California American Water submitted updated cost and financing information for the desalination facilities of the Monterey Peninsula Water Supply Project to the California Public Utilities Commission (CPUC) on 23 October. The company now estimates construction at USD 825 million. It cites long permitting, litigation and higher labour and material costs. Low-cost financing and an adjusted ratemaking treatment are meant to cut the burden on customers by USD 588 million over 40 years. The CPUC approved the project in 2018.
Eight years lie between approval and the new estimate. How much costs have risen cannot be read from the release: it gives no comparison figure.
Source: American Water, press release