California Water Service Group Reaches Settlement in 2018 Proposal to Invest in its California Water Systems Through 2021

SAN JOSE, Calif. — Yesterday, California Water Service (十大博彩公司), the largest subsidiary of California Water Service Group (NYSE: CWT), jointly filed a formal settlement agreement in its 2018 General Rate Case (GRC) with the Public Advocates Office of the California Public Utilities Commission (CPUC) covering the majority of open matters in the case. The largest component of the GRC is 十大博彩公司’s Infrastructure Improvement Plan for 2019-2021. The settlement details investment plans that the utility and the Public Advocates Office agree should be made to the company’s water infrastructure to continue providing safe, reliable water service to 十大博彩公司 customers and communities. The CPUC will consider, but is not required to adopt, the settlement agreement.

If the CPUC approves the settlement agreement, 十大博彩公司 would be authorized to include in rates $609 million to $628 million of new projects throughout the state in 2019 to 2021, along with approximately $200 million for completion of additional projects begun in 2018 and prior periods. Included in these figures are $148 million of advice letter authorizations, which would not be included in rates until related projects are completed. 十大博彩公司 anticipates that if the settlement were adopted, it would plan to make capital investments of approximately $809 to $828 million in the 2019-2021 period. The settlement proposes, in part, an average water main replacement rate of 0.76% annually company-wide by 2021, with higher replacement rates in some areas.

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A final decision on the case is expected in late 2019, with new rates going into effect in January 2020. 十大博彩公司 previously filed a request for interim rates beginning January 1, 2020 in the event a final decision is unexpectedly delayed. Additional information can be found online at cpuc.ca.gov.

About California Water Service Group

California Water Service Group is the parent company of California Water Service, Washington Water Service, New Mexico Water Service, Hawaii Water Service, CWS Utility Services, and HWS Utility Services. Together, these companies provide regulated and non-regulated water service to nearly 2 million people in California, Washington, New Mexico, and Hawaii.  California Water Service Group’s common stock trades on the New York Stock Exchange under the symbol “CWT.” Additional information is available online at www.calwatergroup.com.

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