JEFFERSONVILLE, Ind.–(BUSINESS WIRE)–Indiana American Water President Matt Prine today announced the company’s acquisition of the River’s Edge water and wastewater systems in southeast Indiana. The purchase of the system from Wastewater One, LLC, adds approximately 100 water and 80 wastewater customers to the company’s customer base, which represents a population of nearly 300 residents.
“The acquisition of this system will help hold rates down for River’s Edge customers as needed investments are made and also provide 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 and wastewater 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 River’s Edge acquisition marks the third purchase of a wastewater system in the last three years by Indiana American Water. The company provides water service to approximately one in five residents across the state and owns and operates five wastewater systems in Indiana.
According to Wastewater One President Stephen Tolliver, “River’s Edge 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 and wastewater rates lower than they would have been as a small stand-alone system.”
The acquisition of the River’s Edge water and wastewater systems for $420,000 was approved by the Indiana Utility Regulatory Commission in June and closed by Indiana American Water and Wastewater One on Thursday, August 12, 2021. The River’s Edge systems will be incorporated into the company’s Southern Indiana Operations district, which serves more than 100,000 residents.
About Indiana American Water
Indiana 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 1.32 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 7,000 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to 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.
Contacts
Media:
Joe Loughmiller
317-885-2434
joe.loughmiller@amwater.com
