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MarketScreener Homepage  >  Equities  >  Nyse  >  American Water Works Company, Inc.    AWK

AMERICAN WATER WORKS COMPANY, INC.

(AWK)
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New Jersey American Water : Offers H2O Help to Others Program and Additional Payment Assistance to Customers

10/07/2020 | 12:31pm EST

New Jersey American Water wants to remind customers in need of help with their water or wastewater bill they can turn to the company’s H2O Help to Others Program™ and other payment assistance programs.

For nearly a decade, New Jersey American Water has been assisting qualified customers through this unique assistance program. H2O Help to Others Program is administered by New Jersey SHARES (NJ SHARES), a nationally recognized nonprofit organization providing statewide help, guidance and referral for essential services to New Jersey residents in need of assistance.

“While water service is a tremendous value at just a penny per gallon, we understand the water bill is not the only bill our customers pay and that many people are facing additional hardship due to the COVID-19 public health emergency,” explained Cheryl Norton, president of New Jersey American Water. “So we are happy to provide increased assistance to customers who need it.”

Through the company’s H2O Help to Others Program, assistance is made available to customers in two distinct ways – through grants and/or a discount on service charges. Customers meeting lower income requirements can qualify for grants of up to $500 to help pay their indoor water bill. Qualified customers also have the opportunity to receive up to 100 percent discount on their monthly fixed service charge for water and/or wastewater bill. Customers who qualify for the service charge discount are also eligible to receive an additional discount off the monthly distribution system infrastructure surcharge (DSIC), based on their meter size.

In an effort to make it easier for customers impacted by COVID-19 to apply and qualify for assistance, New Jersey American Water recently expanded its H2O Program to include:

  • Increased eligibility for customers (including those impacted by COVID-19)
  • Temporarily waiving the $100 payment requirement through Dec. 31, 2020 to receive the H2O grant
  • Temporarily waiving the restriction of receiving a grant only every three years through Dec. 31, 2020 for any customer that has not yet received a grant in 2020
  • Temporarily waiving the requirement of no broken payment arrangements within the past year through Dec. 31, 2020
  • Temporarily making both programs available to landlords who don’t live at the property and meters that are shared by more than one owner (both previously excluded)
  • Changing the income recertification requirement for the service charge discount from two years to one year for customers receiving unemployment benefits who apply for assistance through Dec. 31, 2020
  • Expanding the DSIC discount to those who qualify for the service charge discount, for customers who apply through Dec. 31, 2020

Customers interested in learning more about the program and its qualifications are encouraged to contact the program administrator, NJ SHARES, directly at 877-NJAWH2O (652-9426), or online at www.njshares.org. More information can also be found online at www.newjerseyamwater.com – click the “Customer Service & Billing” tab, then select “Bill Paying Assistance” from the drop down menu.

Additionally, New Jersey American Water offers payment arrangements and budget billing for customers who need assistance paying their bills but may not qualify for the H2O Program. Customers who would like to explore these options are encouraged to call the Customer Service Center at 800-272-1325.

About New Jersey American Water

New Jersey 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 2.8 million people. For more information, visit www.newjerseyamwater.com and follow New Jersey American Water on Twitter and Facebook.

About American Water

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 6,800 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to 15 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 2020
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Financials (USD)
Sales 2020 3 795 M - -
Net income 2020 704 M - -
Net Debt 2020 10 099 M - -
P/E ratio 2020 39,4x
Yield 2020 1,39%
Capitalization 27 867 M 27 867 M -
EV / Sales 2020 10,0x
EV / Sales 2021 9,61x
Nbr of Employees 6 800
Free-Float 96,8%
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 156,31 $
Last Close Price 153,73 $
Spread / Highest target 13,8%
Spread / Average Target 1,68%
Spread / Lowest Target -26,5%
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Managers
NameTitle
Walter J. Lynch President, CEO, Chief Operating Officer & Director
Karl F. Kurz Non-Executive Chairman
M. Susan Hardwick Chief Financial Officer & Executive Vice President
George F. MacKenzie Independent Director
Julia L. Johnson Independent Director