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CWT-News
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California Water Service's 2024 Rate Case Approved, Revenue Up $90.5 Million
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.
Company Reports Q1 Revenue of $214.57M
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."
California Water Company Reports Q4 Revenue of $220.0M
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.
California Water Service Acquires Nexus Water for $218 Million
California Water Service announced that it has reached an agreement to purchase Nexus Water Group's Nevada and Oregon water and wastewater systems, adding approximately 36,000 equivalent residential connections and a combined rate base of approximately $109M at December 31, 2025. "This is a great way to kick off our centennial year. We started out serving four small California communities in 1926, and with this acquisition, we will serve roughly two million people through approximately 584,000 service connections in seven western states. We look forward to completing the transaction and integrating the systems in a way that provides opportunities for employees and excellent service to customers," said chairman and CEO Martin Kropelnicki. The purchase price of approximately $218M which is subject to typical closing adjustments, will be funded with working capital and existing debt and equity facilities. The company expects to complete the transaction by the end of 2026.
California Water Service Group Acquires Remaining Membership Interests in BVRT
California Water Service Group, the majority equity investor in BVRT Utility Holding Company through its subsidiary, TWSC, has entered into an agreement to purchase the remaining membership interests of BVRT and become the sole owner of its seven subsidiary water and wastewater utilities in the Austin-San Antonio corridor. At the same time, BVRT has continued to expand its Texas footprint through opportunities to build and enhance water and wastewater infrastructure in the area. Group expects to file a change of control application with the Public Utilities Commission of Texas soon to acquire the remaining BVRT membership interests. Texas Water's acquisition of the remaining membership interests is subject to satisfaction of customary terms and conditions in addition to PUCT and Group Board approval. Separately, the PUCT has granted BVRT subsidiary Camino Real Utility Company a water certificate of convenience and necessity, forming a water utility that can serve future customer connections within nearly 230 acres southeast of downtown Mustang Ridge in Caldwell County. Camino Real, which already provides wastewater service to 270 customers in Travis and Caldwell counties, has also signed an agreement with Oatman Hill Municipal Utility District to extend about 21,500 feet of sewer main from its existing wastewater treatment facility to serve the adjacent, 253-acre Oatman Hill development. At full buildout, which is expected to occur in 2036, Oatman Hill is expected to include up to 5,000 equivalent dwelling units.
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