On Aug. 28, Towamencin Township Board of Supervisors Chairman H. Charles Wilson III read the following statement: “Since our last meeting, the Pennsylvania Public Utility Commission (PUC) issued an order setting a formula that effectively determines what it deems to be a ‘reasonable’ purchase price for a wastewater system in a sale to a public utility. The purchase price Pennsylvania American Water (PAWC) must pay to the township under the Asset Purchase Agreement (APA) is far higher than the PUC’s purchase price standard under its new formula. Although the PUC did recently conditionally accept PAWC’s application to purchase our system, given the new legal framework instituted by the PUC, it is very unlikely the PUC would ultimately approve the sale of our system to PAWC as currently structured. After discussions with PAWC and our counsel in the last week, I am asking that an item be placed on the agenda for our next meeting to terminate the APA based on this change in law and authorize all necessary actions, including signing the associated termination documentation, to do so.” Wilson asked Township Manager David Kraynik to ensure the item is added to the next meeting agenda. The meeting is slated for Wednesday, Sept. 11. Visit the Towamencin Township website for more information.
Source: Towamencin Township; 8/30/2024