To the Honorable Members of the Pennsylvania Senate and House of Representatives who represent ratepayers in the Chester Water Authority service area
RE: Chester Water Authority (“CWA”) Update No. 14
September 27, 2021
TITLE: Chester City Cash to Canada? Who is the DCED[1] working to benefit?
Certainly not your constituents, the CWA Ratepayers.
Who besides the CWA Board is looking out for the CWA Ratepayers?
On Friday, September 24th, the Vice Chair of CWA sent a letter to Mayor Kirkland (copy and exhibits attached) informing the Mayor of the DCED’s plan to make Chester City residents and businesses pay two to three times as much for their water so that Aqua/Essential can pay regular and ever increasing dividends to Aqua/Essential’s second largest shareholder, the Canadian Public Pension Investment Board (“CPPIB”). The letter is filled with raw facts.
How does this help Chester and its residents? Is this what Act 47 is for — to protect foreign citizens’ pensions?
Selling CWA to Aqua/Essential means:
· At least an extra $1 billion dollars of higher water bills, per generation, charged to CWA ratepayers and then made available to Aqua/Essential shareholders including the CPPIB.
· If the DCED’s sponsored hostile takeover attempt is successful, many Chester residents (and other CWA ratepayers) will no longer be able to afford their water bill. Based on EPA guidelines, water service will likely become unaffordable for over 61% of the City’s residents.
Some questions to ponder:
Why is DCED asking Pennsylvania Courts to approve a hostile takeover of CWA to benefit Aqua shareholders like CPPIB?
Should CWA ask the Canadian ambassador to the U.S why the government of Canada allows the CPPIB, the second largest owner of Aqua/Essential, to permit an attempted hostile takeover of CWA which would permanently enrich the Canadian Citizens who get pensions from the CPPIB but likely make water unaffordable to CWA ratepayers who are victimized by the resulting higher water rates?
Should CWA ask for help from the newly nominated U.S. Ambassador to Canada who, according to the White House nomination announcement was a former partner in and Chairman of Ballard Spahr Andrews & Ingersoll, LLP?
As a reminder, DCED arranged it so Chester City hired the law firm, Ballard Spahr, to pursue litigation which promotes the hostile takeover of CWA while knowing that this law firm also did legal work for Aqua.
ANY ADVICE ON ANSWERS TO THESE QUESTIONS IS WELCOMED.
Any questions or comments should be directed to Chester Water Authority. It is best to communicate with CWA via email, info@chesterwater.com
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[1] Pennsylvania Department of Community and Economic Development, under the jurisdiction of Governor Wolf.
