American Water Works Company, Inc - AWK STOCK NEWS

New Jersey American Water has replaced approximately 10,000 customer-owned lead and galvanized steel water service lines as part of its Lead Service Line Replacement program. This progress puts the company on track to meet New Jersey's 2021 law requiring all water providers to replace both utility-owned and customer-owned lead and galvanized service lines by 2031.

The company has launched an interactive webpage and map for customers to view and report their service line material. New initiatives include annual notifications to property owners with lead or galvanized service lines and distribution of pitcher filters after service line replacements, aligning with EPA regulations.

New Jersey American Water emphasizes that while their water quality meets standards, these efforts provide additional protection for customers' health.

Indiana American Water (INAW) has received approval from the Indiana Utility Regulatory Commission for the $45 million acquisition of Silver Creek Water (SCWC). The deal, expected to close by mid-November, will add approximately 8,000 water customers in Clark and Floyd Counties to INAW's service area. This acquisition aligns with INAW's Southern Indiana Operations, as SCWC has been a long-time wholesale water customer. INAW President Matt Prine emphasized the benefits for regional growth and service reliability. The merger follows a vote by SCWC members favoring INAW as their new water service provider. Post-closing, INAW will distribute welcome kits to new customers with essential information about their service and account details.

American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., has announced its fourth consecutive year of honoring 9/11 victims. Volunteers will install 2,977 American flags at RCA Pier Park, adjacent to the company's Camden, N.J. headquarters, to commemorate lives lost on September 11, 2001.

Company executives, Camden city officials, and first responders are invited to join the installation. The flags will be displayed for about a week before being donated to Camden County Veteran Affairs for use on Veterans Day. Sean Wheatley, President of Military Services Group at American Water, emphasized the lasting impact of 9/11 and the importance of remembrance.

This annual tradition, started in 2021, serves as a moment of reflection and remembrance for victims, survivors, families, and first responders.

New Jersey American Water has been granted new rates by the New Jersey Board of Public Utilities (BPU), resulting in a total annualized revenue increase of approximately $79.5 million. The rate increase, effective September 15, 2024, is primarily driven by over $1.3 billion in infrastructure investments since the company's last rate filing. For most water customers with a 5/8" meter using 5,642 gallons per month, bills will increase by about $5.33 per month. Wastewater customers will see an average increase of $5.68 per month.

The BPU also approved a new Universal Affordability Tariff, which will provide discounts on monthly fixed service and usage charges for income-eligible customers. This tariff will be incorporated into the company's H2O Help to Others assistance program, demonstrating New Jersey American Water's commitment to affordability.

Illinois American Water has completed a $10.9 million groundwater treatment plant in the Cairo District, replacing the original surface water plant that used the Ohio River. The project, which began in April 2023 and finished in August 2024, was necessary to meet U.S. EPA regulations and provide a more reliable and efficient water supply. The new plant, operational since August 26, includes pressure filters, chemical rooms, a laboratory, and associated equipment. The switch to groundwater was approved by regulatory bodies and deemed beneficial due to Cairo's plentiful aquifer system. The project, executed by union contractors, is expected to ensure continued high-quality water service for the Cairo District.

Pennsylvania American Water (PAW) and Towamencin Township have decided to terminate the sale of the township's wastewater system. This decision comes after the Pennsylvania Public Utility Commission (PUC) finalized new criteria for reviewing such sales on July 2, 2024. The original asset purchase agreement (APA), initially between Towamencin and NextEra Water, then transferred to PAW, is substantially different from the PUC's new criteria.

PAW President Justin Ladner expressed gratitude for the partnership but acknowledged that the original deal structure is unlikely to meet the new PUC approval criteria. Despite this setback, PAW continues to pursue other opportunities, including seeking PUC approval for the acquisition of the Elizabeth Borough Municipal Authority's wastewater system in Allegheny County next month.

California American Water has partnered with Paired Power to install PairTree, a solar microgrid system for charging electric vehicles at its San Diego District. This innovative solution combines solar power, grid power, and battery storage to provide resilient and renewable energy for the company's EVs. The PairTree system offers several benefits:

1. Reduces carbon footprint and long-term costs
2. Provides emergency backup power during grid outages
3. Decreases dependence on the grid
4. Supports California's emission reduction goals
5. Improves local air quality, health, and safety

By using PairTree to charge one vehicle, California American Water will prevent approximately 4,472 pounds of CO2 emissions annually. This partnership aligns with the company's commitment to environmental stewardship and disaster preparedness.

Paired Power, a leading U.S. solar microgrid manufacturer, has partnered with California American Water to install its PairTree™ solar EV charger in San Diego, California. This collaboration aims to provide resilient EV charging without solely relying on the grid, supporting disaster-preparedness and California's emission reduction goals.

PairTree™ is a U.S.-made solar canopy that combines solar power with grid power and battery storage, offering day and night charging for electric vehicles. It can also provide emergency backup power during grid outages. The installation is expected to prevent 4,472 pounds of CO2 emissions annually per vehicle charged.

This partnership reflects California American Water's commitment to reducing its carbon footprint, improving air quality, and enhancing public health and safety for the 750,000 Californians it serves.

InspIR Group, a leading cross-border strategic investor relations and Sustainability consultancy, has announced the appointment of Ed Vallejo as Managing Director, effective September 16, 2024. Vallejo brings over two decades of experience as a senior financial and operational executive, with expertise in financial strategy, planning, modeling, and Sustainability.

Vallejo's notable career includes a 15-year tenure at American Water Works (NYSE: AWK), where he launched the company's investor relations function and pioneered integrated IR and ESG reporting. He also led American Water's IPO on the NYSE and consistently ranked first or second in the All-American Executive Team for Utilities and ESG. Most recently, Vallejo served as Vice President of Investor Relations at Bloom Energy (NYSE: BE).

This appointment aims to strengthen InspIR's senior advisory capability in the U.S. and emerging markets, leveraging Vallejo's extensive experience in critical issues facing clients today.