Latest news with #NexusWaterGroup
Yahoo
3 days ago
- Business
- Yahoo
County residents with high water rates to get new company
CUMBERLAND — Although Allegany County officials recently talked to Maryland Water Service about significantly high rates, they just learned the company has been sold. Thursday, Allegany County Administrator Jason Bennett said his office a few weeks ago met with Maryland Water Service representatives to discuss monthly water and sewer bills that average about $350 and have reached $650 to $900 for some customers in Bel Air, Pinto, Glen Oaks and Highland Estates. 'We ... asked some pretty pointed questions,' Bennett said. County officials received some answers but were 'left with more questions,' he said. Wednesday, the company 'reached out to us and shared ... that system has now been sold,' Bennett said, adding that the county has few details but was told the new owner is American Water Service. 'From what we know it's going through the regulatory process,' Bennett said. 'Which means, back through the (Maryland Public Service Commission) and back through federal agencies as well.' The county does not know 'what it will do to rates,' he said. 'As we learn more, we'll continue to share.' TransactionMaryland Water Service is a Texas-based Nexus Water Group company. A press release on the American Water website Thursday stated the business 'has agreed with Nexus Regulated Utilities LLC, a subsidiary of Nexus Water Group Inc., to purchase multiple water and wastewater systems located in eight states for a total of approximately $315 million, subject to adjustment as provided for in the purchase and sale agreement.' The acquisition 'would add nearly 47,000 customer connections within American Water's existing footprint in Illinois, Indiana, Kentucky, Maryland, New Jersey, Pennsylvania, Tennessee and Virginia,' the release stated. 'The completion of the transaction is also subject to the satisfaction or waiver of various conditions, including the receipt of all required regulatory approvals and other customary closing conditions,' it stated. 'The estimated closing will take place by or before August 2026.' The Cumberland Times-News was unable to confirm Thursday before press time whether the sale includes the Allegany County Maryland Water Service customers. BackgroundIn March, Bel Air resident Larry Smith led a meeting of roughly 100 folks to discuss their inability to access affordable and clean water. Participants came from Bel Air, Pinto, Glen Oaks and Highland Estates, and gathered in a large room above the Cresaptown Volunteer Fire Department. Many discussed extreme conservation measures to reduce costs of their water and sewer bills. The group's water and sewer bills, which come from Maryland Water Service, are among 'the highest in the nation,' Smith said at that time. In April, Allegany County Director of Public Works Adam Patterson said Maryland Water Service buys its water from the county, which purchases the water from Cumberland. 'The cost that we purchase from Cumberland ... we mark up and then that (pays the county's) transmission cost,' he said. 'What I'm seeing is (the water company officials) then mark it up again.' The commissioners at that time agreed to arrange a meeting, requested by the local Maryland Water Service customers, with county, state and federal delegates. ReactionThursday, Smith said he hopes the meeting he and other Maryland Water customers requested earlier this year will still happen. 'There must be a solution beyond private water for these communities,' he said, adding that the current model is economically unsustainable. He talked of hardships the customers face due to their high water bills. Some folks have to share bath water, and others must choose between paying for prescription medications or water, Smith said. Many have poor quality of water that requires significant filtration methods, he said. The water problem will 'continue to mean devaluation of property values,' Smith said. 'Whether it is Maryland Water Service or a new company that bought MSW, we look forward to the commissioners honoring their commitment to the nearly 1,400 people who requested a meeting,' he said. 'We're grateful to the commissioners in advance,' Smith said of the elected officials' pursuit of the meeting.
Business Wire
19-05-2025
- Business
- Business Wire
American Water Agrees to Purchase Nexus Water Group Systems in Eight States
BUSINESS WIRE)-- American Water Works Company, Inc. (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., announced today that it has agreed with Nexus Regulated Utilities, LLC, a subsidiary of Nexus Water Group, Inc. ('Nexus Water Group'), to purchase multiple water and wastewater systems located in eight states for a total of approximately $315 million, subject to adjustment as provided for in the purchase and sale agreement. 'American Water is excited about this announced transaction as it is good for customers and another example of the execution of our core growth strategy,' said John Griffith, President and CEO of American Water. Based on current connection counts, the acquisition would add nearly 47,000 customer connections within American Water's existing footprint in Illinois, Indiana, Kentucky, Maryland, New Jersey, Pennsylvania, Tennessee and Virginia. 'American Water is excited about this announced transaction as it is good for customers and another example of the execution of our core growth strategy,' said John Griffith, President and CEO of American Water. 'Through this transaction, we will grow in eight of our existing regulated states and leverage our scale and size to deliver safe, clean, reliable and affordable water and wastewater services to nearly 47,000 new customer connections. Additionally, we believe this expansion will lead to even more growth in those states as communities continue to look for water and wastewater solutions.' The transaction will require regulatory approval by the state public utility commissions in applicable states, as well as other customary approvals from other governmental entities, and both American Water and Nexus Water Group are committed to working together to ensure that the transition will be seamless for customers after the acquisition and beyond. American Water is also committed to offering employment to the approximately 70 employees of Nexus Water Group affiliates who proudly provide water and wastewater service in these areas. Nexus Water Group President and CEO Rob MacLean said, 'Nexus Water Group is committed to driving sustained growth and value through our long-term strategy. This agreement with American Water will allow Nexus Water Group to focus on a smaller core geography where we are better poised to grow and efficiently serve our customers. The sale also supports continued professional growth for our local employees in these areas.' The completion of the transaction is also subject to the satisfaction or waiver of various conditions, including the receipt of all required regulatory approvals and other customary closing conditions. The estimated closing will take place by or before August 2026. 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 6,700 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 and join American Water on LinkedIn, Facebook, X and Instagram. Cautionary Statement Concerning Forward-Looking Statements Certain statements in this press release are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to, among other things, the completion of the proposed acquisition; the ability to satisfy closing and other conditions related to the proposed transaction, including obtaining regulatory approvals; anticipated capital investments; and the ability to achieve certain benefits, synergies and goals relating to the transaction and the operations to be acquired. These statements are based on the current expectations of management of American Water. There are a number of risks and uncertainties that could cause actual results to differ materially from these forward-looking statements, including with respect to (1) obtaining all required regulatory and other approvals and the ability to satisfy the conditions to closing related to such approvals in the purchase agreement; (2) the final amount of the purchase price to be paid in the acquisition; (3) satisfying other conditions to the closing of the acquisition; (4) the occurrence, in whole or in part, of the plans, benefits and synergies expected or predicted to occur as a result of the acquisition; (5) unexpected costs, liabilities or delays associated with the acquisition or the integration of the operations to be acquired; (6) regulatory, legislative, local or municipal actions affecting the water and wastewater industries, which could adversely affect American Water; and (7) other economic, business and other factors. Forward-looking statements are not guarantees or assurances of future performance or results, and American Water does not undertake any duty to update any forward-looking statement. The foregoing factors should not be considered to be exclusive. AWK-IR
Yahoo
05-04-2025
- Business
- Yahoo
County commissioners pursue help for high water, sewer bills
CUMBERLAND — Allegany County officials said they want to help some area residents who are charged remarkably high water and sewer rates. In a public work session Thursday, Allegany County Administrator Jason Bennett held a thick stack of papers that contained a letter and petition with more than 1,200 signatures from folks who live in Bel Air, Pinto, Glen Oaks and Highland Estates. The residents, customers of the private company Maryland Water Service, want to meet with the commissioners and other government leaders to discuss monthly water and sewer bills that average about $350 and have reached $650 to $900 for some customers. Maryland Water Service, a Texas-based Nexus Water Group company, earlier this week refused to discuss the matter with the Cumberland Times-News. 'We're trying to figure out what all options we have,' Bennett said. 'On the surface, you commissioners can't necessarily affect this, but in cooperation with the feds and the state, we're gonna try to figure out what we can do.' Bennett said the county's state delegates agreed to discuss the matter with county officials after the current legislative session ends. 'People are getting hammered out there ... no doubt about it,' Commissioner Creade Brodie said of the water customers who have gone to extreme conservation measures. He recalled meeting with the water company's representatives several times in the past to ask about the high bills. 'You could never talk to the same people,' Brodie said. 'It was like trying to nail Jell-O down.' County officials said one of many unknowns is whether aging infrastructure contributes to the high water bills. 'There's a lot of questions,' board President Dave Caporale said, adding that he wants to know how and why the Maryland Public Service Commission 'weighed in on this,' and whether the state's attorney general is investigating the situation. Allegany County Director of Public Works Adam Patterson said Maryland Water Service buys its water from the county, which purchases the water from Cumberland. 'The cost that we purchase from Cumberland ... we mark up and then that' (pays the county's) transmission cost,' he said. 'What I'm seeing is (the water company officials) then mark it up again.' The commissioners agreed to arrange the meeting the residents requested. 'Getting everybody together to start that dialogue ... would help those folks out there at least know that everybody's trying to look into it, trying to see what we can do,' Commissioner Bill Atkinson said.
