ACC approves ~$2.2M annualized rate increase for Global Water, phased in through 2024

Global Water Resources, Inc.

Rate increase of $2.2M annualized based on 2019 test year; phases: $1.46M Aug 2022, $676K Jan 2023, $99K Jan 2024.
Approved consolidation of water/wastewater rates for Red Rock, Santa Cruz, Palo Verde, Picacho Water, and Picacho Utilities in Pinal County.
Acquisition premiums for Red Rock and Turner Ranches utilities included in rate base; goodwill reclassed over 25 years.
ACC approved annual adjustments for property/income tax expense and a Sustainable Water Surcharge for new water resource costs.
New rates apply to ~96% of active connections; last rate case was in 2014.

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