American States Water Company Announces Approval by ACC of Increase in Rates; First Increase in over 14 Years.SAN DIMAS, Calif. -- American States Water Company (NYSE NYSE See: New York Stock Exchange :AWR AWR Automatic Workload Repository (Oracle database) AWR Applied Wave Research (El Segundo, CA) AWR Adventist World Radio AWR Advanced Warranty Replacement AWR American Warmblood Registry ) announced that the Arizona Corporation Commission ("ACC See adaptive cruise control. ") approved a rate increase for Chaparral City Water Company ("CCWC CCWC Club Crew World Championships CCWC Certain Conventional Weapons Convention CCWC Castle Crown Wilderness Coalition (Alberta, Canada) CCWC Can't Cook Won't Cook CCWC Coffee Creek Watershed Conservancy "), a subsidiary of American States Water Company, in Arizona. The rate increase was effective on October 1, 2005 and is expected to generate additional annual revenues of $1.1 million, an 18% increase over current revenues. Acquired by American States Water Company in October 2000, CCWC is a public utility company serving approximately 12,800 customers in Fountain Hills, Arizona Fountain Hills is a town in Maricopa County, Arizona, USA. It incorporated as an independent municipality in 1989, after spending most of its history as a master planned development on the far northern end of (now neighboring) Scottsdale. , and a small portion of Scottsdale, Arizona Scottsdale (O'odham Vaṣai S-vaṣonĭ) is a city in Maricopa County, Arizona, United States, adjacent to Phoenix. Scottsdale has become internationally recognized as a premier and posh tourist destination, while maintaining its own identity and culture as " . CCWC's customers have not had a rate increase in over 14 years. Certain matters discussed in this news release with regard to the Company's expectations may be forward-looking statements that involve risks and uncertainties. The assumptions and risk factors that could cause the actual results to differ materially include those described in the Company's Form 10-Q's and Form 10-K's filed with the Securities and Exchange Commission. About American States Water Company American States Water Company is the parent of Golden State Water Company, American States Utility Services, Inc. and Chaparral City Water Company. Through its subsidiaries, AWR provides water service to 1 out of 30 Californians located within 75 communities throughout 10 counties in Northern, Coastal and Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, (approximately 252,300 customers) and to approximately 12,800 customers in the city of Fountain Hills, Arizona, and portions of Scottsdale, Arizona. The Company also distributes electricity to approximately 22,800 customers in the Big Bear recreational area of California. Through its non-regulated subsidiary, American States Utility Services, the company contracts with various municipalities, the U.S. government and private entities to provide various services, including billing and meter reading, water marketing and operation and maintenance of water and wastewater systems. |
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