11:06 AM EDT, 03/11/2024 (MT Newswires) -- California Water Service Group ( CWT ) said Monday that the California Public Utilities Commission issued a decision last week on the 2021 General Rate Case and Infrastructure Improvement Plan for its California Water Service ( CWT ) subsidiary, marking the end of an extensive review of the utility's water system improvement plans, costs, and rates.

The regulator's decision raises adopted revenue for 2023 by about $39.2 million, retroactive to Jan. 1, 2023, and increases revenue by up to $32.2 million for 2024 and $31.7 million for 2025, subject to adjustments, the company said.

California Water Service ( CWT ) can also now invest about $1.21 billion from 2021 through 2024 in water system infrastructure projects, the company said.

Shares of California Water Service Group rose more than 2% in recent trading.

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