SAN JOSE, Calif.--(BUSINESS WIRE)--San Jose Water (“SJW” or “the Company”), a wholly-owned subsidiary of SJW Group (NYSE: SJW), announced today that the California Public Utilities Commission (CPUC) has approved its request to deploy Advanced Metering Infrastructure, more commonly known as AMI or smart meters. The Company will be investing approximately $100 million over the next four years in this technology, which supports customer service and environmental goals.
“We appreciate the CPUC’s approval of our AMI request, which will enhance the customer experience by giving customers greater control over their water usage and water bills. Smart meters support SJW’s commitment to preserving and protecting the environment by helping to detect and stop leaks quickly, respond to climate change impact, and reduce carbon emissions. This technology will help us effectively plan for future water supply needs,” said Andy Gere, President and COO of San Jose Water.
AMI systems track water usage and provide meaningful hourly data to monitor for leaks and consumption. When fully implemented, the benefits of AMI include:
- Access to water usage, 24 hours a day
- Early leak detection notifications
- High-use alerts
- Ability to monitor and manage water use during periods of drought
- Enhanced customer service
Currently, customers see their water usage when they receive a bill. For most, this is once every 60 days. AMI will also help reduce greenhouse gas emissions through water savings and decreased vehicle travel to its more than 230,000 water meters. San Jose Water is expected to cut its annual carbon footprint by 103 tons of CO2e, equivalent to the CO2 emissions from 11,590 gallons of consumed gasoline.
As the AMI deployment begins, SJW will work to engage and inform customers about the technology and its benefits.
About San Jose Water
Founded in 1866, San Jose Water is an investor-owned public utility, and is one of the largest and most technically sophisticated urban water systems in the United States. The company serves over one million people in the greater San Jose metropolitan area. San Jose Water is owned by SJW Group, a publicly traded company listed on the New York Stock Exchange under the symbol SJW. SJW Group also owns: Connecticut Water Company in Connecticut; Maine Water Company in Maine; and SJWTX, Inc. (dba Canyon Lake Water Service Company) in Texas. To learn more about San Jose Water, visit: sjwater.com.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Some of these forward-looking statements can be identified by the use of forward-looking words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” “projects,” “strategy,” or “anticipates,” or the negative of those words or other comparable terminology.
These forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions including, but not limited to, the following factors: (1) the effect of water, utility, environmental and other governmental policies and regulations, including actions concerning rates, authorized return on equity, authorized capital structures, capital expenditures and other decisions; (2) changes in demand for water and other services; (3) the impact of the Coronavirus ("COVID-19") pandemic on our business operation and financial results; (4) unanticipated weather conditions and changes in seasonality including those affecting water supply and customer usage; (5) climate change and the effects thereof; (6) unexpected costs, charges or expenses; (7) our ability to successfully evaluate investments in new business and growth initiatives; (8) the risk of work stoppages, strikes and other labor-related actions; (9) contamination of our water supplies and damage or failure of our water equipment and infrastructure; (10) catastrophic events such as fires, earthquakes, explosions, floods, ice storms, tornadoes, hurricanes, terrorist acts, physical attacks, cyber-attacks, or other similar occurrences; (11) changes in general economic, political, business and financial market conditions; (12) the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, changes in interest rates, compliance with regulatory requirements, compliance with the terms and conditions of our outstanding indebtedness, and general stock and debt market conditions; and (13) legislative and general market and economic developments.
In addition, actual results are subject to other risks and uncertainties that relate more broadly to our overall business, including those more fully described in SJW Group’s filings with the SEC, including the most recent reports on Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements are not guarantees of performance, and speak only as of the date made, and we undertake no obligation to update or revise any forward-looking statements except as required by law.