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Securities law

Global Water Resources, Inc. Files Form 8-K: Rate Case Update

Strategic Insights

— 2 min read

Global Water Resources, Inc. filed a Form 8-K with the U.S. Securities and Exchange Commission on October 16, 2025, providing an update on the rate case filed by its subsidiaries Global Water - Santa Cruz Water Company, Inc. and Global Water - Palo Verde Utilities Company, Inc. with the Arizona Corporation Commission. The rate case applications seek increased rates, which would result in a net annual revenue increase of approximately $6.5 million, an 11% increase in the total median monthly aggregate bill for customers, and an adjusted rate base of approximately $164.6 million.

Key Takeaways:

  • Two of Global Water Resources, Inc.'s subsidiaries, Global Water - Santa Cruz Water Company, Inc. and Global Water - Palo Verde Utilities Company, Inc., filed a rate case application with the Arizona Corporation Commission on March 5, 2025.
  • The rate case applications seek increased rates, which would result in a net annual revenue increase of approximately $6.5 million, an 11% increase in the total median monthly aggregate bill for customers, and an adjusted rate base of approximately $164.6 million.
  • The ACC Staff recommended, among other things, a net annual revenue decrease of approximately $7.1 million and an adjusted rate base of approximately $78.7 million while RUCO recommended, among other things, a net annual revenue increase of approximately $3.0 million and an adjusted rate base of approximately $156.6 million.
  • The Company intends to use the rebuttal, surrebuttal, and rejoinder process to reconcile differences between the GW-Utilities' rate case applications and the ACC Staff's and RUCO's initial testimony.
  • A hearing with the Administrative Law Judge ("ALJ") is scheduled to begin December 15, 2025; the ALJ will issue a Recommended Opinion and Order ("ROO"), and the ACC will vote on it at a later date, both expected in the first half of 2026.
  • Unfavorable ACC Staff and intervenor positions and recommendations could have a material adverse impact on the Company's financial condition, results of operations, and cash flows.
  • The rate case applications and initial testimonies are available on the ACC website at edocket.azcc.gov.
  • Cautionary Note Regarding Forward-Looking Statements: The forward-looking statements involve a number of assumptions, risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in the forward-looking statements.

Statistics:

  • Approximately $6.5 million net annual revenue increase.
  • Approximately 11% increase in the total median monthly aggregate bill for customers.
  • Approximately $164.6 million adjusted rate base.
  • October 1, 2025: ACC Staff and RUCO filed their initial written testimonies with the ACC in the rate case.
  • October 14, 2025: The Company had discussions with the ACC Staff regarding their initial recommendations.
  • November 6, 2025: The GW-Utilities' rebuttal testimony is due.
  • December 1, 2025: Surrebuttal testimony from ACC Staff and RUCO is due.
  • December 10, 2025: Rejoinder testimony from the GW-Utilities is due.
  • December 15, 2025: A hearing with the Administrative Law Judge ("ALJ") is scheduled to begin.

Sources:

  • Filed a Form 8-K with the U.S. Securities and Exchange Commission on October 16, 2025.
  • Available on the ACC website at edocket.azcc.gov.
  • Rate case applications and initial testimonies available on the ACC website at edocket.azcc.gov.
  • Company's filings with the Securities and Exchange Commission, including the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings with the SEC.

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