SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2019

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

NOTE 21

SUBSEQUENT EVENT

On February 27, 2020, Artesian Water signed an agreement, or the Asset Purchase Agreement, to purchase from the Town of Frankford, or Frankford, substantially all of the operating assets of Frankford’s water system, including the right to provide water service to Frankford’s existing customers.  Frankford shall transfer to Artesian Water all of Frankford’s right, title and interest in and to all of the plant and equipment, associated real property, contracts and permits possessed by Frankford at closing related to the water system.  The total purchase price is $3.6 million.  The existing water system subject to the Asset Purchase Agreement serves approximately 360 customers.  Closing on this transaction is expected to occur on March 19, 2020, subject to the approval of the Delaware Public Service Commission.