UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item. 8.01. Other Events
Announcement that on February 14, 2024, Middlesex Water Company received approval from the New Jersey Board of Public Utilities of a $15.4 million or 14.06% increase in its base water rates effective March 1, 2024. The new rates are designed to allow for a 6.64% overall rate of return on invested capital on rate base of $563 million. The return on equity portion of the rate of return was set at 9.6%. As a result of the NJBPU’s approval of the rate increase, Middlesex will not implement provisional rates which, in the absence of a NJBPU Order, were previously scheduled to go into effect on February 15, 2024.
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/A. Bruce O’Connor | |
| A. Bruce O’Connor | |
| Sr. Vice President, Treasurer and | |
| Chief Financial Officer |
Dated: February 16, 2024