New Jersey American Water President Mark McDonough (left) and Manville Mayor Richard Onderko at the financial closing of the utility's acquisition of Manville’s wastewater system. - PROVIDED BY NJ AMERICAN WATER
New Jersey American Water President Mark McDonough (left) and Manville Mayor Richard Onderko at the financial closing of the utility's acquisition of Manville’s wastewater system. - PROVIDED BY NJ AMERICAN WATER
Dawn Furnas//November 5, 2024//
A year after receiving 83% voter approval, New Jersey American Water officially completed its acquisition of the Borough of Manville’s wastewater collection system for $6.5 million.
The Camden-based utility announced the deal’s close Nov. 1, noting that the New Jersey Board of Public Utilities approved the municipal consent Sept. 24.
The system serves approximately 4,300 customers, most of whom already receive water service from NJ American Water.
As part of the agreement, NJ American Water also committed to invest a minimum of $10 million in wastewater system improvements over the next 10 years.
“Having served Manville for many years as its water provider, we are honored and proud to now extend our wastewater services to residents,” NJ American Water President Mark McDonough said in a statement. “We are committed to making the necessary improvements to Manville’s wastewater system and look forward to continuing to support our customers with the same level of excellence we have provided to them for the past two decades.”
Manville Mayor Richard Onderko called the deal “the right decision for our community.”
“The sale will allow us to pay off municipal debt, stabilize property taxes, and secure long-term, affordable rates for our residents,” Onderko added. “Most importantly, New Jersey American Water has the resources needed to invest in critical infrastructure improvements that will benefit Manville for years to come.”
The company said residents will receive more information in the mail within the next week. They can also visit a webpage dedicated to the transition here.
The Manville system acquisition is NJ American Water’s seventh in the past few years. Others have included:
In September, the NJBPU approved new water and wastewater rates for the Camden-based utility. The company said the changes were necessary because of the more than $1.3 billion it’s investing in infrastructure upgrades across its service area. For the average customer, water bills will increase approximately $5.33 per month. Meanwhile, wastewater bills will increase an average $5.68 per month. The new rates kicked in Sept. 15.