Agreement Includes Option for Purchase
Washington Water has entered into an agreement with Stroh’s Water Company (Stroh’s Water) to operate and maintain its water system, which serves about 1,000 customer connections near Washington Water’s existing service areas.
Washington Water plans to interconnect its East Pierce system with the Stroh’s Water system to improve water service reliability to Stroh’s customers. In addition to providing full operation and maintenance (O&M) services of the water system, Washington Water will provide billing, customer service, and emergency response to local customers. The O&M agreement extends for a two-year term, with the opportunity to purchase the system in the future.
“We are committed to providing a reliable supply of safe, high-quality water and excellent service to Stroh’s Water customers, and appreciate the company’s confidence in our expertise to serve them,” said Group’s President and Chief Executive Officer Martin A. Kropelnicki. “We look forward to providing the same quality, service, and value here that we’re committed to delivering throughout our Washington service areas.”
This news release contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 (“Act”). The forward-looking statements are intended to qualify under provisions of the federal securities laws for “safe harbor” treatment established by the Act. Forward-looking statements 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. Such words as would, expects, intends, plans, believes, estimates, assumes, anticipates, projects, predicts, forecasts or variations of such words or similar expressions are intended to identify forward-looking statements. The forward-looking statements are not guarantees of future performance. They are subject to uncertainty and changes in circumstances. Actual results may vary materially from what is contained in a forward-looking statement. Factors that may cause a result different than expected or anticipated include, but are not limited to: ability to operate Stroh’s Water Company in an accretive manner; natural disasters or calamities, public health crises, pandemics, epidemics, or outbreaks of a contagious disease, such as the recent outbreak of coronavirus (COVID‐19), or any escalation or worsening of the foregoing; governmental and regulatory commissions’ decisions, including decisions on proper disposition of property; consequences of eminent domain actions relating to our water systems; changes in regulatory commissions’ policies and procedures; the timeliness of regulatory commissions’ actions concerning rate relief and other actions; changes in water quality standards; changes in environmental compliance and water quality requirements; electric power interruptions; housing and customer growth trends; the impact of opposition to rate increases; our ability to recover costs; availability of water supplies; issues with the implementation, maintenance or security of our information technology systems; civil disturbances or terrorist threats or acts; the adequacy of our efforts to mitigate physical and cyber security risks and threats; the ability of our enterprise risk management processes to identify or address risks adequately; labor relations matters as we negotiate with unions; changes in customer water use patterns and the effects of conservation; the impact of weather and climate on water quality, water availability, water sales and operating results, and the adequacy of our emergency preparedness; and, other risks and unforeseen events. When considering forward-looking statements, you should keep in mind the cautionary statements included in this paragraph, as well as the annual 10-K, Quarterly 10-Q, and other reports filed from time-to-time with the Securities and Exchange Commission (SEC). The Company assumes no obligation to provide public updates of forward-looking statements.