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MarketScreener Homepage  >  Equities  >  Nyse  >  American Water Works Company    AWK

AMERICAN WATER WORKS COMPANY

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Pennsylvania American Water : Reminds Customers of Financial Assistance Available through H2O Help to Others Program

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12/03/2019 | 01:52pm EST

Company encourages and matches donations to Dollar Energy Fund on Giving Tuesday

On Giving Tuesday, Pennsylvania American Water reminds customers that it offers financial relief for income-qualified residential customers having difficulty paying their water and sewer bills through its H2O Help to Others Program. The program, which has helped families in need for more than 25 years, is administered by Dollar Energy Fund, an independent, non-profit organization focused on utility assistance.

“We recognize that some families face economic challenges, and we are committed to helping our customers in need through these programs,” said Pennsylvania American Water President Mike Doran. “We want to ensure that safe, reliable, affordable tap water and sanitation services remain available to households and individuals struggling to make ends meet because we all rely on water for nearly every component of our daily lives.”

Pennsylvania American Water’s H2O Program offers a three-fold approach including hardship grants of up to $500, discounts on monthly water and wastewater charges, and water saving devices and conservation education.

The program is funded by annual donations from Pennsylvania American Water, which provides approximately $450,000 in available aid each year. The company also gives customers the opportunity to add donations to their monthly water and wastewater bills and matches these donations dollar for dollar.

“Our objective for this year’s Giving Tuesday is twofold,” Doran explained. “First, we want to make sure our customers facing financial hardships know where and how to get help when they need it. Second, we want to remind all customers that if they too want to assist neighbors in need through the Dollar Energy Fund, we will match their donations today for Giving Tuesday and throughout the year.”

The program’s water service assistance program provides grants of up to $500 per year for households at or below 200 percent of the Federal Poverty Income Guidelines (FPIG) and an 85 percent discount on the monthly water service charge (discount of approximately $14 per month), for households at or below 150 percent of the FPIG. For wastewater assistance, the program also provides grants of up to $500 per year for households at or below 200 percent of the FPIG and a 20 percent discount on the total wastewater charges (discount of approximately $13 per month) for households at or below 150 percent of the FPIG.

To help promote conservation and wise water use, Pennsylvania American Water offers a kit that includes a low-flow shower head, faucet aerators, fill cycle diverter, leak detection tablets, and an educational booklet that explains how to install the devices and provides helpful indoor and outdoor water saving tips. The company also offers budget billing for predictable monthly payments to avoid seasonal spikes and payment installment plans.

Pennsylvania American Water’s H2O Program was the first of its kind to be launched by a water utility in the United States. Since its inception in 1991, it has distributed more than $4 million in assistance to disadvantaged families across the Commonwealth and provided thousands of customers with free water-saving devices and conservation advice. Last year, 1,706 households received grants totaling $499,412, and 2,147 additional customers enrolled in the discount program.

More information can be found online at https://amwater.com/paaw/customer-service-billing/low-income-program. The company also has a short video on the program available to watch here. Customers can review the monthly income guidelines chart to determine if their income, based on household size, falls within the guidelines for enrollment.

To apply, customers should contact Dollar Energy Fund toll-free at 1-888-282-6816 or visit www.dollarenergy.org. The program is currently accepting applications for its 2019-2020 program year.

Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 2.4 million people. With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 7,100 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to more than 14 million people in 46 states. American Water provides safe, clean, affordable and reliable water services to our customers to make sure we keep their lives flowing. For more information, visit amwater.com and follow American Water on Twitter, Facebook and LinkedIn.


© Business Wire 2019
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Financials (USD)
Sales 2019 3 630 M
EBIT 2019 1 247 M
Net income 2019 646 M
Debt 2019 9 404 M
Yield 2019 1,61%
P/E ratio 2019 34,4x
P/E ratio 2020 31,3x
EV / Sales2019 8,70x
EV / Sales2020 8,46x
Capitalization 22 176 M
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Number of Analysts 14
Average target price 125,00  $
Last Close Price 122,67  $
Spread / Highest target 24,7%
Spread / Average Target 1,90%
Spread / Lowest Target -21,7%
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NameTitle
Susan N. Story President, Chief Executive Officer & Director
Karl F. Kurz Non-Executive Chairman
Walter J. Lynch Chief Operating Officer & Executive Vice President
M. Susan Hardwick Chief Financial Officer & Executive Vice President
Radhakrishnan Swaminathan Chief Technology & Information Officer, SVP