New Jersey American Water Co. said Jan. 2 that it closed the purchase of Roxbury Water Co., a family-owned and -operated water utility with nearly 4,000 customer accounts in Roxbury Township in Morris County, N.J.
The acquisition will bolster New Jersey American Water's capacity to provide water in the water-scarce Highlands Region of New Jersey, New Jersey American said in a news release.
The companies filed a joint petition with the New Jersey Board of Public Utilities on Aug. 17, 2018, seeking approval for the transaction. In their proposal, the companies said Roxbury's existing rates will remain in effect under the current board-approved tariff until the board decides otherwise. The board approved the acquisition Dec. 18, 2018. (Docket No. WM18080904)
Upon deal close, new rate schedules applicable solely to the current Roxbury service territory will be added to New Jersey American's tariff. The Roxbury customers will also be moved to a monthly billing cycle.
New Jersey American Water is a subsidiary of American Water Works Co. Inc.