California American Water to Invest $126 Million in Local Infrastructure in 2015, 2016, and 2017
April 10 2015 - 2:59PM
Business Wire
Overall revenue increase less than two
percent
The California Public Utilities Commission approved new rates
for California American Water customers throughout the state. The
average revenue increase statewide is 1.2 percent in 2015 and
approximately 2 percent each in 2016 and 2017. Customers will
receive notifications of how this decision will impact their bills
in the coming weeks as new rates are implemented. Some customers
will see small rate decreases while other will see modest
increases.
“This decision is the product of open public proceedings that
examined and deliberated every aspect and financial detail of our
original rate request over the course of the last two years,” said
Robert MacLean, President of California American Water.
The CPUC decision includes funding for over $126 million in
infrastructure replacement and improvements over the next three
years. Some of the major projects include:
- $4.5 million in the Sacramento District
to enlarge critical piping to allow for more efficient water
transmission
- $4.06 million in Monterey to replace
over 20,000 feet of aging water mains
- $2.19 million to refurbish the Potrero
water storage reservoir in the Ventura District, lengthening the
life of the asset and improving water supply reliability
- $3.89 million to combine domestic and
irrigation systems in Los Angeles
“This decision will allow us to continue making infrastructure
investments to renew and improve the facilities that serve our
customers,” said MacLean. “It also maintains a robust budget for
our conservation programs and services that will help support our
customers’ efforts to reduce water use during this historic
drought.”
The decision increases California American Water’s total annual
revenue statewide from $203,933,000 to $206,415,000 and will have
an average impact of 1.3 percent for residential customers around
the state.
The decision also authorizes $5,950,302 in spending to continue
a variety of conservation programs and rebates over the next three
years. Programs include offering low-flow showerhead and hose
nozzles, sink aerators, leak detection kits and many other types of
water-saving devices to all customers free of charge. The company
also provides rebates for qualified water-efficient appliances like
clothes washers and low-flow toilets as well as water efficient
landscaping.
California American Water offers customers a free home or
business water use survey, where, upon request, the company will
dispatch a conservation specialist to the customer’s home to look
for leaks and recommend other areas of water savings. These surveys
can help people reduce their water use and water bill.
For low-income customers, the company proudly offers Low Income
Ratepayer Assistance, a program designed to assist those
experiencing financial difficulties in paying their water bill.
Customers can find out more by calling (888) 237-1333 or visiting
our website at www.californiaamwater.com.
In the coming weeks California American Water will begin
implementing the new rates. Customers will receive district
specific communications about changes to their rates. As part of
the implementation processes other outstanding costs for changes to
water production costs, purchased water and energy costs and
deferred revenue will be included. Customers should also expect to
see rate adjustments in 2016 and 2017.
California American Water, a subsidiary of American Water (NYSE:
AWK), provides high-quality and reliable water and/or wastewater
services to more than 600,000 people.
Founded in 1886, American Water (NYSE: AWK) is the largest and
most geographically diverse publicly traded U.S. water and
wastewater utility company. With headquarters in Voorhees, N.J.,
the company employs approximately 6,400 dedicated professionals who
provide drinking water, wastewater and other related services to an
estimated 15 million people in more than 45 states and parts of
Canada. More information can be found at www.amwater.com.
California American WaterEvan JacobsOffice: 916-568-4252Mobile:
707-495-6135Evan.Jacobs@amwater.com
American Water Works (NYSE:AWK)
Historical Stock Chart
From Mar 2024 to Apr 2024
American Water Works (NYSE:AWK)
Historical Stock Chart
From Apr 2023 to Apr 2024