Item 8.01. Other events.
California Coastal Commission Approval of Coastal Development Permit Application
On November 18, 2022, California-American Water Company (“Cal Am”), a wholly owned subsidiary of American Waterworks Company, Inc. (the “Company”), announced that the November 17, 2022the California Coastal Commission approved Cal Am’s Initial Jurisdiction Coastal Development Permit application for angled intake wells to supply water to a desalination plant Cal Am intends to construct as part of the Monterey Peninsula Water Supply Project (there “Water supply project“). The water supply project is intended, among other things, to fulfill Cal Am’s obligations to eliminate unauthorized diversion of the Carmel River as required by the orders of the California State Water Resources Control Board. Cal Am will continue to seek the remaining permits needed to construct the Water supply project. Construction of the desalination plant is expected to start in 2024 and the desalination plant is expected to be in operation by the end of 2027.
A copy of the press release issued by Cal Am on November 18, 2022 was filed as Exhibit 99.1 hereto and is incorporated herein by reference. References and links to websites and other information contained in the press release are not provided as active hyperlinks, and the information contained in or accessible through such hyperlinks should not be incorporated into or form part of this current report on Form 8-K. .
Caution Regarding Forward-Looking Statements
Certain statements included in this current report on Form 8-K (or attachments) are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the Private Securities Litigation Reform Act. 1995. In some instances, these forward-looking statements may be identified by words with forward-looking meanings such as “intend”, “plan”, “estimate”, “believe”, “anticipate”, “expect”. to”, “predict”, “project”, “propose”, “assume”, “plan”, “outlook”, “future”, “pending”, “goal”, “target”, “potential”, “continue “, “seek to”, “may”, “may”, “will”, “should” and “could”, or the negative of these terms or other variations or similar expressions. These forward-looking statements are predictions based on the the Company’s current expectations and assumptions regarding future events and do not constitute guarantees or assurances of results, performance or achievement, and readers are cautioned not to place undue reliance thereon. Forward-looking statements are subject to a number of estimates and assumptions, as well as known and unknown risks, uncertainties and other factors. Actual results may differ materially from those discussed in the forward-looking statements included in this current report on Form 8-K due to the factors discussed in the company’s annual report on Form 10-K for the fiscal year ended. December 31, 2021as filed with the
Security and Exchange Commission (the “SEC”) on February 16, 2022and other deposits with the SECONDand additional risks and uncertainties, including with respect to: (1) obtaining remaining regulatory and other approvals and consents required to construct the desalination plant and to complete the other components of the Water supply project; (2) the timetable for the commissioning date of the desalination plant; (3) unforeseen costs, liabilities or delays associated with the Water supply project and the construction of the desalination plant; (4) regulatory, legislative, local, municipal or private actions or challenges Water supply project or the construction of the desalination plant; and (5) other economic, commercial and other factors.
These forward-looking statements are qualified by, and should be read in conjunction with, the risks and uncertainties set forth above and the risk factors included in the Company’s annual and quarterly reports as filed with the SECOND, and readers should refer to such risks, uncertainties and risk factors when evaluating such forward-looking statements. All forward-looking statements speak only as of the date of this current report on Form 8-K. The Company undertakes no obligation or intention to update or revise any forward-looking statement, whether as a result of new information, future events, new circumstances or otherwise, except as required by federal securities laws require it. New factors appear from time to time and it is impossible for us to predict all of them. Further, it may not be possible to assess the impact of any such factor on the Company’s or Cal Am’s business, whether considered independently or together, or the extent to which any one factor or combination factors could cause results to differ materially from those contained in any forward-looking statement. The foregoing factors should not be construed as exhaustive.
Item 9.01. Financial statements and supporting documents.
The following exhibits of this current report have been furnished herewith as set forth below:
Exhibit No. Description of Exhibit
99.1* Press Release, dated November 18, 2022, issued by Cal Am .
Cover Page Interactive Data File (the cover page XBRL tags are included and
104 formatted as Inline XBRL).
* Filed herewith.
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