Global Water Resources, Inc. 8-K

What Happened

• Global Water Resources, Inc. (GWRS) reported that two regulated subsidiaries—Global Water – Santa Cruz Water Company, Inc. (GW‑Santa Cruz) and Global Water – Palo Verde Utilities Company, Inc. (GW‑Palo Verde)—originally filed rate case applications with the Arizona Corporation Commission (ACC) on March 5, 2025.
• After initial testimony filings by the ACC Utilities Division and RUCO on October 1, 2025, the parties filed a Notice of Settlement and Request to Modify Procedural Schedule on April 14, 2026. The parties agreed to bifurcate the proceedings: GW‑Santa Cruz’s rate case has settled; GW‑Palo Verde will move to withdraw its application and intends to refile a rate case in 2027 using a 2026 test year. GW‑Palo Verde also will seek authorization to increase a customer bill credit related to the Company’s Southwest Plant (originally approved in ACC Decision No. 79424).
• The company expects the settlement agreement to be filed with the ACC on April 28, 2026 and settlement testimony on May 22, 2026. The filing is dated April 15, 2026 and signed by CFO Michael J. Liebman.

Key Details

• March 5, 2025: GW‑Santa Cruz and GW‑Palo Verde filed separate rate case applications with the ACC.
• October 1, 2025: ACC Utilities Division and RUCO filed initial written testimonies; parties exchanged rebuttal/surrebuttal/rejoinder filings thereafter.
• April 14, 2026: Parties filed Notice of Settlement and Request to Modify Procedural Schedule to bifurcate the cases.
• GW‑Palo Verde plans to withdraw and refile in 2027 using a 2026 test year; will seek an increased Southwest Plant customer bill credit tied to ACC Decision No. 79424.

Why It Matters

• Rate case outcomes directly affect the company’s regulated revenue and customer billing. Settlement of GW‑Santa Cruz could provide earlier clarity on allowed rates and cash flow for that subsidiary.
• GW‑Palo Verde’s planned withdrawal delays any rate decision for that utility to a refiled case in 2027, postponing potential revenue changes and regulatory resolution. The request to increase the Southwest Plant bill credit could affect customer bills and how costs are recovered.
• The 8‑K includes forward‑looking statements and timelines; investors should monitor the ACC docket for the April 28 and May 22, 2026 filings and future ACC decisions for material financial impact.