Maryland American Water's Acquisition Triumph Promises Reliability
Maryland American Water's Strategic Acquisition Approval
BEL AIR, Md. — Maryland American Water has announced an important milestone in its growth strategy. The Maryland Public Service Commission (PSC) has granted approval for the acquisition of the drinking water assets of Severn Water Company for approximately $1.6 million. This marks a significant step as it is the first acquisition completed under new fair market value legislation introduced by the Maryland General Assembly in 2018.
Welcoming New Customers to Maryland American Water
Barry Suits, the president of Maryland American Water, expressed his enthusiasm about the PSC’s decision. He noted, “We are pleased with the PSC’s order and look forward to welcoming the 1,685 customers previously served by the Severn Water Company to Maryland American Water in the near future. They will benefit from our company’s stellar record of performance in water quality and safety.”
Commitment to Infrastructure and Quality Service
Maryland American Water is dedicated to maintaining its infrastructure and ensuring that customers receive the highest quality water service. Suits added, “Our commitment to continuously investing in necessary capital improvements is a priority for the experienced team we rely on to deliver water service that is clean, safe, reliable, and affordable.”
Strategic Reasons for the Acquisition
The decision for Severn Water Company to sell its assets ultimately stems from the need to enhance the management of its drinking water system. The acquisition aligns with Maryland American Water’s commitment to proactive infrastructure maintenance. In 2023 alone, the company invested $3.5 million in system improvements in the Town of Bel Air, showcasing its dedication to service quality.
Expertise in Water Management
“Selling to Maryland American Water is the right decision for the Severn Water Company,” stated Stephanie Metz, a representative for Severn Water. “Maryland American Water has a long history in the state, providing drinking water to the town of Bel Air since the 1930s. As a partner, we know they have the expertise needed to continue operating this system.”
Enhancing Customer Service Experience
Maryland American Water is committed to ensuring a seamless transition for existing Severn Water customers. The company plans to provide detailed information on how customers can enroll in MyWater, its online customer portal, alongside various customer service programs and benefits. This includes assistance programs and conservation tips to encourage responsible water use.
About American Water
American Water (NYSE: AWK) stands as the largest regulated water and wastewater utility company in the United States. With a legacy that stretches back to 1886, the firm delivers safe, clean, and affordable drinking water to over 14 million people across 14 states and 18 military installations. The company’s 6,500 professionals work tirelessly to ensure that they support not just customers but also their employees and stakeholders effectively.
About Maryland American Water
Maryland American Water, as a vital subsidiary of American Water, provides high-quality water services to approximately 21,000 residents. The company prides itself on reliability and customer satisfaction, making it a trusted choice for local communities.
Frequently Asked Questions
What was approved by the Maryland Public Service Commission?
The PSC approved Maryland American Water's acquisition of Severn Water Company's assets for about $1.6 million.
How many customers will be transitioned to Maryland American Water?
Approximately 1,685 customers from Severn Water Company will be transitioned to Maryland American Water.
What is the commitment of Maryland American Water regarding service quality?
Maryland American Water is committed to investing in capital improvements to ensure clean, safe, reliable, and affordable water service.
How long has American Water been providing services?
American Water has been providing water services since 1886, making it a historical leader in the industry.
What programs does Maryland American Water offer?
The company offers various customer service programs, including an online customer portal, bill payment assistance, and conservation tips.
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