California public utilities commission adopts cost of capital proposed decision setting california water service's return on equity

San jose, calif., july 03, 2023 (globe newswire) -- (nyse: cwt) -- the california public utilities commission has approved the proposed decision issued in the cost of capital application for california water service (cal water) and three other utilities from july 2023 through the end of 2024. the decision originally established a 9.05% return on equity and 4.23% cost of debt for cal water, with a capital structure of 53.40% common equity and 46.60% long-term debt, and an authorized rate of return of 6.80%, effective july 31, 2023.
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