American Water Works Company, Inc 8-K, filed Nov 18, 2021
American Water Works Company, Inc. (AWK)
8-K
2021-11-18
For: 2021-11-18
View Original
Added on
April 09, 2026
About this 8-K
American Water Works Company, Inc filed this 8-K on November 18, 2021.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
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): November 18, 2021
American Water Works Company, Inc.
(Exact name of registrant as specified in its charter)
Commission File Number: 001-34028
| (State or other jurisdiction of incorporation) | (IRS Employer Identification No.) | ||||
(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:
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered | ||||||||||||
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.
California Public Utilities Commission Issues Final Decision in General Rate Case
As previously reported, in 2019, the California subsidiary of American Water Works Company, Inc. (the “Company”) filed a general rate case with the California Public Utilities Commission (the “CPUC”) requesting $27 million in annualized incremental water and wastewater revenues for 2021, and increases of $10 million in both the escalation year of 2022 and the attrition year of 2023, respectively. In January and February 2021, the Company’s California subsidiary filed comprehensive settlements in the general rate case resolving substantially all disputed matters among the parties to the settlements.
On November 18, 2021, the CPUC unanimously approved a final decision adopting the comprehensive general rate case settlements. Pursuant to this final decision, which is retroactive to January 1, 2021, the Company’s California subsidiary has been authorized annualized incremental water and wastewater revenues of $17.9 million for 2021, and increases of $7.7 million for each of 2022 and 2023. The final decision also authorizes the Company’s California subsidiary to make $165 million in new infrastructure investments for water and wastewater service for 2021 and 2022. The new rates will be implemented in the first quarter of 2022.
A copy of the press release issued by the Company’s California subsidiary on November 18, 2021 has been filed as Exhibit 99.1 hereto and is incorporated herein by reference.
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* | ||||||||
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are included and formatted as Inline XBRL). | |||||||
| * Filed herewith. | ||||||||
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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: | November 18, 2021 | By: | /s/ M. SUSAN HARDWICK | |||||||||||
| M. Susan Hardwick | ||||||||||||||
| Executive Vice President and Chief Financial Officer | ||||||||||||||
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Exhibit 99.1
California Public Utilities Commission Issues Order Approving Settlement Reached in California American Water’s General Rate Case
SAN DIEGO (November 18, 2021) – The California Public Utilities Commission (CPUC) issued a final decision in California American Water’s General Rate Case at its meeting on November 18, 2021. The final decision adopts the comprehensive settlement California American Water reached with the CPUC’s Public Advocates Office, as well as two additional settlements reached with intervenors.
Under the CPUC’s final decision, which is retroactive to January 1, 2021, California American Water will be authorized additional annualized water and wastewater revenues of $17.9 million for test year 2021, $7.7 million for escalation year 2022 and $7.7 million for attrition year 2023.
The decision also authorizes $165 million in new infrastructure investment for forecasted test years 2021-2022 to maintain high-quality water and wastewater service. These investments, which include upgrades to distribution systems, treatment facilities, storage tanks and pump stations, are necessary to maintain and improve water quality, reliability, fire protection and customer service for the communities served by California American Water.
“This decision strikes the right balance to see that customers benefit from investments in water treatment and distribution while maintaining our commitment to affordability and customer assistance for those in need,” said California American Water President Kevin Tilden. “We want to continue to provide customers excellent value for their water service and maintain our systems to provide high-quality water service.”
Rate cases are proceedings used to address the capital investment needed for infrastructure, the costs of operating and maintaining the utility system and the allocation of those costs among customer classes. Large, regulated water utilities like California American Water are required by law to file a General Rate Case every three years with the CPUC to set revenues and rates.
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With this approval of the CPUC’s decision, California American Water will prepare to implement the new rates in early 2022. Customers should expect to receive more information ahead of the implementation of new rates in each of California American Water’s water and wastewater service areas, as well as information about customer assistance and conservation programs.
About California American Water: California American Water, a subsidiary of American Water (NYSE: AWK), provides high-quality and reliable water and wastewater services to more than 880,000 California residents. Information regarding California American Water’s service areas can be found on the company’s website www.californiaamwater.com.
About American Water: With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 7,000 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to 15 million people in 46 states. American Water provides safe, clean, affordable and reliable water services to our customers to help make sure we keep their lives flowing. For more information, visit amwater.com and follow American Water on Twitter, Facebook and LinkedIn.
Media Contacts
Evan Jacobs
Director of External Affairs
Phone: 707-495-6135
Email: evan.jacobs@amwater.com
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