American Water Files Missouri Rate Case

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

From the Filing

0001410636-24-000124.txt : 20240701 0001410636-24-000124.hdr.sgml : 20240701 20240701172339 ACCESSION NUMBER: 0001410636-24-000124 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240701 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240701 DATE AS OF CHANGE: 20240701 FILER: COMPANY DATA: COMPANY CONFORMED NAME: American Water Works Company, Inc. CENTRAL INDEX KEY: 0001410636 STANDARD INDUSTRIAL CLASSIFICATION: WATER SUPPLY [4941] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 510063696 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34028 FILM NUMBER: 241091889 BUSINESS ADDRESS: STREET 1: 1 WATER STREET CITY: CAMDEN STATE: NJ ZIP: 08102-1658 BUSINESS PHONE: 856-955-4001 MAIL ADDRESS: STREET 1: 1 WATER STREET CITY: CAMDEN STATE: NJ ZIP: 08102-1658 8-K 1 awk-20240701.htm FORM 8-K - MISSOURI AMERICAN WATER GENERAL RATE CASE FILING awk-20240701 July 1, 2024 0001410636 false 0001410636 2024-07-01 2024-07-01 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 1, 2024 American Water Works Company, Inc. (Exact name of registrant as specified in its charter) Commission File Number: 001-34028 Delaware 51-0063696 (State or other jurisdiction of incorporation) (IRS Employer Identification No.) 1 Water Street Camden , NJ 08102-1658 (Address of principal executive offices, including zip code) ( 856 ) 955-4001 (Registrant’s telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol Name of Each Exchange on Which Registered Common stock, par value $0.01 per share AWK New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 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