8-K
American Water Works Company, Inc. (AWK)
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): May 5, 2025
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<br>of incorporation) | (IRS Employer<br>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 Rate Request with the Public Service Commission of West Virginia (the “WVPSC”) by West Virginia-American Water Company (“West Virginia American Water”)
On May 5, 2025, West Virginia American Water, a subsidiary of American Water Works Company, Inc. (the “Company”), announced that it filed a request with the WVPSC to adjust its water and wastewater rates. The request seeks aggregate annualized incremental revenues of $47.8 million, excluding infrastructure surcharges of $12.7 million, which would include two step increases, with $32.6 million to be included in rates in March 2026, and $15.2 million to be included in rates in March 2027. The request is based on a proposed return on equity of 10.75% and a capital structure with an equity component of 50.80% and 50.97%, respectively, for each of the two steps. The requested annualized incremental revenue is driven primarily by more than $300 million of capital investments completed and planned by West Virginia American Water from March 2024 through February 2027. The request is subject to approval by the WVPSC, and the general rate case is expected to be completed by the end of February 2026.
A copy of the press release issued by West Virginia American Water on May 5, 2025, 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,” “anticipate,” “expect,” “predict,” “project,” “propose,” “assume,” “forecast,” “outlook,” “future,” “pending,” “goal,” “objective,” “potential,” “continue,” “seek to,” “may,” “can,” “will,” “should” and “could,” or the negative of such terms or other variations or similar expressions. These forward-looking statements are predictions based on the Company’s current expectations and assumptions regarding future events. They are not guarantees or assurances of any outcomes, performance or achievements, and readers are cautioned not to place undue reliance upon them. The forward-looking statements are subject to a number of estimates and assumptions, and known and unknown risks, uncertainties and other factors. Actual results may differ materially from those discussed in the forward-looking statements included in this Current Report on Form 8-K as a result of the factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission (the “SEC”) on February 19, 2025, and other filings with the SEC, and additional risks and uncertainties, including with respect to (1) any approval by the WVPSC of West Virginia American Water’s request for new water and wastewater rates; (2) the terms of any settlement agreement or stipulation, and/or order of the WVPSC, related to this request; (3) the timing of any implementation of new rates by West Virginia American Water, if approved; (4) regulatory, legislative, local or municipal actions affecting the water and wastewater industries, which could adversely affect the Company or West Virginia American Water; (5) the amount and timing of future proposed or anticipated capital expenditures and investments by West Virginia American Water; and (6) other economic, financial, political, business and other factors that may impact or affect the water and wastewater industries generally or the Company or West Virginia American Water specifically.
These forward-looking statements are qualified by, and should be read together with, the risks and uncertainties set forth above and the risk factors included in the Company’s annual and quarterly reports as filed with the SEC, and readers should refer to such risks, uncertainties and risk factors in evaluating such forward-looking statements. Any forward-looking statements speak only as of the date of this Current Report on Form 8-K. The Company does not have any obligation or intention to update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except as otherwise required by the federal securities laws. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. Furthermore, it may not be possible to assess the impact of any such factor on the Company’s or West Virginia American Water’s business, either viewed independently or together, or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement.
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 May 5, 2025, issued by West Virginia American Water. |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are included and formatted as Inline XBRL). |
| *Filed herewith. |
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: | May 5, 2025 | By: | /s/ DAVID M. BOWLER |
| David M. Bowler | |||
| Executive Vice President and Chief Financial Officer |
4
Document
Exhibit 99.1
West Virginia American Water Files Rate Request Driven by More Than $300 Million of Investment
Request reinforces company’s commitment to providing safe, clean, and reliable service
Charleston, W.Va. (May 5, 2025) – West Virginia American Water filed a request today with the Public Service Commission of West Virginia (PSC) for new rates, reflecting more than $300 million of water and wastewater system investments since the company’s last rate request. The request reinforces the company’s commitment to replacing aging infrastructure and continuing to provide safe and reliable service in compliance with environmental regulations for the benefit of customers.
“Our commitment to long-term investments in our water and wastewater systems helps ensure we deliver high-quality service across the Mountain State,” said Scott Wyman, President of West Virginia American Water. “These ongoing investments are vital for providing safe, clean, and reliable service to the communities we serve. They demonstrate our dedication to the public health and safety of those communities.”
West Virginia American Water is proposing to implement new rates in two steps to promote customer affordability. If approved, the first step would go into effect March 1, 2026. The second step, establishing final rates, would become effective March 1, 2027.
If the company’s proposed rates are approved as filed with the PSC, the water bill for the average residential customer using 3,000 gallons per month would increase approximately $11 per month during the first step and approximately $5 per month in the second step. These new rates include the current Distribution System Improvement Charge (DSIC) already included on customer bills. The wastewater bill for the average residential customer using 3,000 gallons would increase approximately $8 per month during the first step and approximately $5 per month in the second step after factoring in the current Wastewater System Improvement Charge (WSIC) already included on customer bills.
The company is also proposing a Universal Affordability Discount Tariff that seeks to assist residential customers who meet income qualifications. The four-tiered proposal would tailor rates to various levels of household income. Under this proposed tariff, eligible households would receive monthly bill discounts of between 15 and 60 percent for water and wastewater service. The current Department of Health and Human Resources 20 percent discount program,
the company’s H2O Help to Others Program™, and other bill assistance and payment arrangements will continue along with the proposed Universal Affordability Discount Tariff and the new, two-step rate adjustment.
The PSC’s 300-day statutory rate review process offers multiple opportunities for customer involvement. Customers can participate through written comments, attendance at public hearings, and consumer advocacy organizations that participate in the proceedings. For more information on the company’s rate proposal and to learn how customers may participate in this process, visit westvirginiaamwater.com and select “Your Water and Wastewater Rates” under the Customer Service menu.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water’s 6,700 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
About West Virginia American Water
West Virginia American Water, a subsidiary of American Water (NYSE: AWK), is the largest regulated water utility in the state, providing safe, clean and reliable water and wastewater services to approximately 583,000 people.
AWK-IR
Media Contact
Olivia Bailey
External Affairs Manager
Olivia.Bailey@amwater.com