Tidewater Utilities Files for Rate Adjustment
30 Agosto 2024 - 5:25PM
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 needs
- Construction andor enhanced treatment upgrades at several plant
facilities
- Installation of interconnections that provide redundant
capacity and storage for peak demand and system resiliency
- Installation of back up generation at 30+ facilities to
minimize service interruption and support plant resiliency
- Regulatorily required water main realignments to support state
road improvement plans
- Installation 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
infrastructure investments made over the past decade protect public
health, support fire protection and overall quality of life in the
communities we serve,” added Patrick.
Tidewater is seeking a total annual revenue increase of
approximately $10.3 million. The rate request will be reviewed by
the PSC and Division of the Public Advocate. If the rate increase
request is approved in its entirety, the water bill for an average
residential customer with usage of 5,000 gallons of water per
month, would increase about $13.97 per month.
About Tidewater Utilities, Inc. Celebrating its
60th year of service to Delawareans, Tidewater Utilities, Inc.
serves as a trusted provider of life-sustaining high quality water
service for residential, commercial, and fire protection purposes.
We invest in our people, our infrastructure, and the
communities we serve to support reliable and resilient utility
services, economic growth and quality of life.
Tidewater is the largest private water supplier south of the
Chesapeake & Delaware Canal in Delaware. The Company operates
175 active wells and 85 active water plants to serve approximately
57,800 customers and 800 commercial establishments in 470 separate
communities in New Castle, Kent and Sussex County, DE.
Contact:Bernadette Sohler, Vice President –
Corporate AffairsMiddlesex Water
Companybsohler@middlesexwater.com
Middlesex Water (NASDAQ:MSEX)
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