Build, because it's the best economic choice for customers who choose to stay with us. Purchase, because it provides the necessary flexibility as the retail, competitive market develops. Driven by new laws and regulatory direction, incumbent Western utilities are divesting generation. SRP's strategy is to realign our ownership interests where it makes sense. Meanwhile, we continue to devote substantial resources to the reliability of our distribution system.
High priorities are underground cable replacements and voltage support investments.
Our retail power marketing subsidiary, New West Energy, a successful entrant in the highly competitive California market, has completed its start-up phase, and as its original contracts roll over, has taken the opportunity to prune its customer base, renewing contracts selectively. Our challenge is to maintain New West's competitive posture during a transition period longer than originally anticipated, to fulfill its primary mission of marketing SRP's excess generation. The water side of our business is managing through a two-year shortage. Early signs of a possible return to more typical weather patterns are encouraging, but we are prepared to manage during an extended shortage. Their commitment to SRP, its electric customers and water shareholders remains the foundation of our success.