Greenwood-based Indiana American Water has acquired another water utility in southern Indiana. The utility says the deal for Georgetown Water, valued at $6.4 million, will add about 1,300 residents to its customer base and result in lower rates for Georgetown customers.
The acquisition received approval last month by the Indiana Utility Regulatory Commission. Indiana American Water says the Georgetown system will be integrated into its southern Indiana district, which serves about 100,000 residents.
“The acquisition of this system will provide Georgetown customers with lower rates and access to operations and capital management water professionals and a number of customer service options and payment methods,” said Indiana American Water President Deborah Dewey. “Indiana American Water already provides water to several nearby communities and to the Town of Georgetown through a wholesale contract, so this is a good fit for us and a continuation of our efforts to expand our presence across Indiana.”
Georgetown Town Council President Everett Pullen says the community was struggling to address local infrastructure needs. He says the acquisition will help tackle those concerns while saving money for customers.