American Water Files Missouri Rate Case
Ticker: AWK · Form: 8-K · Filed: Jul 1, 2024 · CIK: 1410636
| Field | Detail |
|---|---|
| Company | American Water Works Company, INC. (AWK) |
| Form Type | 8-K |
| Filed Date | Jul 1, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.01, $148 m, $48 million, $1.5 billion |
| Sentiment | neutral |
Sentiment: neutral
Topics: regulatory-filing, rate-case, utility
Related Tickers: AWK
TL;DR
AWK's Missouri unit filed for a rate increase, expect changes to your water bill.
AI Summary
On July 1, 2024, American Water Works Company, Inc. (AWK) filed an 8-K to report a general rate case filing for its subsidiary, Missouri American Water. This filing is a routine regulatory step to adjust rates for water and wastewater services provided to customers in Missouri.
Why It Matters
This filing initiates a process that could lead to changes in water and wastewater rates for Missouri American Water customers, impacting the company's revenue and customer costs.
Risk Assessment
Risk Level: medium — Rate case filings are subject to regulatory approval and can impact revenue, making them a medium-risk event for the company and its customers.
Key Players & Entities
- American Water Works Company, Inc. (company) — Registrant
- Missouri American Water (company) — Subsidiary filing rate case
- July 1, 2024 (date) — Date of report and earliest event
FAQ
What is the purpose of this 8-K filing?
The purpose of this 8-K filing is to report a general rate case filing made by Missouri American Water, a subsidiary of American Water Works Company, Inc.
Which subsidiary of American Water Works Company, Inc. is involved in this filing?
Missouri American Water is the subsidiary involved in this filing.
What type of regulatory action is being reported?
A general rate case filing is being reported.
On what date was this event reported?
The earliest event reported was on July 1, 2024.
What is the principal business of American Water Works Company, Inc.?
American Water Works Company, Inc. is in the Water Supply industry, SIC code 4941.
Filing Stats: 1,153 words · 5 min read · ~4 pages · Grade level 13.8 · Accepted 2024-07-01 17:23:39
Key Financial Figures
- $0.01 — ich Registered Common stock, par value $0.01 per share AWK New York Stock Exchange
- $148 m — ed incremental revenue of approximately $148 million, excluding approved infrastructur
- $48 million — rastructure surcharges of approximately $48 million in Missouri American Water's approved m
- $1.5 billion — remental revenue is driven primarily by $1.5 billion of incremental capital investments comp
Filing Documents
- awk-20240701.htm (8-K) — 35KB
- exhibit991-missourigeneral.htm (EX-99.1) — 15KB
- image.jpg (GRAPHIC) — 84KB
- 0001410636-24-000124.txt ( ) — 321KB
- awk-20240701.xsd (EX-101.SCH) — 2KB
- awk-20240701_def.xml (EX-101.DEF) — 14KB
- awk-20240701_lab.xml (EX-101.LAB) — 25KB
- awk-20240701_pre.xml (EX-101.PRE) — 15KB
- awk-20240701_htm.xml (XML) — 3KB
01. Other Events
Item 8.01. Other Events. Filing of General Rate Case with the Missouri Public Service Commission (the "MoPSC") by Missouri-American Water Company ("Missouri American Water") On July 1, 2024, Missouri American Water, a wholly owned subsidiary of American Water Works Company, Inc. (the "Company"), announced that it filed with the MoPSC a request to review its water and wastewater rates. The request seeks annualized incremental revenue of approximately $148 million, excluding approved infrastructure surcharges of approximately $48 million in Missouri American Water's approved mechanism. The request is based on a return on equity of 10. 75% and a capital structure with an equity component of 50.54% and a long-term debt component of 49.46%. The requested annualized incremental revenue is driven primarily by $1.5 billion of incremental capital investments completed and planned by Missouri American Water from January 2023 through May 2026 . Missouri American Water anticipates that the general rate case proceeding will be completed by mid-2025. A copy of the press release issued by Missouri American Water on July 1, 2024, has been filed as Exhibit 99.1 hereto and is incorporated herein by reference. References and links to websites and other information contained in this press release are not provided as active hyperlinks, and the information contained in or accessed through these hyperlinks shall not be incorporated into, or form a part of, this Current Report on Form 8-K. Cautionary Statement Concerning Forward-Looking Statements Certain statements included in this Current Report on Form 8-K (or the exhibits thereto) are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. In some cases, these forward-looking statements can be identified by words with prospective meanings such as "intend," "plan," "estimate," "believe,"
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibits to this Current Report have been provided herewith as noted below: Exhibit No. Description 99.1* Press Release, dated July 1, 2024, issued by Missouri American Water. 104 Cover Page Interactive Data File (the cover page XBRL tags are included and formatted as Inline XBRL). * Filed herewith. 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMERICAN WATER WORKS COMPANY, INC. Dated: July 1, 2024 By: /s/ JOHN C. GRIFFITH John C. Griffith Executive Vice President and Chief Financial Officer 4