Maryland American Water Receives Commission Approval for Acquisition of Severn Water Company
02 Octubre 2024 - 3:31PM
Business Wire
Maryland American Water announced today it has received approval
from the Maryland Public Service Commission (PSC) to acquire the
drinking water assets of the Severn Water Company for approximately
$1.6 million. This acquisition is the first to be completed by
Maryland American Water under the fair market value legislation
enacted by the Maryland General Assembly in 2018.
“We are pleased with the PSC’s order and look forward to
welcoming the 1,685 customers previously served by the Severn Water
Company to Maryland American Water in the near future. They will
benefit from our company’s stellar record of performance in water
quality and safety,” said Barry Suits, president of Maryland
American Water. “Our commitment to continuously investing in
necessary capital improvements is a priority for the experienced
team we rely on to deliver water service that is clean, safe,
reliable and affordable,” Suits continued.
Severn Water Company signed an agreement to sell to Maryland
American Water in November of 2023, based on the need to bring
additional experience and expertise in water management to its
drinking water system. Maryland America Water takes a proactive
approach to maintaining infrastructure and, in 2023 alone, invested
$3.5 million in improvements for its system serving the Town of Bel
Air.
“Selling to Maryland American Water is the right decision for
the Severn Water Company. Maryland American Water has a long
history in the state, providing drinking water to the town of Bel
Air since the 1930s. As a partner, we know they have the expertise
needed to continue operating this system,” said Stephanie Metz, a
representative for Severn Water Company.
Maryland American Water will be sending information to customers
served by Severn Water Company, including how to enroll in MyWater,
the company’s online customer portal, as well as other customer
service programs and benefits. The company also provides bill
paying assistance programs, conservation tips and more.
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. For more information, visit amwater.com and
join American Water on LinkedIn, Facebook, X and Instagram.
About Maryland American Water
Maryland American Water, a subsidiary of American Water,
provides high-quality and reliable water services to approximately
21,000 people. For more information, visit www.marylandamwater.com
and follow Maryland American Water on X and Facebook.
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version on businesswire.com: https://www.businesswire.com/news/home/20241002231399/en/
Media: Marybeth Leongini External Affairs Manager
marybeth.leongini@amwater.com