Middlesex Water Company (MSEX) has released an update.
Middlesex Water Company has been granted a significant 14.06% increase in its base water rates by the New Jersey Board of Public Utilities, effective from March 1, 2024. This adjustment will enable the company to achieve a 6.64% overall rate of return on a rate base of $563 million, with the return on equity set at 9.6%. The approval negates the need for the provisional rates that were slated to start on February 15, 2024.
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