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California Council to Discuss Water Asset Purchase, Sun Reports

June 26 (Bloomberg) -- Claremont council members are discussing price and terms to potentially acquire Golden State Water Co. assets in the Southern California town, the San Bernardino County Sun reported, citing city officials.

Golden State Water and its parent, American States Water Co., said in February that its share of Golden State assets that serve Claremont aren’t for sale, the newspaper said.

Claremont’s hope to purchase water assets in the city east of Los Angeles follow a Golden State filing with the state Public Utilities Commission for double-digit rate increases next year and in 2014 and 2015 for 11,000 Claremont customers, the paper said. The council voted Jan. 5 to attempt to buy the water assets. Councilman Sam Pedroza has said purchasing the company could cost $100 million, the paper said.

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To contact the reporter on this story: Randall Hackley in Zurich at rhackley@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

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