Essential Utilities’ Aqua Illinois Subsidiary Acquires Oak Brook Water Assets

Source: 11/29/2022, Location: North America

Essential Utilities Inc. announced that its Aqua Illinois subsidiary has completed the purchase of the Village of Oak Brook’s water treatment and distribution system, which serves approximately 4,000 customer equivalents in DuPage and Cook Counties, for $12.5 million.

“We thank the village board for entrusting these customers to our care,” said Essential Chairman and CEO Chris Franklin. “Aqua has over 135 years of expertise in water and wastewater service, thoughtful infrastructure investment and strong community involvement. We pledge to continue this long-standing tradition with our new and existing customer base.”

“My team and I are excited to begin serving this area and look forward to providing the community with safe water and reliable service,” said Aqua Illinois President David Carter.

Oak Brook is the third acquisition completed by Essential’s Aqua companies in 2022. Collectively, these acquisitions have added nearly $120 million in rate base and more than 23,000 equivalent retail customers or equivalent dwelling units. Additionally, the company currently has six signed purchase agreements to acquire water and wastewater systems in three of its existing states, which have a total purchase price of nearly $352 million and represent approximately 213,000 equivalent retail customers or equivalent dwelling units.

United States >>  2/15/2024 - TechnipFMC (NYSE: FTI) has been awarded a substantial(1) contract by Shell plc for the first integrated Engineering, Procurement, Construction, and In...

Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.