2023-06-16 01:55:16 ET
The New Mexico Public Regulation Commission or NMPRC has given approval for New Mexico Water—a subsidiary of California Water Service Group ( NYSE: CWT ) to acquire the assets of Monterey Water Company, through which New Mexico Water can close the purchase and provide regulated water utility service to Monterey’s customers.
New Mexico Water will own and operate the water system, which is less than a half-mile from New Mexico Water’s Rio Del Oro system.
The acquisition remains subject to customary closing conditions and is expected to close this summer.
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New Mexico Water, part of California Water Service will acquire Monterey Water Company