Citizens Energy Group Board Approves Whitestown Water Utility Acquisition and Budget Forecast

The Citizens Energy Group Board of Directors convened a significant joint meeting on August 25, 2025, where key decisions were made that will impact both the organization and the community it serves. Among the most notable outcomes was the approval of the acquisition of the Whitestown Water Utility, a move expected to enhance service reliability and reduce costs for local residents.

The board unanimously approved a series of resolutions related to this acquisition, which includes a $37 million purchase price and the transition of Whitestown's water customers to Citizens Water's retail rates. This acquisition is projected to yield substantial benefits, including lower customer rates—estimated to be between 18% and 33% savings—and improved operational efficiencies. The Whitestown Town Council has already authorized the agreement, and the next step involves seeking approval from the Indiana Utility Regulatory Commission (IURC), with expectations for a decision by early 2026.

In addition to the acquisition, the board addressed financial strategies to support this transaction. Citizens Water plans to fund the acquisition through long-term debt, which will be subject to interest rate risks until the IURC approval is secured. To mitigate this risk, the board approved entering into an interest rate hedge.

The meeting also included the appointment of Melissa Lawson as the new Vice President of Customer Operations, succeeding Curtis Popp, who is set to retire at the end of September. This leadership change is part of ongoing efforts to ensure effective management as the organization navigates significant growth and operational changes.

Furthermore, the board reviewed the proposed budget for fiscal year 2026, which anticipates a 60% increase in operational and maintenance costs, largely due to rising commodity prices. The budget reflects a commitment to safety and reliability investments, as well as plans for capital expenditures to support growth.

Overall, the decisions made during this meeting signal a proactive approach by the Citizens Energy Group to enhance service delivery and financial stability, positioning the organization for future growth while ensuring that community needs are met effectively.