PUC approves CT, ME water cos. merger
Maine regulators have approved the merger of Biddeford and Saco Water Co. with a Clinton, Conn.-based utility.
The deal with Connecticut Water Service Inc., announced in July and newly estimated at $19.8 million, was approved by the Maine Public Utilities Commission this week, according to a press release from the company.
The Biddeford and Saco utility serves around 16,000 customers in Biddeford, Saco, Old Orchard Beach and Scarborough. Another Maine company, Maine Water, formerly Aqua Maine, was purchased by Connecticut Water in January and serves around 16,000 customers in 17 communities throughout the state.
The company reported that the deal will make it the largest investor-owned water utility in Maine with nearly 32,000 customers. In a release, company CEO Eric W. Thornburg said Connecticut Water aims to be the largest investor-owned water utility in New England.
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