Aqua America Will Continue to Be Part of Solution to Address Crumbling U.S. Water and Wastewater Infrastructure
February 01 2018 - 5:49PM
Business Wire
The 2018 State of the Union addressed ways in which companies
like Aqua America (Aqua) can play a role in solving the United
States’ crumbling infrastructure challenges. Aqua’s chairman and
CEO confirmed today the company is prepared and ready to continue
investing in and repairing the country’s aging water and wastewater
systems.
“The road to repairing and replacing water and wastewater
infrastructure in the United States should include regulated water
utilities that have access to low-cost capital and whose primary
focus is water and wastewater,” said Chris Franklin. “As one of the
largest water and wastewater utilities, Aqua is poised to answer
the call and step in to make real improvements for communities.
Action needs to be taken now.”
The American Society of Civil Engineers issued a 2017
Infrastructure Report Card, giving U.S. water infrastructure a “D”
and wastewater infrastructure a “D+”. Fixing these problems will
require significant investment but it can be done in a prudent and
timely manner. According to the American Water Works Association,
it will cost an estimated $1 trillion to maintain and expand
drinking water service to meet demands over the next 25 years.
A majority of Americans receive their drinking water from one of
more than 51,000 community water systems, managed by local
governments. While many municipally managed systems are well-run,
there are many others that do not have the ability to properly fund
necessary upgrades to their water and wastewater systems. In these
instances, Franklin believes infrastructure investment from
regulated water providers can go to work to revitalize water and
wastewater infrastructure throughout the country.
“My request of Congress for infrastructure investment is to let
private capital be a larger part of the solution,” Franklin
said.
Aqua is a leader in partnering with municipalities that are
struggling to maintain their systems, whether because of water
quality issues, critical infrastructure investment needs, or
budgetary constraints. By leveraging compliance expertise,
purchasing power and operational efficiencies, Aqua is able to
inject much-needed investment into the systems and develop the
infrastructure required for clean drinking water and wastewater
services.
Over the past five years, Aqua has invested $1.5 billion in
infrastructure improvements, including hundreds of miles of pipe
replacement and plant upgrades to enhance water quality. In
2017, Aqua spent $450 million on infrastructure projects across its
eight-state foot print helping to ensure safe and reliable water
for all customers.
“Regulated utilities like Aqua recognize that the state of the
nation’s infrastructure is a serious issue, and Aqua is committed
to being part of the solution,” said Franklin.
Aqua America is one of the largest U.S.-based, publicly traded
water utilities and serves nearly 3 million people in Pennsylvania,
Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and
Virginia. Aqua America is listed on the New York Stock Exchange
under the ticker symbol WTR. Visit AquaAmerica.com for more
information.
WTR
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Aqua AmericaStacey HajdakMarketing &
Communications610-520-6309SMHajdak@AquaAmerica.com
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