10:57 AM EST, 01/15/2025 (MT Newswires) -- California Water Service Group ( CWT ) said Wednesday that the California Public Utilities Commission granted its request to extend its cost of capital application by a year to May 1, 2026.

The regulator's decision to postpone the cost of capital application from May 1, 2025 allows the company's California Water Service ( CWT ) utility to maintain the current 10.27% return on equity and 4.23% cost of debt, the company said.

Chief Executive Martin Kropelnicki said the extension will help lower the frequency of rate changes for customers.

Shares of California Water Service ( CWT ) were up 2.1% in recent trading.

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