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Stock Market & Financial Investment News

News Breaks
April 28, 2014
10:01 EDTAWKNew York American Water agrees to acquire Lucas Estates Water Company
New York American Water announced that it has signed an agreement to purchase the Lucas Estates Water Company in the Town of Rochester, Ulster County, NY. The water system acquisition agreement now moves to the New York Public Service Commission for approval. New York American Water will provide the systems’ more than 30 customer accounts with water service. Financial terms of the sale were not disclosed.
News For AWK From The Last 14 Days
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July 31, 2015
18:23 EDTAWKMissouri American Water files rate request
Missouri American Water filed an application with the Missouri Public Service Commission to adjust rates for water and sewer service in all of the company’s operating districts. Missouri American Water’s last general rate case was approved by the MoPSC in April 2012. The company’s investments in water and sewer system improvements are the primary driver behind this rate request. From January 1, 2012 to January 31, 2016, Missouri American Water will have invested approximately $436M in water and sewer infrastructure statewide. These improvements to local water and sewer plants, pumps and pipes help to enhance service quality, reliability, environmental performance, public health and fire protection for customers. Rates will not change until the MoPSC completes a comprehensive audit of the request. The 11-month process includes public hearings and opportunities for public comment. Four years will have passed since Missouri American Water’s last rate increase in 2012, if the MoPSC maintains its traditional 11-month review schedule. The company is requesting a general increase of about $49.3M per year for water rates and about $1.8M per year for sewer rates. Missouri American Water, a subsidiary of American Water (AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 1.5M people.
July 27, 2015
17:38 EDTAWKAmerican Water subsidiary acquires Russiaville Water
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