CPUC Approves Cal Water Rate Plan and $1.45 Billion in System Upgrades

Overview

• Regulators issued a final decision that lifts Cal Water’s company-wide revenues by 10.9% in 2026, 4.7% in 2027, and 5.1% in 2028.
• The decision authorizes $1.45 billion for projects through 2027 and permits up to $229 million more subject to the CPUC’s advice letter review process.
• The ruling renews revenue-balancing tools and adds a sales reconciliation mechanism, which helps steady utility income when customers use less water.
• Cal Water plans to begin the new rates this summer and is reviewing how the decision will affect bills in each service area.
• Separately, the board declared a 325th straight quarterly dividend of $0.335 per share, signaling steady shareholder returns as the company serves more than 2.2 million people across five states.