CWT News & Events

California Water Service received a final decision on its 2024 General Rate Case and Infrastructure Improvement Plan from the California Public Utilities Commission - CPUC - on April 30, 2026. The Company believes the decision enables Cal Water to invest responsibly in water system infrastructure through 2027 to support its communities and sets Cal Water's revenue and rates to help sustain safe, clean, reliable water service through 2028. The CPUC adopted the proposed decision issued March 13, 2026 with revisions issued on April 29, 2026 (revised PD). The final decision increases Cal Water's company-wide revenues by $90.5 million in 2026, $43.2 million in 2027 (a rate increase of 4.7%), and $48.9 million in 2028 (a rate increase of 5.1%). The differences between approved revenue and rate increases in the PD and the revised PD are primarily attributable to a reduction in authorized capital, some of which is now subject to the CPUC's advice letter process discussed below Cal Water is currently analyzing how the final decision will impact rates in each of its service areas.

Reports Q1 revenue $214.57M vs. $203.97M last year. "On April 29, we received a revised PD in our 2024 California GRC, which represents a significant milestone and provides significant visibility into our California authorized revenues over the next several years," said chairman and CEO Martin Kropelnicki. "We look forward to the CPUC adopting a final decision at its April 30, 2026 meeting or shortly thereafter, and being able to provide more clarity after the case is finalized."

Reports Q4 revenue $220.0M vs. $222.2M last year. Revenue was impacted by declining customer consumption due to extremely wet December weather, which was partially offset by rate changes and changes in the Monterey-style water revenue adjustment mechanism. "Given that this is the third year of our California rate case cycle and that we had a much wetter than normal December, these results are in line with our expectations," said CEO Martin Kropelnicki.