About

INDIANAPOLIS – Citizens Energy Group today announced the successful acquisition of the Town of Whitestown’s water utility assets, marking an important step in continued regional collaboration to provide safe, reliable, and affordable water service to Central Indiana communities.

The acquisition follows a multi-step public process that included discussions with Town leaders, approval by the Whitestown Town Council, and regulatory authorization by the Indiana Utility Regulatory Commission, which issued its order approving the transaction on March 31, 2026. As part of the transition, Citizens began serving Whitestown customers in late May, ensuring a seamless continuation of water service.

Citizens did not acquire the Whitestown wastewater system as a part of the water asset purchase.

“This acquisition reflects a shared commitment to long-term water reliability and strong customer value,” said Ed Bukovac, Vice President of Water Operations at Citizens Energy Group. “We are proud to welcome Whitestown residents as Citizens customers and look forward to delivering high-quality service backed by regional planning and investment.”

The transition brings tangible benefits for Whitestown customers, including reductions in water bills, along with access to the broad Citizens portfolio of customer programs and services.

Citizens has long supplied 100 percent of Whitestown’s drinking water and has partnered with the Town on water service for decades. The Town of Whitestown initially approached Citizens to explore the sale of its water utility assets, recognizing the opportunity to leverage the regional Citizens system and public charitable trust structure to enhance long-term service and affordability.

Citizens Energy Group has worked closely with Town officials and new customers to provide clear communication throughout the process, including hosting public open houses in April and May to answer questions and introduce customers to Citizens programs and services. Citizens will host a third public open house in mid-June, when many new customers will have received their first water bill from Citizens. Open hours are planned for June 17, from 5 p.m. to 6:30 p.m. at the Whitestown Municipal Complex.

INDIANAPOLIS – Citizens Energy Group today announced that S&P Global Ratings (S&P) has upgraded the credit rating on the company’s water system to ‘AA+’ from ‘AA,’ with a stable outlook.  Concurrently, S&P assigned its AA+ rating to an upcoming first‑lien water utility revenue bonds issuance for Citizens Water.

The full announcement from S&P is attached here.

According to S&P, the higher rating reflects Citizens demonstrated track record of stable and comprehensively managed financial performance, its advanced asset-management program, and its comprehensive planning efforts that prioritize business continuity and customer cost impact. S&P also noted the robust Citizens regional water system, diversified service area, and disciplined capital planning as key strengths supporting the upgrade.

In underscoring credit stability, S&P highlighted the strategic steps Citizens has taken to target long-term affordability for customers as well as diverse revenue streams via expanding wholesale water service to the City of Lebanon and the coming acquisition of the Town of Whitestown water utility assets. The report also recognized efforts by Citizens to enhance its environmental stewardship responsibilities while providing measurable cost reductions, identifying work to remove lead service lines on behalf of Citizens customers.

“This upgrade is an affirmation of our commitment to strong financial stewardship, transparency, and long‑term planning on behalf of the communities we serve,” said Jeffrey Harrison, President & CEO of Citizens Energy Group. “It speaks to the benefits of our public charitable trust structure and our ongoing focus on delivering safe, reliable, and affordable utility service while investing responsibly in water infrastructure essential to Central Indiana’s future.”

U.S. Environmental Protection Agency (EPA) Assistant Administrator for Water Jessica Kramer recently recognized 48 water infrastructure projects for excellence and innovation, including Indiana’s Drinking Water State Revolving Fund (DWSRF) and Citizens Energy Group lead service line replacement project. This award demonstrates the importance of water infrastructure for supporting healthy Americans and laying a foundation for economic prosperity.

"Indiana’s commitment to protecting public health and ensuring safe, reliable drinking water for its communities is truly exemplary," said EPA Regional Administrator Anne Vogel. “By strategically replacing lead service lines and coordinating with every level of government to minimize costs, Citizens Energy and the Indiana Finance Authority are both setting a high standard for others to follow. This recognition reflects the dedication and collaboration of our awardees to deliver measurable benefits and resilient water infrastructure statewide.”

The Clean Water State Revolving Fund (CWSRF) and Drinking Water State Revolving Fund (DWSRF) programs have provided a foundation of federal investment in water infrastructure for decades. The State Revolving Fund (SRF) programs directly support EPA’s Powering the Great American Comeback Initiative, which emphasizes the need for clean air, land, and water for every American and the importance of cooperative federalism.

EPA’s AQUARIUS program celebrates drinking water projects financed in part by the DWSRFs that are innovative, resilient, and protect public health. The Citizens Energy Group was given an honorable mention for their lead service replacement project in Indianapolis.

EPA also recognized SRF programs through the new State Excellence Recognition Program, which celebrates high-performing SRF programs that demonstrate outstanding financial and program management and effective delivery of assistance across both the CWSRF and DWSRF. The Indiana Finance Authority was given an honorable mention for drinking water state revolving fund state excellence.

Indiana Aquarius Award:

The Citizens Energy Group secured an $11 million lead service line replacement loan to replace lead pipes on public property and private property where access is granted. Groups were able to coordinate and minimize cost by timing replacements with planned infrastructure projects. This also helped minimize construction impacts and community disruption. Local community organizations partnered in outreach, educating residents and encouraging participation in the replacement program.

The grant initially targeted the Martindale‑Brightwood neighborhood of Indianapolis. The neighborhood is home to about 13,000 residents and was identified as a priority area due to its low median household income and a high concentration of lead service lines. Citizens Energy Group is now seeking to expand the program to additional priority areas and eliminate lead service lines city-wide.

State Excellence Recognition:

The Indiana Finance Authority has consistently excelled in its programmatic and financial management of their clean water state revolving fund program. The efficiency of Indiana’s program can be highlighted with its 480% federal return on investment. Indiana is unique in its use of a pooled loan program to fund projects above and beyond the traditional SRF fundable range. The program allows communities to utilize the State’s “AAA” credit rating interest rate, which allows in significant savings for communities. In 2025, the pooled loan program provided six communities with $265 million in loan funding. Through this innovative financing technique, Indiana enabled more projects and provided communities with almost $62 million in savings.

See the full list of recognized projects and learn more about the AQUARIUS and PISCES programs.

Background

The SRF programs are EPA-state partnerships that provide communities with low-cost financing for a wide range of water quality and drinking water infrastructure projects. The SRFs have provided over $265 billion in financial assistance to more than 50,000 water quality infrastructure projects and 76,000 drinking water projects across the country.

Contact Information

Macy Pressley (pressley.macy@epa.gov)

312-886-1443