SJW Group Announces Deferral of San Jose Water Company's Cost of Capital Filing to May 1, 2026

Core Viewpoint - SJW Group's subsidiary, San Jose Water Company, along with three other California water utilities, has received approval from the California Public Utilities Commission to defer their 2025 Cost of Capital filings to May 1, 2026, which is a one-year postponement aimed at reducing administrative costs [1][2]. Group 1: Cost of Capital Filings - The Joint Parties initially requested a one-year postponement of their Cost of Capital filings scheduled for May 1, 2025, which was previously deferred from an original filing date of May 1, 2024 [2]. - The last Cost of Capital decision was issued on June 29, 2023, and the Joint Parties are required to file these applications every three years as per CPUC's rate case plan [2]. Group 2: Water Cost of Capital Mechanism - The Water Cost of Capital Mechanism (WCCM) will remain in effect until January 1, 2027, allowing for adjustments in the return on equity based on the Moody's Aa Utility Bond Index [3][7]. - The Water Conservation Memorandum Account (WCMA) is a temporary revenue protection mechanism due to a voluntary 15% water reduction request from San Jose Water's wholesaler [3]. Group 3: Company Overview - SJW Group is one of the largest investor-owned water and wastewater utilities in the U.S., serving nearly 1.6 million people across various states [4]. - The company emphasizes its commitment to operational investment, community engagement, and delivering sustainable value to shareholders [4].