Company: MSEX
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001174947-25-001119
Chunk: 84

Company: MIDDLESEX WATER CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 8
Chunk 84
---
ulated  
    Total 
  
    Operating Revenues 
    $87,660  
    $5,964  
    $93,624  
    $83,289  
    $6,381  
    $89,670 
  
    Operations and Maintenance Expense 
     40,288  
     3,887  
     44,175  
     38,023  
     4,267  
     42,290 
  
    Depreciation 
     13,102  
     128  
     13,230  
     11,568  
     133  
     11,701 
  
    Other Taxes 
     10,626  
     124  
     10,750  
     10,383  
     116  
     10,499 
  
    Operating Income 
     23,644  
     1,825  
     25,469  
     23,315  
     1,865  
     25,180 

    Other Income, net 
     3,603  
     93  
     3,696  
     7,912  
     109  
     8,021 
  
    Interest Charges 
     6,336  
     —  
     6,336  
     7,310  
     —  
     7,310 
  
    Income Taxes Expense (Benefit) 
     1,960  
     611  
     2,571  
     4,040  
     623  
     4,663 
  
    Net Income 
    $18,951  
    $1,307  
    $20,258  
    $19,877  
    $1,351  
    $21,228 

Operating Revenues

Operating revenues for the six months ended June 30,
2025 increased $4.0 million from the same period in 2024 due to the following factors:

●Middlesex System revenues increased $3.1 million due to the base rate increase effective March 1, 2024
and increased DSIC and LSL Recovery rate increases (see Note 2, Rate and Regulatory Matters) partially offset by less customer
consumption driven by unfavorable weather;

●Tid