Global Water Resources Seeks Rate Increases for Santa Cruz, Palo Verde Utilities

MT Newswires Live

03-10

Global Water Resources (GWRS) said Monday it filed a general rate case application with the Arizona Corporation Commission seeking a $6.5 million annual revenue increase for its Santa Cruz and Palo Verde utilities in Pinal County, Arizona.

The company said that with the requested rate adjustments, customers of both utilities are expected to see an 11% increase in their median monthly bill.

The new rates, based on a 2024 test year, would be phased in over two years, starting in May 2026, with a second adjustment in January 2027, Global Water Resources said. The company said the filing also includes a proposal for a regulatory mechanism that would allow for annual updates to costs and investments, if approved.

Shares of the company were up 1.4% in recent Monday trading.

Price: 11.69, Change: +0.16, Percent Change: +1.40

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