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Aqua America to buy PNG

PUC approves acquisition plan

HARRISBURG — The Pennsylvania Public Utility Commission has approved Aqua America Inc.’s plan to acquire Peoples Natural Gas Co. LLC for $4.275 billion.

The PUC voted 4-1 to approve a Joint Petition for Settlement from both companies.

The settlement includes commitments regarding infrastructure replacement, employment levels, rate credits and enhancements in a variety of areas, including customer service and reliability, universal service, financial governance, and retail competition, according to a PUC released.

Peoples Natural Gas and its subsidiaries provide natural gas service to about 680,000 Pennsylvania customers in parts of Blair, Cambria, Clearfield and 15 other counties.

Aqua America and its subsidiaries provide water and/or wastewater service to about 3 million customers in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia — including services to over 430,000 customers across 32 counties in Pennsylvania.

The PUC said the settlement was supported by the Pennsylvania the Office of Consumer Advocate, the Coalition of Affordable Utility Service and Energy Efficiency in Pennsylvania, Direct Energy Business Marketing LLC and Direct Energy Small Business Marketing LLC, Direct Energy; various natural gas supplier parties and the Retail Energy Supply Association, the Pennsylvania Independent Oil and Gas Association, Laborers’ District Council of Western Pennsylvania and Utilities Workers Union of America, Local 612.

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