Company: MSEX
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001174947-25-001119
Chunk: 78

Company: MIDDLESEX WATER CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 8
Chunk 78
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 of the date of this report. The Company does not undertake any obligation to
release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date of this report or
to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

For an additional discussion of factors that may affect
the Company’s business and results of operations, see Item 1A. - Risk Factors in the Company’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2024.

Overview

Middlesex Water Company (Middlesex or the Company)
has operated as a water utility in New Jersey since 1897 and in Delaware through our wholly-owned subsidiary, Tidewater Utilities, Inc.
(Tidewater), since 1992. We are in the business of collecting, treating and distributing water for domestic, commercial, municipal, industrial
and fire protection purposes. We operate water and wastewater systems under contract for governmental entities and private entities primarily
in New Jersey and Delaware and provide regulated wastewater services in New Jersey. We are regulated by state public utility commissions
as to rates charged to customers for water and wastewater services, as to the quality of water and wastewater service we provide and as
to certain other matters in the states in which our regulated subsidiaries operate. Only our Utility Service Affiliates, Inc. (USA), Utility
Service Affiliates (Perth Amboy), Inc. (USA-PA) and White Marsh Environmental Services, Inc. (White Marsh) subsidiaries are not regulated
public utilities as related to rates and services quality. All municipal or commercial entities whose utility operations are managed by
these entities, however, are subject to environmental regulation at the federal and state levels.

Our principal New Jersey water utility system (the
Middlesex System) provides water services to approximately 61,000 retail customers, primarily in central New Jersey. The Middlesex System
also provides water sales under contract to municipalities in central New Jersey with a total population of over 0.2 million. Our other
New Jersey subsidiaries, Pinelands Water Company (Pinelands Water) and Pinelands Wastewater Company (Pinelands Wastewater) (collectively,
Pinelands) provide water and wastewater services to approximately 2,500 customers in Southampton Township, New Jersey.

Our Delaware subsidiaries, Tidewater and Southern
Shores Water Company, LLC, provide water services to approximately 64,000 retail customers in New Castle, Kent and Sussex Counties