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Artesian Water Company Announces Credit to Delaware Customers With Proceeds from Settlement Agreement
NEWARK, Del., Oct. 24, 2022 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA), a leading provider of water and wastewater services, and
About this update from Artesian Resources Corporation
[{"type":"text","content":"NEWARK, Del., Oct. 24, 2022 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA), a leading provider of water and wastewater services, and related services, on the Delmarva Peninsula, today announced that its principal operating subsidiary, Artesian Water Company, Inc. (Artesian Water), received approval from the Delaware Public Service Commission (DE PSC) to return to its customers proceeds from a settlement agreement with the Delaware Sand & Gravel Trust (the Trust), which is responsible for remediation of releases from a former landfill operation designated as a Superfund site by the U.S. Environmental Protection Agency. The proceeds, to be paid in four annual installments, are reimbursement for investments made by Artesian Water in water treatment systems at its northern New Castle County, Delaware Llangollen well field to ensure its water continues to meet all state and federal drinking water standards. As a strong environmental steward and responsible water utility, Artesian proactively monitors groundwater for potential regulated and unregulated contaminants, treating the water as necessary. Active customers as of September 30, 2022 will receive a credit of approximately $27.00 issued no later than October 31, 2022 with the credit appearing on their subsequent water bill. Active customers as of July 31, 2023, 2024 and 2025 will receive a similar level of credit. Since 2013, Artesian invested $8.7 million in treatment technologies and incurred $1.3 million in related operating costs at its Llangollen well field, which the Trust has agreed to reimburse, all of which will be returned to customers. The Llangollen well field, which can provide 2.2 million gallons per day of supply on average and as much as 3.6 million gallons per day during summer peak periods, is a critical component of meeting water demands in New Castle County, Delaware. “We are extremely gratified that the Trust has accepted responsibility for the needed water treatment and agreed to make Artesian customers whole by reimbursing the associated costs. The completion of this monumental task, a nearly 20 year initiative, led by Artesian’s Executive Vice President, Joseph A. DiNunzio, will now rightfully return to our customers the costs previously incurred by Artesian and now reimbursed by the Trust,” said Dian C. Taylor, CEO and President of Art...