Document/ExhibitDescriptionPagesSize 1: 8-K Form 8-K - 2022 Njawc Rate Case Settlement HTML 39K
2: EX-99.1 Press Release of New Jersey-American Water HTML 13K
7: R1 Document and Entity Information Document HTML 46K
10: XML IDEA XML File -- Filing Summary XML 12K
8: XML XBRL Instance -- awk-20220817_htm XML 22K
9: EXCEL IDEA Workbook of Financial Reports XLSX 8K
4: EX-101.DEF XBRL Definitions -- awk-20220817_def XML 16K
5: EX-101.LAB XBRL Labels -- awk-20220817_lab XML 78K
6: EX-101.PRE XBRL Presentations -- awk-20220817_pre XML 40K
3: EX-101.SCH XBRL Schema -- awk-20220817 XSD 11K
11: JSON XBRL Instance as JSON Data -- MetaLinks 13± 19K
12: ZIP XBRL Zipped Folder -- 0001410636-22-000148-xbrl Zip 22K
‘8-K’ — Form 8-K – 2022 Njawc Rate Case Settlement
(Address of principal executive offices, including zip code)
(i856)
i955-4001
(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:
i☐ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
i☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
i☐ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
i☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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 i☐
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. ☐
Securities
registered pursuant to Section 12(b) of the Act:
Title of Each Class
Trading Symbol
Name of Each Exchange on Which Registered
iCommon
stock, par value $0.01 per share
iAWK
iNew York Stock Exchange
Item
8.01. Other Events.
New Jersey Board of Public Utilities (the “NJBPU”) Order Approving Stipulation and Settlement of New Jersey-American Water Company, Inc. (“NJAWC”) General Rate Case
On August 17, 2022, the NJBPU issued an order approving a stipulation and settlement (the “Settlement”) of a general rate case filed on January 14, 2022 by NJAWC, a wholly owned subsidiary of American Water Works Company, Inc., seeking $94.7 million of increased annualized revenues. The Settlement was entered into among NJAWC, the staff of the NJBPU, the New Jersey Division of Rate Counsel, and several intervenors in the general rate case. The order approves a $45.5 million annualized increase in water and wastewater revenues, effective as of September
1, 2022, based on an authorized return on equity (“ROE”) of 9.6%, authorized rate base of $4.15 billion, a common equity ratio of 54.6% and a long-term debt ratio of 45.4%, compared to an authorized ROE of 9.6%, authorized rate base of $3.57 billion, a common equity ratio of 54.6% and a long-term debt ratio of 45.4%, as approved in NJAWC’s last general rate case in 2020. NJAWC’s request incorporated updated estimates of production costs, including chemicals, fuel and power costs. Beginning January 1, 2023, NJAWC will defer as a regulatory asset or liability, as appropriate, the difference between its pension expense and other post-employment benefits (OPEB) expense included in base rates. The deferral period for this regulatory asset or liability will be two years or, if earlier, will end at the conclusion of NJAWC’s next general rate case. NJAWC also withdrew its request, without prejudice, to recover its
existing authorized COVID-19-related regulatory asset in the general rate case and will seek recovery in a separate proceeding within the process established in the NJBPU’s generic COVID-19 proceeding.
A copy of the press release issued by NJAWC on August 17, 2022 to announce the issuance of the NJBPU’s order has been filed as Exhibit 99.1 hereto and is incorporated herein by reference. References and links to websites and other information
contained in the 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:
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.