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Tidewater Utilities Files for Rate Adjustment
First Request for Change in Rates in over a Decade Focused on Upgrades and System Resiliency DOVER, Del., Aug. 30, 2024 (GLOBE NEWSWIRE) -- Tidewater
About this update from Middlesex Water Company
[{"type":"text","content":"First Request for Change in Rates in over a Decade Focused on Upgrades and System Resiliency\nDOVER, Del., Aug. 30, 2024 (GLOBE NEWSWIRE) -- Tidewater Utilities, Inc. (“Tidewater” or the “Company”), a wholly owned subsidiary of Middlesex Water Company (Nasdaq:MSEX) filed a request today with the Delaware Public Service Commission (PSC) for new rates in order to recover prudently incurred investments made in the last ten years to support continued regulatory compliance, enhance water quality, service reliability, security and resiliency of its water utility infrastructure assets. Since its last filing more than ten years ago, the Company has invested over $150 million in critical drinking water infrastructure improvements that are not currently reflected in customer base rates. These capital expenditures reflect construction of new and rehabilitation of existing water treatment plants, addition of standby power generation, establishment of interconnections, construction of new storage facilities and other upgrades. Specific improvements include: Construction of a 1,000,000-gallon elevated water storage tank in South Rehoboth and another 1,000,000-gallon elevated water storage tank in Millville, DE to address peak hour demand and fire protection needsConstruction and\\or enhanced treatment upgrades at several plant facilitiesInstallation of interconnections that provide redundant capacity and storage for peak demand and system resiliencyInstallation of back up generation at 30+ facilities to minimize service interruption and support plant resiliencyRegulatorily required water main realignments to support state road improvement plansInstallation of additional hydrants to provide fire protection coverage \"Ensuring safe and reliable drinking water for our customers at a reasonable cost is and continues to be our Company’s primary objective,” said Bruce E. Patrick, President of Tidewater. “Operating costs have significantly increased over the past decade and while we continue to work to control our expenses, through strategic asset planning and management, we must also upgrade our drinking water infrastructure accordingly to comply with new and ever increasing regulatory requirements, maintain the integrity of our plants, and protect our facilities against risks posed by climate impact and cybersecurity threats. These critical infras...