SJW Group Announces the California Public Utilities Commission’s Approval of San Jose Water’s General Rate Case

SAN JOSE, Calif.--(BUSINESS WIRE)--Oct 6, 2022--

San Jose Water (“the Company”), a wholly-owned subsidiary of SJW Group (NYSE: SJW), announced today that the California Public Utilities Commission (“CPUC”) approved its General Rate Case for the years 2022 through 2024.

The final decision approves the Amended Settlement Agreement between the Public Advocates Office and the Company. It authorizes rates designed to increase revenue approximately $25.1 million or 6.0% for 2022. The 2022 rate increase will become effective on November 1 bills. Rates and revenues for 2023 and 2024 will subsequently be determined based on authorized utility plant investments and the forecasted change in the consumer price index from the preceding year.

The final decision also authorizes San Jose Water to implement a surcharge to recover the revenue difference between interim and final rates for 2022. The authorized 2022 revenue increase, retroactive to January 1 until the implementation of the new rates, will be included in the surcharge.