West Virginia American Water Completes Acquisition of Boone-Raleigh PSD Wastewater System
CHARLESTON, W.Va. (Nov. 8, 2023) – West Virginia American Water announced today that it has completed its acquisition of the Boone-Raleigh Public Service District (PSD) wastewater system. This transaction follows several months of detailed review by the Public Service Commission of West Virginia (PSC) following the designation of the PSD as a failing utility under West Virginia State Code § 24-2H-7. As part of the acquisition, West Virginia American Water will offer employment to all current PSD employees while also clearing all debt associated with the system.
Boone-Raleigh PSD wastewater, which serves approximately 380 customers along Rt. 3 in Boone and Raleigh Counties, has experienced a decline in customers and has struggled to maintain adequate service in recent years. The wastewater system is in need of substantial upgrades and infrastructure replacement and has been found in non-compliance with statutory and regulatory requirements. The PSD was no longer able to provide adequate investments into the wastewater system without significantly increasing customer rates, and West Virginia American Water will now step in to provide vital service and essential operational upgrades for those customers at reasonable and affordable rates.
“Over the years, the Boone-Raleigh PSD wastewater system has fallen into disrepair without the adequate investment needed to appropriately serve its customers,” said Robert Burton, president of West Virginia American Water. “Per state law, the PSC investigated the PSD and determined it to be a failing and/or distressed utility. West Virginia American Water participated in the hearing and review process as a capable and proximate utility to acquire the PSD, and we are pleased to serve as the new wastewater service provider for these customers.”
Next steps in the acquisition will include updating and improving infrastructure throughout the system to ensure reliable wastewater service, including significant upgrades to the system’s wastewater treatment plant.
As of today, Boone-Raleigh PSD wastewater customers will become customers of West Virginia American Water, paying the company’s standard rates as set by the PSC. Certain low-income customers may qualify for the company’s customer assistance programs, including a 20 percent discount through the company’s Special Residential Reduced Rate program.
About American Water
With a history dating back to 1886, American Water (NYSE: AWK) is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 6,500 dedicated professionals who provide regulated and regulated-like drinking water and wastewater services to more than 14 million people in 24 states. American Water provides safe, clean, affordable and reliable water services to our customers to help keep their lives flowing.
For more information, visit amwater.com and diversityataw.com. Follow American Water on Twitter, Facebook and LinkedIn.
About West Virginia American Water
West Virginia American Water, a subsidiary of American Water, is the largest investor-owned water utility in the state, providing high-quality and reliable water services to approximately 587,000 people.
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West Virginia 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 services to approximately 587,000 people. For more information, visit www.westvirginiaamwater.com and follow West Virginia American Water on Twitter and Facebook.
CHARLESTON, W.Va. (Nov. 8, 2023) – West Virginia American Water announced today that it has completed its acquisition of the Boone-Raleigh Public Service District (PSD) wastewater system. This transaction follows several months of detailed review by the Public Service Commission of West Virginia (PSC) following the designation of the PSD as a failing utility under West Virginia State Code § 24-2H-7. As part of the acquisition, West Virginia American Water will offer employment to all current PSD employees while also clearing all debt associated with the system.
Boone-Raleigh PSD wastewater, which serves approximately 380 customers along Rt. 3 in Boone and Raleigh Counties, has experienced a decline in customers and has struggled to maintain adequate service in recent years. The wastewater system is in need of substantial upgrades and infrastructure replacement and has been found in non-compliance with statutory and regulatory requirements. The PSD was no longer able to provide adequate investments into the wastewater system without significantly increasing customer rates, and West Virginia American Water will now step in to provide vital service and essential operational upgrades for those customers at reasonable and affordable rates.
“Over the years, the Boone-Raleigh PSD wastewater system has fallen into disrepair without the adequate investment needed to appropriately serve its customers,” said Robert Burton, president of West Virginia American Water. “Per state law, the PSC investigated the PSD and determined it to be a failing and/or distressed utility. West Virginia American Water participated in the hearing and review process as a capable and proximate utility to acquire the PSD, and we are pleased to serve as the new wastewater service provider for these customers.”
Next steps in the acquisition will include updating and improving infrastructure throughout the system to ensure reliable wastewater service, including significant upgrades to the system’s wastewater treatment plant.
As of today, Boone-Raleigh PSD wastewater customers will become customers of West Virginia American Water, paying the company’s standard rates as set by the PSC. Certain low-income customers may qualify for the company’s customer assistance programs, including a 20 percent discount through the company’s Special Residential Reduced Rate program.
About American Water
With a history dating back to 1886, American Water (NYSE: AWK) is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 6,500 dedicated professionals who provide regulated and regulated-like drinking water and wastewater services to more than 14 million people in 24 states. American Water provides safe, clean, affordable and reliable water services to our customers to help keep their lives flowing.
For more information, visit amwater.com and diversityataw.com. Follow American Water on Twitter, Facebook and LinkedIn.
About West Virginia American Water
West Virginia American Water, a subsidiary of American Water, is the largest investor-owned water utility in the state, providing high-quality and reliable water services to approximately 587,000 people.
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West Virginia 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 services to approximately 587,000 people. For more information, visit www.westvirginiaamwater.com and follow West Virginia American Water on Twitter and Facebook.