California Water Service Group 2024年度报告

Vision Action About California Water Service Group Contents 02Vision to Action26Business at a Glance28Our Service Areas30Letter to Stockholders34CWT 20-Year Total Returnon Investment36Eight-Year Financial Review38Board of Directors40Corporate Officers42Corporate Information California Water Service Group (NYSE: CWT) is thethird-largest publicly traded water utility in the United States,providing high-quality water and wastewater services to morethan two million people through four regulated subsidiaries:California Water Service (Cal Water), Hawaii Water Service(Hawaii Water), New Mexico Water Service (New MexicoWater), and Washington Water Service (Washington Water).A fifth subsidiary, Texas Water Service, invests in water andwastewater infrastructure in Texas. We are committed to improving the quality of life for ourcustomers, communities, employees, and stockholders. We dothis by living our core values and delivering on our promise toprovide quality, service, and value. Vision without actionlacks impact. Action withoutvision lacks meaning. But when vision leads to action, the result is both impactfuland meaningful. At California Water Service Group, we contributeto the greater good by acting on our vision and executing aforward-looking strategy that enhances the quality of life for ourcustomers, communities, employees, and stockholders. Vision→Stewardship As a provider of a life-sustaining, finite natural resource, we are seriousabout environmental stewardship. Long before climate change andESG took center stage, we recognized the importance of conservingand protecting our water supplies. Today, our approach to sustainabilityis multifaceted and includes water-use efficiency, water supply planningand resilience, and responsible, efficient operations. Left: Employees oversee an innovative water reusepartnership with the Horse Park at Woodside, whichshares our dedication to environmental stewardship. Saving Our Precious Water Occasionally, we need to flush water from our pipes to enhancewater quality. In Woodside, California, our team found a way topartner with one of our customers to put the flushed water togood use. And it happens to be a customer who shares our dedi-cation to responsible environmental stewardship. The Horse Parkat Woodside, which provides services to underserved youth andsupports equine therapy for those with disabilities, also eradicatesinvasive plant species, maintains bluebird boxes, and keeps raptorperches throughout its property. Here, the flushed water is used tomake the arenas safe for the horses. This water reuse partnership with The Horse Park is part of a muchlarger water conservation effort, as we offer everything from turfreplacement to efficient appliance rebates to larger scale programsfor fire departments, cities, and commercial and industrial customers. In 2024, we invested approximately$2 million in conservation programsthat are anticipated to save 52 milliongallons of water per year. “We continue to identify recycled water opportunities, which shouldexpand now that the new California standard for convertingwastewater to drinking water became effective October 1, 2024.We’re currently developing a Water Reuse Strategic Plan that willguide us as we work to increase our recycled water supplies.” Ken Jenkins, Vice President, Water Resource Planning & Sustainability Pursuing RecycledWater Opportunities We currently deliver more than 2 billion gallons of recycled waterper year, roughly 2.5% of our total water supply, for landscaping,irrigation, and industrial uses. We believe recycled water will bean increasingly important source of supply in the future; in fact,we aim to increase deliveries to at least 5% of our total supply by2035. To that end, we have reached an agreement with Caltransto bring recycled water to our Mid-Peninsula service area innorthern California, and we are participating in the PureWaterPeninsula project, which is exploring indirect and direct potablereuse options in the San Francisco Bay Area. Operating Efficiently and Responsibly In 2024, we made significant progress on our efforts to lessenour impact on the environment. We established new vehiclestandards to add more electric and hybrid vehicles to our fleetand identified four sites for the first phase of construction ofelectric vehicle charging infrastructure. On the energy efficiency front, we upgraded the heating, ventila-tion, and air conditioning (HVAC) system on our headquarterscampus, a project that is expected to reduce energy usage by170,400 kilowatt hours per year. We also invested more than$2 million to replace pumps and motors with new equipmentthat will optimize energy consumption and increase reliability. Finally, Cal Water requested proposals for the design andconstruction of two onsite solar projects, one located at ourheadquarters and another at our Northeast Treatment Plant inBakersfield. These projects, with an expected combined capacityof two megawatts of direc