California Water Service Group (CWT) said Wednesday that the California Public Utilities Commission granted its request to extend its cost of capital application by a year to May 1, 2026.

The regulator's decision to postpone the cost of capital application from May 1, 2025 allows the company's California Water Service utility to maintain the current 10.27% return on equity and 4.23% cost of debt, the company said.

Chief Executive Martin Kropelnicki said the extension will help lower the frequency of rate changes for customers.

Shares of California Water Service were up 2.1% in recent trading.

Price: 43.78, Change: +0.90, Percent Change: +2.10