Pennsylvania American Water Completes Acquisition of the Corner Water Supply and Service Corporation Water System

Core Points - Pennsylvania American Water has completed the acquisition of Corner Water Supply and Service Corporation's water system for $250,000, serving approximately 450 customer connections in Shippenville, Clarion County [1][2] - The company plans to invest over $4.3 million in improvements to the newly acquired water system over the next five years to meet regulatory, safety, and security standards while maintaining affordable rates for customers [2][3] - The acquisition is part of a broader trend of regional consolidation in Pennsylvania's water and wastewater systems, addressing challenges related to aging infrastructure and increasing regulatory demands [3][4] Company Strategy - Pennsylvania American Water aims to connect the acquired water system to its existing Clarion system, enhancing reliability and service quality for customers [2][3] - The company has a proven track record of addressing significant capital investment needs in water systems and ensuring compliance with current and future regulatory requirements [2][3] Customer Impact - The acquisition is expected to provide uninterrupted access to clean and safe water for former Corner Water customers, with the Pennsylvania Public Utility Commission approving the acquisition and allowing the adoption of current rates for these customers [5][4] - Pennsylvania American Water offers various customer assistance programs, including grants for income-eligible customers, to support affordability and access to services [6] Industry Context - The acquisition reflects a growing trend in the industry where larger utility companies consolidate smaller systems to improve service delivery and meet regulatory standards [3][4] - Pennsylvania American Water is the largest regulated water utility in the state, serving approximately 2.4 million people and leveraging its scale to provide effective solutions for communities [8]