Citizens Energy board approves FY2026 budget, executive-pay adjustments, capital contributions and multiple finance items

The Citizens Energy Group and CWA Authority board on Aug. 20 approved a package of financial and administrative measures, including the fiscal year 2026 budget and 2025–2030 forecast, executive compensation adjustments, capital contributions among business units, and several routine operating resolutions.

Budget and forecast: The Compensation and Finance Committee presented the proposed FY2026 budget and five‑year (2025–2030) forecast and recommended board approval. Committee materials described planned capital spending increases to support safety and reliability investments, growth opportunities and water‑supply projects. The committee reported that aggregate debt across the enterprise is projected to remain at $2,800,000,000 throughout the forecast period and that debt‑service coverage ratios remain consistent with A‑plus or higher ratings, as presented. The board approved the budget and forecast by voice vote.

Customer benefit distribution and rate change: The board approved a customer benefit distribution for 2026 that committee materials said would reflect a gas-rate decrease in the amount of $410,000, as presented in board materials.

Capital contributions and financing authority: The board approved management recommendations for capital contributions to Citizens Resources: up to…