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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13
or 15(d) of
The Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
January 24, 2024
CALIFORNIA WATER SERVICE GROUP
(Exact name of Registrant as Specified in its
Charter)
Delaware
(State or other jurisdiction of incorporation) |
1-13883
(Commission file number) |
77-0448994
(I.R.S. Employer Identification Number) |
1720 North First Street San Jose, California
(Address of principal executive offices) |
95112
(Zip Code) |
(408) 367-8200
(Registrant’s telephone number, including
area code)
N/A
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b)) |
|
|
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Shares, par value $0.01 |
|
CWT |
|
New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging
growth company as defined by Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth
company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
On
January 26, 2024, California Water Service Group (Group) issued a press release (a copy of which is attached hereto as Exhibit 99.1 and
incorporated herein by reference) announcing California Public Utilities Commission’s proposed decision and alternate proposed decision
in Group’s 2021 general rate case.
Item 9.01. |
Financial Statements and Exhibits. |
(d) Exhibits.
We hereby file the following exhibit with this
report:
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
CALIFORNIA WATER SERVICE GROUP |
|
|
|
Date: January 29, 2024 |
By: |
/s/ David B. Healey |
|
Name: |
David B. Healey |
|
Title: |
Principal Financial Officer |
Exhibit 99.1
January 26, 2024
For immediate release
Cal Water Receives Proposed
Decision and
Alternate
Proposed Decision on 2021 General Rate Case
SAN JOSE, Calif.—On
January 24, 2024, the California Public Utilities Commission (CPUC) Administrative Law Judges assigned to California Water Service’s
(Cal Water) 2021 General Rate Case issued a proposed decision; the assigned Commissioner issued an alternate proposed decision.
Cal
Water is currently reviewing both the proposed decision and the alternate proposed decision. The decisions are available on the CPUC’s
website at docs.cpuc.ca.gov/SearchRes.aspx?DocFormat=ALL&DocID=523965968 (proposed) and
docs.cpuc.ca.gov/SearchRes.aspx?DocFormat=ALL&DocID=524105168 (alternate).
Parties to the General
Rate Case may submit comments on the proposals by February 13, 2024, and the earliest the Commission may consider the proposals
is March 7, 2024. At that time, the Commission could adopt all or part of a proposal as written, amend them, or postpone consideration
until a future Commission meeting.
The
2021 General Rate Case was filed by Cal Water in July 2021. When the Commission adopts a final
decision, it will be retroactive to January 1, 2023.
About
California Water Service and California Water Service Group
California Water Service provides
high-quality, reliable water and/or wastewater services to about 2 million people statewide through 496,400 service connections. It is
the biggest subsidiary of California Water Service Group (NYSE: CWT), the largest regulated water utility in the western United States.
In total, Group serves more than 2 million people in California, Hawaii, New Mexico, Washington, and Texas through its regulated subsidiaries,
California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, and its utility holding company,
Texas Water Service.
What
sets Cal Water and Group apart is their commitment to enhancing the quality of life for their customers, communities, employees, and
stockholders. Guided daily by their promise to provide quality, service, and value, the company’s employees lead the way
in working to protect the planet, care for people, and operate with the utmost integrity. Integral to Cal Water and Group’s
strategy is investing responsibly in water and wastewater infrastructure, sustainability initiatives, and community well-being.
The company has been named one of “America’s Most Responsible Companies” and the “World’s Most Trustworthy
Companies” by Newsweek and a Great Place to Work®, and Cal Water is No. 1 in Customer Satisfaction Among Large
Water Utilities in the West Region* by J.D. Power. More information is available at www.calwater.com and www.calwatergroup.com.
*California Water Service
received the highest score in the West Large segment of the J.D. Power 2023 U.S. Water Utility Residential Customer Satisfaction Study
of customers’ satisfaction nationally among water customers in the US. Visit jdpower.com/awards for more details.
This
news release contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995
("PSLRA"). The forward-looking statements are intended to qualify under provisions of the federal securities laws for "safe
harbor" treatment established by the PSLRA. Forward-looking statements in this news release are based on currently available information,
expectations, estimates, assumptions and projections, and our management's beliefs, assumptions, judgments and expectations about us,
the water utility industry and general economic conditions. These statements are not statements of historical fact. When used in our
document, statements that are not historical in nature, including words like will, would, expects, intends, plans, believes, may, could,
estimates, assumes, anticipates, projects, progress, predicts, hopes, targets, forecasts, should, seeks or variations of these words
or similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance.
They are based on numerous assumptions that we believe are reasonable, but are subject to uncertainty and risks. Actual results may vary
materially from what is contained in a forward-looking statement. Factors that may cause actual results to be different than those expected
or anticipated include, but are not limited to: governmental and regulatory commissions' decisions; consequences of eminent domain actions
relating to our water systems; changes in regulatory commissions' policies and procedures; the outcome and timeliness of regulatory commissions'
actions concerning rate relief and other actions; changes in water quality standards; changes in environmental compliance and water quality
requirements; electric power interruptions; the impact of opposition to rate increases; our ability to recover costs; availability of
water supplies; issues with the implementation, maintenance or security of our information technology systems; civil disturbances or
terrorist threats or acts; the adequacy of our efforts to mitigate physical and cyber security risks and threats; the ability of our
enterprise risk management processes to identify or address risks adequately; changes in customer water use patterns and the effects
of conservation; the impact of weather, climate change, natural disasters, and actual or threatened public health emergencies; the impact
of market conditions and volatility on unrealized gains or losses on our operating results; risks associated with expanding our business
and operations geographically; and other risks and unforeseen events described in our SEC filings. In light of these risks, uncertainties
and assumptions, investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of
this news release. When considering forward-looking statements, you should keep in mind the cautionary statements included in this paragraph,
as well as in our Annual 10-K, Quarterly 10-Q’s, and other reports filed from time-to-time with the Securities and Exchange Commission
(SEC). We are not under any obligation, and we expressly disclaim any obligation to update or alter any forward-looking statements, whether
as a result of new information, future events or otherwise.
#
# #
Media Contact
Yvonne Kingman
ykingman@calwater.com
310-257-1434
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