Canadian company may buy Arizona American Water

About 106,000 water customers in Arizona essentially will make monthly payments to the city of Edmonton in Alberta, Canada, if a $470 million deal announced Monday is approved by regulators. Edmonton-based Epcor Water Services Inc. agreed to buy Arizona American Water and New Mexico American Water. The Arizona company has about 106,000 water meters and 51,000 wastewater customers, representing about 350,000 people, mostly in the Phoenix area. Epcor is a subsidiary of Epcor Utilities Inc., a unique utility that is entirely owned by the city of Edmonton, although it is run independent of the city. The company pays the city an annual dividend from profits in its far-reaching water and power-line businesses. The city puts the money, about $135 million a year, into its operating budget. Epcor officials said they are buying the U.S. water companies because they anticipate steady long-term growth in the region, while New Jersey-based American Water Works Co. Inc. officials said they are selling the companies to help finances.

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