, purchasing power gained through economies of scale and operational efficiencies to benefit local systems’ infrastructure and service.

Source: Company Press Release