SAN JOSE, Calif.--(BUSINESS WIRE)--July 14, 2008--At its meeting
on July 10, the California Public Utilities Commission (CPUC) approved
a settlement between the CPUC's Division of Ratepayer Advocates and
California Water Service Company (Cal Water), the largest subsidiary
of California Water Service Group (NYSE: CWT), authorizing rate
increases in eight Cal Water districts.
The decision authorizes rate increases totaling $33.4 million for
operating districts in Chico, East Los Angeles, Livermore, Los Altos,
Mid-Peninsula (San Carlos and San Mateo), Salinas, Stockton, and
Visalia. The decision also allows Cal Water to receive other rate
relief, including recognition of increased system-wide costs such as
healthcare, water quality requirements, and infrastructure. A copy of
the full decision may be obtained at the CPUC's web site at
www.cpuc.ca.gov.
In its decision, the CPUC notes, "we are not unmindful of the
impact the increases will have on customers, but we are also concerned
that the infrastructure of water utilities we regulate, including Cal
Water's, is aging and will require significant infrastructure planning
and investment in future years."
California Water Service Group is the parent company of California
Water Service Company, Washington Water Service Company, New Mexico
Water Service Company, Hawaii Water Service Company, Inc., and CWS
Utility Services. Together these companies provide regulated and
non-regulated water service to nearly 2 million people in 100
California, Washington, New Mexico, and Hawaii communities. Group's
common stock trades on the New York Stock Exchange under the symbol
"CWT".
This news release contains forward-looking statements within the
meaning established by the Private Securities Litigation Reform Act of
1995 ("Act"). The forward-looking statements are intended to qualify
under provisions of the federal securities laws for "safe harbor"
treatment established by the Act. Forward-looking statements are based
on currently available information, expectations, estimates,
assumptions and projections, and management's judgment about the
Company, the water utility industry and general economic conditions.
Such words as expects, intends, plans, believes, estimates, assumes,
anticipates, projects, predicts, forecasts or variations of such words
or similar expressions are intended to identify forward-looking
statements. The forward-looking statements are not guarantees of
future performance. They are subject to uncertainty and changes in
circumstances. Actual results may vary materially from what is
contained in a forward-looking statement. Factors that may cause a
result different than expected or anticipated include, but are not
limited to: governmental and regulatory commissions' decisions;
changes in regulatory commissions' policies and procedures; the
timeliness of regulatory commissions' actions concerning rate relief;
new legislation; electric power interruptions; increases in suppliers'
prices and the availability of supplies including water and power;
fluctuations in interest rates; changes in environmental compliance
and water quality requirements; acquisitions and our ability to
successfully integrate acquired companies; the ability to successfully
implement business plans; changes in customer water use patterns; the
impact of weather on water sales and operating results; access to
sufficient capital on satisfactory terms; civil disturbances or
terrorist threats or acts, or apprehension about the possible future
occurrences of acts of this type; the involvement of the United States
in war or other hostilities; restrictive covenants in or changes to
the credit ratings on our current or future debt that could increase
our financing costs or affect our ability to borrow, make payments on
debt or pay dividends; and, other risks and unforeseen events. When
considering forward-looking statements, you should keep in mind the
cautionary statements included in this paragraph, as well as the
annual 10-K, Quarterly 10-Q, and other reports filed from time-to-time
with the Securities and Exchange Commission (SEC). The Company assumes
no obligation to provide public updates of forward-looking statements.
Additional information is available at our Web site at
www.calwatergroup.com.
CONTACT: California Water Service Group
Marty Kropelnicki, 408-367-8200 (analysts)
Shannon Dean, 310-257-1435 (media)
SOURCE: California Water Service Group
