Cal Water news release

La CPUC aprueba la adquisición de Skylonda Mutual Water Company

NoticiasCal Water recibió esta semana la aprobación de la Comisión de Servicios Públicos de California (California Public Utilities Commission, CPUC) para adquirir los recursos del sistema de agua de Skylonda Mutual Water Company. La compra está sujeta a las condiciones habituales del cierre, que está pendiente pero previsto para fines de este año.

Cal Water plans to provide water utility service to Skylonda's 176 customer connections through its Bear Gulch District, which is adjacent to the Skylonda system. The Bear Gulch District currently serves about 60,900 people through 19,000 service connections in Portola Valley, Woodside, Atherton, and portions of Menlo Park, Redwood City, and San Mateo County.

After the acquisition is completed, Cal Water intends to invest in Skylonda's water system infrastructure so that it remains safe and reliable for customers' and firefighters' everyday and emergency needs. Additionally, with Skylonda situated between Cal Water's Skyline system and the main portion of its Bear Gulch District, Cal Water will be able to interconnect the three areas to enhance water supply reliability to the entire district.

“We appreciate the CPUC staff's diligence in reviewing this transaction, and we look forward to both working with Skylonda Mutual Water Company to complete the acquisition and providing quality, service, and value to Skylonda customers, both now and for decades to come,” said Marty Kropelnicki, Cal Water President and CEO.

Este comunicado de prensa incluye declaraciones prospectivas en concordancia con lo establecido por la Ley de Reforma de Litigios sobre Valores Privados de 1995 (la "Ley"). 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 will, 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. Las declaraciones prospectivas no son garantías de acciones futuras. Las mismas están sujetas a los cambios e incertidumbre de las circunstancias. Los resultados reales pueden variar materialmente del contenido de las declaraciones prospectivas. Factors that may cause a result different than expected or anticipated include, but are not limited to: ability to close the acquisition of Skylonda Mutual Water Company, integrate the business, and operate the Skylonda system in an effective and accretive manner; natural disasters, public health crises, pandemics, epidemics or outbreaks of a contagious disease, such as the outbreak of coronavirus (or COVID‐19), governmental and regulatory commissions' decisions, including decisions on our GRC and on proper disposition of property; 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; changes in water quality standards; changes in environmental compliance and water quality requirements; electric power interruptions; housing and customer growth trends; 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; the adequacy of our efforts to mitigate physical and cyber security risks and threats; the ability of our enterprise risk management processes to identify or address risks adequately; labor relations matters as we negotiate with unions; 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. Al considerar las declaraciones prospectivas, usted debe tener en cuenta las declaraciones preventivas que se incluyen en este párrafo, al igual que el informe anual 10-K, el informe trimestral 10-Q y otros informes presentados ocasionalmente ante la Comisión de Valores y Bolsa (SEC, siglas en inglés). La Compañía no asume ninguna obligación de proporcionar actualizaciones de las declaraciones prospectivas por medios públicos.