California Water Service Group 2024 SUMMARY ANNUAL REPORT
California Water Service Group
2024 SUMMARY ANNUAL REPORT
Vision
Action
About California Water Service Group
California Water Service Group (NYSE: CWT) is the
third-largest publicly traded water utility in the United States,
providing high-quality water and wastewater services to more
than two million people through four regulated subsidiaries:
California Water Service (Cal Water), Hawaii Water Service
(Hawaii Water), New Mexico Water Service (New Mexico
Water), and Washington Water Service (Washington Water).
A fifth subsidiary, Texas Water Service, invests in water and
wastewater infrastructure in Texas.
We are committed to improving the quality of life for our
customers, communities, employees, and stockholders. We do
this by living our core values and delivering on our promise to
provide quality, service, and value.
Vision without action lacks impact.
Action without vision lacks meaning.
But when vision leads to action, the result is both impactful and meaningful. At California Water
Service Group, we contribute to the greater good by acting on our vision and executing a
forward-looking strategy that enhances the quality of life for our customers, communities,
employees, and stockholders.
Vision Stewardship
As a provider of a life-sustaining, finite natural resource, we are serious about environmental
stewardship. Long before climate change and ESG took center stage, we recognized the importance of
conserving and protecting our water supplies. Today, our approach to sustainability is multifaceted
and includes water-use efficiency, water supply planning and resilience, and responsible, efficient
operations.
Above: Employees oversee an innovative water reuse partnership with the Horse Park at
Woodside, which shares our dedication to environmental stewardship.
Saving Our Precious Water
Occasionally, we need to flush water from our pipes to enhance water quality. In Woodside,
California, our team found a way to partner with one of our customers to put the flushed
water to good use. And it happens to be a customer who shares our dedication to responsible
environmental stewardship. The Horse Park at Woodside, which provides services to
underserved youth and supports equine therapy for those with disabilities, also eradicates
invasive plant species, maintains bluebird boxes, and keeps raptor perches throughout its
property. Here, the flushed water is used to make the arenas safe for the horses.
This water reuse partnership with The Horse Park is part of a much larger water conservation
effort, as we offer everything from turf replacement to efficient appliance rebates to
larger scale programs for fire departments, cities, and commercial and industrial customers.
In 2024, we invested approximately $2 million in conservation programs that are anticipated
to save 52 million gallons of water per year.
“We continue to identify
recycled water opportunities, which should expand now that the new California standard for
converting wastewater to drinking water became effective October 1, 2024.We're currently
developing a Water Reuse Strategic Plan that will guide us as we work to increase our recycled
water supplies.”
Ken Jenkins, Vice President,
Water Resource Planning & Sustainability
Pursuing Recycled Water Opportunities
We currently deliver more than 2 billion gallons of recycled water per year, roughly 2.5% of our
total water supply, for landscaping, irrigation, and industrial uses. We believe recycled water
will be an increasingly important source of supply in the future; in fact, we aim to increase
deliveries to at least 5% of our total supply by 2035. To that end, we have reached an agreement
with Caltrans to bring recycled water to our Mid-Peninsula service area in northern California,
and we are participating in the PureWater Peninsula project, which is exploring indirect and
direct potable reuse options in the San Francisco Bay Area.
Operating Efficiently and Responsibly
In 2024, we made significant progress on our efforts to lessen our impact on the
environment. We established new vehicle standards to add more electric and hybrid vehicles
to our fleet
and identified four sites for the first phase of construction of
electric vehicle charging infrastructure.
On the energy efficiency front, we upgraded the heating, ventilation, and air conditioning
(HVAC) system on our headquarters
campus, a project that is expected to reduce energy usage by
170,400 kilowatt hours per year. We also invested more than
$2 million to replace pumps and motors with new equipment
that will optimize energy consumption and increase reliability
Finally, Cal Water requested proposals for the design and
construction of two onsite solar projects, one located at our
headquarters and another at our Northeast Treatment Plant in
Bakersfield. These projects, with an expected combined capacity
of two megawatts of direct current, will help reduce our use of
fossil-fuel generated electricity, improve our climate resilience,
and generate customer savings.
Above: Christy Colby, Director of Water-Use Efficiency, keeps her eye on the industry-leading
conservation programs that benefit the environment and help customers reduce their bills.
Vision Service
Service is the heart of our company. A lot of businesses make
that claim, but how many actually have the word "service" in their
name? For us, it takes many forms, whether we're contributing
time and resources to non-profit organizations that share our
commitment to enhancing the quality of life in our communities;
finding ways to keep rates affordable and help people in need;
or providing the friendly, professional phone and field services
that customers have come to expect.
Above: Employees work together at Monarch Meadows,
a new installation at Happy Hollow Park & Zoo
that showcases drought-tolerant landscaping, attracts
pollinators, and supports biodiversity
$1.13M was contributed by our stockholders to charitable organizations in our service areas
in 2024.
Helping Organizations That Make Our Communities Better
To kick off our 2024 Season of Service, employees volunteered
at Happy Hollow Park and Zoo, planting drought-tolerant
landscaping in a new installation we sponsor called Monarch
Meadows. In addition to showcasing the beauty of waterefficient plants to visitors from
our Bay Area service areas, the
Meadows supports biodiversity and attracts pollinators.
This was just one of the ways our employees contributed time
to worthwhile community endeavors. In 2024, more than
600 employees throughout the company volunteered at a variety
of charitable organizations, packing food baskets, cleaning
up parks, serving meals, organizing coat and sock drives, and
supporting local youth.
Keeping Water Service Affordable
We deliver the safe, reliable supply of water our customers
need to survive and thrive. That's why we work hard to keep our
service affordable, even as the costs for materials, electricity,
labor, and water quality treatment continue to rise. One of our
strategies for maintaining affordability is zealously promoting
water-use efficiency; a 2024 study released by the Alliance for
Water Efficiency found that Cal Water's conservation programs
have reduced customer bills by as much as 20.5% over the last
15 years compared to what they would have been without them.
Beyond conservation programs, we pursue rate structures that
establish very low costs for the first units of water used and
Rate Support Funds that provide discounts for customers in
higher-cost service areas. We also offer a Customer Assistance
Program for lower-income families and a stockholder-funded
Hardship Grant Program.
24% of our customers receive assistance from our Rate Support Funds and Customer Assistance
Program.
Providing Excellent Customer Service
The reality is that customer satisfaction is affected by rate
increases. In the summer of 2024, when California customers were
impacted by large increases resulting from the delay in finalizing
our 2021 rate case, customer satisfaction levels temporarily
dropped. We continued to provide excellent customer service,
working steadfastly to meet key performance metrics related
to customer calls, appointments, and billing. We also introduced
a new payment option with Walmart Bill Pay, which offers
customers the convenience of paying their bills with cash or debit
cards at Walmart and having their accounts credited in near real
time. Eventually, customer satisfaction levels recovered, and
we ended the month of December with an average customer
satisfaction level of 90.7%.
"Every time I call the water company, I like to speak
with customer service. They're always really, really,
really kind, professional, and helpful."
East Los Angeles Customer
Above: Customer Service Partner Nisa Carter
is committed to looking for ways she can
support customer service professionals
throughout the company.
Vision Reliability
Our customers expect safe, clean water every time they turn
on the tap. And we're here for them, morning, noon, and night.
We recognize that whether they are using it to hydrate, cook, clean,
or create, water is integral to daily life. One way to enhance
service reliability is to invest diligently in infrastructure upgrades,
maintenance, and backup power. But no amount of investment
can guarantee that issues won't arise, and when that happens,
our dedicated team responds with urgency and purpose.
Above: Employees respond to an
after-hours leak in Selma, California.
"As we've been going through this whole
landslide episode, Cal Water has been out there
basically 24/7 keeping the water on, which we
greatly appreciate as a city."
Mayor John Cruikshank, Rancho Palos Verdes
Responding to Customer Emergencies 24/7
Day or night, we are ready to serve; our on-call water professionals
answer after-hours calls and customers can rely on our crews to
respond promptly to emergencies. On the Palos Verdes Peninsula,
we've taken our 24/7 commitment to another level. After recordsetting rains over two
winters caused ground movement to
accelerate in historic landslide areas, we stationed employees on
site around the clock to allow us to respond more quickly to
leaks caused by the land movement. As federal, state, and local
governments continue to seek solutions to the land movement,
we have remained responsive and engaged, both during business
hours and after.
Prioritizing Backup Power Generation and Wildfire Hardening
One of the things that can impact our ability to move water from
the source to the customer's tap is an interruption in our power
supply. We're strategic about where we install backup power
generation to improve the likelihood that we can keep water
flowing if our electricity service is interrupted, whether due to
a natural disaster or a public safety power shutoff by our energy
provider. In 2024, we installed an additional 26 panel boards
and generators.
Cal Water was also part of a consortium that applied for and
was awarded a grant from the Grid Resilience and Innovation
Partnerships (GRIP) program under the U.S. Department of
Energy (DOE). If we receive the funds, we plan to install battery
energy storage systems that we believe will help reduce our
reliance on fossil fuels while helping to provide uninterrupted
service to our customers during events exacerbated by climate
change, such as extreme heat and wildfires.
Investing in Our Water Systems
In 2024, we invested a record $471 million in water system
infrastructure needed to provide safe, reliable service to
customers. Although these upgrades are reflected in customers'
rates, they contribute to affordability by preventing future
problems that would likely be costlier to address down the line.
2024 projects included:
- 110 water quality treatment-related projects
- 124 storage tanks and tank-related projects
- Four well renewal projects
- 27 projects related to the computer system that enables us to monitor and operate water system components remotely
- 189,135 feet of new water main
Operations Manager Agustin (Augie) Baeza, once
recognized by the City of Carson for "Meritorious
Service" for coming to the aid of a resident in
distress, is keenly focused on responding to the
needs of our Palos Verdes Peninsula customers.
Vision Safety
Protecting the health and safety of our customers and our
employees is paramount. We think about safety when we test
and treat our water. We think about it when securing our
storage tanks and other key facilities. We think about it when
reconfiguring our water systems to better support firefighting
and prepare for earthquakes and other emergencies. And we
think about it when delivering safety and emergency response
training to our employees. For us, it's safety first, last, and always.
Above: Employees construct a treatment plant
designed to enable us to meet new water quality
standards for certain per- and polyfluoroalkyl
substances (PFAS).
Preparing to Meet New Standards
April of 2024 saw the United States Environmental Protection
Agency's (EPA's) adoption of a new National Primary Drinking
Water Regulation for certain PFAS, which requires water utilities to
monitor for these substances by 2027 and comply with new limits
by 2029. Throughout the year we continued our proactive efforts,
completing PFAS monitoring at all active water sources, treating
sources for PFAS at 25 sites, and preparing to install another
63 treatment systems in California, 35 in Washington, and two in
New Mexico. We anticipate investing approximately $226 million
over the next three years to comply with the new regulation, and
we continue to aggressively pursue cost recovery from polluters to
minimize the impact on our customers' rates.
"Our mission is to keep our water safe, and we
take compliance seriously. But we do it with an
eye toward affordability. That's why we seek cost
recovery from polluters and look for the best,
lowest cost treatment and maintenance options."
Michael Luu, Senior Vice President,
Corporate Services & Chief Risk Officer
In 2024, we conducted approximately
615,000 tests on more than 86,000 samples
collected throughout our water systems.
Delivering High-Quality Water
In 2024, our water met or surpassed all state and federal
standards set to protect public health and safety. That's an
impressive achievement, when you think about the herculean effort
it takes to deliver 94 billion gallons of water that meets more
than 250 water quality standards. Our dedicated team executed
a rigorous quality assurance program while taking on other
important initiatives, including inventorying our service
lines to comply with the EPA Lead and Copper Rule Revisions;
earning certification of our water quality laboratory under
new national regulations; and monitoring and providing
data to the EPA to support future standard-setting efforts.
Operating Safely
One of the most important aspects of operating safely is taking
steps to prevent accidents and prepare for emergencies. First,
prevention. We invested more than $3.8 million in physical
security enhancements at key facilities in 2024, and that investment is paying off. In one
case, our security system visually
detected the illegal use of fireworks near a water storage tank
and requested fire department response before a small wildfire
could spread. Second, preparation. We know that natural
disasters and other emergencies will occur, so we do our best to
prepare for them. Emergency response drills and training are
key to preparedness, and in 2024 we conducted sessions for our
employees and first responders in our communities, including
those in Hawaii, which suffered a horrific wildfire near our
service area in 2023. And throughout the year, we provide
safety-related training to our people, one of our most important
assets, to help equip them to take care of themselves and our
customers when disasters happen.
Above: As Director of Subsidiary Operations and
Chief of Emergency Operations, Henry Wind sees
the importance of prevention and preparedness.
Business
at a Glance
- Our mission: to be the leading provider of sustainable water and wastewater services.
- Our purpose: to enhance the quality of life for our customers, communities, employees, and stockholders.
- Our operating imperatives: affordable and excellent service, sustainability and community impact, public health and safety, enhanced stockholder value, and employees who are our best advocates.
Who We Are
2M+
Population
served
1926
Company
founded
500+
Communities
served
1,300
Employees
$1B+
Annual
operating revenue
What We Do
94B+
Gallons of
high-quality drinking water delivered annually
862M+
Gallons of
wastewater processed responsibly each year
What Matters to Us
$471M
Invested in
infrastructure for safe, reliable service
24%
Of our customers
get bill discounts
$1.13M
Contributed to
charitable organizations
250
Water quality
standards met or surpassed to protect public health
58 years
Annual dividend
has increased
Our Service
Areas
California
CUSTOMER CONNECTIONS
-
Year 2023: Four hundred ninety-seven thousand seven hundred*
-
Year 2024: Four hundred ninety-nine thousand four hundred*
DISTRICTS
- Bakersfield
- Bay Area Region (serving South San Francisco, Colma, Broadmoor, San Mateo, San Carlos, Lucerne, Duncans Mills, Guerneville, Dillon Beach, Noel Heights, and portions of Santa Rosa)
- Bear Gulch (serving portions of Menlo Park, Atherton, Woodside, and Portola Valley)
- Dixon
- East Los Angeles
- Kern River Valley
- Livermore
- Los Altos (including portions of Cupertino, Los Altos Hills, Mountain View, and Sunnyvale)
- Los Angeles County Region (serving Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, Fremont Valley, Lake Hughes, Leona Valley, and Lancaster)
- Marysville
- North Valley Region (serving Chico, Hamilton City, and Oroville)
- Salinas Valley Region (including Salinas and King City)
- Selma
- South Bay Region (serving Hermosa Beach, Redondo Beach, Carson, and portions of Compton, Harbor City, Long Beach, Los Angeles, and Torrance)
- Stockton
- Visalia
- Westlake
- Willows
*Includes Hawthorne & Commerce Operations and Maintenance
agreement and
Travis Airforce Base Utility Privatization contract service connections
"Infrastructure investment is key to delivering, safe reliable water
service to our customers and the primary growth driver of
the Company; however, we do pursue mergers and acquisitions
opportunistically in high growth regions, such as Texas."
Marty Kropelnicki, Chairman & CEO
Hawaii
CUSTOMER CONNECTIONS
2023
6,500
2024
6,700
Serving the communities of
Ka'anapali, Kapalua, Pukalani,
Waikoloa, North Kona Coast,
Keauhou, Kalaeloa, and Poipu
on the islands of Maui, Hawaii,
Oahu, and Kauai
New Mexico
CUSTOMER CONNECTIONS
2023
11,400
2024
11,500
Serving the communities of
Meadow Lake, Cypress
Gardens, Rio Communities,
Rio Del Oro, Elephant Butte,
Sandia Knolls, Indian Hills,
Woodland Hills, Squaw Valley,
Cedar Crest, Crouch Mesa/
Morningstar, and Monterey
Park in the counties of Sierra,
Valencia, Torrance, Bernalillo,
and San Juan
Washington
CUSTOMER CONNECTIONS
2023
38,000
2024
38,300
Serving more than 425
neighborhoods and small
communities in the counties of
Clallam, Jefferson, Kitsap,
Mason, Pierce, King, San Juan,
and Thurston
Texas*
CUSTOMER CONNECTIONS
2023
2,800
2024
4,200
Serving communities near
Castroville, New Braunfels,
Uhland, Kyle, Buda, Mustang
Ridge, Creedmoor, and
Niederwald in the counties of
Medina, Guadalupe, Hays,
Caldwell, and Travis
*Our Texas subsidiary invests in water and wastewater infrastructure
through a joint
venture with BVRT Holding Company. BVRT currently operates seven wastewater
utilities.
Chairman's Letter
In the aftermath of one of the most destructive
wildfires in California history, we have a responsibility to evaluate our own wildfire hardening
program, infrastructure investment plans, and
emergency response capabilities.
At the outset, I must emphasize that no urban water system in the world is designed to fight a conflagration of the magnitude seen in Southern California in early 2025. But what can we learn from the tragedy? What have we learned ourselves over the last 10 years, dealing with the Erskine, Camp, Woolsey, and Mendocino Complex Fires, among others?
First, preparation is key. Clearing brush. Optimizing available supplies. Reconfiguring pipes for higher flows where appropriate. Staging crews and backup power. Although none of these efforts can guarantee safety in a fire, it is all vital, and just part of our ongoing wildfire preparation program. Over the past five years, we have invested nearly $55 million in pipelines, pumps, and emergency generators specifically intended to better position us in the event of fire.
Second, response must be practiced. Emergencies often cross jurisdictional boundaries, and having the ability to coordinate with partners is essential. That is why we host Community Emergency Response training for first responders,
At the outset, I must emphasize that no urban water system in the world is designed to fight a conflagration of the magnitude seen in Southern California in early 2025. But what can we learn from the tragedy? What have we learned ourselves over the last 10 years, dealing with the Erskine, Camp, Woolsey, and Mendocino Complex Fires, among others?
First, preparation is key. Clearing brush. Optimizing available supplies. Reconfiguring pipes for higher flows where appropriate. Staging crews and backup power. Although none of these efforts can guarantee safety in a fire, it is all vital, and just part of our ongoing wildfire preparation program. Over the past five years, we have invested nearly $55 million in pipelines, pumps, and emergency generators specifically intended to better position us in the event of fire.
Second, response must be practiced. Emergencies often cross jurisdictional boundaries, and having the ability to coordinate with partners is essential. That is why we host Community Emergency Response training for first responders,
community leaders, and other organizations in
our service areas on a regular basis.
Third, water providers and firefighting agencies should maintain open lines of communication during emergencies. If a water provider understands the needs of a firefighting agency at a given location, it may be able to modify water system operations to meet those needs. For obvious reasons, these relationships should be nurtured long before an emergency occurs, and this is something we work on year-round. In 2024, we awarded more than $175,000 to fire agencies in our service areas to help prepare them for future emergencies.
This is in no way intended to second-guess the actions of those involved in the Los Angeles area fires, and our hearts go out to everyone who was affected. Even before the fires were contained, we had contributed more than $100,000 to organizations on the ground, the American Red Cross, the World Central Kitchen, the California Fire Foundation, and, to a slightly lesser degree, Pasadena Humane and the Society for the Prevention of Cruelty to Animals LA.
Rather, it's an acknowledgment that wildfires pose serious risks, and although no urban water system is designed to fight wildfires, there are things we can and are doing to help lessen the risk.
Third, water providers and firefighting agencies should maintain open lines of communication during emergencies. If a water provider understands the needs of a firefighting agency at a given location, it may be able to modify water system operations to meet those needs. For obvious reasons, these relationships should be nurtured long before an emergency occurs, and this is something we work on year-round. In 2024, we awarded more than $175,000 to fire agencies in our service areas to help prepare them for future emergencies.
This is in no way intended to second-guess the actions of those involved in the Los Angeles area fires, and our hearts go out to everyone who was affected. Even before the fires were contained, we had contributed more than $100,000 to organizations on the ground, the American Red Cross, the World Central Kitchen, the California Fire Foundation, and, to a slightly lesser degree, Pasadena Humane and the Society for the Prevention of Cruelty to Animals LA.
Rather, it's an acknowledgment that wildfires pose serious risks, and although no urban water system is designed to fight wildfires, there are things we can and are doing to help lessen the risk.
In addition to our wildfire hardening and
emergency response efforts, in 2024:
We reported net income of $190.8 million and
earnings per common share of $3.25, which
included $64.0 million of net income and $1.09
of earnings per common share that would have
been collected in 2023 if not for the delay in
our California 2021 General Rate Case and
Infrastructure Improvement Plan (GRC/IIP).
We filed our 2024 GRC/IIP and have worked
to keep the proceeding on schedule. Given
recent decisions issued by the California
Public Utilities Commission (CPUC), we are
optimistic that we will receive a decision on
a reasonably timely basis. We also continued
efforts to actively pursue rate relief in our
other states to get more timely recovery of
our capital investments.
We invested $471 million in infrastructure improvements we believe are necessary for water
quality and reliability, including $8 million in
treatment facilities for per- and polyfluoroalkyl
substances (PFAS). Our strong balance sheet,
combined with the CPUC's August 2024 decision authorizing us to issue up to $1.3 billion
of new equity and debt securities, positions us
well to maintain momentum on our infrastructure improvement program through 2027.
And we continued to provide high-quality
water and excellent service to our customers.
On the water quality front, we met or
surpassed every standard set to protect
public health and safety in every one of our
water systems. For customers, we introduced
Promise Pay in Washington and New Mexico
to continue helping customers with past due
balances, and we rolled out Walmart Bill Pay,
a convenient payment option, particularly
for unbanked and underbanked customers.
2024 saw us successfully executing our strategy to mitigate risk and enhance sustainability, invest in the infrastructure needed to provide a safe, reliable water supply, and provide the high-quality water and excellent service our customers have come to expect. In 2025 and beyond, we remain laser-focused on our mission and committed to executing this strategy.
Thank you for believing in our vision and supporting the important work we do every day to contribute to the greater good and enhance the quality of life for those we serve.
Martin A. Kropelnicki,
Chairman, President & Chief Executive Officer
Lead Independent Director's Letter
Having vision isn't the same as having the ability
to predict the future. Rather, having vision means
thinking beyond the day to day, anticipating
risks and changes to the operating environment,
and understanding shifts in customer needs
and expectations.
But it's not enough to simply have vision. To be successful, you must act on that vision. Take steps to mitigate risks. Modify operations. Take advantage of new technologies. Give customers what they want before they even know they want it.
As your Lead Independent Director, I've had the pleasure of seeing firsthand what it looks like when a company acts upon its vision. The Board and I take our oversight responsibility seriously. Having a robust flow of two-way communication with management supports our
But it's not enough to simply have vision. To be successful, you must act on that vision. Take steps to mitigate risks. Modify operations. Take advantage of new technologies. Give customers what they want before they even know they want it.
As your Lead Independent Director, I've had the pleasure of seeing firsthand what it looks like when a company acts upon its vision. The Board and I take our oversight responsibility seriously. Having a robust flow of two-way communication with management supports our
ability to work effectively together to provide
value to our stockholders, customers, employees,
and communities.
I continue to be impressed by the dedication, credentials, and performance of both your management team and your Board of Directors. It's an honor to serve with them as we each bring diverse experience and expertise to bear to contribute to the Company's continued success.
Thank you for your continued confidence and investment in California Water Service Group, and I wish you the best in 2025 and beyond.
Scott Morris,
Lead Independent Director
I continue to be impressed by the dedication, credentials, and performance of both your management team and your Board of Directors. It's an honor to serve with them as we each bring diverse experience and expertise to bear to contribute to the Company's continued success.
Thank you for your continued confidence and investment in California Water Service Group, and I wish you the best in 2025 and beyond.
Scott Morris,
Lead Independent Director
Looking Ahead
We want to thank employees who retired in 2024. As you look to your next chapter, may you see only good health and happiness ahead. A special thank you to those retiring with 25 years of service or more:
Michael Jones
Director, Subsidiary
Operations and
Chief EOC/IC
46 years
Douglas Varney
District Manager
37 years
Anthony Carrasco
Special Projects
Manager
33 years
Scott Bradfield
Certified Pump
Operator
34 years
Estevan Hernandez
Foreman-Construction
& Operation
34 years
Eliot Cervantes
Distribution Service
Technician, Delinquent
Account Technician
33 years
Thomas Brassfield
Operations Manager
31 years
Susana Marin
Water Systems
Material Specialist,
Operations Clerk
28 years
Thomas Smegal
Special Projects Manager
and former CFO
27 years
Mark Valentine
Foreman-Construction
25 years
Joan Angel
Cross-Connection
Control Specialist
25 years
Todd Potter
Certified Chief
Pump Operator
25 years
Sean Cull
Water System
Operation
Maintenance Worker
25 years
Looking Back
We want to take a moment to celebrate the awards and acknowledgments we received in 2024:
Excellence in Promoting WaterSenseLabeled Products award
Excellence in Community Grants
and Scholarships award from NAACP
Butte County Chapter
Newsweek's "America's Greenest
Companies" list
Newsweek's "America's Most
Responsible Companies" list fourth
year in a row
National Association of Water Companies'
Living Water Award for employee
John Kadowaki
Newsweek's the "World's Most
Trustworthy Companies" list for the
second year in a row
Great Place to Work for the ninth
consecutive year
Top Workplace in the Bay Area
for the 12th year
Board of Directors
Gregory E. Aliff
Former Vice Chairman
and Senior Partner of
U.S. Energy & Resources,
Deloitte LLP
Director since 2015. Audit Committee,
Chair; Finance and Capital Investment
Committee; Enterprise Risk Management, Safety and Security Committee.
Shelly M. Esque
Former Vice President
and Global Director of
Corporate Affairs, Intel
Corporation
Director since 2018. Enterprise Risk
Management, Safety and Security
Committee; Nominating/Corporate
Governance Committee.
Jeffrey Kightlinger
Principal and Owner of
Acequia Consulting, LLC,
and Former Chief Executive
Officer, The Metropolitan
Water District of Southern
California
Director since 2023. Audit Committee;
Enterprise Risk, Safety and Security
Committee.
Martin A. Kropelnicki
Chairman, President, and Chief
Executive Officer of California
Water Service Group
Director since 2013.
Thomas M. Krummel, M.D.
Emile Holman and Chair
Emeritus, Department of
Surgery, Stanford University
School of Medicine
Director since 2010. Organization
and Compensation Committee, Chair;
Nominating/Corporate Governance
Committee.
Yvonne A. Maldonado, M.D.
Senior Associate Dean, Faculty
Development and Diversity,
Professor of Global Health and
Infectious Diseases, Departments
of Pediatrics and Epidemiology
and Population Health,
Stanford University
Director since 2021. Enterprise Risk
Management, Safety and Security
Committee; Nominating/Corporate
Governance Committee.
Gregory E. Aliff
Former Vice Chairman
and Senior Partner of
U.S. Energy & Resources,
Deloitte LLP
Director since 2015. Audit Committee,
Chair; Finance and Capital Investment
Committee; Enterprise Risk Management, Safety and Security Committee.
Shelly M. Esque
Former Vice President
and Global Director of
Corporate Affairs, Intel
Corporation
Director since 2018. Enterprise Risk
Management, Safety and Security
Committee; Nominating/Corporate
Governance Committee.
Jeffrey Kightlinger
Principal and Owner of
Acequia Consulting, LLC,
and Former Chief Executive
Officer, The Metropolitan
Water District of Southern
California
Director since 2023. Audit Committee;
Enterprise Risk, Safety and Security
Committee.
Martin A. Kropelnicki
Chairman, President, and Chief
Executive Officer of California
Water Service Group
Director since 2013.
Thomas M. Krummel, M.D.
Emile Holman and Chair
Emeritus, Department of
Surgery, Stanford University
School of Medicine
Director since 2010. Organization
and Compensation Committee, Chair;
Nominating/Corporate Governance
Committee.
Yvonne A. Maldonado, M.D.
Senior Associate Dean, Faculty
Development and Diversity,
Professor of Global Health and
Infectious Diseases, Departments
of Pediatrics and Epidemiology
and Population Health,
Stanford University
Director since 2021. Enterprise Risk
Management, Safety and Security
Committee; Nominating/Corporate
Governance Committee.
Scott L. Morris
Chairman, Avista
Corporation
Director since 2019. Lead
Independent Director; Nominating/
Corporate Governance Committee;
Organization and Compensation
Committee.
Charles R. Patton
Former Executive Vice
President, External Affairs,
American Electric Power
Company, Inc.
Director since 2023. Audit
Committee; Finance and Capital
Investment Committee.
Carol M. Pottenger
Principal and Owner of CMP
Global, LLC, and Retired U.S.
Navy Vice Admiral
Director since 2017. Enterprise
Risk Management, Safety and Security
Committee; Finance and Capital
Investment Committee; Nominating/
Corporate Governance Committee.
Lester A. Snow
Former Director of the
California Department
of Water Resources
Director since 2011. Enterprise Risk
Management, Safety, and Security
Committee, Chair; Finance and Capital
Investment Committee; Organization
and Compensation Committee.
Patricia K. Wagner
Former Group President,
U.S. Utilities, Sempra Energy
Director since 2019. Finance and
Capital Investment Committee, Chair;
Audit Committee; Organization and
Compensation Committee.
Patricia K. Wagner
Former Group President,
U.S. Utilities, Sempra Energy
Director since 2019. Finance and
Capital Investment Committee, Chair;
Audit Committee; Organization and
Compensation Committee.
Scott L. Morris
Chairman, Avista
Corporation
Director since 2019. Lead
Independent Director; Nominating/
Corporate Governance Committee;
Organization and Compensation
Committee.
Charles R. Patton
Former Executive Vice
President, External Affairs,
American Electric Power
Company, Inc.
Director since 2023. Audit
Committee; Finance and Capital
Investment Committee.
Carol M. Pottenger
Principal and Owner of CMP
Global, LLC, and Retired U.S.
Navy Vice Admiral
Director since 2017. Enterprise
Risk Management, Safety and Security
Committee; Finance and Capital
Investment Committee; Nominating/
Corporate Governance Committee.
Lester A. Snow
Former Director of the
California Department
of Water Resources
Director since 2011. Enterprise Risk
Management, Safety, and Security
Committee, Chair; Finance and Capital
Investment Committee; Organization
and Compensation Committee.
Patricia K. Wagner
Former Group President,
U.S. Utilities, Sempra Energy
Director since 2019. Finance and
Capital Investment Committee, Chair;
Audit Committee; Organization and
Compensation Committee.
Corporate
Officers
Shawn C. Bunting
Senior Vice President,
General Counsel and
Business Development
Shawn C. Bunting
Senior Vice President,
General Counsel and
Business Development
Shannon C. Dean
Senior Vice President,
Customer Service and Chief
Sustainability Officer
James P. Lynch
Senior Vice President,
Chief Financial Officer and
Treasurer
Sophie M. James
Vice President, Water Quality
and Environmental Affairs
Kenneth G. Jenkins
Vice President, Water
Resource Planning and
Sustainability
Martin A. Kropelnicki
Chairman, President, and
Chief Executive Officer
Michael B. Luu
Senior Vice President,
Corporate Services and Chief
Risk Officer
Michael S. Mares
Senior Vice President,
Operations
Shawn C. Bunting
Senior Vice President,
General Counsel and
Business Development
Shannon C. Dean
Senior Vice President,
Customer Service and Chief
Sustainability Officer
James P. Lynch
Senior Vice President,
Chief Financial Officer and
Treasurer
Sophie M. James
Vice President, Water Quality
and Environmental Affairs
Kenneth G. Jenkins
Vice President, Water
Resource Planning and
Sustainability
Martin A. Kropelnicki
Chairman, President, and
Chief Executive Officer
Michael B. Luu
Senior Vice President,
Corporate Services and Chief
Risk Officer
Michael S. Mares
Senior Vice President,
Operations
Greg A. Milleman
Vice President, Rates
and Regulatory Affairs
Michelle R. Mortensen
Vice President, Corporate
Secretary and Chief of Staff
Daryl L. Osby
Vice President, Emergency
Preparedness, Safety, and
Security
Elissa Y. Ouyang
Vice President, Facilities,
Fleet, and Procurement
Shilen M. Patel
Chief Business Development
Officer and Vice President,
Texas Water Service
Todd K. Peters
Chief Engineering Officer
Thomas A. Scanlon
Corporate Controller and
Principal Accounting Officer
Justin B. Skarb
Vice President, Government
and Community Affairs
Ronald D. Webb
Vice President, Chief Human
Resource Officer
Greg A. Milleman
Vice President, Rates
and Regulatory Affairs
Michelle R. Mortensen
Vice President, Corporate
Secretary and Chief of Staff
Daryl L. Osby
Vice President, Emergency
Preparedness, Safety, and
Security
Elissa Y. Ouyang
Vice President, Facilities,
Fleet, and Procurement
Shilen M. Patel
Chief Business Development
Officer and Vice President,
Texas Water Service
Todd K. Peters
Chief Engineering Officer
Thomas A. Scanlon
Corporate Controller and
Principal Accounting Officer
Justin B. Skarb
Vice President, Government
and Community Affairs
Ronald D. Webb
Vice President, Chief Human
Resource Officer
Corporate Information
To Transfer Stock
A change of ownership of shares (such as when stock is sold or
gifted or when owners are deleted from or added to stock certificates) requires a transfer of
stock. To transfer stock, the owner
must complete the assignment on the back of the certificate
and sign it exactly as his or her name appears on the front.
This signature must be guaranteed by an eligible guarantor
institution (banks, stockbrokers, savings and loan associations,
and credit unions with membership in approved signature
medallion programs) pursuant to SEC Rule 17Ad-15. A notary’s
acknowledgment is not acceptable. This certificate should then
be sent to Computershare Investor Services (Computershare) by
registered or certified mail with complete transfer instructions.
Alternatively, the Direct Registration System can be utilized,
which allows electronic share transactions between your broker
or dealer and Computershare.
Annual Report for 2024 on Form 10-K
A copy of the Company’s annual report for 2024 filed with the
Securities and Exchange Commission (SEC) on Form 10-K is
available and can be obtained by any stockholder at no charge
upon written request to the Company. The Company’s filings
with the SEC can be viewed via the link to the SEC’s EDGAR
system on the Company’s website.
Anticipated Dividend Dates for 2025
| QUARTER | DECLARATION | RECORD DATE | PAYMENT DATE |
|---|---|---|---|
| First | January 29 | February 10 | February 21 |
| Second | April 30 | May 12 | May 23 |
| Third | July 30 | August 11 | August 22 |
| Fourth | October 29 | November 10 | November 21 |
Annual Meeting
The Annual Meeting of
Stockholders will be held online
on Wednesday, May 28, 2025,
at 9:30 a.m. PT. Details of the
business to be transacted during
the meeting will be contained
in the proxy material, which
will be mailed to stockholders
on or about April 16, 2025.
Computershare Investor Services
462 South 4th Street,
Suite 1600
Louisville, Kentucky 40202
Suite 1600
Louisville, Kentucky 40202
Bond Registrar
U.S. Bank Trust, N.A.
One California Street
San Francisco, California 94111
415.273.4580
San Francisco, California 94111
415.273.4580
Executive Office and Stockholder Information
California Water Service Group
Attn: Stockholder Relations
1720 North First Street
San Jose, California 95112
408.367.8200 or
800.750.8200
www.calwatergroup.com
Attn: Stockholder Relations
1720 North First Street
San Jose, California 95112
408.367.8200 or
800.750.8200
www.calwatergroup.com
This report contains forward-looking statements that are based on currently available
information, expectations, estimates, assumptions and projections, and management’s
judgment about the Company, the water utility industry, and general economic conditions.
Forward-looking statements, which are identified by words such as seek, expect, intend,
plan, believe, anticipate, project, will, and forecast, are not guarantees of future performance,
and actual results may vary materially. Please see our 2024 Annual Report on
Form 10-K for more information.
Acting On Our Vision
Protecting our water.
Investing in our
communities.
Serving our customers.
Contributing to the
greater
good.
1720 North First Street, San Jose, California 95112-4508
Phone: 408.367.8200 www.calwatergroup.com NYSE: CWT