New Jersey-American Water Co., the largest water utility in New Jersey, has acquired the Howell Township Municipal Water System for $35.1 million, in what NJAW believes to be the largest private acquisition of a municipal water system in the U.S.
NJAW President Daniel L. Kelleher noted that Howell Township residents would experience an immediate 5-percent water rate cut, and rate stability.
Transfer of utility ownership also benefits municipalities, Kelleher says, by turning hidden equity into capital to use for community needs.
He adds that shifting local water utilities from public to private ownership is a growing trend due to stricter water quality regulations and increasing service demands. (em LB
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