|Aqua America: Strategies of a Water Profiteer|
Aqua America is the second largest publicly traded U.S. water utility company.
It owns and operates primarily small and medium-sized systems in suburban developments, unincorporated areas and small towns. Its operations are concentrated in Pennsylvania, and it actively seeks to expand its water sales to oil and gas drillers.
Key Figures (2013)
Headquarters: Bryn Mawr, Pa.
Population served: nearly 3 million people
CEO: Nicholas DeBenedictis
Total Compensation: $3.2 million
Revenues: $769 million
Profit: $221 million
In his own words: focus on the bottom line
“Try to remember that the shareholder is the boss. If you are doing something that isn’t going to benefit the shareholders on a year-to-year basis, you shouldn’t do it just to get bigger. You really have to come to the bottom line.”
– Nicholas DeBenedictis, CEO of Aqua America
Florida: Flow Florida scares Aqua out of Florida
Illinois: High rates and poor service
Indiana: A victory for public water in Ft. Wayne
New Jersey: Stopping privatization in Ramsey
North Carolina: Can water privatization drain a community?
Pennsylvania: Stopping privatization in Knox