Friday, March 24, 2006

Bluegrass FLOW Loses Again

It looks like Kentucky American Water Co. is going public after all. But it isn't going to happen through a government condemnation, as Mayor Teresa Isaac spent her entire term trying to force.

RWE, the company's parent, announced today it plans to sell American Water on the open market to shareholders sometime next year. This presents a win-win situation in which those who want local control of their water delivery system will be able to acquire it with their own money and without trampling anyone's private property rights. This is also good news for KY American customers outside of Lexington who stood to lose any voice in the operations of their water supplier if the city of Lexington had succeeded in taking over the company.