SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
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Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report: November 5, 2003
MIDDLESEX WATER COMPANY
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(Exact name of registrant as specified in its charter)
NEW JERSEY O-422 22-1114430
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(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
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(Address of principal executive offices, including zip code)
(732)-634-1500
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(Registrant's telephone number, including area code)
Middlesex Water Company
Item. 5. Other Events
Filing of a Petition with the New Jersey Board of Public Utilities for Rate
increase of 17.82%, as outlined on 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.
MIDDLESEX WATER COMPANY
(Registrant)
/s/ Marion F. Reynolds
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Marion F. Reynolds
Vice President, Secretary
and Treasurer
Dated November 5, 2003
2
CONTACT:
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Bernadette Sohler, Manager of Communications (732) 634-1500
MIDDLESEX WATER COMPANY FILES FOR AN INCREASE IN RATES
CITING RISING POWER AND PURCHASED WATER COSTS
Iselin, NJ MARKET WIRE (November 5, 2003) Middlesex Water Company has filed
a request with the New Jersey Board of Public Utilities for a 17.82 percent
increase in rates. The Company, which last filed for an increase in June 2000,
is requesting an overall increase of $8,014,874 over current revenues, to cover
costs of its increased capital investment as well as maintenance and operating
expenses.
"The expense increases are largely outside the Company's control," said
Dennis G. Sullivan, President of Middlesex Water Company. "They include cost
increases in purchased power, purchased water, taxes, corporate governance
regulation and security, and are necessary for the Company to continue providing
reliable and quality water service," added Mr. Sullivan.
Middlesex Water Company provides retail water service to customers in
Woodbridge, Edison, South Plainfield, Carteret, Metuchen and South Amboy. The
Company also provides service under contract to Sayreville, the Old Bridge
Municipal Utilities Authority (MUA), the Marlboro MUA, East Brunswick, Edison
and Highland Park. The increase applies to all classes of customers, both
contract and retail.
The average household in the Company's retail service area is currently
charged $25.57 per month for 900 cubic feet or 5,980 gallons of water. The
proposed rate increase would mean a water charge of $30.09 per month for 900
cubic feet of water.
The rate proposal will next be examined by the New Jersey Board of Public
Utilities and the Division of Ratepayer Advocate, an agency representing
ratepayers. A public hearing on the matter will be held in the Company's service
area where customers are welcome to comment and voice opinions on the filing
request.
-MORE-MORE-MORE-
MIDDLESEX WATER COMPANY FILES FOR AN INCREASE IN RATES CITING RISING POWER AND
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PURCHASED WATER COSTS/2
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Middlesex Water Company, organized in 1897, is an investor-owned water
utility and is engaged in the business of supplying water for domestic,
commercial, industrial and fire protection purposes. The Company's New Jersey
subsidiaries -- Pinelands Water Company and Pinelands Wastewater Company --
provide service to residents in Southampton Township, New Jersey. The Company's
other New Jersey subsidiary, Utility Service Affiliates (Perth Amboy) Inc.,
operates the water supply for the City of Perth Amboy, New Jersey. Middlesex
Water Company and Pinelands Water and Wastewater Companies are subject to the
regulations of the New Jersey Board of Public Utilities. The companies are also
subject to various Federal and State regulatory agencies concerning water
quality standards.
For additional information regarding Middlesex Water Company, visit the
Company's website at www.middlesexwater.com or call (732) 634-1500.
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Certain matters discussed in this press release are "forward-looking statements"
regarding the Company's results of operations and financial position. They are
based on current information and expectations. Such statements address future
plans, objectives, expectations and events concerning various matters such as
capital expenditures, earnings, litigation, growth potential, rates, regulatory
matters, liquidity, capital resources and accounting matters. Actual results in
each case could differ materially from those currently anticipated in such
statements. The Company undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise.
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