American States Water announces CPUC decision on electric rates

By Bobby Samwell • Tuesday, January 21 15:25 • Permanent Link

American States Water Company (NYSE: AWR) announced that the California Public Utilities Commission (CPUC) has made a final decision in the general rate case for its regulated electric utility subsidiary, Bear Valley Electric Service, Inc. (BVES). The new electric rates for the years 2023-2026 will be set based on this decision, with the rates expected to go into effect on March 1, 2025.

As a result of the final decision, BVES will file for the implementation of new 2023-2025 rate increases and, within 90 days from the effective date of the final decision, will also file for recovery of retroactive amounts accumulated through February 28, 2025 related to the new rates.

The financial impact from this final decision will be included in the company's 2024 fourth-quarter earnings release and in the 2024 Form 10-K filed with the Securities and Exchange Commission. The market has reacted to these announcements by moving the company's shares 0.4% to a price of $75.2. For the full picture, make sure to review American States Water's 8-K report.

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