Phoenix, Ariz.— On July 2, 2026, at the direction and authorization of Chairman Nick Myers, the Arizona Corporation Commission issued and served a subpoena on JW Water Holdings. The subpoena requested information regarding JW Holdings’ purchase of utilities since 2022, which would include Picacho Water and Picacho Sewer.

After the execution of a protective agreement, the Company responded to the subpoena on July 20 providing the purchase prices of Picacho Water and Picacho Sewer. A redacted version of the document was docketed in Docket Nos. W-03528A-25-0056, SW-03709A-25-0057, W-03528A-25-0096, and SW-03709A-25-0097.

Chairman Myers confirmed that JW Water Holdings’ stock purchase prices for Picacho Water and Picacho Sewer were above the book value and therefore not included in, nor relevant to, the rates set in Decision No. 81674 (March 10, 2026).  

“I can confirm that the purchase price was more than the utilities’ rate bases and was not included in the rates that were set,” stated Chairman Myers. “In my opinion, this affirms the Commission’s recent rate case decision. After seeing the purchase price, I see no factual basis for the Commission to have considered a negative adjustment to rate base and no reason for the Commission to revisit its decision.”  

For more information, please contact Chairman Myers at myers-web@azcc.gov.