Thursday
January 4, 2007
American States Water
Company Announces Approval by CPUC of Rate Increases
Source: Business Wire
Additionally, the CPUC approved temporary surcharges in Region I water service areas of GSWC to recover previously incurred supply costs of approximately $2,019,000 recorded in the supply cost memorandum accounts. Further, the CPUC approved a surcharge in GSWC's Region III service area to recover approximately $744,000 of discounts and costs incurred for the California Alternative Rates for Water ("CARW") Program, a program that benefits low-income customers of GSWC. All surcharges are in effect January 1, 2007. Regulatory assets have been previously established for the collection of these two items.
Certain matters discussed in this news release with regard to the Company's expectations may be forward-looking statements that involve risks and uncertainties. The assumptions and risk factors that could cause actual results to differ materially, include those described in the Company's Form 10-Q and Form 10-K filed with the Securities and Exchange Commission.
American States Water Company is
the parent of Golden State Water Company, American States Utility
Services, Inc. and Chaparral City Water Company. Through its subsidiaries,
AWR provides water service to 1 out of 30 Californians located within 75
communities throughout 10 counties in Northern, Coastal and Southern
California (approximately 254,000 customers) and to approximately 13,000
customers in the city of Fountain Hills, Arizona and a small portion of
Scottsdale, Arizona. The Company also distributes electricity to
approximately 23,000 customers in the Big Bear recreational area of
California. Through its non-regulated subsidiary, American States Utility
Services, the Company contracts with municipalities, the U.S. government
and private entities to provide various services, including billing and
meter reading, water marketing and operation and maintenance of water and
wastewater systems.
Contact:
American States Water Company
Robert J. Sprowls
Senior Vice President, Chief Financial Officer,
Treasurer and Corporate Secretary
909-394-3600, extension 647
