Texas Water Company (TWC), Canyon Lake’s water supplier, today said it has closed on the acquisition of two water companies, increasing its water supply by 40% and allowing it to meet current demand and anticipated growth through 2070.
KT Water Development Ltd. currently serves 570 customers in the Rockwall Ranch subdivision in southern Comal County with the potential to support 150 more connections. KT Water Resources LP is a wholesale groundwater resource supplier to KT Water Development.
The addition of KT Resources, which uses groundwater from the Trinity Aquifer, significantly increases TWC’s system resiliency, according to a statement issued today by SJW Group, which owns TWC.
“We are a pure-play water-and-wastewater utility, and we are eager to serve our new customers in Comal County and deliver high-quality water and reliable service to them,” said SJW Chair, President and CEO Eric Thornburg. “One critical aspect of this acquisition is the substantial water supplies that come with KT resources. Our Texas service area is experiencing sustained and rapid population growth. The approximately 40% increase in supply will enable us to serve growth in the region for years to come.”
Texas Water Resources (TWR) LLC President Thomas Hodge said integrating additional water supply from KT Water Resources will require substantial investment in drinking-water infrastructure. Water treatment, pumping, distribution and storage facilities are now in the design and development phase.
TWR is a non-regulated subsidiary of SJW group.
TWC has requested an applied-rate doctrine treatment for the acquisition for PUCT, which would allow the company TWC’s existing rates to KT Water Development. A decision is expected by fourth quarter 2023.
In other news, Aundrea Williams has been named the company’s new president.
Hodge praised her “commitment to serving customers and great respect for the environment,” describing her as a ‘servant-leader.”
TWC provides water service to approximately 78,000 people through over 26,000 water and 900 wastewater service connections. The company serves customers in Comal, Blanco, Kendall, Bandera, Medina, Hays and Travis companies.
SJW, which serves 1.5 million customers, is one of the largest investor-owned, pure-play water-and-wastewater utilities ion the United States. The company owns locally led and operated companies in San Jose California, Connecticut and Maine.
