California Water Service Group Subsidiary Begins Providing Regulated Water Service to Travis Air Force Base
July 01 2019 - 8:45PM
(NYSE: CWT) — California Water Service (Cal Water), the largest
subsidiary of California Water Service Group, took ownership of and
began operating the Travis Air Force Base (TAFB) water system
today. Cal Water and TAFB officials commemorated the acquisition
with a ribbon-cutting and open house at the base.
As part of the contract with the U.S. Department of Defense and
decision by the California Public Utilities Commission (CPUC), Cal
Water will provide CPUC-regulated water service to the base for a
term of 50 years. The utility will operate, maintain, and upgrade
the water system infrastructure that serves TAFB’s more than 15,000
active and reserve personnel and civilians. Cal Water plans to make
initial capital improvements of about $12.7 million on the
6,400-acre base within the first five years, and make an expected
total capital investment of about $52 million over the 50-year
term.
“At Cal Water, we like to say that we worry about the water so
our customers don’t have to; we are honored to be serving Travis
Air Force Base service members and their families, so they can
focus on serving our country,” said Martin A. Kropelnicki, Cal
Water President and Chief Executive Officer. “We look forward to
providing TAFB with the quality, service, and value our customers
expect and deserve.”
About California Water Service GroupCalifornia
Water Service Group is the parent company of California
Water Service, Washington Water Service, New Mexico Water Service,
Hawaii Water Service, CWS Utility Services, and HWS Utility
Services. Together, these companies employ 1,184 people who provide
regulated and non-regulated water service to nearly 2 million
people in California, Washington, New Mexico, and
Hawaii. California Water Service Group’s common stock trades
on the New York Stock Exchange under the symbol “CWT.”
Additional information is available online
at www.calwatergroup.com.
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 are based on currently available
information, expectations, estimates, assumptions and projections,
and management's judgment about the Company, the water utility
industry and general economic conditions. Such words as
would, expects, intends, plans, believes, estimates, assumes,
anticipates, projects, predicts, forecasts 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 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 a result different than
expected or anticipated include, but are not limited to:
governmental and regulatory commissions' decisions; 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; inability to renew leases to operate city water systems on
beneficial terms; changes in California State Water Resources
Control Board water quality requirements; changes in environmental
compliance and water quality requirements; electric power
interruptions; housing and customer growth index; 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, or apprehension
about the possible future occurrences of acts of this type; the
adequacy of our efforts to mitigate physical and cyber security
risks and threats; labor relations matters as we negotiate with the
unions; restrictive covenants in or changes to the credit ratings
on current or future debt that could increase financing costs or
affect the ability to borrow, make payments on debt or pay
dividends; general economic conditions, including 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 from time-to-time with the Securities
and Exchange Commission (SEC). The Company assumes no
obligation to provide public updates of forward-looking
statements.
Media ContactYvonne
Kingmanykingman@calwater.com310-257-1434
California Water Service (NYSE:CWT)
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