Tennessee American Water issued a $13.07 bill credit to customers on November 10, pushing total PFAS settlement refunds past $84 per customer as the utility prepares over $50 million in capital improvements.
American Water's Tennessee subsidiary received PFAS settlement proceeds, but the entire $13.07 credit (over $84 per customer in total) is passed through to water customers as bill credits, not to shareholders. The planned over $50 million in capital improvements supports rate-base growth, but the settlement money itself does not change earnings.
Tennessee American Water, a subsidiary of American Water (NYSE: AWK), applied a $13.07 credit to customer accounts on November 10. This latest distribution brings total PFAS-related settlement refunds to over $84 per customer, following approval from the Tennessee Public Utility Commission to pass settlement proceeds directly to users.
No. With utility commission approval, the funds are passed directly to customers as bill credits, with the latest $13.07 credit applied November 10, bringing the total to over $84 per customer.
Largely neutral: the refunds benefit customers rather than the company's profits, though the over $50 million investment plan to meet PFAS rules adds to the utility's capital program.