American Water Works Company, Inc - AWK STOCK NEWS

Illinois American Water is launching a webinar series focused on water conservation, starting with "Water Conservation at Home" on April 17 at noon. Sponsored in partnership with the University of Illinois Extension, this initiative aims to educate Illinois residents about effective water use and conservation techniques. Participants can register for the webinar through the provided link. Future sessions will cover various conservation topics, including summer outdoor water use and preventing microplastic pollution. Illinois American Water, a subsidiary of American Water (NYSE: AWK), serves approximately 1.3 million people in Illinois, addressing both water supply and wastewater services.

Illinois American Water, a subsidiary of American Water (NYSE: AWK), has reached an agreement to acquire the wastewater treatment assets of the City of Granite City. Approved by the City Council on April 5, this deal will add approximately 26,000 new customer connections, including 10,500 direct and 15,500 indirect customers. The acquisition, if approved by the Illinois Commerce Commission (ICC) by early 2024, would mark the largest wastewater purchase by Illinois American Water. Mayor Mike Parkinson emphasized that the sale is in the best interest of the community and will preserve jobs while allowing the city to invest in other vital needs. Illinois American Water has been serving Granite City for over 125 years and previously acquired the local wastewater collection system in 2020.

American Water Works Company (NYSE: AWK) plans to release its 2023 Q1 financial results post-market on April 26, 2023. A conference call will be held on April 27, 2023, at 9 a.m. EDT, featuring CEO Susan Hardwick, COO Cheryl Norton, and CFO John Griffith. The call will include a Q&A session for investors and analysts. An audio webcast will be accessible on the Investor Relations website, with presentation slides available beforehand. A replay will be provided for a year. American Water, established in 1886, is the largest U.S. publicly traded water and wastewater utility, serving over 14 million people across 24 states, employing about 6,500 professionals.

California American Water has signed the Pure Water Monterey Expansion (PWMe) agreement, a vital project to ensure future water supplies for the Monterey Peninsula. This decision follows a recent ruling by the California Public Utilities Commission (CPUC) that updates previous decisions affecting infrastructure investments. The CPUC will now allow the company standard ratemaking treatment for construction costs linked to the expansion, which also includes a desalination plant. These initiatives aim to replace water lost from the Carmel River and comply with state water directives.

Indiana American Water has submitted a rate adjustment request to the Indiana Utility Regulatory Commission (IURC), involving $875 million in investments to enhance its water and wastewater services through 2025. The proposed adjustments aim to generate an additional $86.7 million annually. If approved, typical residential customers could see their monthly bills increase by about $14. The company emphasizes affordability, proposing a new rate design that includes 1,500 gallons of water at no extra cost for low-volume users and a Universal Affordability Tariff offering discounts of 30-80% for qualifying households.

Indiana American Water has acquired the Claypool water system for $700,000, adding approximately 150 customers and serving a population of over 400 residents. This acquisition aims to stabilize future water rates and enhance service quality, benefiting from economies of scale. The Indiana Utility Regulatory Commission approved the transaction on February 22, 2023, with closure on March 28, 2023. Company officials emphasize that the acquisition will allow for necessary improvements and operational efficiencies, providing Claypool with access to a wider range of customer service options.

California American Water has re-activated its customer protection program for residents in the Monterey service area due to impacts from recent storms and flooding. The program aims to assist customers facing property damage or displacement, allowing for payment arrangements for unpaid bills, suspending disconnections for non-payment, waiving late fees, and offering bill adjustments for extraordinary water use. This initiative underscores the company's commitment to alleviating stress for affected families. Customers can reach out for support at 888 237-1333 or visit their office in Pacific Grove during working hours.

Pennsylvania American Water has agreed to acquire the wastewater system assets from the Towamencin Municipal Authority, serving over 6,300 customers. This acquisition enhances Pennsylvania American Water's portfolio, already providing services to approximately 2.4 million residents. President Justin Ladner emphasized the company's commitment to long-term solutions for utility services. The deal is anticipated to close by mid-2024, pending regulatory approvals from the Pennsylvania Public Utility Commission. The utility aims to leverage its resources and experience in delivering quality wastewater services to new customers.