American Wtr Wks Co Inc Stock Price, News & Analysis

The California Public Utilities Commission (CPUC) approved California American Water's General Rate Case on November 18, 2021, allowing additional annual revenues of $17.9 million for 2021, $7.7 million for 2022, and $7.7 million for 2023. Additionally, $165 million is authorized for infrastructure improvements, enhancing water service quality and reliability. This decision is retroactive to January 1, 2021, and will enable the implementation of new rates in early 2022, ensuring continued customer assistance and service improvements.

Illinois American Water's Peoria Water Treatment Plant received the prestigious Directors Award from the American Water Works Association’s Partnership for Safe Water program for maintaining a Phase III certification for 20 years. This recognition signifies the plant's commitment to high-quality water service, meeting stringent drinking water guidelines beyond those set by the Illinois EPA. The district is among only nine Illinois utilities participating in this initiative, emphasizing its dedication to safe and reliable water service for approximately 1.3 million people.

Virginia American Water has filed a general rate application with the State Corporation Commission (SCC) seeking a rate increase of $14.3 million. This request is backed by $137.6 million in infrastructure investments made from May 2020 to April 2023, aimed at enhancing water quality and reliability for approximately 339,000 customers. Key projects include new water storage facilities and replacement of aging water mains. The interim rates are expected to take effect around May 1, 2022, varying by service area.

American Home Solutions, part of American Water’s Homeowner Services Group, has partnered with ONE Gas to launch home warranty protection programs for homeowners and renters in Texas and Oklahoma. This agreement aims to protect customers from unexpected repair costs associated with utility service lines and HVAC systems. Eric Palm, President of Homeowner Services, highlighted the limited coverage of standard insurance policies, while Chris Sighinolfi of ONE Gas emphasized the convenience of this partnership for customers. Educational resources about the programs will be sent to eligible households.

Missouri American Water's 2021 Firefighter Grant Program will distribute over $43,000 to 37 fire departments and emergency responders in Missouri. Since its inception in 2016, the program has awarded more than 150 grants for essential equipment, training, and community education. The initiative aims to bridge funding gaps for local fire departments, especially amidst resource shortages. Missouri American Water collaborates with local firefighters to identify necessary water pipe investments, maintaining about 44,000 hydrants across over 200 communities.

California American Water urges customers to reduce outdoor water use as winter approaches and drought conditions persist. President Kevin Tilden emphasized the need to adjust irrigation systems, limiting watering to three days a week and avoiding water waste after rainfall. Customers are encouraged to check sprinklers for inefficiencies and use an online Water Use Calculator to monitor usage. The company serves over 880,000 Californians, focusing on high-quality water services and customer conservation efforts.