WASHINGTON (dpa-AFX) - Tennessee American Water, a unit of water and wastewater utility firm American Water Works Company, Inc. (AWK), said that customers will receive additional bill credits from settlements with manufacturers of per- and polyfluoroalkyl substances (PFAS), bringing total refunds to more than $84 per customer.
The latest credit of $13.07 was applied to customer accounts on November 10, following the company's receipt of additional settlement proceeds.
The credits are being provided under a plan approved by the Tennessee Public Utility Commission, allowing the company to pass on PFAS settlement funds directly to customers.
Tennessee American Water said it plans to invest more than $50 million in capital improvements across its service territories to meet new PFAS regulations.
AWK shares rose about 1% in overnight trading on the NYSE after closing at $149.66 on Wednesday.
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