November 13, 2017

Connecticut Water's 2018 spending plan includes funding for key Maine projects

Connecticut Water Service Inc. (Nasdaq: CTWS), parent company of Maine Water, announced Friday an overall $66.2 million capital spending plan for 2018 for its regulated public water and wastewater utilities.

Approximately 35% of the capital spending planned for 2018, or $23 million, is allocated for pipeline replacement and other projects eligible through Connecticut's Water Infrastructure and Conservation Adjustment and Maine's Water Infrastructure Charge programs.

Connecticut Water's capital spending plan also includes $15.7 million for treatment improvements, the majority of which is allocated to the Saco River Treatment Facility that will replace the Maine Water Co.'s oldest surface water treatment plant, which went into service in 1884 and is possibly the oldest water treatment facility in the nation. The new treatment facility will be located out of the Saco River's flood plain and will ensure that the company has reliable capacity and system redundancy to meet the water needs of current and future customers in southern Maine. The facility is expected to be service in 2020.

The 2018 capital spending plan represents an increase of $10.2 million, or 18%, compared to 2017's approved plan. The 2018 plan includes capital spending for the two Connecticut companies acquired in 2017 that were not included in the 2017 plan.

Overall, $48.5 million is allocated for the company's Connecticut subsidiaries and $17.7 million is allocated for Maine Water in 2018. Connecticut Water's regulated water and wastewater utility subsidiaries in Connecticut serve nearly 104,000 water customers and 3,000 wastewater customers in Southbury. Maine Water serves about 32,000 customers in Maine.

"Our water utility companies are leaders in replacing aging infrastructure," David C. Benoit, Connecticut Water's President and CEO, said in a news release. "The 2018 capital spending plan keeps us on pace to replace about 1% of our water mains every year — far sooner than the industry average."

Benoit said the investments will improve "reliability and water quality, enhance the flow of water available at fire hydrants, reduce operating expenses in the form of lower tax expense, and are good for the environment because they reduce the amount of water lost to underground leaks and the power wasted to pump lost water."

Read more

Bidding war erupts for Maine Water Co.'s parent firm

Maine Water's parent company rejects unsolicited bid from Eversource Energy

Maine Water Co. outlines 2017 capital plan


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