GREENWOOD, Ind.--(BUSINESS WIRE)--Indiana American Water President Matt Prine today announced the company’s acquisition of the Town of Riley’s wastewater system in western Indiana. The purchase of the system adds approximately 460 wastewater customers to the company’s customer base, which represents a population of more than 1,240 residents.
“The acquisition of this system will help hold rates down for Riley customers over the long term 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 service to Riley and several nearby communities, so this allows us to bring greater efficiencies to customers in Riley and across Indiana.”
“In a time when communities are looking for new and innovative ways to deal with challenges they’re facing and hold the bottom-line on expenses, this acquisition is a great solution for the town and its customers,” Prine continued.
The acquisition of the Riley wastewater systems for $1,545,000 was approved by the Indiana Utility Regulatory Commission in March and closed by Indiana American Water and the Town of Riley on Wednesday, April 29, 2020. The Riley system will be incorporated into the company’s Terre Haute district, which currently serves approximately 72,000 residents.
Riley Town Council President Clayton White is also enthusiastic in his support of the acquisition. “Our town has other pressing priorities and lacks the technical expertise or resources to continue running a sewer utility, especially given increasing environmental regulations,” said White. “This acquisition will help us to address these concerns while also providing future rate stability by keeping our sewer rates lower than they would have been under municipal ownership, making needed improvements to the system, and generating additional property tax revenues.
“We appreciate the experience, knowledge and resources that Indiana American Water brings through this sale and we’re pleased with the many benefits it will provide to the town and its 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 1.34 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 6,800 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.