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Regulatory Matters | 9 Months Ended
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Sep. 30, 2025
Regulated Operations [Abstract] |
Regulatory Matters | Regulatory Matters Recent ACC Rulings and Activity 2025 GW-Santa Cruz and GW-Palo Verde Rate Case On March 5, 2025, GW-Santa Cruz and GW-Palo Verde (collectively, the “GW-Utilities”) each filed a general rate case application with the ACC for water and wastewater rates, respectively. The GW-Santa Cruz and GW-Palo Verde rate case is based on a test year ending December 31, 2024, with updates for changes in post-test year plant. On October 1, 2025, the ACC Utilities Division (“ACC Staff”) and RUCO filed their respective initial written testimonies with the ACC in the rate case. The GW-Utilities provided their rebuttal testimony on November 6, 2025. Surrebuttal testimony from ACC Staff and RUCO is due December 1, 2025, and rejoinder testimony from the GW-Utilities is due December 10, 2025. A hearing with the ALJ is scheduled to begin December 15, 2025, after which the ALJ will issue a ROO that the ACC will vote on at a later date. Both the ROO and the ACC vote are anticipated in the first half of 2026. 2024 GW-Farmers Rate Case - Decision No. 80695 - Issued April 29, 2025 On June 27, 2024, GW-Farmers filed a rate case application with the ACC for increased water rates based on a 2023 test year, with updates for changes in post-test year plant through December 31, 2024. On April 29, 2025, the ACC approved GW-Farmers’ rate case application in Decision No. 80695. Among other approvals, Decision No. 80695 approved an increase in GW-Farmers’ annual revenue requirement of $1.1 million and a return on equity of 9.6%, with increased rates to be phased-in over three periods. 50% of the increase was effective on May 1, 2025, with another 25% effective on November 1, 2025. The final 25% increase will be phased in on May 1, 2026. In addition to the rate increase, Decision No. 80695 also approved a deferral of the recovery of an acquisition premium of approximately $3 million related to the Company’s acquisition of GW-Farmers, which the Company recorded as of March 31, 2025. Decision No. 80695 calls for the acquisition premium to be recovered in a future rate case, subject to the GW-Farmers utility being found viable by the ACC. Refer to Note 8 – “Goodwill” for additional information. 2022 GW-Saguaro Rate Case - Decision No. 79383 - Issued June 20, 2024 On June 20, 2024, the ACC issued Decision No. 79383, which related to each of the rate case applications filed by seven of the Company’s regulated water utilities for increased water rates based on a 2022 test year. Decision No. 79383 approved, among other things, a collective annual revenue increase of approximately $351,000. The approved rates are being phased-in over five periods with the first increase effective July 1, 2024. The subsequent four increases will be effective on January 1 of each subsequent year. The majority of the revenue increase was phased in on January 1, 2025.

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