American Water says Virginia SCC approves rate settlement

The Virginia State Corporation Commission has approved a settlement for new water and wastewater rates for Virginia American Water (AWK), the company announced. The approved rates represent a total annualized revenue increase of approximately $14.6M. The company’s rate request was filed on November 1, 2023, and was primarily driven by more than $110M in infrastructure investment in treatment system and distribution upgrades since its last rate filing, the company said.