San Jose Water Receives State Funding to Help Customers Facing COVID Financial Hardship

Rhea-AI Summary

San Jose Water has received $9.7 million in customer relief funding from California, supported by the American Rescue Plan Act. This funding aims to assist customers who faced financial hardship during the COVID-19 pandemic and were unable to pay their water bills from March 4, 2020 to June 15, 2021. The funds were credited to customer accounts in early February 2022. San Jose Water also offers flexible payment plans for past due balances and a Water Rate Assistance Program for qualifying customers.

Positive

• Received $9.7 million in customer relief funding from California.
• Funds will directly assist customers affected by COVID-19 financial hardships.
• Customer accounts will be credited shortly, promoting goodwill.
• Offers flexible, interest-free payment plans for customers with past due balances.

Negative

• None.

San Jose Water has received $9.7 million in customer relief funding from the state of California, funded by the American Rescue Plan Act

SAN JOSE, Calif.--(BUSINESS WIRE)-- San Jose Water (“SJW” or “the Company”), a wholly-owned subsidiary of SJW Group (NYSE: SJW), announced today that it has received funds from the California Water and Wastewater Arrearage Payment Program (Program), which is administered by the State Water Resources Control Board. Funded by the American Rescue Plan Act, the funds are intended to help support customers who experienced financial hardship due to COVID-19, and were unable to pay their water bills from March 4, 2020 to June 15, 2021.

In 2021, San Jose Water requested $9.7 million in relief for customers within its service area. The full amount was received in early February 2022. The company will credit customer accounts shortly. Customers who receive arrearage relief will be notified by mail and see the credit reflected on their bills.

“We know that COVID-19 led to a very difficult time for many of our customers — both financially and personally. We are pleased to be able to help those in need,” said Andy Gere, President and COO. “We greatly appreciate the efforts of the California Legislature and Governor Newsom in establishing this important program, along with the State Water Resources Control Board for administering it. Our goal remains to support our customers and to assist them through this unprecedented time.”

For customers with past due balances beyond June 15, 2021, San Jose Water offers flexible, interest-free payment plans. The Company also offers a Water Rate Assistance Program (WRAP) which provides a discount to customers that qualify. The Company is here to support its customers and encourages them to contact its Customer Advocates by calling (408) 279-7900 to ensure there is no disruption to water service in the future.

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.

Please follow us on Facebook, Instagram and Twitter for the latest company news.

Forward-Looking Statements

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.

These forward-looking statements involve 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) contamination of our water supplies and damage or failure of our water equipment and infrastructure; (9) the risk of work stoppages, strikes and other labor-related actions; (10) catastrophic events such as fires, earthquakes, explosions, floods, ice storms, tornadoes, hurricanes, terrorist acts, physical attacks, cyber-attacks, epidemic, or 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 market and economic conditions; and (13) legislative and general market and economic developments. The risks, uncertainties and other factors may cause the actual results, performance or achievements of SJW Group to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Results for a quarter are not indicative of results for a full year due to seasonality and other factors. Other factors that may cause actual results, performance or achievements to materially differ are described in SJW Group’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC. Forward-looking statements are not guarantees of performance, and speak only as of the date made. SJW Group undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220222005931/en/

Media Contact:

Liann Walborsky

Director of Corporate Communications

(408) 918-7247

Investor Contact:

James P. Lynch

Chief Accounting Officer

(408) 279-7966

Source: San Jose Water