This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Aqua America Chairman Supports Government Mandates And State Grants To Fuel Demand For Compressed Natural Gas

Aqua America, Inc. (NYSE: WTR) Chairman and CEO Nicholas DeBenedictis said he supports the use of efficiency mandates for vehicle manufacturers to increase the use of clean-burning compressed natural gas (CNG) for cars and trucks. The remarks were made during today’s Natural Gas Vehicle Seminar in Valley Forge, Pennsylvania and sponsored by the DEP.

“CNG is a clean, sustainable fuel and the bounty of shale gas found in Pennsylvania, Ohio and other states offers a sizeable step toward the energy independence America needs,” said DeBenedictis who is also a former DEP and Economic Development Secretary for the Commonwealth. “Currently, however, the higher initial purchase price of CNG vehicles has limited the transition of vehicle fleets to CNG. I support the government efficiency and performance mandates that create a demand pull and hence, the increased manufacture of such vehicles. The production of more CNG vehicles will drive down the initial purchase price—which can currently cost as much as 50 percent more than traditional vehicles—improve sales and create a demand for the construction of the filling stations needed to support the fleet.”

The company made a commitment earlier this year to turn over much of the company’s Pennsylvania fleet to CNG. Aqua Pennsylvania has been piloting CNG vehicles for more than a year and recently opened a time-fill station at its Springfield Operations Center in Delaware County for its fleet. Time-fill stations are less expensive and fuel vehicles from existing natural gas lines. The company can accommodate the longer period needed to refuel because the vehicles are housed at the facility overnight and have longer periods of inactivity during which they can be refueled.

Aqua Pennsylvania plans to begin the transition with its 20 dump trucks and 60 vans initially, as there are not many CNG passenger car models available currently. However, as it begins to turn over its vehicles, those that have original equipment manufacturer (OEM) CNG alternatives, will be transitioned to CNG vehicles.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs