CHARLESTON, W.Va. — West Virginia American Water Company will purchase the Nitro Regional Wastewater Utility for $20 million.
West Virginia American signed an agreement with the City of Nitro Wednesday and the agreement has been sent to the Public Service Commission of West Virginia.
Nitro City Council voted to sell the nearly 100-year-old utility to West Virginia American back in October after holding a number of public forums.
The sale came after Nitro officials deemed the facility needed substantial financial investment to update, and if a sale wasn’t made, customer rates would go up sizably. West Virginia American made a commitment to invest nearly $40 million in the system across the first five years of owning the property.
West Virginia American Water President Robert Burton says the system needs the support to stay in operation.
“Nitro’s system is in need of investment to help ensure that it remains compliant with stringent environmental regulations,” Burton said. “West Virginia American Water plans to make those investments to reinforce the system’s viability and resiliency now and into the future.”
The agreement will see the transfer of Nitro Regional Wastewater Utility’s assets and customer base to West Virginia American Water, so long as the PSC approves the agreement.
The transaction is expected to be closed by the end of the second quarter of 2025.