California Water Service Group reports developments for a regulated water and wastewater utility holding company serving California, Hawaii, New Mexico, Washington, and Texas. Its subsidiaries include California Water Service, Hawaii Water Service, New Mexico Water Service, Washington Water Service, and Texas Water Service, a utility holding company.
Recurring news centers on California Public Utilities Commission rate-case decisions, infrastructure improvement plans, water system investment, quarterly earnings, dividend declarations, and updates tied to safe, reliable service. Company releases also address regulatory mechanisms, operating results, sustainability initiatives, and corporate governance or recognition items.
Washington Water Service, a subsidiary of California Water Service Group, has received approval from the Washington Utilities and Transportation Commission to acquire Stroh’s Water Company. The acquisition, subject to customary conditions, is expected to close by Q1 2023. Washington Water has served Stroh’s 900 customers since March 2021 and aims to integrate the systems for enhanced reliability. Group President Martin A. Kropelnicki expressed gratitude for the regulatory process and anticipation of welcoming Stroh’s customers into the Washington Water family.
California Water Service Group (NYSE: CWT) is set to release its third quarter 2022 earnings on October 27, 2022, at 9:00 a.m. ET, followed by a conference call at 11:00 a.m. ET.
Interested investors can join by dialing 1-800-715-9871 or 1-646-307-1963, using ID# 5254006, or by accessing the live audio webcast. A replay will be available from 3:00 p.m. ET on the same day until December 26, 2022.
California Water Service Group provides regulated water and wastewater services to over 2 million people across five states.
California Water Service Group (NYSE: CWT) has appointed Terry P. Bayer as Lead Independent Director, effective immediately. Bayer, with extensive expertise from her tenure as COO of Molina Healthcare, brings valuable operational and governance experience. Chairman Peter C. Nelson will retire in May 2023, following a long-standing leadership role since 1996. Martin A. Kropelnicki will succeed him as Chairman, President & CEO. The company emphasizes its commitment to effective leadership as it transitions to new governance, aiming to enhance its operations serving over 2 million customers across multiple states.
California Water Service commended Governor Newsom for signing SB 1469, which aims to enhance water conservation efforts and sustain low water bills for Californians, particularly low-income households. The bill, backed by a diverse coalition, enables water providers regulated by the CPUC to implement a decoupling regulatory model. This model allows them to prioritize conservation without risking resources needed for safe operations, responding effectively to prolonged drought conditions spurred by climate change.
California Water Service (CWT) customers have achieved significant water conservation, reducing usage by 12.3% in August compared to 2020, marking the fourth consecutive month of reductions. Notably, twelve districts surpassed 15% savings, with Antelope Valley leading at 46.1%. The utility supports this effort with free lawn signs and rebates for water-saving programs. In July, Cal Water also exceeded state savings targets with a 12.4% reduction. The utility serves approximately 2 million people in California and has been operational since 1926.
California Water Service Group (NYSE: CWT) appointed retired Los Angeles County Fire Chief Daryl L. Osby as Vice President of Emergency Preparedness, Safety, and Security, effective September 28, 2022. Osby, who oversaw fire services for over four million residents, brings extensive experience in strategic planning and emergency response. His leadership is expected to enhance the company's commitment to public safety. Martin A. Kropelnicki, the CEO, expressed confidence in Osby's ability to support the company's emergency preparedness efforts.
California Water Service (CWT) reported a 12.4% reduction in water use for July 2022 compared to July 2020, marking the third consecutive month of conservation progress. All districts contributed, with ten districts achieving savings over 15%. Notable reductions included 39.7% in Westlake and 33.2% in Antelope Valley. The company emphasized ongoing customer engagement in water-efficient practices as drought conditions persist. Cal Water continues to provide resources and incentives to enhance conservation efforts and support its customer base.
California Water Service (CWT) applauds the passage of SB 1469, aimed at enhancing water conservation efforts. The bill, supported by a diverse coalition, now awaits Governor Newsom's signature. It introduces a decoupling regulatory tool, enabling water providers to focus on conservation without worrying about financial loss from reduced water sales. This strategic move aligns with California's urgent need to address water resource challenges amidst changing climate conditions. With approximately 2 million customers served, Cal Water emphasizes its commitment to improving water supply reliability.
California Water Service (CWT) announced a company-wide water use reduction of 11.6% in June 2022 compared to June 2020, exceeding the statewide average reduction of 7.6%. The utility praised its customers for achieving water savings 52% higher than the average, with seven districts recognized among the state’s top performers. Districts such as Westlake showed impressive savings of 33.4%. Cal Water encourages ongoing conservation efforts through available rebates and programs as summer presents opportunities for further savings.
California Water Service Group subsidiary, Texas Water Service, has expanded its investment in Texas by entering a long-term water supply agreement with the Guadalupe Blanco River Authority. The agreement allows Camino Real Utility to receive up to 2,419 acre-feet of potable water annually, serving the fast-growing Mustang Ridge area. Texas Water Service will invest over $40 million in the first phase of the project, enhancing water and wastewater infrastructure to support community growth.