GSWC receives proposed CPUC decision adopting rate settlement; $404.8M capex authorized, retroactive 2022 rates

AMERICAN STATES WATER CO

Proposed decision adopts settlement with Cal Advocates, authorizes $404.8M capital infrastructure over 2022-2024.
New 2022 rates effective retroactive to Jan 1, 2022; retroactive impact reflected in Q1 2023 results.
Final CPUC decision expected Q2 2023; 2023 and 2024 increases subject to earnings test and inflation index.
Medical and general liability balancing accounts approved; consolidation of two service areas denied.
AWR to report Q1 2023 results after market close May 10, 2023; conference call May 11.

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