Middlesex (MSEX) Files to Increase Water Rates in New Jersey
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Middlesex Water Company, (Nasdaq: MSEX), has filed a request with the New Jersey Board of Public Utilities (BPU) for a general increase in water rates for its Middlesex system in New Jersey. The Company is requesting an increase of approximately 17.47% or, $11.3 million over current revenues, to support its ongoing capital program and to cover costs of increases in chemicals, fuel, electricity, taxes, labor, benefits and other operating and maintenance expenses.
If the increase were granted in its entirety as requested, a typical residential customer using 19,500 gallons of water per quarter would see their bill increase by $22.75 per quarter, or $0.25 per day.
If the increase were granted in its entirety as requested, a typical residential customer using 19,500 gallons of water per quarter would see their bill increase by $22.75 per quarter, or $0.25 per day.
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