West Virginia American Water Signs Agreement to Purchase Nitro Regional Wastewater Utility for $20 Million
Charleston, W.Va. (Nov. 20, 2024) – West Virginia American Water, a subsidiary of American Water (NYSE: AWK), announced that it has signed an agreement with the City of Nitro to purchase the wastewater system assets of the Nitro Regional Wastewater Authority for $20 million. The agreement was submitted today to the Public Service Commission of West Virginia (PSC) for its review and approval. The Nitro system provides sewer services for approximately 4,500 customer connections in Kanawha and Putnam counties.
“West Virginia American Water looks forward to becoming the wastewater service provider for the City of Nitro,” said West Virginia American Water President Robert Burton. “Nitro’s system is in need of investment to help ensure that it remains compliant with stringent environmental regulations. West Virginia American Water plans to make those investments to reinforce the system’s viability and resiliency now and into the future. It’s been our privilege to work with Mayor David Casebolt and Nitro’s City Council on securing the future of Nitro’s wastewater infrastructure for years to come.”
Pending PSC approval, the transaction will transfer the Nitro Regional Wastewater Utility’s assets and customer base to West Virginia American Water. West Virginia American Water and the City of Nitro expect to close the transaction by the end of the second quarter of 2025. At the time of closing, Nitro Regional Wastewater Utility customers can expect to phase-in to West Virginia American Water’s wastewater rates, with all rate changes being reviewed and approved by the PSC.
“With a 60-year-old plant and a collection system that is nearly 100 years old in parts, it has become clear that significant investments are needed to ensure the system’s reliability and efficiency,” said City of Nitro Mayor Dave Casebolt. “By partnering with West Virginia American Water, we are securing the future of our wastewater services. Their expertise and resources will bring much-needed upgrades to the system, improving service for our residents while ensuring that our infrastructure can meet the needs of future generations.”
Nitro Regional Wastewater Utility customers can expect a seamless transition of their wastewater service. West Virginia American Water plans to acquire the utility’s treatment plants and operations facilities and offer employment to Nitro Regional Wastewater Utility employees.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water’s 6,500 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
About West Virginia American Water
West Virginia American Water, a subsidiary of American Water, is the largest regulated water utility in the state, providing high-quality and reliable water services to approximately 600,000 people.
###
Charleston, W.Va. (Nov. 20, 2024) – West Virginia American Water, a subsidiary of American Water (NYSE: AWK), announced that it has signed an agreement with the City of Nitro to purchase the wastewater system assets of the Nitro Regional Wastewater Authority for $20 million. The agreement was submitted today to the Public Service Commission of West Virginia (PSC) for its review and approval. The Nitro system provides sewer services for approximately 4,500 customer connections in Kanawha and Putnam counties.
“West Virginia American Water looks forward to becoming the wastewater service provider for the City of Nitro,” said West Virginia American Water President Robert Burton. “Nitro’s system is in need of investment to help ensure that it remains compliant with stringent environmental regulations. West Virginia American Water plans to make those investments to reinforce the system’s viability and resiliency now and into the future. It’s been our privilege to work with Mayor David Casebolt and Nitro’s City Council on securing the future of Nitro’s wastewater infrastructure for years to come.”
Pending PSC approval, the transaction will transfer the Nitro Regional Wastewater Utility’s assets and customer base to West Virginia American Water. West Virginia American Water and the City of Nitro expect to close the transaction by the end of the second quarter of 2025. At the time of closing, Nitro Regional Wastewater Utility customers can expect to phase-in to West Virginia American Water’s wastewater rates, with all rate changes being reviewed and approved by the PSC.
“With a 60-year-old plant and a collection system that is nearly 100 years old in parts, it has become clear that significant investments are needed to ensure the system’s reliability and efficiency,” said City of Nitro Mayor Dave Casebolt. “By partnering with West Virginia American Water, we are securing the future of our wastewater services. Their expertise and resources will bring much-needed upgrades to the system, improving service for our residents while ensuring that our infrastructure can meet the needs of future generations.”
Nitro Regional Wastewater Utility customers can expect a seamless transition of their wastewater service. West Virginia American Water plans to acquire the utility’s treatment plants and operations facilities and offer employment to Nitro Regional Wastewater Utility employees.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water’s 6,500 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
About West Virginia American Water
West Virginia American Water, a subsidiary of American Water, is the largest regulated water utility in the state, providing high-quality and reliable water services to approximately 600,000 people.
###