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San Jose Water Issues Statement Regarding California Public Utilities Commission’s Order Instituting Investigation about Past Billing Practice Used in Implementing Service Charge Rate Changes

September 17, 2018

SAN JOSE, Calif.--(BUSINESS WIRE)--Sep 17, 2018--San Jose Water Company (“San Jose Water”), a wholly owned subsidiary of SJW Group (“SJW”) (NYSE: SJW), issued the following statement in response to the California Public Utilities Commission’s (“CPUC”) recently issued Order Instituting Investigation (I.) 18-09-003 into San Jose Water’s past billing practice used in implementing service charge rate changes:

“We appreciate the effort and time of the CPUC in issuing its Order Instituting Investigation (OII) on September 14, 2018 regarding our past billing practice. As soon as SJW was informed about a potential billing issue in early 2017, we took immediate voluntary actions to investigate and review our billing policies, and we subsequently updated our billing practice to better serve our customers, with our new billing policies retroactively effective as of January 1, 2017. We also worked with the CPUC to propose refunds to our metered-service customers for the period from 2014 through 2016.

“We have since been working cooperatively with various departments at the CPUC to answer their questions about our past billing practice and potential remedial measures. While our past billing practice was in compliance with the rules as we interpreted them at that time, we also recognize that different interpretations may apply – and have since voluntarily updated our billing policies to reflect a more customer-oriented interpretation.”

Eric W. Thornburg, SJW’s Chairman, President and Chief Executive Officer and San Jose Water’s Chairman and Chief Executive Officer, said: “We are entrusted by our customers to provide them with safe and reliable water each and every day, and we are equally committed to earning their trust in our billing practices. Our actions since this matter was first brought to our attention in early 2017 clearly demonstrate our continuous efforts to cooperate with the CPUC and reach a fair resolution for our customers. We will continue to do everything that we can to further assist the CPUC on behalf of our customers.”

About SJW Group

SJW Group is a publicly traded holding company, headquartered in San Jose, California. SJW Group is the parent company of San Jose Water, SJWTX, Inc., and SJW Land Company. Together, San Jose Water and SJWTX, Inc., operating as Canyon Lake Water Service Company in Texas, provide service to more than 1,000,000 customer in San Jose and its surrounding communities in California and Canyon Lake and Deer Creek Ranch and their surrounding communities in Texas. SJW Land Company owns and operates commercial real estate investments.

Forward-Looking Statements

This press release may contain certain forward-looking statements including, but not limited to, statements relating to SJW Group’s plans, strategies, objectives, expectations and intentions, which are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements also include statements relating to the outcome of the CPUC’s order and investigation. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of SJW Group to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Other factors that may cause actual results, performance or achievements to materially differ are described in SJW Group’s most recent reports on Form 10-K, Form 10-Q and Form 8-K filed with the Securities and Exchange Commission. SJW Group undertakes no obligation to publicly update or revise any forward- looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180917005322/en/

CONTACT: Media:

SJW Group

Jayme Ackemann

Director, Corporate Communications

(408) 918-7247

jayme.ackemann@sjwater.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: ENERGY OIL/GAS UTILITIES OTHER ENERGY PROFESSIONAL SERVICES FINANCE

SOURCE: SJW Group

Copyright Business Wire 2018.

PUB: 09/17/2018 08:30 AM/DISC: 09/17/2018 08:30 AM

http://www.businesswire.com/news/home/20180917005322/en

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