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American Water Works will merge with Essential Utilities to create a $40 billion public water and wastewater utility, which will operate under the name of American Water.
Based in Camden and Bryn Mawr, Pennsylvania, respectively, American Water and Essential Utilities, the parent company of Aqua Water and Peoples Natural Gas, are the two largest municipal water and wastewater management companies nationwide.
Customer prices will remain unchanged, according to a joint press release, and as a result of the merger, both companies “will be better able to maintain an average customer water bill that is affordable, supporting the economic prosperity of the more than 2,000 communities in which the combined company will operate.”
“By joining forces with Essential, the combined company’s enhanced scale and operational efficiency will support continued investment in our critical infrastructure, enabling us to continue providing superior customer service at affordable rates,” said John C. Griffith, American Water president and CEO, in a press release. “We look forward to bringing together the talented teams of both companies to help solve the many water and wastewater challenges across the country and expand our customer base.”
The combined company will have around 4.7 million water and wastewater connections across 17 states and a number of military bases, serving more than 2,000 communities.
Christopher H. Franklin, chairman and CEO of Essential Utilities, said in a press release that the combined company “will build upon our longstanding track record of delivering safe and reliable services and be better positioned to solve today’s challenges while creating a sustainable future.”
“Together, we will have expertise, financial strength and regulatory credibility to continuously improve our infrastructure and meet the evolving needs of our customers,” he said.
