AWK's Shares Gain as Unit Secures Approval for New Rates

American Water Works Company, Inc.’s (AWK) unit, New Jersey American Water, has been granted new water and wastewater rates by the New Jersey Board of Public Utilities, effective from Sep. 15, 2024. This rate hike is likely to increase the company’s annual revenues by approximately $79.5 million.The company's request was filed in January 2024 as it wanted to recover infrastructure investment costs of more than$1.3 billion. This includes upgrades in the treatment system and distribution networks.Rate Hike - ...