American Wtr Wks Co Inc Stock Price, News & Analysis

American Water (NYSE: AWK) participated in a White House and EPA event aimed at reducing lead exposure. The Biden Administration targets the replacement of all lead pipes within the next decade. Susan Hardwick, President and CEO, noted the removal of approximately 40,000 lead service lines in recent years, reflecting their commitment to water quality and public health. American Water collaborates with various stakeholders to finance infrastructure replacement programs. The Administration released guiding principles to further assist lead reduction efforts, emphasizing the need for clean drinking water.

Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), has signed an agreement to acquire the wastewater system assets of the Elizabeth Borough Municipal Authority for $28 million. This system serves around 2,200 customers in several communities, enhancing Pennsylvania American Water's service footprint. Following a competitive bidding process, the transaction is projected to close by late 2023 or early 2024, pending regulatory approvals. Pennsylvania American Water plans to invest approximately $20.4 million by 2028 to upgrade the system to meet regulatory standards and improve service.

American Water (NYSE: AWK) announced its Unmanned Aerial System (UAS) Program has received FAA authorization for beyond visual line of sight (BVLOS) operations at altitudes of up to 1,500 feet. This certification allows American Water to enhance environmental monitoring and inspection capabilities, capturing high-resolution aerial mapping from three miles away. The UAS technology enables safe inspections of facilities remotely. The company collaborates with various government entities to facilitate UAS missions, especially post-natural disasters, marking a significant step in integrating drones into national airspace.

Pennsylvania American Water has opened applications for its 2023 Environmental Grant Program, aimed at funding community-based projects that enhance water resources. Projects must be innovative, sustainable, and within their service area, completed between May and November 2023. Submissions are due by March 31, 2023, with recipients announced in late April. The program has awarded over $650,000 since its inception in 2005, funding 135 projects across the state. In 2022, nearly $75,000 was distributed to 13 organizations, supporting diverse initiatives such as planting nurseries for environmental restoration.

California American Water has enacted disaster protections for communities affected by recent storms and evacuations in Monterey County. These measures aim to assist customers facing displacement and property damage. Key initiatives include payment arrangements for up to one year, suspension of disconnections due to non-payment, waiving late payment fees, and offering bill adjustments for increased water usage caused by flood damage. Customers can reach California American Water for assistance at 888 237-1333 during business hours. The company's ongoing commitment is to provide reliable water services to more than 725,000 residents.

California American Water has partnered with Wayfinder Family Services to install seven water bottle fill stations at Wayfinder's campus in Los Angeles. This initiative aims to replace aging water fountains and promote drinking from local water sources. With over 150 daily users, these stations will help reduce single-use plastics while providing safe, filtered water. The project aligns with California American Water's conservation efforts, significantly increasing water consumption among students. The filling stations are positioned in high-traffic areas to encourage the use of refillable bottles, contributing to both health and environmental sustainability.

American Water (NYSE: AWK) has launched its 2023 Environmental Grant Program, accepting applications for community-based environmental projects in 12 states. This initiative, established in 2005, aims to support local organizations that improve or protect water resources. In 2022, over $186,000 was awarded to 53 projects. The program encourages partnerships focused on vital watershed and groundwater protection. Applications are due by March 31, 2023. American Water serves more than 14 million people across 24 states, emphasizing safe and reliable water services.

Illinois American Water has launched its 2023 Environmental Grant Program, inviting applications until March 31, 2023. The program aims to fund community-based projects that enhance watersheds, with over $290,000 allocated since its inception in 2009, supporting more than 90 initiatives. Projects eligible for funding must address local watershed protection needs and demonstrate sustainability. Examples from last year include grants to organizations like HeartLands Conservancy and Hickory Grove Elementary School. Interested applicants can find more information and applications on Illinois American Water's website.

Virginia American Water has signed an asset purchase agreement with the Town of Cape Charles, Virginia, to acquire its drinking water and wastewater assets for up to $15 million, subject to regulatory approvals. This acquisition, which serves approximately 2,300 customers, includes a commitment of over $10 million in system improvements over the next eight years. The deal aims to enhance drinking water quality and maintain stable rates for residents. The acquisition is anticipated to be completed in late 2023, pending approval from the Virginia State Corporation Commission.