California Wtr Svc Group Stock Price, News & Analysis

Hawaii Water Service, a subsidiary of California Water Service Group (CWT), has signed an agreement to acquire Kukui’ula South Shore Community Services (KSSCS) in Kauai, Hawaii. This acquisition is subject to approval by the Hawaii Public Utilities Commission. KSSCS currently serves around 440 customers but can expand to 1,500 connections as the Kukui’ula Resort develops over the next 20 years. Hawaii Water aims to enhance service quality and community support, anticipating a seamless integration of KSSCS operations.

California Water Service Group (NYSE: CWT) has successfully acquired Animas Valley Land and Water, integrating its Morningstar Water System to enhance services for approximately 2,000 customers in northwestern New Mexico. A community welcome event is scheduled for May 5, 2022, allowing customers to familiarize themselves with the new utility services. Group President and CEO, Martin A. Kropelnicki, expressed eagerness to begin providing quality services and acknowledged the regulatory approvals from the New Mexico Public Regulation Commission.

The California Water Service Group (NYSE: CWT) has released its 2021 Environmental, Social, and Governance (ESG) Report, titled “Enhancing the Quality of Life: Today & Tomorrow.” The report outlines key achievements, including the adoption of four ESG-related policies, development of a climate change strategy, and the construction of a hydro-turbine system in Hawaii to generate sustainable electricity. Additionally, the company launched a wastewater treatment plant in California and proposed new rate designs aimed at supporting infrastructure investments. The report emphasizes the company's commitment to delivering quality and value to stakeholders.

Washington Water Service, a subsidiary of California Water Service Group, has signed an agreement to acquire the utility assets of Stroh’s Water Company. This acquisition will enhance service reliability for approximately 900 customer connections in the Gig Harbor area, where Washington Water has been providing operational support since March 2021. The transaction is subject to customary closing conditions and approval from the Washington Utilities and Transportation Commission. The acquisition aims to integrate Stroh’s system to improve overall water service quality for its customers.

California Water Service Group (NYSE: CWT) will announce its first quarter 2022 earnings on April 28 at 9:00 a.m. ET, followed by a conference call at 11:00 a.m. ET. Shareholders and investors can join the call by dialing 1-833-832-5130 or through a live audio webcast. A replay will be available later that day. The company provides regulated water and wastewater services across multiple states and serves over 2 million customers. Key executives will present during the call, and a slide presentation will be shared on their website.

California Water Service (CWT) announced its study revealing water conservation efforts from 2008 to 2019 significantly reduced customer bills by up to 20%. The utility supports SB 1469, a bill enabling water utility decoupling, which would allow them to promote conservation without financial penalties. The study indicates that decoupling will lead to lower water use and costs for customers. With California facing ongoing drought, the passage of SB 1469 is critical for sustainable water management and customer affordability, helping to reduce energy use linked to water consumption.

California Water Service (CWT) announced compliance with the State Water Resources Control Board's draft maximum contaminant level (MCL) for chromium-6 set at 10 parts per billion (ppb). The utility has treated affected groundwater sources in Dixon, Salinas, and Willows since 2014, ensuring water quality for its customers. Despite the absence of an MCL for several years, CWT continued treatment due to public health concerns. The State Board plans a formal rulemaking process after the public comment period ends on April 29, 2022. CWT also recycles the chromium removed during treatment.

New Mexico Water Service, a subsidiary of California Water Service Group (CWT), has announced an agreement to acquire Monterey Water Company, located in Valencia County, N.M. This transaction, pending regulatory approval, will integrate Monterey Water into New Mexico Water's existing Rio Del Oro water system, enhancing service to approximately 380 residential customers. Additionally, the acquisition includes about 100 undeveloped lots for future service. New Mexico Water aims to maintain high-quality service standards for its customers.