
	Three Months Ended June 30,				Six Months Ended June 30,
(dollars in thousands)	2025		2024		2025		2024
Water:
Tariff-based revenues	$	117,240	$	96,065	$	217,571	$	180,726
CPUC-approved surcharges (cost-recovery activities)	1,756		912		2,561		1,459
Other	689		668		1,300		1,250
Water revenues from contracts with customers	119,685		97,645		221,432		183,435
M-WRAM/WRAM under/(over)-collection (alternative revenue programs) (1)	12		12,779		268		17,254
Total water revenues	119,697		110,424		221,700		200,689

Electric:
Tariff-based revenues	11,780		8,866		25,513		21,539
CPUC-approved surcharges (cost-recovery activities)	1,384		29		1,427		103
Electric revenues from contracts with customers	13,164		8,895		26,940		21,642
BRRAM under/(over)-collection (alternative revenue program)	(236)		(192)		990		(734)
Total electric revenues	12,928		8,703		27,930		20,908

Contracted services:
Water	14,398		21,603		31,010		43,170
Wastewater	16,043		14,598		30,439		25,812
Contracted services revenues from contracts with customers	30,441		36,201		61,449		68,982

Total AWR revenues	$	163,066	$	155,328	$	311,079	$	290,579

(1) On January 30, 2025, the CPUC issued a final decision in connection with GSWC’s general rate case (“GRC”) that adopted a settlement agreement between GSWC and Cal Advocates and set new rates for 2025 – 2027, with rates retroactive to January 1, 2025. The final decision rejected GSWC’s request for the continuation of the WRAM, and instead orders GSWC to transition to a modified rate adjustment mechanism (a Monterey-style WRAM or “M-WRAM”). The M-WRAM tracks the difference between the revenue based on actual metered sales through a tiered volumetric rate and the revenue that would have been received with the same actual metered sales if a standard quantity rate had been in effect. During the three and six months ended June 30, 2025, the balances recorded in the new M-WRAM were not material.