California Water Service (Cal Water) has completed the purchase of
Skylonda Mutual Water Company’s water system assets, following
approval by the California Public Utilities Commission (CPUC) last
summer. Cal Water is the largest subsidiary of California Water
Service Group (NYSE: CWT).
Cal Water’s Bear Gulch District, which is adjacent to the
Skylonda system, will now provide water utility service to
Skylonda’s 156 customer connections. The Bear Gulch District
already serves about 61,000 people through approximately 19,000
service connections in Portola Valley, Woodside, Atherton, and
portions of Menlo Park, Redwood City, and San Mateo County.
Cal Water intends to invest in Skylonda’s water infrastructure
to help it remain safe and reliable for customers’ everyday needs
and firefighters’ emergency needs. Additionally, because Skylonda
is between Cal Water’s Skyline system and the rest of the Bear
Gulch District, the utility plans to interconnect the three areas
to enhance water supply reliability to the entire district.
“We have appreciated working with Skylonda Mutual Water Company
to complete the acquisition and help facilitate a seamless
transition, so that we can best provide Skylonda customers the
quality, service, and value that they expect and deserve,” said
Marty Kropelnicki, Cal Water Chairman and CEO. “We look forward not
only to delivering a reliable supply of safe, clean water to our
new customers, but also to being part of their community.”
About California Water Service and California Water
Service GroupCalifornia Water Service provides
high-quality, reliable water and/or wastewater services to about 2
million people statewide through 496,400 service connections. It is
the biggest subsidiary of California Water Service Group (Group),
the largest regulated water utility in the western United States.
In total, Group serves more than 2 million people in California,
Hawaii, New Mexico, Washington, and Texas through its regulated
subsidiaries, California Water Service, Hawaii Water Service, New
Mexico Water Service, and Washington Water Service, and its utility
holding company, Texas Water Service.
What sets Cal Water and Group apart is their commitment to
enhancing the quality of life for their customers, communities,
employees, and stockholders. Guided daily by their promise to
provide quality, service, and value, the company’s employees lead
the way in working to help protect the planet, care for people, and
operate with the utmost integrity. Integral to Cal Water and
Group’s strategy is investing responsibly in water and wastewater
infrastructure, sustainability initiatives, and community
well-being. The company has been named one of “America’s Most
Responsible Companies” and “America’s Most Trustworthy Companies”
by Newsweek and a Great Place to Work®, and is No. 1 in Customer
Satisfaction Among Large Water Utilities in the West Region* by
J.D. Power. More information is available
at www.calwater.com and www.calwatergroup.com.
*California Water Service received the highest score in the West
Large segment of the J.D. Power 2023 U.S. Water Utility Residential
Customer Satisfaction Study of customers’ satisfaction nationally
among water customers in the US. Visit jdpower.com/awards for more
details.
This news release contains forward-looking statements within the
meaning established by the Private Securities Litigation Reform Act
of 1995 ("Act"). The forward-looking statements are intended to
qualify under provisions of the federal securities laws for "safe
harbor" treatment established by the Act. Forward-looking
statements in this news release are based on currently available
information, expectations, estimates, assumptions and projections,
and management's beliefs, assumptions, judgments, and expectations
about Group and its subsidiaries, the water utility industry
and general economic conditions. These statements are not
statements of historical fact. When used in our document,
statements that are not historical in nature, including words like
will, promise, commitment, strategy, would, expects, intends,
plans, believes, may, could, estimates, assumes, anticipates,
projects, predicts, forecasts, targets, seeks, should, or
variations of such words or similar expressions are intended to
identify forward-looking statements. The forward-looking statements
are not guarantees of future performance. They are based on
numerous assumptions that Group believes are reasonable but are
subject to uncertainty and changes in circumstances. Actual results
may vary materially from what is contained in a forward-looking
statement. Factors that may cause actual results to be different
than those expected or anticipated include, but are not limited to:
ability to integrate the business and operate
the Skylonda Mutual Water Company system in an effective
and accretive manner; natural disasters, public health crises,
pandemics, epidemics or outbreaks of a contagious
disease; governmental and regulatory commissions' decisions,
including decisions on proper disposition of property; consequences
of eminent domain actions relating to our water systems; changes in
regulatory commissions' policies and procedures; the timeliness of
regulatory commissions' actions concerning rate relief and other
actions; changes in water quality standards; changes in
environmental compliance and water quality requirements; electric
power interruptions; housing and customer growth trends; the impact
of opposition to rate increases; our ability to recover costs;
availability of water supplies; issues with the implementation,
maintenance or security of our information technology systems;
civil disturbances or terrorist threats or acts; the adequacy of
our efforts to mitigate physical and cyber security risks and
threats; the ability of our enterprise risk management processes to
identify or address risks adequately; labor relations matters as we
negotiate with unions; changes in customer water use patterns and
the effects of conservation; the impact of weather, climate,
natural disasters, and diseases on water quality, water
availability, water sales and operating results, and the adequacy
of our emergency preparedness; and other risks and unforeseen
events. When considering forward-looking statements, you should
keep in mind the cautionary statements included in this paragraph,
as well as the Annual 10-K, Quarterly 10-Q, and other reports
filed by Group from time-to-time with the Securities and
Exchange Commission (SEC). Group is under no obligation,
and assumes no obligation, to provide public updates of
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Contact: Yvonne Kingman, 310-257-1434
California Water Service (NYSE:CWT)
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