The new rates are designed to allow for a 6.50% overall rate of return on invested capital on a rate base of $245.2 million. The authorized return on equity was set at 9.60%. Since 2000, Middlesex has doubled its investment in utility plant. Water for Tomorrow is expected to grow utility plant investment by 70% within five years.About Middlesex Water Company Middlesex Water Company, organized in 1897, provides water and wastewater services to approximately 110,000 regulated 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 AffairsMiddlesex Water Company(732) 638-7549|