American Water Works Company, Inc - AWK STOCK NEWS

Illinois American Water has released an animated public service video aimed at educating customers on disposing of fats, oils, and grease (FOG) to prevent plumbing clogs during the holiday season. The video features characters Fats, Oil, and Grease, portraying the risks these substances pose to plumbing systems. Customers are advised to never pour grease down sinks or toilets, and to properly dispose of it after cooling. Illinois American Water serves about 1.3 million people and is a subsidiary of American Water (NYSE: AWK), the largest investor-owned water utility in the U.S.

Illinois American Water advises homeowners to prevent frozen pipes during frigid winter temperatures. Key recommendations include allowing a small trickle of water to run overnight and opening cabinet doors to expose pipes to warmer air. If pipes freeze, customers should shut off the water immediately and apply heat to thaw them. For those away from home, having someone regularly check the property is essential. Illinois American Water, a subsidiary of American Water (NYSE: AWK), serves approximately 1.3 million people and has been recognized for high customer satisfaction in the Midwest.

American Water and The Water Research Foundation have launched two PFAS communication toolkits to enhance public understanding of PFAS in drinking water. The first toolkit educates about PFAS origins and their environmental impact, with content for various platforms. The second toolkit aligns with the U.S. Environmental Protection Agency's UCMR5, providing a manual for water systems to create their own FAQs. This initiative aims to foster clear communication between water systems and their customers regarding PFAS safety.

On Dec. 15, 2022, the Illinois Commerce Commission approved a rate adjustment for Illinois American Water, effective Jan. 1, 2023. This decision follows over $1.1 billion in system upgrades aimed at enhancing water and wastewater services across Illinois. Customers will see an annualized revenue increase of approximately $67 million, affecting water bills between $3 and $16 monthly and wastewater bills by $25 to $36. Additionally, a low-income discount tariff was introduced, potentially reducing bills for qualifying residents.

California American Water has informed its customers in Southern California about a regional drought emergency declared by the Metropolitan Water District. This declaration urges immediate reductions in imported water use. Customers achieved significant water savings, with Ventura County and Los Angeles County experiencing reductions of 32% and 22% respectively compared to November 2020. The company encourages continued water conservation, offering programs such as Waterwise surveys and rebates for water-efficient devices.

California American Water plans to seek a rehearing regarding funding issues related to the Pure Water Monterey Expansion project, as approved by the California Public Utilities Commission on December 1, 2022. The company emphasizes the importance of securing funding for essential infrastructure, including wells and pipelines, to bolster water supplies in the Monterey Peninsula. The project aims to diversify the region's water supply while reducing dependence on the over-drafted Carmel River Aquifer.

The Pennsylvania Public Utility Commission approved a settlement agreement that allows Pennsylvania American Water to increase annualized revenue by $138 million. New rates, effective January 28, 2023, will raise average residential water bills by approximately $9 and wastewater bills by $30. The settlement also includes enhanced customer assistance programs and an accelerated lead service line replacement initiative. The total investment exceeds $1 billion to improve aging infrastructure while ensuring affordability for low-income households.