“: Golden State Water company Receives California regulatory Approval for Rate Increases
San Francisco,CA - January 16,2026 – The California Public Utilities Commission (CPUC) has authorized full second-year rate increases for Golden State Water Company (GSWC),a subsidiary of American States Water. The decision, effective January 1, 2026, is expected to increase the company’s water revenues by approximately $32.0 million in 2026, excluding water supply costs, compared to the previous year.
This approval provides GSWC with enhanced revenue predictability for its regulated operations in the near term. The increase incorporates roughly $11.0 million related to previously agreed-upon capital investments that are now included in the 2026 rate base, allowing the company a return on thes investments.
The CPUC’s decision follows GSWC’s accomplished completion of required earnings tests across its service areas, enabling the implementation of incremental rate adjustments as outlined in the 2025-2027 rate cycle. While the regulatory decision offers a positive financial outlook,potential future changes to revenue decoupling mechanisms could introduce volatility to earnings.
Market analysts currently maintain a “sell” consensus rating for American States Water, with an average price target of $77.50.The company’s stock is currently trading in the mid-$70s, with a 52-week range of $69.45 to $82.94 (as of January 15, 2026).
Investors will be closely watching the release of the Q4 2025 earnings report, anticipated around February 18, 2026, for initial insights into the financial impact of the newly approved rates. The CPUC’s endorsement is expected to be a key factor in subsequent earnings discussions and valuation assessments.
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