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  "documentTitle": "Essential Utilities, Inc. (WTRG)",
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  "presentationDate": "2023-03-08 00:00:00",
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  "notes": "Uses a 'before-after' comparison to highlight a specific strategic omission.",
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      "text": "Spruce Point Question: \"Would you be concerned if WTRG is falling behind its rate base growth projections? ...\" Answer: \"Yes, I would.\"",
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      "text": "Notice omission of: \"Sign municipal deals of at least $100m of rate base\"",
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      "text": "Notice omission of: \"Sign municipal deals of at least $100m of rate base\"",
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      "text": "WTRG put weaker growth priorities in writing for 2023. Notice carefully that it is no longer committing to a minimum rate base pick-up from acquisitions.",
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      "text": "Spruce Point Question: \"Would you be concerned if WTRG is falling behind its rate base growth projections? Do you agree that if WTRG starts missing its expectations in rate base growth that it would be a major cause of concern for investors?\" Answer: \"Yes, I would. And that's because utility companies are so hyper-focused on rate base growth. To achieve their earnings growth, they have to get into service the capital they're spending.\" — Spruce Point interview",
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      "text": "Weaker Rate Base Goals In 2023",
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