New Jersey American Water has completed its $1.4 million acquisition of the Mount Ephraim wastewater assets, it announced recently.
The Camden-based utility company said it purchased the borough-owned sewer system, which serves approximately 1,800 customers — most of whom get their water service from New Jersey American Water.
“As Mount Ephraim’s water company for more than a decade and a water provider to the area for over 90 years, we are pleased to expand our relationship with residents as their sewer service provider,” New Jersey American Water President Cheryl Norton said in a prepared statement. “Water and sewer is all we do, and we are deeply committed to making improvements to ensure the community’s sewer service is as clean, safe, reliable and affordable as the water service we provide.”
The state Board of Public Utilities approved the deal last month after residents voted in November 2018 to sell the system to New Jersey American Water.
The utility plans to invest more than $4 million in system upgrades over the next four years, while freezing rates for two years and increasing them no more than 3% over the following three years.
“The sale of our sewer system to New Jersey American Water is a big win for the residents of Mount Ephraim,” Mayor Joseph Wolk said in a statement. “By selling the system, we are eliminating uncontrollable sewer costs, which have been a major uncertainty in our budget. … The $1.4 million purchase price will be used to reduce the borough’s municipal debt. This is a great outcome for our residents.”
New Jersey American Water is a unit of Camden-based American Water.
