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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 14, 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
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:
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| 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 Pennsylvania Public Utility Commission (the “PaPUC”) by Pennsylvania-American Water Company (“Pennsylvania American Water”)
On November 14, 2025, Pennsylvania American Water, a subsidiary of American Water Works Company, Inc. (the “Company”), filed a request with the PaPUC to adjust its water and wastewater rates. The request seeks aggregate annualized incremental revenue of approximately $169 million, excluding projected infrastructure surcharges of approximately $19 million. The request is based on a proposed return on equity of 10.95% and a capital structure with an equity component of 55.33%. The requested annualized incremental revenue increase is driven primarily by an estimated $1.2 billion of capital investments completed or planned to be completed from June 2025 through mid-2027. The rate request is subject to approval by the PaPUC, and new rates would be expected to take effect in August 2026, unless otherwise provided in such approval.
A copy of the press release issued by Pennsylvania American Water on November 14, 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 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,” “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 PaPUC of Pennsylvania American Water’s request for adjusted water and wastewater rates; (2) the terms of any settlement agreement or stipulation, and/or order of the PaPUC, related to this request; (3) the timing of any implementation of new rates by Pennsylvania American Water, if approved; (4) regulatory, legislative, local or municipal actions affecting the water and wastewater industries, which could adversely affect the Company or Pennsylvania American Water; (5) the amount and timing of future proposed or anticipated capital expenditures and investments by Pennsylvania 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 Pennsylvania 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 Pennsylvania 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 filed herewith (except 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. |
|
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.
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| | | | AMERICAN WATER WORKS COMPANY, INC. |
| | | | | |
| Dated: | November 14, 2025 | | By: | /s/ DAVID M. BOWLER |
| | | | | David M. Bowler |
| | | | | Executive Vice President and Chief Financial Officer |
Pennsylvania American Water Files Rate Request Driven by More Than $1.2 Billion in Ongoing Investment to Provide Safe, Clean, Reliable Service
Request supports continued infrastructure investments, a new summer wastewater billing adjustment and a renter assistance pilot to expand existing affordability program
MECHANICSBURG, Pa. (Nov. 14, 2025) – Pennsylvania American Water today filed a request with the Pennsylvania Public Utility Commission (PUC) for new rates to support $1.2 billion in ongoing water and wastewater service system investments. The request reinforces the company’s commitment to implementing critical system upgrades and continuing to improve water quality and reliability for its more than 2.4 million people served statewide.
“These investments directly benefit the communities we proudly serve and provide our customers with even more reliable service and improved water quality—from treatment to the tap. It all underscores every employee’s commitment to the health and safety of our customers and the communities we serve,” said Pennsylvania American Water President Justin Ladner.
The proposed rate change will support the company’s plans to invest $1.2 billion through mid-2027 to modernize and strengthen its water and wastewater systems in communities across Pennsylvania. This investment will replace 117 miles of aging water main, continue eliminating lead service lines, and address emerging contaminants such as PFAS in drinking water. The proposed rate change would also support critical wastewater system upgrades, including the replacement of 32 miles of aging sewer main.
Under the company’s proposal, if approved, the typical residential water customer would see an increase of approximately $14 per month. Customers served by sanitary wastewater systems would see an increase of approximately $10 per month. Customers with combined stormwater and wastewater systems would see an increase of approximately $20 per month.
Proposed Rate Adjustment to Reduce Summer Wastewater Charges
As part of the request, Pennsylvania American Water is proposing a Deduct Adjustment, which calculates summertime wastewater charges based on a customer’s average winter water usage when outdoor use is typically low.
The Deduct Adjustment proposal provides a more accurate representation of the water entering the wastewater system, as it excludes seasonal outdoor uses such as lawn watering and car washing.
“This proposed adjustment allows customers to manage summer wastewater charges by accounting for outdoor water use,” continued Ladner. “It’s a change that can lead to real savings for many customers.”
Proposed Utility Assistance Pilot for Low-Income Renters
Additionally, Pennsylvania American Water is seeking permission from the PUC to implement a Renter Assistance Pilot Program (RAPP) to support low-income renters in master-metered buildings who are currently excluded from traditional utility aid. The pilot program would provide quarterly stipends for participating customers in Scranton and Butler, reflecting the company’s existing discount levels.
Pennsylvania American Water remains committed to affordability and offers programs to assist income-eligible customers, including its H2O Help to Others assistance program, budget billing options and flexible payment plans. More details can be found at pennsylaniaamwater.com/H2O.
To learn more about Pennsylvania American Water’s rate filing and the regulatory process behind it, visit pennsylvaniamwater.com/fromtreatmenttotap. For details on infrastructure investments in your community—including upgrades to treatment plants, water mains, and service lines—explore its Infrastructure Investment page.
The PUC review process offers multiple opportunities for customer involvement. Customers can participate through written comments, attendance at public input hearings, and consumer advocacy organizations that participate in the proceedings. All rate changes require PUC approval. If approved, the company’s new rates would take effect in August 2026.
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 Pennsylvania American Water
Pennsylvania American Water, a subsidiary of American Water, is the largest regulated water utility in the state with 1,200 dedicated employees working to provide safe, clean, reliable and affordable water and wastewater services to approximately 2.4 million people.
AWK-IR
Media Contact:
David Misner
Senior Manager, External Communications
Pennsylvania American Water
717-261-7525
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