California Water Service Group (CWT) said Wednesday that the California Public Utilities Commission granted its request to extend its cost of capital application by a year to May 1, 2026.
The regulator's decision to postpone the cost of capital application from May 1, 2025 allows the company's California Water Service utility to maintain the current 10.27% return on equity and 4.23% cost of debt, the company said.
Chief Executive Martin Kropelnicki said the extension will help lower the frequency of rate changes for customers.
Shares of California Water Service were up 2.1% in recent trading.
Price: 43.78, Change: +0.90, Percent Change: +2.10
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.