Pa. American Water buys Poconos utility

American Water Works Co. of Voorhees said today that its Pennsylvania subsidiary has acquired water utility assets for Mountain Top Estates, in the Poconos.

The purchase price was about $240,000 for a system that provides drinking water to about 180 people in the Monroe County community in Middle Smithfield Township.

Under terms of the purchase agreement approved by the Pennsylvania Public Utility Commission, no immediate changes will occur in the Mountain Top Estates customers' water rates.

Across northeast Pennsylvania, Pennsylvania American Water provides water and wastewater service to more than 500,000 people in Scranton and Wilkes-Barre, and in portions of Luzerne, Lackawanna, Pike, Monroe, Wayne, Susquehanna, Northampton, Columbia, Northumberland, and Schuylkill Counties.

American Water shares were down 13 cents at $21.37 in late-morning trading on the New York Stock Exchange.