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Public Service Commission approves transfer of Allegany County'served system to Maryland American Water; commissioners consider reconsideration and eminent'dom
Summary
The Maryland Public Service Commission issued a March 6 letter order approving the transfer of Maryland Water Company assets serving Allegany County to Maryland American Water with a recorded net book acquisition cost of $20,623,978 and restrictions preventing recovery of transaction-related costs. County staff recommended seeking reconsideration within 30 days and exploring eminent domain as a long'term remedy.
County legal staff told commissioners that the Maryland Public Service Commission (PSC) issued a letter order on March 6 approving the transfer and merger of Maryland Water Company assets serving Allegany County to Maryland American Water.
"The short of it is they blessed the transfer from Maryland Water Company to Maryland American Water Company," Lee said, summarizing the order and noting the PSC recorded the net book acquisition cost at $20,623,978 and prohibited Maryland American Water from recovering goodwill, transaction costs or other acquisition'related intangibles through customer rates.
Lee said the PSC declined the county'requested hearing and found…
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