For Immediate Release
Contact: Jason Gilham
614 | 466 7750
PUCO approves Aqua Ohio purchase of Ohio American Water
COLUMBUS, OHIO (Feb. 14, 2012) – The Public Utilities Commission of Ohio (PUCO) today approved an agreement allowing Aqua Ohio to purchase 100 percent of the outstanding capital stock of Ohio American Water for a price of approximately $88.5 million.
While it is anticipated that Aqua Ohio will eventually seek PUCO approval to consolidate the operations of the two utilities, Ohio American customers will initially continue to be served by Ohio American at existing rates. Ohio American’s application for a rate increase remains pending before the PUCO.
On Sept. 13, 2011, Ohio American Water and Aqua Ohio filed a joint petition seeking PUCO approval of a stock purchase agreement. On Jan. 27, 2012, Aqua Ohio, Ohio American, the PUCO staff, and the Office of the Ohio Consumers’ Counsel filed a stipulation in the case. The stock transaction remains contingent upon approval by the New York Public Service Commission of the sale of Aqua America’s New York operations to the American Water Works Company, Ohio American’s parent company.
Ohio American provides water service to approximately 50,903 and sewer service to approximately 6,554 customers in Ohio. Aqua Ohio serves approximately 88,000 water customers.
A copy of today’s Commission finding and order is available at www.PUCO.ohio.gov. Click on the link to Docketing Information System and enter the case number 11-5102-WS-ATR.
The Public Utilities Commission of Ohio (PUCO) is the sole agency charged with regulating public utility service. The role of the PUCO is to assure all residential, business, and industrial consumers have access to adequate, safe, and reliable utility services at fair prices while facilitating an environment that provides competitive choices. Consumers with utility-related questions or concerns can call the PUCO Call Center at (800) 686-PUCO (7826) and speak with a representative.
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