BRYN MAWR, Pa.--(BUSINESS WIRE)--Higher-than-average rainfall in many areas has filled Aqua America (NYSE: WTR) reservoirs in Pennsylvania, Ohio and Illinois leaving the company with plenty of water to sell as it heads into the start of summer.
Over the past two months, rainfall in its largest Pennsylvania territory was nearly 7 inches above normal, filling the company’s 10 billion gallon reservoir system there. Its reservoir in Central Pennsylvania is also full where rainfall was nearly 3-inches above normal. In Ohio, home to the company’s second largest operating division, up to 6 inches of additional rainfall has filled reservoirs there. National Weather Service data indicates most states along the Mid-Atlantic seaboard as well as Ohio and southern Illinois experienced above average rainfall during April and, or May.
“The good news is that with our reservoirs full, we are prepared to meet the high-demand we anticipate during the summer season,” Aqua American Chairman and CEO Nicholas DeBenedictis. “When there is as much rainfall as there has been in many parts of our service territory, customers tend to use less water. However, if the weather turns hot and dry, consumers will increase usage. We remind people to use water wisely and conserve when possible, even though our customers are fortunate they are not facing any shortages.”
DeBenedictis said that even with the abundance of water, customers should be reminded that water is a finite resource that should never be wasted. “Many of our larger systems have the benefit of reservoir storage, which helps tremendously during periods of drought. But there are many systems that depend solely on groundwater and don’t have storage.”
Aqua America is one of the largest U.S.-based, publicly traded water utilities and serves nearly 3 million people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR. Visit AquaAmerica.com for more information, or follow Aqua on Facebook at facebook.com/MyAquaAmerica and on Twitter at @MyAquaAmerica.