Like their municipal and
privately owned counterparts, investor-owned water utilities deliver
water to homes and businesses through systems of wells, pumps,
reservoirs, treatment plants, and pipelines. Investor-owned water
utilities typically appeal to conservative investors because their rates
are regulated, their earnings drivers are straightforward, their
dividends are steady, and their product is both essential and
irreplaceable. California Water Service Group (NYSE: CWT) is the second
largest investor-owned water utility in the United States, providing
high-quality water utility services to more than 2 million people in 100
communities through five subsidiaries: California Water Service Company
(Cal Water), Hawaii Water Service Company, Inc. (Hawaii Water), New
Mexico Water Service Company (New Mexico Water), Washington Water
Service Company (Washington Water), and CWS Utility Services (Utility
Services). Cal Water, Hawaii Water, New Mexico Water, and Washington
Water provide regulated water utility services, while Utility Services
conducts the Company’s non-regulated business, which includes providing
billing, water quality testing, and water system operations and
management services to cities and other companies. |