(From Missouri American Water) Missouri American Water, a subsidiary of American Water(NYSE: AWK) announced today it has signed an agreement with the City of Neosho to purchase the water and wastewater systems for $34.5 million. The agreement was submitted today to the Missouri Public Service Commission (PSC) following unanimous approval from the Neosho City Council. The Neosho system provides water and wastewater services for approximately 5,400 customer connections.
“Missouri American Water looks forward to the opportunity to become Neosho’s partner in delivering high-quality water and wastewater service,” said Missouri American Water President Rich Svindland. “For more than 130 years, Missouri American Water has been a trusted utility serving communities across our state. Together with Neosho, we look forward to bringing that experience and commitment to the City’s residents by delivering safe, clean, reliable and affordable service for generations to come.”
Pending PSC approval, the transaction will transfer the City of Neosho’s water and wastewater assets and customer base to Missouri American Water. Missouri American Water and the City of Neosho expect to close on the sale following an approximate 6- to 12-month PSC review period. At the time of closing, City of Neosho customers will continue to pay their existing water and wastewater rates, and any future rate changes will be reviewed and approved by the PSC.
As part of the agreement, and subject to approval by the PSC, Missouri American Water will commit to investing approximately $35 million in water and wastewater system improvements in the first five years following completion of the acquisition. The system upgrades include facility improvements, replacement of water and wastewater mains, and the integration of technology to prioritize water conservation, leak detection and wastewater treatment in compliance with federal and state standards.
Neosho residents will be able to take advantage of the company’s customer service benefits, including online account management and billing information. Missouri American Water also provides customer assistance through its H20 Help to Others program for qualifying customers needing help paying their water and wastewater bills.
Missouri American Water will work with the city and the PSC to help ensure a smooth transition for customers. The company anticipates completing the acquisition in the second half of 2026, pending approval from the PSC.
8 comments:
Neosho you are fools might as well sold it for 30 pieces of silver, You will now reap what you have sown.
$34.5 million? '
It won't take them long to turn a real profit on that.
A rate increase here, and another one soon after.
Pretty soon we are talking real money!
Bend over Carthage!
Bend over Carthage? Care to share some information?
Our Utility companies have been monopolized for years. I can go buy a chevy or ford from 100's of dealers to get the best price, but I can only buy my electricity, water and sewer, and gas utilities from 1-Source in my community - so they can easily monopolize and file for rate hikes - and as a consumer I have no choice and am held captive to pay and do what these monopolies want.
Thank you to city leadership for realizing that the City of Neosho has no real reason to be in the water business. Regulations have increased, water loss has continued. Neosho has no business tackling this anymore. Let the experts manage our water and concentrate on our streets and parks.
The Mayor will make large improvements to the airport with the money, then not run for re-election.
This proves my point time and time again the government can’t do anything right,
A private company has purchased this and will invest in it and will still generate a profit, because they are financially responsible unlike the government….
And they are smart I would guess they are getting government money to buy it and invest in it….
While we twiddle our fingers and hope the government will help 🤣
3:13 I like how you think the streets and the parks will get better, it must be awesome being delusional…
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