San Dimas, Calif., October 5, 2022 – Today, Golden State Water Company (Golden State Water), one of California’s largest state-regulated investor-owned utilities serving more than one million customers, praised Governor Gavin Newsom for signing Senate Bill (SB) 1469. SB 1469 is critical to promoting water conservation programs as California is facing three consecutive years of severe drought, the driest period in 1,200 years.
“At a time when California is facing three consecutive years of severe drought, Governor Newsom’s approval of SB 1469 could not be more timely. Water providers will now have the tools necessary to achieve the Administration’s critical conservation goals,” said Golden State Water Company President and Chief Executive Officer, Bob Sprowls. “Californians are tremendously grateful to Senators Bradford and Becker for their leadership and steadfast commitment to building support for a measure that will promote investments in clean and reliable water systems. We also want to especially commend our statewide coalition of environmental, labor, business, consumer and community supporters. Their efforts were indispensable to this success.”
SB 1469, authored by Senators Steven Bradford (D-Gardena) and Josh Becker (D-San Mateo), will ensure water providers and state regulators have the tools necessary to support customer conservation and affordable rates. The measure provides the option for water providers to collect the revenues required to safely operate and upgrade water systems. The legislation authorizes the regulatory tool of decoupling, which removes the linkage between water providers’ financial performance and the amount of water they sell, preserving greater incentives to promote water conservation programs, and continuing investments in clean and reliable water systems that conserve precious water.
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About Golden State Water Company
Golden State Water Company (Golden State Water) is a wholly-owned subsidiary of American States Water Company (NYSE:AWR). Golden State Water provides water service to over 1 million customers throughout 10 counties in Northern, Coastal and Southern California.
About American States Water Company
American States Water Company (NYSE:AWR) is also the parent of Bear Valley Electric Service, Inc. and American States Utility Services, Inc. Through its electric utility subsidiary, Bear Valley Electric Service, Inc., the company distributes electricity to approximately 24,700 customer connections in the City of Big Bear Lake and surrounding areas in San Bernardino County, California. Through its contracted services subsidiary, American States Utility Services, Inc., the company provides operations, maintenance and construction management services for water distribution, wastewater collection and treatment facilities located on eleven military bases in eight states under 50-year privatization contracts with the U.S. government.