FOR IMMEDIATE RELEASE -- August 23, 2013
Contact: Kevin Kelly (573) 751-9300
PSC Approves Asset Sale Of Tri States Utulity
JEFFERSON CITY---The Missouri Public Service Commission has approved a joint application filed by the Missouri-American Water Company (MAWC) and Tri States Utility, Inc. (Tri States) which authorizes Tri States to sell substantially all of its assets to MAWC.
In filings with the Commission in August, the PSC Staff recommended, with conditions, that the application be approved.
“Based on the verified filings, the Commission independently finds and concludes that the sale and transfer of assets will cause no detriment to the public interest, if the sale and transfer occur under the conditions in Staff’s Amended Recommendation,” the Commission said. “Subject to such conditions, therefore, the Commission will approve the application and incorporate the Amended Recommendation’s terms into this order.” The conditions were agreed to by MAWC.
Some of the conditions include: MAWC will adopt the current rates charged to Tri States customers; and that MAWC shall not recover any acquisition adjustment or acquisition premium in relation to this action or any future rate case.
Tri States serves approximately 3,472 water customers in Taney County. MAWC serves approximately 454,000 water customers and 4,000 sewer customers in Missouri.