Regulated Acquisitions and Growth Outlook
General Rate Case and Regulatory Updates
AMERICAN WATER
•
Rate Cases in Progress
Rate case filed 7/1/22
•
Will establish rates for the period 2024-2026
•
Three-year capital investment of ~$462 million
AMERICAN WATER
•
CALIFORNIA
INDIANA
AMERICAN WATER
WEST VIRGINIA
AMERICAN WATER
KENTUCKY
AMERICAN WATER
VIRGINIA
AMERICAN WATER
•
Rates expected to be retroactive back to Jan. 1, 2024
•
Rate case filed 3/31/23
.
• Capital Investment of ~$875 million
•
Rates expected to be effective over three steps
beginning Jan. 2024, May 2024, and May 2025
Rate case filed 5/1/23
.
Capital Investment of ~$340 million
• Rates expected to be effective beginning Feb. 2024
• Rate case filed 6/30/23
•
Capital Investment of ~$330 million
• Rates expected to be effective beginning Feb. 2024
• Rate case filed 11/1/23
•
Capital Investment of ~$110 million
• Interim rates expected to be effective beginning May 2024
•
Rate case filed 11/8/23
•
Capital Investment of ~$1 billion
•
PENNSYLVANIA
AMERICAN WATER Rates expected to be effective beginning Aug. 2024
VIRGINIA
Completed Rate Cases in 2023
• General Rate Case
• Additional authorized revenues of $11 million
AMERICAN WATER
MISSOURI
AMERICAN WATER
• Effective 4/24/23
• General Rate Case
.
Additional authorized revenues of $95 million, including
$51M for infrastructure surcharges previously approved
•Effective 5/28/23
Other Regulatory Updates
On June 29, the California CPUC issued a decision on the cost of capital application
authorizing an 8.98% ROE with an equity component of 57.04%.
On June 30, California American Water filed a request to seek a 52 basis point increase to
California American Water's ROE for 2023, which was approved on July 25, increasing the
ROE to 9.50%, effective July 31.
On October 16, California American Water filed a request to increase the ROE to 10.2%
for 2024, which was approved on November 15, effective January 1, 2024.
On October 10, 2023, the Monterey Peninsula Water Management District (MPWMD)
adopted a resolution of necessity to authorize it to file an eminent domain lawsuit with
respect to the Company's Monterey, California water system assets.
While the Company cannot currently predict the outcome of any such lawsuit, the
Company believes that, given existing legal precedent related to similar attempts
by public agencies in California to take over water systems, California American
Water should be able to defend itself successfully against an eminent domain
lawsuit by the MPWMD.
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