California Water Service Receives CPUC Approval to Acquire Palm Mutual Water Company

Core Insights - California Water Service (Cal Water) has received approval from the California Public Utilities Commission (CPUC) for its acquisition of Palm Mutual Water Company, aiming to provide long-term safe and reliable water services to its customers [1][3] Company Overview - Cal Water is the largest subsidiary of California Water Service Group, serving over 2.1 million people through approximately 499,400 service connections across California [4] - The company is committed to enhancing the quality of life for its customers and communities by investing in water and wastewater infrastructure and sustainability initiatives [4] Acquisition Details - Palm Mutual currently serves 63 residential customers and is located two miles from Cal Water's Northeast Bakersfield Treatment Plant [2] - Cal Water plans to upgrade Palm Mutual's infrastructure to ensure consistent and high-quality water services [2] - Upon finalization of the acquisition, Palm Mutual customers will be integrated into Cal Water's Bakersfield District, which currently serves about 445,600 people through around 120,000 service connections [3] Future Expectations - The acquisition is expected to close in the first quarter of 2026, subject to customary closing conditions [3]