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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.
California Water Service Group (NYSE: CWT) will release its third quarter 2020 earnings results on November 6, 2020, at 9:00 a.m. ET. The teleconference will follow at 11:00 a.m. ET, where stakeholders can dial in using 1-833-832-5130 or 1-509-844-0151, ID# 3858077. A replay of the call will be available until February 5, 2021. The company, serving nearly 2 million customers, operates under several brands across multiple states, emphasizing its essential role in providing water services.
California Water Service (CWT) received a proposed decision from the CPUC in its 2018 General Rate Case. If adopted on Nov. 19, 2020, it would validate a 2019 settlement and authorize CWT to invest $828 million for infrastructure upgrades. The proposal suggests a revenue increase of approximately $6.6 million in 2020, escalating to $20.9 million by 2022. The decision also allows CWT to retain certain balancing accounts. Management expresses gratitude for the ruling, emphasizing their commitment to delivering reliable water services while controlling costs.
California Water Service (CWT) has successfully completed the Palos Verdes Peninsula Water Reliability Project, marking the largest water infrastructure upgrade in its history. This extensive project involved over 15 years of planning and 7 miles of new pipeline installation, enhancing the reliability of water service for residents and firefighters. The upgrade includes a second pump station aimed at preventing service outages during natural disasters. Serving approximately 2 million people, CWT emphasizes the vital role of this project amid challenges like climate change and wildfires.
New Mexico Water Service, a subsidiary of California Water Service Group (CWT), has signed a purchase agreement to acquire the Morning Star Water System assets from Animas Valley Land and Water Co. This acquisition will provide regulated water service to approximately 2,000 customers in northwest New Mexico. The deal is pending court and regulatory approval and is expected to close in early 2021. Group's CEO, Martin A. Kropelnicki, expressed commitment to delivering high-quality water service to all customers.
California Water Service (CWT) has launched the Smart Landscape Tune-Up Program to assist customers in managing water usage and bills, especially amid the financial challenges posed by the coronavirus pandemic. This free program offers personalized evaluations to identify irrigation leaks and water-saving opportunities. Additionally, no-cost repair services for leaks and faulty equipment, such as valve replacements and sprinkler upgrades, are included. CWT is committed to providing quality service while helping residents save water and reduce expenses.
California Water Service has announced the winners of its second annual Firefighter Grant Program, awarding a total of $148,500 to fire departments within its service areas. Originally projected at $60,000, the grant funds support essential equipment for firefighters. Recipients include departments from Visalia, Stockton, Northshore, Russian River, King City, Bakersfield, and Selma, each receiving grants for crucial firefighting tools. Cal Water aims to enhance community safety through this initiative, reaffirming its commitment to providing a reliable water supply for emergency responders.
California Water Service Group (CWT) has been certified as a Great Place to Work for the fifth consecutive year by the Great Place to Work® Institute. This certification is based on a Culture Audit and a Trust Index survey, evaluating employee experiences and organizational practices. The company values employee satisfaction, believing that a happy workforce leads to better customer service. During the pandemic, employees maintained essential water services, demonstrating commitment. This certification supports potential recognition for the Fortune 100 Best Companies to Work For list.
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California Water Service (Cal Water) is actively addressing power outages affecting water delivery due to rolling blackouts across the state. The utility has installed permanent generators at critical locations and is deploying portable backup generators to maintain water service. Customers are urged to conserve water to alleviate strain on the electrical grid. The Emergency Operations Center is activated to manage responses, ensuring minimal disruption to service. Serving around 2 million people, Cal Water emphasizes collaboration with customers to mitigate impacts on the community.