Benzinga | Nov 2, 2020 09:05AM EST

American Water Works Company Announces Pennsylvania-American Water Company And Bureau Of Investigation And Enforcement Entered Into A Settlement Agreement

As previously disclosed, on April 29, 2020, Pennsylvania-American Water Company ("PAWC"), a wholly owned subsidiary of American Water Works Company, Inc. (the "Company"), filed a general rate case with the Pennsylvania Public Utility Commission (the "PaPUC") requesting $138.6 million in additional annualized water and wastewater revenues over a two-year period. On October 30, 2020, PAWC and the Bureau of Investigation and Enforcement entered into a settlement agreement providing for a total annualized revenue increase of $70.5 million over a two-year period. The settlement agreement was filed with the PaPUC effective November 2, 2020. In November 2020, PAWC and the remaining active parties in the case will present their positions in briefs to the Administrative Law Judge, who will then issue to the PaPUC a recommended decision, including a recommendation on the settlement, on or before December 24, 2020. After its review of the matter, the PaPUC will issue a final order, which PAWC currently expects to occur during the first quarter of 2021.