SJW Group Announces That Its Texas Subsidiary Has Completed the Acquisition of the Clear Water Estates Water System in Canyon Lake, Texas
The acquisition is the first under Texas's Fair Market Value provision
SJW Group (NYSE:SJW) today announced that its Texas subsidiary, SJWTX Inc., which does business as Canyon Lake Water Service Company, has completed the acquisition of the Clear Water Estates Water System in Canyon Lake, Texas. The Public Utilities Commission of Texas (PUCT) approved the sale and transfer of all Clear Water Estates facilities to SJWTX on March 1. This was the first application to the PUCT to request treatment under Texas's new Fair Market Value legislation.
Eric W. Thornburg, chairman, president and CEO of SJW Group, stated, "We are pleased to be the first to use the new fair market value process in Tex
