American Water Works Unit's Proposal For New Rates Ok'd
Zacks Investment Research | Aug 25, 2016 08:34AM ET
A business unit of American Water Works Company, Inc. (NYSE:AWK) – Kentucky American Water – has received an approval from the Kentucky Public Service Commission (PSC) for implementing new water and wastewater rates, effective Aug 28, 2016. The proposal was filed this January, and the request has undergone extensive public and regulatory scrutiny.
Impact of Rate Hike
Customers using an average 4,136 gallons of water per month will see utility bills increase by $2.97 or 8.6% to $37.38. The new rates will, however, still be lower than a penny per gallon. The latest rate hike will add $6.5 million to Kentucky American Water’s annual revenues.
Investments since Last Rate Hike
Since the last rate hike request in Dec 2012, Kentucky American Water has invested nearly $79 million in the improvement and upgrade of its existing infrastructure. The company replaced old water mains, upgraded pumps to more efficient models and invested in a water treatment plant in Lexington to replace a 90-year-old structure.
AMER WATER WORK Price
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.