Exhibit 99.1
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NEWS RELEASE
CALIFORNIA WATER SERVICE GROUP
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![(CWT LOGO)](f56172f5617201.gif) |
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1720 North First Street |
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San Jose, CA 95112-4598
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June 28, 2010 |
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For Immediate Release |
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Contact:
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Marty Kropelnicki (408) 367-8200 (analysts) |
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Shannon Dean (310) 257-1435 (media) |
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CALIFORNIA WATER SERVICE COMPANY REACHES SETTLEMENT
AGREEMENT WITH DIVISION OF RATEPAYER ADVOCATES
ON 2009 CALIFORNIA GENERAL RATE CASE
SAN JOSE, CA California Water Service Group (NYSE: CWT) today announced that its largest
subsidiary, California Water Service Company, has entered into a settlement agreement with the
California Public Utilities Commissions (Commissions) Division of Ratepayer Advocates and other
participants on its company-wide 2009 General Rate Case.
The settlement is not binding on the Commission, which must take input from other participants
and determine whether the settlement terms are in the public interest. The Commission may adopt
the settlement in whole, in part, or reject it. The Commissions final decision on Cal Waters
rate request is expected by the end of the fourth quarter of 2010 and will be effective January 1, 2011.
The
settlement recommends rate increases that would add $35.3 million to gross revenues, as
well as an additional $7 million of rate relief that may be obtained after completion of certain
capital projects.
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., CWS Utility Services, and HWS 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. Groups 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 managements 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.
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