UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report: September 15, 2011
MIDDLESEX WATER COMPANY
(Exact name of registrant as specified in its charter)
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NEW JERSEY
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0-422
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22-1114430
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(State or other jurisdiction of
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(Commission
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(I.R.S. Employer
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incorporation or organization)
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File Number)
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Identification No.)
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1500 RONSON ROAD, P.O. BOX 1500, ISELIN, NEW JERSEY 08830
(Address of principal executive offices, including zip code)
(732)-634-1500
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item. 8.01. Other Events
Announcement regarding Tidewater Utilities, Inc., a subsidiary of Middlesex Water Company, filing petition on September 15, 2011 for an increase in rates as set forth in the attached press release.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf of the undersigned hereunto duly authorized.
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MIDDLESEX WATER COMPANY
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(Registrant)
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s/A. Bruce O’Connor
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A. Bruce O’Connor
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Vice President and Chief Financial Officer
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Dated: September 15, 2011
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TIDEWATER UTILITIES FILES FOR RATE INCREASE
DOVER, DELAWARE – September 15, 2011 – Tidewater Utilities, Inc. (Tidewater) has filed a request with the Delaware Public Service Commission (PSC) for an increase in base water rates -- an overall request of $6.9 million over current revenues -- to cover costs of increased capital investment as well as increased operations and maintenance expenses since a rate adjustment was last requested in January 2009.
Since the 2009 rate filing, Tidewater has invested $14.9 million to upgrade or replace aging infrastructure and make improvements to ensure the continued reliability of drinking water and fire protection services. Such improvements not only help ensure continued reliability of service but also provide for additional supplies of water and address regulatory requirements.
The Company plans to invest $8.4 million of additional infrastructure upgrades through March 31, 2012. The company’s capital program includes distribution system replacements and fire protection projects, as well as upgrades to production facilities to further meet regulatory requirements.
Tidewater is proposing that interim rates be implemented effective sixty days after the filing of the request, subject to refund based on the final outcome of this proceeding. Any remaining increase that may be awarded by the PSC would become effective when the final decision is rendered by the PSC. The interim increase request amounts to 10.89%. If the full request is granted, a customer using a 5/8” water meter with water consumption of 15,000 gallons of water per quarter would see their quarterly bill increase from $160.13 to $210.56.
Tidewater operates over 86 water plants and 162 wells throughout Delaware and in 2010 delivered more than 2.1 billion gallons of drinking water throughout its service area, which extends from lower New Castle County in the north of Delaware to Sussex County near the state's southern border with Maryland. Tidewater Utilities is the largest private water supplier south of the Chesapeake & Delaware Canal.
The Delaware Public Service Commission will next examine the rate proposal. Public hearings on the matter will be held in the Company’s service area where customers are welcome to comment on the filing request.
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Contact:
Gerard L. Esposito, President
Tidewater Utilities, Inc. (302) 734-7500
or Bernadette Sohler, Vice President – Corporate Affairs
Middlesex Water Company (732) 638-7549