Investor Presentaiton
California Regulatory Update
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In March, the CPUC extended the statutory deadline for the cost of capital case to
August 2023. The Commission may issue a proposed decision any time before that
date, or it may extend the deadline in a subsequent action.
Given the success of the company's financing program, our proposed cost of debt in
the application was lower than last adopted. The company has not reserved for any
potential outcome of the proceeding. In the event the CPUC adopts capital
components retroactively to January 1, 2022, we estimate the reduced cost of debt,
if adopted at our proposed equity capital structure, would reduce 2022 authorized
annual revenue by approximately $11.0 million. This amount could be offset or
increased depending on the final cost of equity and capital structure adopted by the
CPUC. The potential impact to 2023 authorized annual revenue is dependent on the
resolution of the 2021 GRC Filing.
There has been no update on the California General Rate Case during the quarter.
CALIFORNIA
WATER SERVICE GROUP
INVESTING FOR LIFE
INVESTOR
RELATIONS
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