American Water Works Company, Inc. reports developments tied to its regulated water and wastewater utility operations across the United States. The company provides drinking water and wastewater services to about 14 million people through regulated operations in 14 states and on 18 military installations, with operating subsidiaries including California American Water, Pennsylvania American Water, Maryland American Water, Virginia American Water, Illinois American Water, Iowa American Water and Tennessee American Water.
News for AWK commonly covers annual water quality and Consumer Confidence Reports, state-level service updates, infrastructure investment, public utility rate proceedings, drinking water standards, community programs and subsidiary activity in local service territories. Updates also reference the company’s long operating history and its role in regulated water and wastewater service delivery.
Missouri American Water is investing $2.2 million to upgrade 3,700 feet of water main in Creve Coeur, replacing old pipes installed in the 1920s with a 24-inch ductile iron main.
This initiative aims to enhance water service reliability and flow, especially for fire protection. This project is part of a broader effort, where over $100 million was invested last year to replace nearly 90 miles of aging water pipes in St. Louis County. The work is expected to be completed by fall 2021, prioritizing public safety during construction.
The Pennsylvania Public Utility Commission has approved Pennsylvania American Water's settlement to increase water and wastewater rates over two years. This allows for a total revenue increase of $70.5 million, following $1.64 billion in investments from 2019 to 2022 for infrastructure upgrades. Starting January 28, 2021, average residential water bills will rise from $57.85 to $61.92, and wastewater bills from $60.42 to $67.94. The company is also enhancing low-income assistance programs amid the ongoing pandemic, including increased contributions to its H2O Help to Others Program.
In 2020, New Jersey American Water donated over $1.5 million to more than 50 organizations across New Jersey, focusing on health, safety, and community support amidst the COVID-19 pandemic. Contributions included $950,000 via the Neighborhood Revitalization Tax Credit program and $245,000 to assist customers through the H2O Help to Others program. Moreover, employees raised $125,000 for local nonprofits. The company emphasizes continuous community involvement as a priority.
American Water Works Company (NYSE: AWK) reported 2020 earnings of $3.91 per share, up from $3.43 in 2019. The company announced a 2021 earnings guidance range of $4.18 to $4.28 per share, alongside long-term EPS growth targets of 7-10% from 2021-2025. Major highlights include $1.9 billion in capital investments and 23 regulated acquisitions. A virtual Investor Day is set for February 25, 2021, focusing on strategic growth and infrastructure investments.
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American Water Works Company (NYSE: AWK) announced the appointment of Cheryl Norton as Executive Vice President and Chief Operating Officer, and Bruce Hauk as Deputy Chief Operating Officer, effective March 1, 2021. Norton, previously Senior Vice President and Chief Environmental Officer, will oversee operations for over 12 million customers across more than 1,600 communities. Hauk, currently President of Regulated Operations, will assist in managing the utility’s performance. The leadership changes aim to strengthen American Water's operational capabilities and emphasize customer care.
Pennsylvania American Water announced a substantial investment of $400 million in 2020 for enhancing its water and wastewater infrastructure in Pennsylvania. This investment, aimed at improving service for 2.4 million residents, included replacing over 126 miles of pipelines, upgrading treatment facilities, and enhancing leak detection technology. The investments generated over 6,200 jobs in the state, supporting local economies during the COVID-19 pandemic. The company continues to focus on delivering safe, reliable water while also engaging in community support through charitable contributions.
Illinois American Water has acquired the Concordia Water Cooperative's water distribution system for $1.7 million, adding around 150 customers in the Metro East area. This strategic move follows a vote by the cooperative in July 2019 and approval from the Illinois Commerce Commission. Customers can expect their bills to decrease by approximately $50.25 monthly due to the removal of infrastructure reimbursement costs. The company, which has over 145 years of service history, plans to enhance the water distribution system for improved reliability and customer satisfaction.
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California American Water announced a total investment exceeding $68 million in system upgrades for 2020, aimed at enhancing water and wastewater services. Despite challenges from COVID-19, the company completed projects such as pump stations and well rehabilitations across various locations, ensuring reliable services. Over the next two years, they plan to invest $143 million in further infrastructure improvements. This commitment underscores their goal to provide safe and reliable services to over 680,000 residents, particularly crucial during the pandemic.