Essential Utilities Believes New Virginia Fair Market Value Legislation for Water Utilities Benefits Municipalities and Customers
Essential Chairman and CEO
“Fair market value legislation will allow Aqua Virginia to offer solutions to municipalities to help them meet ever-increasing health and environmental standards and the costs of replacing their aging water and wastewater infrastructure,” said Franklin. Franklin noted that communities facing greater challenges in the wake of the COVID-19 pandemic might find the new legislation helpful in their recovery. “Drinking water and wastewater services are essential to everyday life. Aqua can help ensure communities have a strong infrastructure, safe water and reliable service both now and in the future,” Franklin continued. “At the same time, local governments can use the proceeds of a utility sale to fund meaningful initiatives and services for their residents.”
Aqua Virginia President
About Essential
Essential is one of the largest publicly traded water, wastewater and natural gas providers in the
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others: that the legislation will allow the company to pay fair market value for water and wastewater assets benefiting local governments, customers and the environment and that the company will be able to create value through its expertise and economies of scale, and deliver efficiencies. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: general economic business conditions; the economic impact of the coronavirus/COVID 19, the company’s ability to leverage its compliance expertise, economies of scale, purchasing power, and operational experience; the company's ability to fund needed infrastructure; changes in regulations or regulatory treatment; availability and access to capital; the cost of capital; disruptions in the credit markets; and other factors discussed in our Annual Report on Form 10-K and our Quarterly Report on Form 10-Q, which are filed with the
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