AWK - American Water Works Subsidiary Gets Pennsylvania PUC Approval To Buy Wastewater System For $230M | Benzinga
American Water Works Co Inc's (NYSE: AWK) subsidiary, Pennsylvania American Water, attained approval from the Pennsylvania Public Utility Commission (PUC) to acquire the Butler Area Sewer Authority (BASA) wastewater system for $230 million.
The deal will significantly boost AWK's assistance programs to address affordability further.
As part of the agreement, Pennsylvania American Water will nearly double its shareholder contribution to the hardship grant program, increasing the fund by $3.5 million over five years.
The agreement also enhanced the program's income eligibility criteria to 250% from ...