California American Water has reached formal settlements with various parties regarding its proposed water supply project, taking a significant step closer to finally bringing a stable water supply to the Monterey Peninsula.
The settlements were filed with the California Public Utilities Commission Wednesday and involved 15 different intervening parties to the proceeding. Agreements were reached on a range of issues from desalination plant size to costs and financing.
“This is a major step forward,” said Rob MacLean, president of California American Water. “I want to commend the various parties for their dedication to the community and willingness to work together to help solve this complex water crisis.”
The settlement agreement recognizes the value of the portfolio approach to the water supply problem (aquifer storage and recovery, groundwater replenishment and a desalination plant) which is awaiting the CPUC’s issuance of the final environmental impact report scheduled for June 2014.
Key issues addressed in the settlements are as follows:
A pre-hearing conference on matters including the status of the settlement motion is set for September 16, 2013. The settlement agreements are pending CPUC approval and will not take effect until the CPUC reviews them and determines they are reasonable within the law and in the public interest.
California American Water, a subsidiary of American Water (NYSE: AWK), provides high quality and reliable water and/or wastewater service to approximately 600,000 people.
Founded in 1886, American Water is the largest publicly traded U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs approximately 6,700 dedicated professionals who provide drinking water, wastewater and other related services to an estimated 14 million people in more than 30 states, as well as parts of Canada. More information can be found by visiting www.californiaamwater.com
California American Water
Catherine Bowie, 831-646-3208
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