New Mexico Water Service receives approval to acquire Monterey Water Company
(UI) — The New Mexico Public Regulation Commission has given approval for New Mexico Water Service to acquire the assets of Monterey Water Company, paving the way for New Mexico Water to close the purchase and provide regulated water utility service to Monterey’s customers.
Upon closing, New Mexico Water—a subsidiary of California Water Service Group —will own and operate the water system, which is less than a half-mile from New Mexico Water’s Rio Del Oro system. The Monterey system, which will become part of the Rio Del Oro service area, currently serves 380 residential customers; about 100 undeveloped lots could also be served in the future if and when they are developed.
“We appreciate the New Mexico Public Regulation Commission’s diligence in reviewing and approving this transaction,” said Martin A. Kropelnicki, Group President and CEO.
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