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: October 30, 2007
MIDDLESEX
WATER COMPANY
(Exact
name of registrant as specified in its charter)
|
NEW
JERSEY
|
0-422
|
22-1114430
|
|
(State
or other jurisdiction of
|
(Commission
|
(I.R.S.
Employer
|
|
incorporation
or organization)
|
File
Number)
|
Identification
No.)
|
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:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o 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
that effective October 26, 2007, Middlesex Water Company has received approval
from the New Jersey Board of Public Utilities for a 9.1%, or $5.0 million
increase in its base rates on an interim basis subject to refund, as set forth
in the attached press release.
Section
9
– Financial Statements and Exhibits
Item
9.01 – (d) Exhibits
Press
release dated October 30, 2007 announcing that effective October 26, 2007,
Middlesex Water Company has received approval from the New Jersey Board of
Public Utilities for a 9.1%, or $5.0 million increase in its base rates on
an
interim basis subject to refund.
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.
|
MIDDLESEX
WATER COMPANY
|
|
|
(Registrant)
|
|
|
s/Kenneth
J. Quinn
|
|
|
Kenneth
J. Quinn
|
|
|
Vice
President, General Counsel,
|
|
|
Secretary
and Treasurer
|
Dated: October
30, 2007
2
MIDDLESEX
WATER RECEIVES BPU APPROVAL FOR
RATE
INCREASE
ISELIN,
NJ (October 30, 2007) Middlesex Water
Company (NASDAQ Global Select Market: MSEX), a provider of
water, wastewater and related services, has announced it
has received approval from the New Jersey Board of Public Utilities (BPU) for
a
9.1%, or $5.0 million overall increase in base water rates on an interim basis.
The rate increase, resulting from a settlement among the parties to the
proceeding, has been categorized as “interim” until one of the intervening
municipal utilities authorities in the matter formally acts on this settlement
agreement at their next scheduled public meeting. The rate increase is effective
October 26, 2007.
Middlesex
Water filed a request for an overall increase of approximately 16.5% or $8.9
million over current revenues in April 2007. The request is designed
to support its ongoing capital program and to cover costs of increases in
operations, maintenance, labor and benefits, purchased power, taxes, corporate
governance regulation and security. Under the new interim rates, the
average residential bill for a customer using 2,600 cubic feet (19,448 gallons)
of water per quarter, would increase from $89.37 to $98.20, an increase of
$8.83, or approximately 9.9%.
“We
are
pleased with this outcome, which was achieved through the cooperation of the
various parties, well in advance of our initial estimated effective
date. Providing a safe, plentiful and reliable water supply to the
nearly 400,000 people in our combined retail and wholesale customer base
requires ongoing and prudent infrastructure investments,” said Dennis W. Doll,
President and CEO. “Obtaining timely and adequate recovery of those costs
enables us to continue delivering quality for our customers,” he
added.
Middlesex
Water Company, the largest entity in the Middlesex consolidated group of
companies, presently serves retail customers in the Townships of Woodbridge,
Edison, the Borough of South Plainfield, Carteret, Metuchen, the City of South
Amboy, and the Township of Clark. The Company serves a significant population
through wholesale contracts with the Boroughs of Highland Park and Sayreville,
the Old Bridge Municipal Utilities Authority (MUA), the Marlboro Township MUA
and the Township of East Brunswick.
About
Middlesex Water Company
Middlesex
Water Company, organized in 1897, is a water utility serving customers in
central and southern New Jersey and in the State of Delaware. Headquartered
in
Iselin, NJ, Middlesex Water is subject to various Federal and State regulatory
agencies concerning water quality standards.
For
additional information regarding Middlesex Water Company, visit the Company’s
web site at www.middlesexwater.com or call (732) 634-1500.
This
release contains forward looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including, among
others, our long-term strategy and expectations, the status of our
acquisition program, the impact of our acquisitions, the impact of current
and
projected rate requests and the impact of our capital program on our
environmental compliance. There are important factors that could cause actual
results to differ materially from those expressed or implied by such
forward-looking statements including: general economic business conditions,
unfavorable weather conditions, the success of certain
cost containment initiatives, changes in regulations or regulatory
treatment, availability and the cost of capital, the success of growth
initiatives and other factors discussed in our filings with the Securities
and
Exchange Commission.
###
|
Contact:
Bernadette Sohler,
Vice
President – Corporate Affairs
(732)
634-1500
|
####