American Wtr Wks Co Inc Stock Price, News & Analysis

The Iowa Utilities Commission (IUC) has approved new water and wastewater rates for Iowa American Water (AWK). The rate adjustment, requested on May 1, 2024, was primarily driven by over $157 million in infrastructure investments focused on treatment and distribution system upgrades since their last filing. Interim rates took effect on May 11, 2024. The company will now prepare and file rates reflecting the IUC's order, with the final effective date pending IUC review. To assist customers, Iowa American Water offers payment installment plans and budget billing options through their MyWater customer portal. Customers will receive information about the new rates on their bills and can access additional details through the company's website and the IUC website.

The Monterey County Superior Court has upheld the California Coastal Commission's approval of California American Water's (AWK) Monterey desalination project, denying challenges from the City of Marina and other local water districts. The court confirmed the Commission's 2022 Coastal Development Permits were properly issued. The project's urgency was highlighted by a California Public Utilities Commission finding that the Peninsula could face water shortages by 2050 without implementation. The desalination project aims to address severe water supply shortages, meet state water goals, and provide drought-resilient water resources. Once operational, it will help lift the State Water Resource Board's cease-and-desist order on new water connections, support community demand, and enable sustainable growth. The project includes a $3 million community benefit for Marina residents and expanded customer affordability programs.

California American Water (AWK) has completed the acquisition of the Mesa Del Sol water system in Salinas' Corral de Tierra area. The acquisition follows the successful interconnection of Mesa Del Sol with AWK's Toro Park system to address water quality issues. The deal adds 15 new water connections to AWK's existing network of approximately 40,000 connections in the Monterey Peninsula and Monterey County.

New customers will gain access to enhanced services including bilingual support, online billing, conservation services, and affordability programs. The integration aims to leverage AWK's expertise in providing safe and reliable water services throughout the region.

American Water Works Company (NYSE: AWK) has announced an agreement to acquire multiple water and wastewater systems from Nexus Water Group for approximately $315 million. The acquisition will add nearly 47,000 customer connections across eight states: Illinois, Indiana, Kentucky, Maryland, New Jersey, Pennsylvania, Tennessee, and Virginia.

The deal includes the integration of approximately 70 employees from Nexus Water Group affiliates. The transaction requires regulatory approvals from state public utility commissions and is expected to close by or before August 2026. This strategic acquisition aligns with American Water's core growth strategy and expands its presence within its existing regulated footprint.

The Missouri Public Service Commission (MoPSC) has approved new water and wastewater rates for Missouri American Water (NYSE: AWK), effective May 28, 2025. The rate adjustment follows the company's $1.1 billion infrastructure investment in plant and distribution system upgrades. St. Louis County customers using 6,100 gallons monthly will see a $7 increase, while other customers using 4,600 gallons will experience a $9 monthly increase. Wastewater customers will face an average $6 monthly increase.

To assist customers, Missouri American Water offers payment assistance programs, including installment plans and budget billing options through their MyWater portal. Income-eligible customers can apply for the Help to Others (H2O) Program. The company serves approximately 1.6 million people in Missouri as part of American Water, the largest regulated water utility in the United States.

Kentucky American Water (AWK) has filed a rate request with the Kentucky Public Service Commission, seeking a $26.9 million annual revenue increase to reflect over $212 million in system investments. The investments include replacing 30 miles of aging water pipelines and upgrading storage tanks, pumping stations, hydrants, and meters across 13 counties serving over half a million people.

If approved, the average residential customer using 3,900 gallons monthly would see a $9 increase in their monthly bill. The proposed rates will undergo extensive public review, with interim rates expected to take effect seven months post-filing, and final PSC decision within 10 months. Any difference between interim and final approved rates would be subject to refund.

The company's previous rate case was filed in June 2023.

Illinois American Water (AWK) has released its 2024 Water Quality Reports for all service areas, accessible on illinoisamwater.com. The reports, also known as consumer confidence reports, detail the company's water quality testing results from January to December 2024, comparing detected compounds with EPA and Illinois EPA compliance standards.

The reports highlight the company's Lead Service Line Replacement efforts, following Illinois' 2022 legislation requiring water providers to identify and replace lead or galvanized steel service lines. Illinois American Water continues to meet state and federal drinking water quality regulations for lead. Customers can access their local reports online by zip code or request printed copies through customer service.

Pennsylvania American Water has released its 2024 Water Quality Reports, confirming that drinking water provided to its 690,000 customer connections across Pennsylvania meets or exceeds state and federal quality standards for all primary regulated substances, including lead. The reports, also known as "consumer confidence reports," detail water quality data collected between January and December 2024.

The reports include information about water sources, compound detection in treated drinking water compared to EPA and Pennsylvania Department of Environmental Protection standards, and results from unregulated contaminant testing. Customers can access their local reports online at pennsylvaniaamwater.com/WQReports by searching their zip code, or request printed copies by calling 800-565-7292.

New Jersey American Water and Salem City have initiated construction of a new PFAS removal system at the Salem Water Treatment Plant. The groundbreaking ceremony marked the beginning of an 18-month project aimed at removing 'forever chemicals' from drinking water. Since acquiring Salem's water and wastewater systems in June 2024, New Jersey American Water has invested over $3.5 million in infrastructure improvements, with plans to invest an additional $48.8 million over the next five years. The project represents a significant partnership between the utility company and local authorities to enhance water quality and public health for Salem residents. The initiative has received support from various stakeholders, including the New Jersey Board of Public Utilities and the Department of Environmental Protection.