American Water CEO Provides Testimony to Congress on Solutions to Nation’s Water Infrastructure Financing Needs

VOORHEES, N.J.--(BUSINESS WIRE)--American Water Works Company, Inc. (NYSE: AWK), the largest publicly traded U.S. water and wastewater utility company, today announced its president and chief executive officer, Jeff Sterba, is providing testimony before the U.S. House of Representatives’ Subcommittee on Water Resources and Environment.

Sterba, who is representing both American Water and the National Association of Water Companies (NAWC), is presenting four viable financing solutions to help water providers nationwide repair and replace aging water and wastewater systems. As the nation’s water and wastewater infrastructure is in critical need of repair, it has become increasingly important for public water utilities to gain access to private funds for financing upgrades to their pipes, pumps and plants.

“I am pleased to present actions we can take together as a nation to unleash more tools for the financing toolbox, through innovation and by embracing the powerful combination of public service and private enterprise to build the water infrastructure our communities need to thrive and to be healthy,” said Sterba.

Sterba continued, “The challenges we face in this country to protect and maintain our water and wastewater systems and make the investments needed for continuing growth seem vast, but they need not paralyze us. The tools I am proposing will help attract additional private capital for the long-term, reliable investments that well-run water utilities provide. These tools will also provide municipalities with additional flexibility to deliver the most cost-effective and sustainable solutions in addressing their water and wastewater system and for improving their overall fiscal health.”

Sterba’s written testimony is posted on American Water’s website, in the press resources section at http://pr.amwater.com/PressResources/resources.cfm.

Founded in 1886, American Water is the largest publicly traded U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs approximately 7,000 dedicated professionals who provide drinking water, wastewater and other related services to an estimated 15 million people in more than 30 states and parts of Canada. More information can be found at www.amwater.com.