Cal Water files CPUC advice letter; ROE rises to 10.27% effective Jan 1, 2024

CALIFORNIA WATER SERVICE GROUP

Authorized ROE increases 70 bps to 10.27% from 9.57% effective Jan 1, 2024.
Authorized rate of return increases 38 bps to 7.46% from 7.08% effective Jan 1, 2024.
Estimated to increase annual operating revenue for fiscal 2024 by approximately $10 million.
Cost of debt of 4.23% and capital structure (53.4% equity / 46.6% debt) unchanged.
Triggered by WCCM: Moody’s Aa Utilities Bond Index rose approx 140 bps over measurement period.

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