California Water Service Requests Rate Decreases Due to New Tax Law and Capital Financing Costs
SAN JOSE, Calif.,
Since the 2018 Tax Cuts and Jobs Act was enacted in
Additionally, earlier this year, the CPUC authorized lower capital financing costs for Cal Water for
In some service areas, previously requested revenue increases for water production costs and infrastructure improvements will go into effect at the same time. This decrease will offset the impact of any increases.
“At Cal Water, we are committed to providing a reliable supply of high-quality water to our customers. And, as a regulated utility, our water rates reflect the true cost of providing that service,” said Martin A. Kropelnicki, President and CEO. “When costs increase, rates increase; however, when costs decrease, we will ensure our customers’ rates also decrease. This is part of our promise to provide quality, service, and value.”
California Water Service serves about 2 million people through 484,900 service connections in California. The utility has provided water service in the state since 1926. Additional information may be obtained online at www.calwater.com.
Contact: Yvonne Kingman, 310-257-1434
Source: California Water Service Group