American Wtr Wks Co Inc - AWK STOCK NEWS

Virginia American Water has successfully acquired the drinking water system assets of the Town of Waverly, Virginia for $2.2 million, the first transaction under Virginia's Fair Market Value Legislation. The company plans to invest over $4 million in crucial water system enhancements, which include replacing water mains and meters. This acquisition will benefit approximately 905 customers, ensuring they receive high-quality water services. Additionally, the transaction alleviates pressure on Waverly's Public Works Department, allowing for improved town management.

Illinois American Water is investing over $3 million to replace 8,600 feet of water main in Sterling. This upgrade aims to enhance water flow, pressure, and overall service reliability for consumers and fire protection. The project begins this week in multiple locations, including Northland Park Apartments. The initiative is part of ongoing efforts to address aging infrastructure, supported by insights from the American Society of Civil Engineers Report Card, which highlights the need for significant investments in water systems.

Illinois American Water is investing $4 million to replace over 8,000 feet (1.5 miles) of water main in the Streator water system. This upgrade will improve water flow, pressure, and quality for fire protection. The project, starting this month and set for completion by end of 2022, includes work on E. Broadway St., W. Grant St., S. Illinois St., E. Stanton St., and Pine Tree Dr. Customers will receive updates through letters and notifications, ensuring minimal disruption.

Hawaii American Water has reached a settlement agreement with Consumer Advocates at the HPUC for new rates affecting Hawaii Kai customers, the first adjustment since 2011. Effective July, the new rates will generate an additional $1.7 million annually to support local infrastructure. The average increase for customers is approximately 17%, raising single-family service fees from $67.08 to $78.60 monthly. Since 2011, over $32 million has been invested in wastewater improvements, including UV disinfection and solar upgrades, enhancing environmental protection and service quality.

Pennsylvania American Water announced positive findings from its annual water quality reports during Drinking Water Week. The reports showcase excellent water quality across its 37-county service area, meeting compliance standards set by the U.S. Environmental Protection Agency and Pennsylvania Department of Environmental Protection. The company has received numerous Directors Awards for exceeding drinking water standards, highlighting its commitment to safe and reliable services for approximately 2.4 million customers.

California American Water has submitted a proposed application for a rate adjustment to the California Public Utilities Commission, seeking to raise revenues by approximately $95 million from 2024 through 2026. The application, set to take effect on January 1, 2024, includes a $54 million increase in the first year. The funds will support $585 million for infrastructure improvements and compliance with regulations. The request is subject to public hearings and CPUC review, with a final decision expected in late 2023.