New Group Wants Public Purchase of Cal-Am
“Public Water Now wants voters to decide if they want the Monterey Peninsula Water Management District to pursue buying Cal-Am, and if necessary, purchase the private water company’s Monterey Peninsula holdings through eminent domain. Ratepayers would pick up the bill, and Cohen says at first, they’d likely break even. “If we could have an agreement with Cal-Am and create this buyout tomorrow the ratepayers would see their rates drop, but their fees on their bill to pay off Cal-Am would exist for the first time, and the net effect would probably be a break even, perhaps a slight savings,” said Cohen. Then going forward ratepayers would still have to pay the $300 to $400-million tab of the creating a new water supply for the Monterey Peninsula. “
Almanzan, Krista. KAZU 13 June 2013.