CPUC To Postpone Cost Of Capital Appln. Of California Water Service, 3 Utilities To 2026

California Water Service Group

39.84 CHF 2.27%

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Kaufen / Verkaufen

(RTTNews) - Wednesday, the California Public Utilities Commission or CPUC has accepted the request of California Water Service Group (CWT) and three other utilities and postponed their Cost of Capital applications to May 1, 2026.

Following the decision, the return on equity and cost of debt for California Water Service will remain at 10.27 percent and 4.23 percent, respectively.

Additionally, the CPUC has also reauthorized the Water Cost of Capital Mechanism.

California Water Service's CEO Martin Kropelnicki noted that the one-year extension will reduce the workload of its staff and frequency of rate changes for customers.

In the pre-market hours, CWT stock is trading at $43.49, up 1.42 percent on the New York Stock Exchange.