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Hawaii Public Utilities Commission Sets New Rates for Hawaii Water Service to Help Keep Ka'anapali Water System Safe and Reliable

1. Hawaii Water approved a $276,900 revenue increase by HPUC. 2. New water rates effective April 18, 2025, to fund infrastructure upgrades. 3. Upgrades include storage tanks and generators for improved water reliability. 4. Hawaii Water aims to maintain affordable rates while ensuring service quality. 5. New tiered usage rates encourage conservation among lower-usage customers.

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FAQ

Why Bullish?

The revenue increase indicates strong operational growth for Hawaii Water, hence benefiting CWT's stock.

How important is it?

The developments directly enhance service reliability and are likely to increase CWT's market confidence.

Why Long Term?

Sustained investments and improvements position the company well for future profitability.

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AWKWSRNWN
WAIKOLOA, Hawaii, May 06, 2025 (GLOBE NEWSWIRE) -- Hawaii Water Service (Hawaii Water) has received approval from the Hawaii Public Utilities Commission (HPUC) to increase annual revenue by $276,900 in its Ka’anapali system and adjust water rates accordingly. This increase in annual revenue is driven by recent upgrades to the water system infrastructure and increased operating costs. Hawaii Water, a subsidiary of California Water Service Group (NYSE: CWT), last adjusted base water rates for Ka’anapali in 2016. Among significant investments made in Hawaii Water’s Ka’anapali service area are: Upgrades to two storage tanks and reservoirs to improve water supply reliability;Two additional generators to help keep the system operating properly in the event of a power outage or shutoff; andRoutine replacement of pumping equipment. “We are committed to providing safe, clean, and reliable drinking water to our Ka’anapali customers, and fulfilling that commitment requires regular infrastructure maintenance and upgrades,” said Marty Kropelnicki, Group Chairman and CEO. “At the same time, we work hard to operate efficiently to help keep costs affordable, so that we are well-positioned to provide quality, service, and value to our customers for years to come.” In the decision, the HPUC also approved Hawaii Water’s new tiered structure for usage rates, which is designed to encourage water conservation and support affordability for lower water-using customers. New rates are effective as of April 18, 2025. About California Water Service GroupCalifornia Water Service Group is the parent company of regulated utilities California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, as well as Texas Water Service, a utility holding company. Together, these companies provide regulated and non-regulated water and wastewater service to more than 2.1 million people in California, Hawaii, New Mexico, Washington, and Texas. California Water Service Group’s common stock trades on the New York Stock Exchange under the symbol “CWT.” Additional information is available online at www.calwatergroup.com. 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 documents, 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, commits, maintains 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 or outcomes may vary materially from what is contained in a forward-looking statement. Factors, uncertainties and assumptions that may cause actual results or outcomes to be different than those expected or anticipated are described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other reports filed from time-to-time with the Securities and Exchange Commission. 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. 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 ContactYvonne Kingmanykingman@calwater.com310-257-1434

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