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.
The New Jersey Board of Public Utilities approved a settlement for New Jersey American Water, resulting in a total annualized revenue increase of approximately $45.5 million. This rate change, effective September 1, 2022, follows over $985 million in infrastructure investments since the last filing on January 14, 2022. Average water bills will increase by $2.93 for 5,520 gallons, while wastewater bills will rise by $3.74. The cost remains competitive at around one penny per gallon.
Illinois American Water is now accepting applications for its 2022 Firefighter Grant Program, providing financial aid to fire departments in its service areas. Since 2010, the program has awarded over $760,000 in grants, supporting more than 770 fire departments. Eligible departments can receive up to $1,000 for gear, equipment, training, and other community fire protection needs. Applications are due by Sept. 12, 2022. For more details, visit www.illinoisamwater.com.
Missouri American Water will replace nearly 8,000 feet of aging water mains in Affton, MO, starting this summer, investing $5 million in the upgrade. The initiative will replace 90-year-old cast-iron mains with new ductile iron pipes, enhancing water service and reliability for nearly 1.5 million residents. This project is part of a larger $400 million investment across Missouri for water and wastewater system improvements. Additionally, eight fire hydrants and 140 service lines will be replaced. Construction is expected to finish by late fall, with traffic detours in effect during work hours.
New Jersey American Water has completed its acquisition of the wastewater collection system in Bound Brook, N.J. for $5 million, adding approximately 2,900 new customers. This acquisition is backed by a necessary municipal consent approved by the New Jersey Board of Public Utilities on July 13, 2022. The company plans to invest over $11 million in critical improvements over the next decade. This marks the third wastewater acquisition for the company in four years, cumulatively adding over 7,500 customers.
On Aug. 11, Illinois American Water emphasized the importance of calling 811 before any digging projects to prevent accidents involving underground utility lines. Every few minutes, such lines are damaged due to unreported digging. The service connects users with local utility companies to mark underground lines, ensuring safety for residents and infrastructure. Beth Matthews, VP of Operations, highlighted that even minor digging projects warrant contacting 811 to avoid injury and costly repairs. Illinois American Water serves approximately 1.3 million people in the state.
Pennsylvania American Water announced a donation of $19,470 to the Chesapeake Bay Foundation as part of a paperless billing campaign. During April, the utility donated $10 for each of the 1,947 customers who switched to e-billing, resulting in funding for the planting of trees in Pennsylvania. The initiative not only promotes environmental sustainability but also encourages customers to reduce their paper usage. This partnership with the Chesapeake Bay Foundation aims to enhance local ecosystems and air quality.
Missouri American Water has completed its acquisition of the City of Eureka's water and wastewater systems, serving about 4,000 customers each. The $28 million deal, supported by a 2020 ballot measure, allows Eureka to reinvest proceeds into the community. Construction of a new five-mile water pipeline from St. Louis County is set to begin, enhancing water quality from the Missouri River. Missouri American Water plans to invest over $37 million in system upgrades over the next decade, ensuring regulatory compliance and improved service.
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Missouri American Water is accepting applications until August 31, 2022, for its Annual Firefighter Grant Program, providing up to $1,200 in financial support to fire protection organizations within its service areas. Last year, over $43,000 was awarded to 37 organizations statewide. This program aims to enhance firefighting capabilities by funding tools, protective gear, and training. Eligible organizations include professional and volunteer fire departments within Missouri American Water's service territory.
American Water Works Company (NYSE: AWK) reported Q2 2022 diluted earnings of $1.20 per share, up from $1.14 in Q2 2021. Year-to-date earnings reached $2.07 per share compared to $1.87 in 2021. The company has affirmed its 2022 earnings guidance of $4.39 to $4.49 per share and plans to invest approximately $2.5 billion this year, with $1.25 billion already invested in infrastructure improvements. Additionally, the recent acquisition of York’s wastewater system added over 45,000 customer connections.