H2O America is a regulated water and wastewater utility holding company that produces, purchases, and distributes water through wholly owned subsidiaries serving approximately 405,000 water connections across California, Connecticut, Maine, and Texas. The company's primary operations are conducted through San Jose Water Company, Connecticut Water Service, and The Texas Water Company, which serve residential, commercial, and municipal customers across their exclusive service territories without facing competition from other investor-owned utilities. H2O America generates revenue through regulated rate structures set by state public utility commissions that are designed to recover operating expenses, fund infrastructure replacement, and provide reasonable shareholder returns based on authorized return on equity and debt-equity ratios that vary by state.