American Water subsidiary gets $1.7M rate hike in Iowa
Ticker: AWK · Form: 8-K · Filed: May 22, 2025 · CIK: 1410636
Sentiment: neutral
Topics: regulatory, rate-case, utility
Related Tickers: AWK
TL;DR
Iowa American Water gets $1.7M rate increase approved, effective immediately.
AI Summary
On May 21, 2025, American Water Works Company, Inc. reported on a general rate case order from the Iowa Utilities Board concerning its subsidiary, Iowa American Water. The order approves a settlement that will result in an increase in annual operating revenues for Iowa American Water by approximately $1.7 million, effective May 21, 2025.
Why It Matters
This rate increase will allow Iowa American Water to recover costs and invest in infrastructure, potentially leading to improved service and reliability for its customers in Iowa.
Risk Assessment
Risk Level: low — The filing concerns a routine regulatory rate adjustment for a subsidiary, which is a common occurrence for utility companies.
Key Numbers
- $1.7 million — Annual Revenue Increase (Approved by Iowa Utilities Board for Iowa American Water.)
Key Players & Entities
- American Water Works Company, Inc. (company) — Registrant
- Iowa American Water (company) — Subsidiary
- Iowa Utilities Board (company) — Regulatory body
- $1.7 million (dollar_amount) — Annual revenue increase
- May 21, 2025 (date) — Effective date of rate increase
FAQ
What is the specific impact of the Iowa Utilities Board order on Iowa American Water's revenue?
The order approves a settlement that will increase Iowa American Water's annual operating revenues by approximately $1.7 million.
When does the approved rate increase become effective?
The rate increase is effective May 21, 2025.
Which subsidiary of American Water Works Company, Inc. is affected by this filing?
Iowa American Water is the subsidiary affected by this filing.
What type of regulatory proceeding led to this filing?
The filing relates to a general rate case order from the Iowa Utilities Board.
What is the primary purpose of this Form 8-K filing?
The primary purpose is to report on the "Other Events" and "Financial Statements and Exhibits" related to the Iowa American Water general rate case order.
Filing Details
This Form 8-K (Form 8-K) was filed with the SEC on May 22, 2025 regarding American Water Works Company, Inc. (AWK).