American Water Works Company, Inc - AWK STOCK NEWS

American Water (NYSE: AWK) has launched its 2023 Environmental Grant Program, accepting applications for community-based environmental projects in 12 states. This initiative, established in 2005, aims to support local organizations that improve or protect water resources. In 2022, over $186,000 was awarded to 53 projects. The program encourages partnerships focused on vital watershed and groundwater protection. Applications are due by March 31, 2023. American Water serves more than 14 million people across 24 states, emphasizing safe and reliable water services.

Illinois American Water has launched its 2023 Environmental Grant Program, inviting applications until March 31, 2023. The program aims to fund community-based projects that enhance watersheds, with over $290,000 allocated since its inception in 2009, supporting more than 90 initiatives. Projects eligible for funding must address local watershed protection needs and demonstrate sustainability. Examples from last year include grants to organizations like HeartLands Conservancy and Hickory Grove Elementary School. Interested applicants can find more information and applications on Illinois American Water's website.

Virginia American Water has signed an asset purchase agreement with the Town of Cape Charles, Virginia, to acquire its drinking water and wastewater assets for up to $15 million, subject to regulatory approvals. This acquisition, which serves approximately 2,300 customers, includes a commitment of over $10 million in system improvements over the next eight years. The deal aims to enhance drinking water quality and maintain stable rates for residents. The acquisition is anticipated to be completed in late 2023, pending approval from the Virginia State Corporation Commission.

Missouri American Water is investing over $425 million in 2023 to enhance its water and wastewater systems statewide. Key projects include upgrading treatment plants and replacing 80 miles of aging pipes that may be up to a century old. This proactive approach aims to improve service reliability, enhance water quality, and ensure compliance with health regulations. Major construction initiatives are set for locations such as St. Louis, Jefferson City, St. Joseph, and Joplin, benefiting approximately 1.5 million customers across Missouri.

Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), has agreed to acquire the sanitary sewer collection system assets of Sadsbury Township Municipal Authority for $990,000. This system caters to approximately 250 properties in Sadsbury Township, Lancaster County. The acquisition is seen as beneficial, allowing for debt reduction for STMA while enabling Pennsylvania American Water to invest $1.3 million in system improvements within five years. The transaction awaits approval from the Pennsylvania Public Utility Commission and is expected to close in 2023.

California American Water has filed for a rehearing with the California Public Utilities Commission regarding the Pure Water Monterey Expansion. This application seeks to recover infrastructure costs necessary for water distribution from the project. The company emphasizes the project's importance for the Monterey Peninsula's water supply and urges a swift review of a recent decision that delayed recovery of its investments, causing potential negative impacts on customers and the region.

Other parties may file responses by January 19, 2023.

West Virginia American Water's 2023 infrastructure replacement program, known as the Distribution System Improvement Charge (DSIC), was approved by the Public Service Commission of West Virginia. This initiative will facilitate timely cost recovery for infrastructure upgrades, addressing aging water systems. The $48.7 million investment includes $31 million for over 16 miles of water main replacements and a 5.98% surcharge on customer bills, averaging $3.63 per household. This program aims to enhance reliability and efficiency in water delivery for approximately 560,000 customers.

California American Water has agreed to acquire the West San Martin Water Works potable water distribution system, adding 309 customer connections in Santa Clara County. The acquisition will allow California American Water to enhance its service offerings to the San Martin community while continuing its operations from the Monterey Peninsula. With this acquisition, California American Water aims to provide improved conservation programs and a 24-hour emergency call center, supporting its mission to deliver high-quality water services.

Illinois American Water, a subsidiary of American Water (NYSE: AWK), has expanded its service in Rosiclare by acquiring the city's water distribution system for $2.7 million. This purchase adds approximately 525 customers to its southern Illinois service area. The company previously acquired Rosiclare's water production and wastewater systems in 2020, committing to invest around $5 million over five years. Continued investments include upgrades to infrastructure and compliance improvements, enhancing water service reliability for the community.