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California Water Service Group Invests $471 Million in Infrastructure in 2024 to Make Water Systems Safer, More Resilient

1. CWT invested a record $471 million in 2024 for infrastructure improvements. 2. Investment increased by 23%, enhancing wildfire resilience and water safety. 3. Main Replacement Program completed projects worth $156 million, installing nearly 36 miles of pipe. 4. The investment continues to ensure affordable rates for customers. 5. CWT is the largest regulated water utility in the western U.S.

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FAQ

Why Bullish?

CWT's significant investment indicates strong operational commitment and potential growth. Historically, similar investments led to positive stock performance.

How important is it?

The capital improvements are crucial for CWT's operation and customer trust, likely influencing stock performance positively.

Why Long Term?

Sustained infrastructure improvements can enhance reliability and customer satisfaction, positively affecting CWT's market position over time.

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SAN JOSE, Calif., March 06, 2025 (GLOBE NEWSWIRE) -- To enhance water safety and reliability for its customers and communities, California Water Service Group (Group) (NYSE: CWT) invested a record $471 million in capital improvements throughout its service areas in 2024. Infrastructure improvements completed last year exceeded the previous high investment recorded in 2023 by $87 million. Group subsidiary California Water Service’s annual Main Replacement Program, the largest portion of the company’s infrastructure improvement plans, accounted for $156 million in completed projects. The company installed 189,135 feet of pipe, or nearly 36 miles, in 2024 through this program. Other notable infrastructure projects last year included: 124 storage and pressure tank replacements or retrofits to augment available water supplies and regulate fluctuations in water pressure.110 water treatment facility improvements to continue meeting or surpassing all primary and secondary water quality standards.27 Supervisory Control and Data Acquisition (SCADA) system upgrades to improve monitoring and efficient operation of facilities throughout the company’s service areas.26 generator and motor control center installations or replacements to help keep systems operating properly during both routine operations and power outages or shutoffs. “Increasing last year’s capital investments by 23% over 2023 helps with wildfire hardening and improving resiliency and sustainability, reflecting our team’s rigorous focus on providing quality, service, and value to our customers,” said Marty Kropelnicki, Group Chairman and CEO. “Consistently, proactively, and strategically upgrading water and wastewater system infrastructure not only helps us deliver safe, clean, and reliable drinking water for our customers’ everyday and emergency needs, but it also helps keep service affordable by avoiding more costly issues in the future. This commitment to affordability has enabled customers to still pay about a penny per gallon in each of our service areas.” About California Water Service GroupCalifornia Water Service Group is the largest regulated water utility in the western United States. It provides high-quality, reliable water and/or wastewater services to more than 2.1 million people in California, Hawaii, New Mexico, Washington, and Texas through its regulated subsidiaries, California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, and its utility holding company, Texas Water Service.  Group’s purpose is to enhance the quality of life for customers, communities, employees, and stockholders. To do so, it invests responsibly in water and wastewater infrastructure, sustainability initiatives, and community well-being. The company’s 1,200+ employees live by a set of strong core values and share a commitment to protecting the planet, caring for people, and operating with the utmost integrity. The company has been named one of “America’s Most Responsible Companies” and the “World’s Most Trustworthy Companies” by Newsweek, a Top Workplace, and a Great Place to Work®.  More information is available at www.calwatergroup.com. Media ContactYvonne Kingmanykingman@calwater.com310-257-1434

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