Connecticut Water Service, Inc., through its subsidiaries, operates as a regulated water company. The company’s water activities are carried out within its regulated water companies, including The Connecticut Water Company; The Maine Water Company (Maine Water); and The Biddeford & Saco Water Company, collectively the ‘Regulated Companies’. As of December 31, 2013, the Regulated Companies supplied water to 121,768 customers in 76 municipalities throughout Connecticut and Maine. In addition to its Regulated Companies, the company owns two active unregulated companies, such as Chester Realty, Inc., a real estate company in Connecticut; and New England Water Utility Services, Inc. (NEWUS), which provides contract water and sewer operations, and other water related services. Segments The company operates through three segments: Water Activities (the company’s regulated companies), Real Estate Transactions (through either its regulated or unregulated companies), and Services and Rentals (its unregulated companies). Water Activities This segment includes the company’s core regulated water activities to supply public drinking water to its customers. This segment includes various transactions of the company’s Regulated Companies with the exception of certain real estate transactions. Real Estate Transactions This segment is engaged in the sale or donation for income tax benefits of the company’s real estate holdings. These transactions could be effected by any of the company’s subsidiary companies. The company finalized a land sale with the town of Plymouth, Connecticut to sell approximately 175 acres of land for open space and recreational purposes. Services and Rentals This segment provides contracted services to water and wastewater utilities and other clients, and also leases certain of the company’s properties to third parties through its unregulated companies in the state of Connecticut and through Maine Water in the state of Maine. The types of services provided include contract operations of water and wastewater facilities; Linebacker, the company’s service line protection plan for public drinking water customers; and providing bulk deliveries of emergency drinking water to businesses and residences through tanker truck. Linebacker is an optional service line protection program offered by the company to eligible residential customers through NEWUS in Connecticut and Maine Water in Maine covering the cost of repairs for leaking or broken water service lines, which provide drinking water to a customer's home. For customers who enroll in this program, the company would repair or replace a leaking or broken water service line, curb box, curb box cover, meter pit, meter pit cover, meter pit valve plus in-home water main shut off valve before the meter. As of December 31, 2013, NEWUS had 20,228 customers enrolled in its Linebacker protection program. Water Systems As of December 31, 2013, the company’s water infrastructure consisted of 77 noncontiguous water systems in the states of Connecticut and Maine. Its system, in total, consists of approximately 2,100 miles of water main and reservoir storage capacity of 9.4 billion gallons. The company supplies water, and in various cases, fire protection to all or portions of 76 towns throughout Connecticut and Maine. History Connecticut Water Service, Inc. was founded in 1956.
connecticut water svc inc
(CTWS:Consolidated Issue Listed on NASDAQ Global Select )
93 West Main Street
Clinton, CT 06413
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