American Wtr Wks Co Inc - AWK STOCK NEWS

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.

Pennsylvania American Water is hosting a supplier summit on April 13, 2023, from 9:30 a.m. to 3:30 p.m. at the DoubleTree by Hilton Hotel in Greentree. The company plans to invest over $2 billion in its water and wastewater systems, emphasizing an inclusive supply chain to support local economies. The summit encourages attendance from diverse suppliers, including certified VBE, WBE, MBE, LGBTQ, Disabled, and Service-Disabled companies. This networking opportunity will connect attendees with primary contractors and major suppliers, aiming to enhance supplier diversity and competitive procurement processes.

Illinois American Water is participating in the EPA's Fix a Leak Week from March 20-26, promoting water conservation to its customers. Leaks can waste up to 10,000 gallons of water per year per household, with a national total exceeding 1 trillion gallons. Fixing leaks can reduce water bills by an estimated 10 percent. The company is committed to improving water infrastructure for enhanced service reliability. Leak detection tips include monitoring monthly bills and testing toilets for leaks. Illinois American Water serves about 1.3 million people and has been recognized for customer satisfaction in the Midwest.