CHESTER — The Delaware County Regional Water Quality Control Authority board of directors unanimously approved a $276.5 million merger with Aqua Pennsylvania Wastewater Inc. during its regular meeting Tuesday, according to a spokesperson for the authority.
The purchase price will be used to pay off outstanding debt and to invest in a rate stabilization plan, according to a release from DELCORA. The proposed asset purchase agreement and merger is now pending approval by the Pennsylvania Public Utility Commission.
“Our number one goal throughout this process was to find a partner who could help us stabilize rates for our ratepayers in the face of large, looming capital costs,” said DELCORA Executive Director Robert Willert in the release. “By partnering with Aqua Pennsylvania, DELCORA was able to develop a rate stabilization plan with an experienced operator with knowledge of the local community while also preserving all DELCORA jobs.” Read more.