Form 8-K - Current report

November 6, 20240001410636false00014106362024-11-062024-11-06

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 6, 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)

[phone]

(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. ☐

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Item 8.01.    Other Events.

Approval of Order Following Rehearing Request in Kentucky-American Water Company (“Kentucky American Water”) General Rate Case

As previously disclosed, on May 16, 2024, Kentucky American Water, a wholly owned subsidiary of American Water Works Company, Inc., filed a petition for rehearing of an order (the “Original Order”) issued by the Kentucky Public Service Commission (the “KPSC”) with respect to Kentucky American Water’s June 30, 2023 water rate adjustment request. On November 6, 2024, the KPSC approved a final order (the “Final Order”) providing for a $17.3 million annualized increase in water revenues, an increase of $6.7 million from the Original Order approving a $10.6 million annualized increase in water revenues. New rates provided in the Final Order were effective November 6, 2024.

A copy of the press release issued by Kentucky American Water on November 12, 2024, 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.

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 November 12, 2024, issued by Kentucky American Water.
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 12, 2024

By:

/s/ DAVID M. BOWLER

David M. Bowler

Executive Vice President and Chief Financial Officer

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Exhibit 99.1

Kentucky American Water Receives Approval for New

Rates from Kentucky Public Service Commission

Supports $330 Million in System Investments

Lexington, Ky., (November 12, 2024) – The Kentucky Public Service Commission (PSC) has issued an order approving adjusted water rates for Kentucky American Water following the company’s June 2023 request for a rate adjustment and a previous PSC order in the case issued on May 3, 2024. The request was driven by $330 million in completed or planned water system investments made since the PSC last adjusted the company’s base rates for water service in 2019. These improvements include replacement of aging pipe, water treatment plant upgrades and system resiliency projects that will help Kentucky American Water continue the provision of clean, safe and reliable service for customers.

The rate order for the June 2023 rate case approves an overall increase in water rates of approximately $17.3 million.

“Kentucky American Water is committed to making the needed infrastructure improvements across our service areas so we can continue to provide the high level of safety, service, and reliability that our customers expect and deserve,” said Kathryn Nash, president, Kentucky American Water. “In addition, we will continue to remain focused on opportunities for greater efficiencies to help maintain affordable rates for customers.”

An interim adjustment in rates, based on those the company proposed in its June 2023 filing, became effective on February 6, 2024. The PSC adjusted the interim rates in its May 2024 order. Because the May decision represented a reduction in the interim rates implemented in February 2024, the company issued to customers credits for the difference, including interest, using the Federal Reserve’s “bank prime loan” rate.

The PSC then issued on Nov. 6 a subsequent order resulting in additional rate adjustment.

Kentucky American Water reminds customers facing circumstances that are stretching their financial resources about its bill paying assistance programs that include payment plans, budget

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billing and, for income-eligible customers, the company’s H2O Help to Others customer assistance program. More information can be found by clicking the Customer Assistance Program link under Customer Service & Billing on the company’s website. For tips on how to reduce your water bill by conserving water, visit the Wise Water Use page on website at https://www.amwater.com/kyaw/Water-Wastewater-Information/wise-water-use.

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 6,500 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 Kentucky American Water

Kentucky American Water, a subsidiary of American Water, is the largest investor-owned water utility in the state, providing high-quality and reliable water and wastewater services to approximately 560,000 people.

AWK-IR

Media Contact:

Susan Lancho

Senior Manager, External and Government Affairs

859-268-6332

[e-mail]

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Document and Entity Information Document	Nov. 06, 2024
Document Information [Line Items]
Document Type	8-K
Document Period End Date	Nov. 06, 2024
Entity Registrant Name	American Water Works Company, Inc.
Entity File Number	001-34028
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	51-0063696
Entity Address, Address Line One	1 Water Street
Entity Address, City or Town	Camden
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08102-1658
City Area Code	856
Local Phone Number	955-4001
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	AWK
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Entity Central Index Key	0001410636
Amendment Flag	false

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