American Water Works Files Hawaii Rate Case
Ticker: AWK · Form: 8-K · Filed: Aug 5, 2024 · CIK: 1410636
| Field | Detail |
|---|---|
| Company | American Water Works Company, INC. (AWK) |
| Form Type | 8-K |
| Filed Date | Aug 5, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.01, $2.5 m, $41 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: regulatory, rate-case, utility
Related Tickers: AWK
TL;DR
AWK subsidiary Hawaii American Water filed a rate case. Expect rate adjustments.
AI Summary
American Water Works Company, Inc. filed an 8-K on August 2, 2024, to report the filing of a rate case by its subsidiary, Hawaii American Water. This filing is a routine regulatory step for the company to seek approval for new water rates in Hawaii.
Why It Matters
This filing indicates a regulatory process initiated by American Water Works' subsidiary to adjust its water rates, which could impact customer costs and the company's revenue in Hawaii.
Risk Assessment
Risk Level: low — Rate case filings are standard regulatory procedures for utility companies and do not inherently represent a significant new risk.
Key Players & Entities
- American Water Works Company, Inc. (company) — Registrant
- Hawaii American Water (company) — Subsidiary filing rate case
- August 2, 2024 (date) — Date of earliest event reported
FAQ
What is the purpose of this 8-K filing?
The purpose of this 8-K filing is to report that the registrant's subsidiary, Hawaii American Water, has filed a rate case.
Which subsidiary of American Water Works is involved in this filing?
Hawaii American Water is the subsidiary involved in this filing.
What type of regulatory action has Hawaii American Water initiated?
Hawaii American Water has initiated a rate case filing.
On what date was the earliest event reported in this filing?
The earliest event reported in this filing was on August 2, 2024.
What is the principal executive office address for American Water Works Company, Inc.?
The principal executive office address is 1 Water Street, Camden, NJ 08102-1658.
Filing Stats: 1,153 words · 5 min read · ~4 pages · Grade level 14 · Accepted 2024-08-05 07:31:31
Key Financial Figures
- $0.01 — ich Registered Common stock, par value $0.01 per share AWK New York Stock Exchange
- $2.5 m — ed incremental revenue of approximately $2.5 million, and is based on a proposed retur
- $41 million — ue is driven primarily by approximately $41 million of incremental capital investments comp
Filing Documents
- awk-20240802.htm (8-K) — 35KB
- exhibit991-hawaiiratecasef.htm (EX-99.1) — 10KB
- imagea.jpg (GRAPHIC) — 80KB
- 0001410636-24-000148.txt ( ) — 309KB
- awk-20240802.xsd (EX-101.SCH) — 2KB
- awk-20240802_def.xml (EX-101.DEF) — 14KB
- awk-20240802_lab.xml (EX-101.LAB) — 25KB
- awk-20240802_pre.xml (EX-101.PRE) — 15KB
- awk-20240802_htm.xml (XML) — 3KB
01. Other Events
Item 8.01. Other Events. Filing of General Rate Case with the Public Utilities Commission of the State of Hawaii (the "HPUC") by Hawaii-American Water Company ("Hawaii American Water") On August 2, 2024, Hawaii American Water, a wholly owned subsidiary of American Water Works Company, Inc. (the "Company"), filed with the HPUC a request to review its wastewater rates. The request seeks annualized incremental revenue of approximately $2.5 million, and is based on a proposed return on equity of 10.67 % and a capital structure with an equity component of 52.11% and a long-term debt component of 47.89%. The requested annualized incremental revenue is driven primarily by approximately $41 million of incremental capital investments completed and planned by Hawaii American Water through 2025. Hawaii American Water anticipates that the general rate case proceeding will be completed by mid-2025. A copy of the press release issued by Hawaii American Water on August 5, 2024 to announce the filing 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 exhibit 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," "anticipate," "expect," "predict," "project," "propose," "assume," "forecast," "outlook," "future," "pending," "goal," "objective," "
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: 2 Exhibit No. Description 99.1* Press Release, dated August 5 , 2024, issued by Hawaii 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: August 5, 2024 By: /s/ DAVID M. BOWLER David M. Bowler Executive Vice President and Chief Financial Officer 4