Watch for updates
Updated: 9/22/19
Fair Market Value for Water Utility Acquisitions
Fair Market Value for Water Utility Acquisitions (Beecher, updated August 2019)
Statutes and rules
California
Connecticut
Illinois
Indiana
- Indiana House Bill 1319 (July 2015)
- Indiana Senate Bill No. 472 (February 2019)
- Ind. Office of Util. Consumer Counselor v. Indiana-American Water Co.
Kentucky
New Jersey
North Carolina
Ohio
- Ohio Testimony on House Bill 422 (June 2018)
- Ohio Testimony on House Bill 422 (Changes to Ratemaking Law that Can Affect Water Utility Consumers’ Bills) (January 2018)
- Ohio House Bill 422 as Passed by the House
- Ohio House Bill 422 Final Version (January 2019)
Pennsylvania
- Pennsylvania Tentative Supplemental Implementation Order (September 2018)
- Consumer Advocate v. Pennsylvania PUC (October 2018)
- Pennsylvania Implementation of Section 1329 of the Public Utility Code
- Public Utility Code (66 PA C.S.)- Valuation of Acquired Water and Wastewater Systems for ratemaking Purposes (2016)
Tennessee
- Senate Bill 532
- House Bill 1281
- House Bill 0604
- House and Senate Bill Actions- Tennessee General Assembly
Texas
Connecticut
Articles, papers, and presentations
- Accounting for Fair Value Acquisitions 2019 (Kermode, 2019)
- Fair Value Versus Original Cost Rate Base Valuation During Inflation (Primeaux, Bubnys, and Rasche 1984)
- Water Utilities: Flash Update (Boenning & Scattergood 2018)
- Regulated Utilities Manual A Service for Regulated Utilities (Deloitte 2012)
- American Water White Paper- Challenges In The Water Industry: The Rate Approval Process (Duffy)
- The Duquesne Opinion: How Much “Hope” is There f6r Investors in Regulated Firms? (Kolbe 1991)
- Investor-owned utilities benefit as fair value legislation incentivizes system sales (December 2016)
- A Pa. law sets off a feeding frenzy for public water systems. Will customers pay the cost? (Maykuth 2018)
- Is it time to buy Pennsylvania water stocks? (Arvedlund 2018)
- Private Water Firms Tap Profit From Struggling Public Utilities (Schultz 2017)
- Aqua Pennsylvania to Welcome New Garden Township as First Municipal Acquisition Using Fair Market Valuation Legislation (2017)
- Pa. approves Aqua’s contentious $75M sewer system acquisition (July 2018)
- The “Fair Value” Test in Montana Public Utility Rate Regulation (Bottomly 1960)
- Fair Value Versus Original Cost Rate Base Valuation During Inflation (Primeaux, et al. 1984)
- The Duquesne Opinion: How Much “Hope” is There for Investors in Regulated Firms? (Kolbe and Tye 1991)
- If you like paying higher water bills, you’ll love House Bill 351 (Sorg 2017)
- Municipal Water and Sewer Authorities: When Wall Street Comes Knocking (Kent and Gigglioti 2018)
- Water as New Gas (2018)
- Debate Rages Over The Value Of Acquired Water Systems In Kentucky (Chawaga 2019)
- Kentucky American Water bill defended (February 2019)
- Water Mergers- Are They Making Economic Sense? (Hempling 2019)
- OP-ED: Who’s Profiting From Repairs to Aging Water and Sewer Systems? (Gallos 2019)
Other links
- Basic Financial Statements— and Management’s Discussion and Analysis—for State and Local Governments (GASB 1999)
- Summary of Statement NO. 34 Basic Financial Statements—and Management Discussion and Analysis—For State and Local Governments (GASB 1999)
- Statement of Financial Accounting Standards No. 71 (FASB 1982)
- American Water NYSE: AWK (American Water 2017)
- Special Meeting of Exeter Township on Waste Water Treatment System (2018)
- American Water Works Company, Inc. 2018 Q2 – Results – Earnings Call Slides (2018)
- Statement of Financial Accounting Standards No. 71 (1982)
- Aqua America Investor Presentation (2019)
- American Water 2018 Third Quarter Earnings Conference Call (2018)
Chester
- Chester Water Authority- Potential Sale of CWA
- Aqua once again mulling ‘options’ in Chester Water Authority deal (February 2019)
Map of States with Fair Market Value Legislation
