Financial News
California American Water Receives Approval to Acquire Mesa del Sol Water System in Corral de Tierra
Cal Am’s expertise will bring safe drinking water to the neighborhood
The California Public Utilities Commission (CPUC) today approved California American Water’s acquisition of the Mesa del Sol water system in the Corral de Tierra area of unincorporated Monterey County. The purchase of the system adds approximately 15 new water connections to the company’s current customer base, which already includes approximately 40,000 connections on the Monterey Peninsula and other parts of the County.
“California American Water’s acquisition will bring clean, safe and reliable water service to the residents of the Mesa del Sol neighborhood,” said Evan Jacobs, Director of Business Development for California American Water. “The physical consolidation of the Mesa del Sol system into California American Water’s neighboring system will solve long running water quality issues for the neighborhood.”
The acquisition of the Mesa del Sol water system is expected to be finalized in early 2025, once construction is complete on a physical interconnection and other system improvements. The Mesa Del Sol Water system is currently identified as a failing water system by the California State Water Resources Control Board’s SAFER program, which works to ensure every Californian has access to safe drinking water.
“Mesa del Sol customers will benefit from California American Water’s experience and expertise and the company’s large customer base will provide much greater economies of scale and future rate stability while keeping water rates lower than they would have been as a small, stand-alone system,” said Jacobs. “Mesa del Sol residents will also benefit from new customer service options and programs offered by the company.”
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water’s 6,500 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
About California American Water
California American Water, a subsidiary of American Water, provides high-quality and reliable water and wastewater services to approximately 700,000 people. For more information, visit www.californiaamwater.com and follow California American Water on LinkedIn, Facebook, X, and Instagram.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241018701798/en/
Contacts
Media Contact
Josh Stratton
External Affairs
Phone: 831-435-6015
Email: josh.stratton@amwater.com
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