American Wtr Wks Co Inc Stock Price, News & Analysis

New Jersey American Water has successfully completed its lead and copper sampling for 2020, with all 13 tested water systems meeting state water quality regulations. The tests conducted from June to September indicate compliance with safe drinking water standards. The company, which tests another 19 systems every three years, reported that all results showed adherence to safety guidelines. New Jersey American Water continues to invest approximately $350 million annually in infrastructure upgrades to ensure reliable water service. Customers can view water quality reports online.

New Jersey American Water President Cheryl Norton announced the extension of the utility service shutoff moratorium due to nonpayment, effective through March 15, 2021. This initiative, in collaboration with Governor Murphy and the Board of Public Utilities, aims to support residents impacted by COVID-19. Customers experiencing financial difficulty are encouraged to explore payment plans or assistance options, including the expanded H2O Help to Others program. New Jersey American Water serves approximately 2.8 million people, highlighting its commitment to reliable water services.

Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), has acquired the wastewater assets of the Borough of Kane Authority for approximately $17.5 million. Serving nearly 2,100 customers, this acquisition marks a significant expansion of Pennsylvania American Water's wastewater operations in an area where it has provided drinking water for over a century. The move will alleviate the borough's wastewater debt, fully fund its pension plans, and enhance capital projects. This represents the company's fifth municipal acquisition under Pennsylvania’s Act 12, facilitating fair market value sales for water systems.

American Water Works Company (NYSE: AWK) has promoted Valoria Armstrong to vice president, External Affairs and Chief Inclusion Officer. Her role focuses on enhancing diversity and inclusion within the organization and engaging external stakeholders. Armstrong, who joined the company in 2011, previously led the Inclusion & Diversity Advisory Council. Additionally, Nicole Boyd has been named director of Inclusion & Diversity. With over 6,800 employees, American Water serves 15 million customers across 46 states, emphasizing its commitment to safe and reliable water services.

New Jersey American Water is reminding customers of its H2O Help to Others Program, which assists those struggling to pay their water or wastewater bills. This program has provided aid for nearly a decade, offering grants up to $500 and discounts on service charges. In light of COVID-19, eligibility has been expanded, and various application requirements are temporarily waived until December 31, 2020. Customers can call 877-NJAWH2O for more information or apply online.

Illinois American Water has acquired the City of Jerseyville's water and wastewater systems for $43.25 million. This acquisition adds approximately 4,100 water and 3,950 wastewater customers to its portfolio. The Illinois Commerce Commission has approved the sale, and Illinois American Water plans to invest $15 million over five years for necessary upgrades, including a new operations center and enhancements to existing facilities. The acquisition is expected to benefit Jerseyville by allowing the city to address debt and infrastructure improvements.

Illinois American Water announced its 2020 Firefighter Grant Program, distributing over $87,000 to 88 fire departments in Illinois. Since its inception in 2010, the program has awarded over $669,000 in grants. This year, every grant submission was approved in full, supporting various needs including pandemic-related resources and firefighting tools. The announcement coincides with National Fire Prevention Week, emphasizing fire safety awareness.

New Jersey American Water has awarded $950,000 in Neighborhood Revitalization Tax Credit funding to enhance housing and economic development in Asbury Park and Camden. This funding will support projects like employment training, affordable housing, and community improvements. Since 2010, the utility has provided approximately $8.2 million in grants through the NRTC program, with $7.1 million directed to Camden. The initiative reflects New Jersey American Water's commitment to transforming communities and improving residents' quality of life.