FGUA considers buying Aqua America systems

The Florida Governmental Utility Authority (FGUA) received an offer from Aqua America, Inc. to purchase all of Aqua’s water and wastewater systems in Florida for $95 million. FGUA is a public water and wastewater utility operated among several local governments. 

In a letter to FGUA systems manager Robert Sheets and board members, Aqua president of regulated operations Chris Franklin wrote: “Aqua America has reviewed various options concerning our Florida operations and decided that a sale of our Florida utility might be the best alternative for our customers, employees, shareholders and the communities we serve.”

Aqua owns systems across 19 Florida counties that provide more than 38,000 customers with water and sewer service.

Sheets explained that by purchasing the Aqua systems, FGUA would continue to improve service to Aqua’s customers, drive toward efficiencies with local governments, and eliminate the prospect of additional Aqua rate increases.

Honey Rand, FGUA communications representative, says, “FGUA’s mission includes acquiring small systems that are in government or private-sector hands in order to improve customer service, improve the system itself, and improve water quality and wastewater treatment.”

Customers would benefit from the sale with local control, local influence and local access to the people who are actually managing the systems, says Rand. Rates would also be set locally based on the specific system rather than statewide. FGUA board of directors believes that customers benefit when the process of management and rate setting and other operations are fully transparent.

FGUA staff will present the results of the due diligence work already completed to the board of directors. Board members and host governments will have the final say on whether the transaction moves forward. An agreement of sale must be reached by Nov. 30.

For more information, visit www.fgua.com.


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