----

----

| þ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|-----------------------------------------------------------------------------------------|

|  ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|------------------------------------------------------------------------------------------|

| New Jersey(State of incorporation) | 22-1114430(IRS employer identification no.) |
|------------------------------------|---------------------------------------------|

----

D

| PART I.    | FINANCIAL INFORMATION                                                                 | PAGE   |
|------------|---------------------------------------------------------------------------------------|--------|
|       |                                                                                  |   |
| Item 1.    | Financial Statements:                                                                 |   |
|       |                                                                                  |   |
|       | Condensed Consolidated Statements of Income                                           | 1      |
|       |                                                                                  |   |
|       | Condensed Consolidated Balance Sheets                                                 | 2      |
|       |                                                                                  |   |
|       | Condensed Consolidated Statements of Cash Flows                                       | 3      |
|       |                                                                                  |   |
|       | Condensed Consolidated Statements of Capital Stock and Long-term Debt                 | 4      |
|       |                                                                                  |   |
|       | Notes to Unaudited Condensed Consolidated Financial Statements                        | 5      |
|       |                                                                                  |   |
| Item 2.    | Management's Discussion and Analysis of Financial Condition and Results of Operations | 11     |
|       |                                                                                  |   |
| Item 3.    | Quantitative and Qualitative Disclosures of Market Risk                               | 17     |
|       |                                                                                  |   |
| Item 4.    | Controls and Procedures                                                               | 18     |
|       |                                                                                  |   |
| PART II.   | OTHER INFORMATION                                                                     |   |
|       |                                                                                  |   |
| Item 1.    | Legal Proceedings                                                                     | 19     |
|       |                                                                                  |   |
| Item 1A.   | Risk Factors                                                                          | 19     |
|       |                                                                                  |   |
| Item 2.    | Unregistered Sales of Equity Securities and Use of Proceeds                           | 19     |
|       |                                                                                  |   |
| Item 3.    | Defaults upon Senior Securities                                                       | 19     |
|       |                                                                                  |   |
| Item 4.    | Removed and Reserved                                                                  | 19     |
|       |                                                                                  |   |
| Item 5.    | Other Information                                                                     | 19     |
|       |                                                                                  |   |
| Item 6.    | Exhibits                                                                              | 19     |
|       |                                                                                  |   |
| SIGNATURES | 20                                                                                    |

----

Index

|  MIDDLESEX WATER COMPANY               |
|---------------------------------------------|
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME |
| (Unaudited)                                 |
| (In thousands except per share amounts)     |
|                                        |   |   |   |   |   |

|                                                     |   | Three Months Ended March 31, |   |
|----------------------------------------------------------|--------|------------------------------|--------|
|                                                     |   | 2011                         |   |   | 2010 |   |
|                                                     |   |                         |   |   |   |   |
| Operating Revenues                                       |   | $                            | 23,996 |   |   | $ | 21,645 |   |
|                                                     |   |                         |   |   |   |   |   |   |
| Operating Expenses:                                      |   |                         |   |   |   |   |   |   |
| Operations and Maintenance                               |   |                         | 14,031 |   |   |   | 13,594 |   |
| Depreciation                                             |   |                         | 2,412  |   |   |   | 2,204 |   |
| Other Taxes                                              |   |                         | 2,785  |   |   |   | 2,559 |   |
|                                                     |   |                         |   |   |   |   |   |   |
| Total Operating Expenses                                 |   |                         | 19,228 |   |   |   | 18,357 |   |
|                                                     |   |                         |   |   |   |   |   |   |
| Operating Income                                         |   |                         | 4,768  |   |   |   | 3,288 |   |
|                                                     |   |                         |   |   |   |   |   |   |
| Other Income (Expense):                                  |   |                         |   |   |   |   |   |   |
| Allowance for Funds Used During Construction             |   |                         | 194    |   |   |   | 294 |   |
| Other Income                                             |   |                         | 157    |   |   |   | 170 |   |
| Other Expense                                            |   |                         | (49    | ) |   |   | (17 | ) |
|                                                     |   |                         |   |   |   |   |   |   |
| Total Other Income, net                                  |   |                         | 302    |   |   |   | 447 |   |
|                                                     |   |                         |   |   |   |   |   |   |
| Interest Charges                                         |   |                         | 1,214  |   |   |   | 1,424 |   |
|                                                     |   |                         |   |   |   |   |   |   |
| Income before Income Taxes                               |   |                         | 3,856  |   |   |   | 2,311 |   |
|                                                     |   |                         |   |   |   |   |   |   |
| Income Taxes                                             |   |                         | 1,226  |   |   |   | 751 |   |
|                                                     |   |                         |   |   |   |   |   |   |
| Net Income                                               |   |                         | 2,630  |   |   |   | 1,560 |   |
|                                                     |   |                         |   |   |   |   |   |   |
| Preferred Stock Dividend Requirements                    |   |                         | 52     |   |   |   | 52 |   |
|                                                     |   |                         |   |   |   |   |   |   |
| Earnings Applicable to Common Stock                      |   | $                            | 2,578  |   |   | $ | 1,508 |   |
|                                                     |   |                         |   |   |   |   |   |   |
| Earnings per share of Common Stock:                      |   |                         |   |   |   |   |   |   |
| Basic                                                    |   | $                            | 0.17   |   |   | $ | 0.11 |   |
| Diluted                                                  |   | $                            | 0.17   |   |   | $ | 0.11 |   |
|                                                     |   |                         |   |   |   |   |   |   |
| Average Number of Common Shares Outstanding:             |   |                         |   |   |   |   |   |   |
| Basic                                                    |   |                         | 15,576 |   |   |   | 13,538 |   |
| Diluted                                                  |   |                         | 15,839 |   |   |   | 13,801 |   |
|                                                     |   |                         |   |   |   |   |   |   |
| Cash Dividends Paid per Common Share                     |   | $                            | 0.1825 |   |   | $ | 0.1800 |   |
|                                                     |   |                         |   |   |   |   |   |   |
|                                                     |   |                         |   |   |   |   |   |   |
| See Notes to Condensed Consolidated Financial Statements |   |                         |   |   |   |

----

Index

| MIDDLESEX WATER COMPANY                          |
|--------------------------------------------------|
| CONDENSED CONSOLIDATED  BALANCE SHEETS |
| (Unaudited )                                     |
| (In thousands)                                   |

|                                                      |                                                 |   | March 31, |    |   | December 31, |   |
|-----------------------------------------------------------|------------------------------------------------------|--------|-----------|---------|--------|--------------|--------|
| ASSETS                                                    |                                                 |   | 2011      |    |   | 2010         |   |
| UTILITY PLANT:                                            | Water Production                                     |   | $         | 119,040 |   |         | $      | 118,919 |   |
|                                                      | Transmission and Distribution                        |   |      | 310,413 |   |         |   | 308,468 |   |
|                                                      | General                                              |   |      | 44,485  |   |         |   | 44,368 |   |
|                                                      | Construction Work in Progress                        |   |      | 15,277  |   |         |   | 11,715 |   |
|                                                      | TOTAL                                                |   |      | 489,215 |   |         |   | 483,470 |   |
|                                                      | Less Accumulated Depreciation                        |   |      | 86,810  |   |         |   | 84,737 |   |
|                                                      | UTILITY PLANT - NET                                  |   |      | 402,405 |   |         |   | 398,733 |   |
|                                                      |                                                 |   |      |    |   |         |   |   |   |
| CURRENT ASSETS:                                           | Cash and Cash Equivalents                            |   |      | 3,796   |   |         |   | 2,453 |   |
|                                                      | Accounts Receivable, net                             |   |      | 10,040  |   |         |   | 11,963 |   |
|                                                      | Unbilled Revenues                                    |   |      | 4,556   |   |         |   | 4,752 |   |
|                                                      | Materials and Supplies (at average cost)             |   |      | 1,523   |   |         |   | 2,196 |   |
|                                                      | Prepayments                                          |   |      | 1,524   |   |         |   | 1,401 |   |
|                                                      | TOTAL CURRENT ASSETS                                 |   |      | 21,439  |   |         |   | 22,765 |   |
|                                                      |                                                 |   |      |    |   |         |   |   |   |
| DEFERRED CHARGES                                          | Unamortized Debt Expense                             |   |      | 2,717   |   |         |   | 2,739 |   |
| AND OTHER ASSETS:                                         | Preliminary Survey and Investigation Charges         |   |      | 6,644   |   |         |   | 7,023 |   |
|                                                      | Regulatory Assets                                    |   |      | 38,236  |   |         |   | 38,771 |   |
|                                                      | Operations and Developer Contracts Fees Receivable   |   |      | 4,589   |   |         |   | 4,589 |   |
|                                                      | Restricted Cash                                      |   |      | 6,204   |   |         |   | 7,056 |   |
|                                                      | Non-utility Assets - Net                             |   |      | 7,339   |   |         |   | 7,122 |   |
|                                                      | Other                                                |   |      | 457     |   |         |   | 387 |   |
|                                                      | TOTAL DEFERRED CHARGES AND OTHER ASSETS              |   |      | 66,186  |   |         |   | 67,687 |   |
|                                                      | TOTAL ASSETS                                         |   | $         | 490,030 |   |         | $      | 489,185 |   |
|                                                      |                                                 |   |      |    |   |         |   |   |   |
| CAPITALIZATION AND LIABILITIES                            |                                                 |   |      |    |   |         |   |   |
| CAPITALIZATION:                                           | Common Stock, No Par Value                           |   | $         | 140,002 |   |         | $      | 139,534 |   |
|                                                      | Retained Earnings                                    |   |      | 33,481  |   |         |   | 33,745 |   |
|                                                      | TOTAL COMMON EQUITY                                  |   |      | 173,483 |   |         |   | 173,279 |   |
|                                                      | Preferred Stock                                      |   |      | 3,353   |   |         |   | 3,362 |   |
|                                                      | Long-term Debt                                       |   |      | 133,012 |   |         |   | 133,844 |   |
|                                                      | TOTAL CAPITALIZATION                                 |   |      | 309,848 |   |         |   | 310,485 |   |
|                                                      |                                                 |   |      |    |   |         |   |   |   |
| CURRENT                                                   | Current Portion of Long-term Debt                    |   |      | 4,443   |   |         |   | 4,432 |   |
| LIABILITIES:                                              | Notes Payable                                        |   |      | 17,800  |   |         |   | 17,000 |   |
|                                                      | Accounts Payable                                     |   |      | 5,170   |   |         |   | 6,403 |   |
|                                                      | Accrued Taxes                                        |   |      | 11,163  |   |         |   | 8,752 |   |
|                                                      | Accrued Interest                                     |   |      | 838     |   |         |   | 1,598 |   |
|                                                      | Unearned Revenues and Advanced Service Fees          |   |      | 894     |   |         |   | 864 |   |
|                                                      | Other                                                |   |      | 1,360   |   |         |   | 1,691 |   |
|                                                      | TOTAL CURRENT LIABILITIES                            |   |      | 41,668  |   |         |   | 40,740 |   |
|                                                      |                                                 |   |      |    |   |         |   |   |   |
| COMMITMENTS AND CONTINGENT LIABILITIES (Note 7)           |                                                 |   |      |    |   |         |   |   |
|                                                      |                                                 |   |      |    |   |         |   |   |   |
| DEFERRED CREDITS                                          | Customer Advances for Construction                   |   |      | 21,076  |   |         |   | 21,261 |   |
| AND OTHER LIABILITIES:                                    | Accumulated Deferred Investment Tax Credits          |   |      | 1,205   |   |         |   | 1,225 |   |
|                                                      | Accumulated Deferred Income Taxes                    |   |      | 29,854  |   |         |   | 29,691 |   |
|                                                      | Employee Benefit Plans                               |   |      | 28,341  |   |         |   | 28,562 |   |
|                                                      | Regulatory Liability - Cost of Utility Plant Removal |   |      | 7,558   |   |         |   | 7,369 |   |
|                                                      | Other                                                |   |      | 212     |   |         |   | 154 |   |
|                                                      | TOTAL DEFERRED CREDITS AND OTHER LIABILITIES         |   |      | 88,246  |   |         |   | 88,262 |   |
|                                                      |                                                 |   |      |    |   |         |   |   |   |
| CONTRIBUTIONS IN AID OF CONSTRUCTION                      |                                                 |   |      | 50,268  |   |         |   | 49,698 |   |
|                                                      | TOTAL CAPITALIZATION AND LIABILITIES                 |   | $         | 490,030 |   |         | $      | 489,185 |   |
|                                                      |                                                 |   |      |    |   |         |   |   |   |
| See Notes to Condensed Consolidated Financial Statements. |                                                 |   |      |    |   |         |   |   |
|                                                      |                                                 |   |      |    |   |         |   |   |   |

----

Index

| MIDDLESEX WATER COMPANY                         |
|-------------------------------------------------|
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
| (Unaudited)                                     |
| (In thousands)                                  |
|                                            |   |   |   |   |   |   |   |

|                                                                     |   | Three Months Ended March 31, |   |
|--------------------------------------------------------------------------|--------|-----------------------------------|--------|
|                                                                     |   | 2011                              |   | 2010 |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                    |   |                              |   |   |   |   |
| Net Income                                                               |   | $                                 | 2,630  |   |   | $ | 1,560 |   |
| Adjustments to Reconcile Net Income to                                   |   |                              |   |   |   |   |   |   |
| Net Cash Provided by Operating Activities:                               |   |                              |   |   |   |   |   |   |
| Depreciation and Amortization                                            |   |                              | 2,584  |   |   |   | 2,404 |   |
| Provision for Deferred Income Taxes and Investment Tax Credits           |   |                              | 208    |   |   |   | 328 |   |
| Equity Portion of Allowance for Funds Used During Construction (AFUDC)   |   |                              | (132   | ) |   |   | (181 | ) |
| Cash Surrender Value of Life Insurance                                   |   |                              | (45    | ) |   |   | 103 |   |
| Stock Compensation Expense                                               |   |                              | 82     |   |   |   | 85 |   |
| Changes in Assets and Liabilities:                                       |   |                              |   |   |   |   |   |   |
| Accounts Receivable                                                      |   |                              | 1,923  |   |   |   | 924 |   |
| Unbilled Revenues                                                        |   |                              | 196    |   |   |   | 280 |   |
| Materials & Supplies                                                 |   |                              | 673    |   |   |   | (3 | ) |
| Prepayments                                                              |   |                              | (123   | ) |   |   | 11 |   |
| Accounts Payable                                                         |   |                              | (1,233 | ) |   |   | (789 | ) |
| Accrued Taxes                                                            |   |                              | 2,411  |   |   |   | 2,556 |   |
| Accrued Interest                                                         |   |                              | (760   | ) |   |   | (978 | ) |
| Employee Benefit Plans                                                   |   |                              | 154    |   |   |   | 30 |   |
| Unearned Revenue & Advanced Service Fees                             |   |                              | 30     |   |   |   | 10 |   |
| Other Assets and Liabilities                                             |   |                              | (540   | ) |   |   | (413 | ) |
|                                                                     |   |                              |   |   |   |   |   |   |
| NET CASH PROVIDED BY OPERATING ACTIVITIES                                |   |                              | 8,058  |   |   |   | 5,927 |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                    |   |                              |   |   |   |   |   |   |
| Utility Plant Expenditures, Including AFUDC of $62 in 2011, $113 in 2010 |   |                              | (4,888 | ) |   |   | (5,449 | ) |
| Restricted Cash                                                          |   |                              | 852    |   |   |   | 61 |   |
|                                                                     |   |                              |   |   |   |   |   |   |
| NET CASH USED IN INVESTING ACTIVITIES                                    |   |                              | (4,036 | ) |   |   | (5,388 | ) |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                    |   |                              |   |   |   |   |   |   |
| Redemption of Long-term Debt                                             |   |                              | (828   | ) |   |   | (723 | ) |
| Proceeds from Issuance of Long-term Debt                                 |   |                              | 7      |   |   |   | 10,000 |   |
| Net Short-term Bank Borrowings                                           |   |                              | 800    |   |   |   | (5,450 | ) |
| Deferred Debt Issuance Expense                                           |   |                              | (19    | ) |   |   | (1 | ) |
| Repurchase of Preferred Stock                                            |   |                              | (9     | ) |   |   | - |   |
| Proceeds from Issuance of Common Stock                                   |   |                              | 386    |   |   |   | 600 |   |
| Payment of Common Dividends                                              |   |                              | (2,842 | ) |   |   | (2,436 | ) |
| Payment of Preferred Dividends                                           |   |                              | (52    | ) |   |   | (52 | ) |
| Construction Advances and Contributions-Net                              |   |                              | (122   | ) |   |   | 83 |   |
|                                                                     |   |                              |   |   |   |   |   |   |
| NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES                      |   |                              | (2,679 | ) |   |   | 2,021 |   |
| NET CHANGES IN CASH AND CASH EQUIVALENTS                                 |   |                              | 1,343  |   |   |   | 2,560 |   |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                         |   |                              | 2,453  |   |   |   | 4,278 |   |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD                               |   | $                                 | 3,796  |   |   | $ | 6,838 |   |
|                                                                     |   |                              |   |   |   |   |   |   |
|                                                                     |   |                              |   |   |   |   |   |   |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITY:                            |   |                              |   |   |   |   |   |   |
| Utility Plant received as Construction Advances and Contributions        |   | $                                 | 508    |   |   | $ | 146 |   |
|                                                                     |   |                              |   |   |   |   |   |   |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:                       |   |                              |   |   |   |   |   |   |
|    Cash Paid During the Year for:                         |   |                              |   |   |   |   |   |   |
| Interest                                                                 |   | $                                 | 2,088  |   |   | $ | 2,490 |   |
| Interest Capitalized                                                     |   | $                                 | 62     |   |   | $ | 113 |   |
| Income Taxes                                                             |   | $                                 | 603    |   |   | $ | 19 |   |
|                                                                     |   |                              |   |   |   |   |   |   |
| See Notes to Condensed Consolidated Financial Statements.                |   |                              |   |   |   |   |   |   |

----

Index

| MIDDLESEX WATER COMPANY                           |
|---------------------------------------------------|
| CONDENSED CONSOLIDATEDSTATEMENTS OF CAPITAL STOCK |
| AND LONG-TERM DEBT                                |
| (Unaudited)                                       |
| (In thousands)                                    |
|                                              |   |   |   |   |   |   |   |   |   |

|                                                                                                                                                                                                                                         |   | March 31, |    |   | December 31, |    |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------|---------|--------|--------------|---------|
|                                                                                                                                                                                                                                         |   | 2011      |    |   | 2010         |    |
| Common Stock, No Par Value                                                                                                                                                                                                                   |   |      |    |   |         |    |
| Shares Authorized -  40,000                                                                                                                                                                                                        |   |      |    |   |         |    |
| Shares Outstanding -2011 - 15,587                                                                                                                                                                                                            |   |      |    |   |         |    |   |   |
|                                       2010 - 15,566 |   | $         | 140,002 |   |         | $       | 139,534 |   |
|                                                                                                                                                                                                                                         |   |      |    |   |         |    |   |   |
| Retained Earnings                                                                                                                                                                                                                            |   |      | 33,481  |   |         |    | 33,745 |   |
| TOTAL COMMON EQUITY                                                                                                                                                                                                                          |   | $         | 173,483 |   |         | $       | 173,279 |   |
|                                                                                                                                                                                                                                         |   |      |    |   |         |    |   |   |
| Cumulative Preferred Stock, No Par Value:                                                                                                                                                                                                    |   |      |    |   |         |    |   |   |
|  Shares Authorized -   134                                                                                                                                                                                                    |   |      |    |   |         |    |   |   |
|  Shares Outstanding -  32                                                                                                                                                                                                          |   |      |    |   |         |    |   |   |
| Convertible:                                                                                                                                                                                                                                 |   |      |    |   |         |    |   |   |
| Shares Outstanding, $7.00 Series - 14                                                                                                                                                                                                        |   | $    | 1,457   |   |         | $  | 1,457 |   |
| Shares Outstanding, $8.00 Series - 7                                                                                                                                                                                                         |   |      | 816     |   |         |    | 816 |   |
| Nonredeemable:                                                                                                                                                                                                                               |   |      |    |   |         |    |   |   |
|    Shares Outstanding, $7.00 Series -   1                                                                                                                                                                           |   |      | 80      |   |         |    | 89 |   |
| Shares Outstanding, $4.75 Series - 10                                                                                                                                                                                                        |   |      | 1,000   |   |         |    | 1,000 |   |
| TOTAL PREFERRED STOCK                                                                                                                                                                                                                        |   | $         | 3,353   |   |         | $       | 3,362 |   |
|                                                                                                                                                                                                                                         |   |      |    |   |         |    |   |   |
| Long-term Debt:                                                                                                                                                                                                                              |   |      |    |   |         |    |   |   |
|    8.05%, Amortizing Secured Note, due December 20, 2021                                                                                                                                                                      |   | $         | 2,423   |   |         | $       | 2,456 |   |
|    6.25%, Amortizing Secured Note, due May 19, 2028                                                                                                                                                                           |   |      | 7,210   |   |         |    | 7,315 |   |
|    6.44%, Amortizing Secured Note, due August 25, 2030                                                                                                                                                                        |   |      | 5,437   |   |         |    | 5,507 |   |
|    6.46%, Amortizing Secured Note, due September 19, 2031                                                                                                                                                                     |   |      | 5,717   |   |         |    | 5,787 |   |
|    4.22%, State Revolving Trust Note, due December 31, 2022                                                                                                                                                                   |   |      | 585     |   |         |    | 585 |   |
|    3.30% to 3.60%, State Revolving Trust Note, due May 1, 2025                                                                                                                                                                |   |      | 3,639   |   |         |    | 3,655 |   |
|    3.49%, State Revolving Trust Note, due January 25, 2027                                                                                                                                                                    |   |      | 649     |   |         |    | 664 |   |
|    4.03%, State Revolving Trust Note, due December 1, 2026                                                                                                                                                                    |   |      | 865     |   |         |    | 865 |   |
|    4.00% to 5.00%, State Revolving Trust Bond, due September 1, 2021                                                                                                                                                          |   |      | 522     |   |         |    | 522 |   |
|    0.00%, State Revolving Fund Bond, due September 1, 2021                                                                                                                                                                    |   |      | 389     |   |         |    | 397 |   |
|    3.64%, State Revolving Trust Note, due July 1, 2028                                                                                                                                                                        |   |      | 380     |   |         |    | 387 |   |
|    3.64%, State Revolving Trust Note, due January 1, 2028                                                                                                                                                                     |   |      | 127     |   |         |    | 130 |   |
|    3.45%, State Revolving Trust Note, due August 1, 2031                                                                                                                                                                      |   |      | 24      |   |         |    | 17 |   |
|    6.59%, Amortizing Secured Note, due April 20, 2029                                                                                                                                                                         |   |      | 6,307   |   |         |    | 6,395 |   |
|    7.05%, Amortizing Secured Note, due January 20, 2030                                                                                                                                                                       |   |      | 4,708   |   |         |    | 4,771 |   |
|    5.69%, Amortizing Secured Note, due January 20, 2030                                                                                                                                                                       |   |      | 9,660   |   |         |    | 9,786 |   |
|    First Mortgage Bonds:                                                                                                                                                                                                      |   |      |    |   |         |    |   |   |
|  5.20%, Series S, due October 1, 2022                                                                                                                                                                                                   |   |      | 12,000  |   |         |    | 12,000 |   |
|  5.25%, Series T, due October 1, 2023                                                                                                                                                                                                   |   |      | 6,500   |   |         |    | 6,500 |   |
|  5.25%, Series V, due February 1, 2029                                                                                                                                                                                                  |   |      | 10,000  |   |         |    | 10,000 |   |
|  5.35%, Series W, due February 1, 2038                                                                                                                                                                                                  |   |      | 23,000  |   |         |    | 23,000 |   |
|  0.00%, Series X, due September 1, 2018                                                                                                                                                                                                 |   |      | 422     |   |         |    | 430 |   |
|     4.25% to 4.63%, Series Y, due September 1, 2018                                                                                                                                                                      |   |      | 590     |   |         |    | 590 |   |
|  0.00%, Series Z, due September 1, 2019                                                                                                                                                                                                 |   |      | 987     |   |         |    | 1,007 |   |
|     5.25% to 5.75%, Series AA, due September 1, 2019                                                                                                                                                                     |   |      | 1,440   |   |         |    | 1,440 |   |
|  0.00%, Series BB, due September 1, 2021                                                                                                                                                                                                |   |      | 1,303   |   |         |    | 1,328 |   |
|     4.00% to 5.00%, Series CC, due September 1, 2021                                                                                                                                                                          |   |      | 1,680   |   |         |    | 1,680 |   |
|  5.10%, Series DD, due January 1, 2032                                                                                                                                                                                                  |   |      | 6,000   |   |         |    | 6,000 |   |
|  0.00%, Series EE, due August 1, 2023                                                                                                                                                                                                   |   |      | 5,125   |   |         |    | 5,224 |   |
|     3.00% to 5.50%, Series FF, due August 1, 2024                                                                                                                                                                             |   |      | 6,555   |   |         |    | 6,555 |   |
|  0.00%, Series GG, due August 1, 2026                                                                                                                                                                                                   |   |      | 1,418   |   |         |    | 1,440 |   |
|     4.00% to 5.00%, Series HH, due August 1, 2026                                                                                                                                                                             |   |      | 1,715   |   |         |    | 1,715 |   |
|  0.00%, Series II, due August 1, 2024                                                                                                                                                                                                   |   |      | 1,215   |   |         |    | 1,239 |   |
|     3.40% to 5.00%, Series JJ, due August 1, 2027                                                                                                                                                                             |   |      | 1,625   |   |         |    | 1,625 |   |
|  0.00%, Series KK, due August 1, 2028                                                                                                                                                                                                   |   |      | 1,590   |   |         |    | 1,616 |   |
|     5.00% to 5.50%, Series LL, due August 1, 2028                                                                                                                                                                             |   |      | 1,695   |   |         |    | 1,695 |   |
|  0.00%, Series MM, due August 1, 2030                                                                                                                                                                                                   |   |      | 1,968   |   |         |    | 1,968 |   |
|     3.00% to 4.375%, Series NN, due August 1, 2030                                                                                                                                                                            |   |      | 1,985   |   |         |    | 1,985 |   |
| SUBTOTAL LONG-TERM DEBT                                                                                                                                                                                                                      |   |      | 137,455 |   |         |    | 138,276 |   |
| Less: Current Portion of Long-term Debt                                                                                                                                                                                                      |   |      | (4,443  | )      |         |    | (4,432 | ) |
| TOTAL LONG-TERM DEBT                                                                                                                                                                                                                         |   | $         | 133,012 |   |         | $       | 133,844 |   |

|                                                      |   |   |   |   |   |   |   |
|-----------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|
| See Notes to Condensed Consolidated Financial Statements. |   |   |   |
|                                                      |   |   |   |   |   |   |   |

----

Index

O

----

Index

|                 |   | (Thousands of Dollars) |   |
|----------------------|--------|------------------------|--------|
|                 |   | March 31, 2011         |   |   | December 31, 2010 |   |
|                 |   | Carrying               |   |   | Fair |   |   | Carrying |   |   | Fair |   |
|                 |   | Amount                 |   |   | Value |   |   | Amount |   |   | Value |   |
| First Mortgage Bonds |   | $                      | 88,814 |   |   | $ | 85,376 |   |   | $ | 89,037 |   |   | $ | 85,405 |   |
| SRF Bonds            |   | $                      | 913    |   |   | $ | 926 |   |   | $ | 919 |   |   | $ | 937 |   |

----

Index

|                                                    |   | (In Thousands Except per Share Amounts)Three Months Ended March 31, |   |
|---------------------------------------------------------|--------|---------------------------------------------------------------------|--------|
| Basic:                                                  |   | 2011                                                                |   |   | Shares |   |   | 2010 |   |   | Shares |   |
| Net Income                                              |   | $                                                                   | 2,630  |   |   |   | 15,576 |   |   | $ | 1,560 |   |   |   | 13,538 |   |
| Preferred Dividend                                      |   |                                                                | (52    | ) |   |   |   |   |   |   | (52 | ) |   |   |   |   |
| Earnings Applicable to Common Stock                     |   | $                                                                   | 2,578  |   |   |   | 15,576 |   |   | $ | 1,508 |   |   |   | 13,538 |   |
|                                                    |   |                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic EPS                                               |   | $                                                                   | 0.17   |   |   |   |   |   |   | $ | 0.11 |   |   |   |   |   |
|                                                    |   |                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted:                                                |   |                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings Applicable to Common Stock                     |   | $                                                                   | 2,578  |   |   |   | 15,576 |   |   | $ | 1,508 |   |   |   | 13,538 |   |
| $7.00 Series Preferred Dividend                         |   |                                                                | 24     |   |   |   | 167 |   |   |   | 24 |   |   |   | 167 |   |
| $8.00 Series Preferred Dividend                         |   |                                                                | 14     |   |   |   | 96 |   |   |   | 14 |   |   |   | 96 |   |
| Adjusted Earnings Applicable to  Common Stock |   | $                                                                   | 2,616  |   |   |   | 15,839 |   |   | $ | 1,546 |   |   |   | 13,801 |   |
|                                                    |   |                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted EPS                                             |   | $                                                                   | 0.17   |   |   |   |   |   |   | $ | 0.11 |   |   |   |   |   |

----

Index

|                                    |   |
|-----------------------------------------|--------|
|                                    |   | (In Thousands)Three Months EndedMarch 31, |   |
| Operations by Segments:                 |   | 2011 |   |   | 2010 |   |
| Revenues:                               |   |   |   |   |   |   |
|    Regulated             |   | $ | 21,236 |   |   | $ | 19,102 |   |
|    Non – Regulated |   |   | 2,841 |   |   |   | 2,626 |   |
| Inter-segment Elimination               |   |   | (81 | ) |   |   | (83 | ) |
| Consolidated Revenues                   |   | $ | 23,996 |   |   | $ | 21,645 |   |
|  Operating Income:                 |   |   |   |   |   |   |   |   |
|    Regulated             |   | $ | 4,335 |   |   | $ | 2,830 |   |
|    Non – Regulated |   |   | 433 |   |   |   | 458 |   |
| Consolidated Operating Income           |   | $ | 4,768 |   |   | $ | 3,288 |   |
|                                    |   |   |   |   |   |   |   |   |
| Net Income:                             |   |   |   |   |   |   |   |   |
|    Regulated             |   | $ | 2,373 |   |   | $ | 1,266 |   |
|    Non – Regulated |   |   | 257 |   |   |   | 294 |   |
| Consolidated Net Income                 |   | $ | 2,630 |   |   | $ | 1,560 |   |
|                                    |   |   |   |   |   |   |   |   |
| Capital Expenditures:                   |   |   |   |   |   |   |   |   |
|    Regulated             |   | $ | 4,832 |   |   | $ | 5,410 |   |
|    Non – Regulated |   |   | 56 |   |   |   | 39 |   |
| Total Capital Expenditures              |   | $ | 4,888 |   |   | $ | 5,449 |   |
|                                    |   |  As ofMarch 31,2011 |   |   |  As ofDecember 31,2010 |   |
| Assets:                                 |   |   |   |   |   |   |   |   |
|    Regulated             |   | $ | 487,170 |   |   | $ | 486,918 |   |
|    Non – Regulated |   |   | 9,018 |   |   |   | 8,116 |   |
| Inter-segment Elimination               |   |   | (6,158 | ) |   |   | (5,849 | ) |
| Consolidated Assets                     |   | $ | 490,030 |   |   | $ | 489,185 |   |

----

Index

|            |   | (In Thousands)Three Months EndedMarch 31, |   |
|-----------------|--------|-------------------------------------------|--------|
|            |   | 2011                                      |   |   | 2010 |   |
| Purchased Water |   |                                      |   |   |   |   |
| Treated         |   | $                                         | 640    |   |   | $ | 719 |   |
| Untreated       |   |                                      | 606    |   |   |   | 612 |   |
| Total Costs     |   | $                                         | 1,246  |   |   | $ | 1,331 |   |

----

Index

|                                            |   | (In Thousands)               |   |
|-------------------------------------------------|--------|------------------------------|--------|
|                                            |   | Pension Benefits             |   |   | Other Benefits |   |
|                                            |   | Three Months Ended March 31, |   |
|                                            |   | 2011                         |   |   | 2010 |   |   | 2011 |   |   | 2010 |   |
|                                            |   |                         |   |   |   |   |   |   |   |   |   |   |
| Service Cost                                    |   | $                            | 394    |   |   | $ | 349 |   |   | $ | 326 |   |   | $ | 256 |   |
| Interest Cost                                   |   |                         | 565    |   |   |   | 557 |   |   |   | 401 |   |   |   | 334 |   |
| Expected Return on Assets                       |   |                         | (571   | ) |   |   | (505 | ) |   |   | (256 | ) |   |   | (190 | ) |
| Amortization of Unrecognized Losses             |   |                         | 141    |   |   |   | 127 |   |   |   | 219 |   |   |   | 133 |   |
| Amortization of Unrecognized Prior Service Cost |   |                         | 2      |   |   |   | 2 |   |   |   | - |   |   |   | - |   |
| Amortization of Transition Obligation           |   |                         | -      |   |   |   | - |   |   |   | 34 |   |   |   | 34 |   |
| Net Periodic Benefit Cost                       |   | $                            | 531    |   |   | $ | 530 |   |   | $ | 724 |   |   | $ | 567 |   |

----

Index

i

|   | - | statements as to expected financial condition, performance, prospects and earnings of the Company; |
|--------|---|----------------------------------------------------------------------------------------------------|

|   | - | statements regarding strategic plans for growth; |
|--------|---|--------------------------------------------------|

|   | - | statements regarding the amount and timing of rate increases and other regulatory matters, including the recovery of certain costs recorded as regulatory assets; |
|--------|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | - | statements as to the Company’s expected liquidity needs during the upcoming fiscal year and beyond and statements as to the sources and availability of funds to meet its liquidity needs; |
|--------|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | - | statements as to expected rates, consumption volumes, service fees, revenues, margins, expenses and operating results; |
|--------|---|------------------------------------------------------------------------------------------------------------------------|

|   | - | statements as to the Company’s compliance with environmental laws and regulations and estimations of the materiality of any related costs; |
|--------|---|--------------------------------------------------------------------------------------------------------------------------------------------------|

|   | - | statements as to the safety and reliability of the Company’s equipment, facilities and operations; |
|--------|---|----------------------------------------------------------------------------------------------------------|

|   | - | statements as to financial projections; |
|--------|---|-----------------------------------------|

|   | - | statements as to the ability of the Company to pay dividends; |
|--------|---|---------------------------------------------------------------|

|   | - | statements as to the Company’s plans to renew municipal franchises and consents in the territories it serves; |
|--------|---|---------------------------------------------------------------------------------------------------------------------|

|   | - | expectations as to the amount of cash contributions to fund the Company’s retirement benefit plans, including statements as to anticipated discount rates and rates of return on plan assets; |
|--------|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | - | statements as to trends; and |
|--------|---|------------------------------|

|   | - | statements regarding the availability and quality of our water supply. |
|--------|---|------------------------------------------------------------------------|

|   | - | the effects of general economic conditions; |
|--------|---|---------------------------------------------|

|   | - | increases in competition in the markets served by the Company; |
|--------|---|----------------------------------------------------------------|

|   | - | the ability of the Company to control operating expenses and to achieve efficiencies in its operations; |
|--------|---|---------------------------------------------------------------------------------------------------------|

|   | - | the availability of adequate supplies of water; |
|--------|---|-------------------------------------------------|

|   | - | actions taken by government regulators, including decisions on rate increase requests; |
|--------|---|----------------------------------------------------------------------------------------|

|   | - | new or additional water quality standards; |
|--------|---|--------------------------------------------|

|   | - | weather variations and other natural phenomena; |
|--------|---|-------------------------------------------------|

|   | - | the existence of financially attractive acquisition candidates and the risks involved in pursuing those acquisitions; |
|--------|---|-----------------------------------------------------------------------------------------------------------------------|

|   | - | acts of war or terrorism; |
|--------|---|---------------------------|

|   | - | significant changes in the pace of housing development in Delaware; |
|--------|---|---------------------------------------------------------------------|

|   | - | the availability and cost of capital resources; |
|--------|---|-------------------------------------------------|

|   | - | the ability to translate Preliminary Survey & Investigation (PS&I) charges into viable projects; and |
|--------|---|--------------------------------------------------------------------------------------------------------------|

|   | - | other factors discussed elsewhere in this quarterly report. |
|--------|---|-------------------------------------------------------------|

----

Index

----

Index

----

Index

|   | • | Serve as a trusted and continually-improving provider of safe, reliable and cost-effective water, wastewater and related services; |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Provide a comprehensive suite of water and wastewater solutions in the continually-developing Delaware market that results in profitable growth; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Pursue profitable growth in our core states of New Jersey and Delaware, as well as additional states; and |
|--------|---------|-----------------------------------------------------------------------------------------------------------|

|   | • | Invest in products, services and other viable opportunities that complement our core competencies. |
|--------|---------|----------------------------------------------------------------------------------------------------|

----

Index

|                                |   | (In Thousands)Three Months Ended March 31, |   |
|-------------------------------------|--------|--------------------------------------------|--------|
|                                |   | 2011                                       |   |   | 2010 |   |
|                                |   | Regulated                                  |   |   | Non-Regulated |   |   | Total |   |   | Regulated |   |   | Non-Regulated |   |   | Total |   |
| Revenues                            |   | $                                          | 21,208 |   |   | $ | 2,788 |   |   | $ | 23,996 |   |   | $ | 19,019 |   |   | $ | 2,626 |   |   | $ | 21,645 |   |
| Operations and maintenance expenses |   |                                       | 11,780 |   |   |   | 2,251 |   |   |   | 14,031 |   |   |   | 11,539 |   |   |   | 2,055 |   |   |   | 13,594 |   |
| Depreciation expense                |   |                                       | 2,375  |   |   |   | 37 |   |   |   | 2,412 |   |   |   | 2,163 |   |   |   | 41 |   |   |   | 2,204 |   |
| Other taxes                         |   |                                       | 2,718  |   |   |   | 67 |   |   |   | 2,785 |   |   |   | 2,487 |   |   |   | 72 |   |   |   | 2,559 |   |
|   Operating income        |   |                                       | 4,335  |   |   |   | 433 |   |   |   | 4,768 |   |   |   | 2,830 |   |   |   | 458 |   |   |   | 3,288 |   |
|                                |   |                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other income, net                   |   |                                       | 246    |   |   |   | 56 |   |   |   | 302 |   |   |   | 373 |   |   |   | 74 |   |   |   | 447 |   |
| Interest expense                    |   |                                       | 1,188  |   |   |   | 26 |   |   |   | 1,214 |   |   |   | 1,383 |   |   |   | 41 |   |   |   | 1,424 |   |
| Income taxes                        |   |                                       | 1,020  |   |   |   | 206 |   |   |   | 1,226 |   |   |   | 554 |   |   |   | 197 |   |   |   | 751 |   |
|   Net income              |   | $                                          | 2,373  |   |   | $ | 257 |   |   | $ | 2,630 |   |   | $ | 1,266 |   |   | $ | 294 |   |   | $ | 1,560 |   |

|   | · | Middlesex System revenues increased $2.0 million, which represents the full effect of the 13.5% rate increase from March 17th of 2010; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Customer growth in our Tidewater System increased revenues by $0.1 million; |
|--------|--------|-----------------------------------------------------------------------------|

|   | · | Additional services provided by White Marsh under our non-regulated contracts increased revenues by $0.1 million; and |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------|

|   | · | Revenues from all other subsidiaries increased $0.2 million. |
|--------|--------|--------------------------------------------------------------|

|   | · | Labor costs increased $0.2 million primarily due to higher average labor rates from annual wage increases and lower capitalized labor; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Employee healthcare costs and postretirement benefit plan expenses increased $0.2 million; |
|--------|--------|--------------------------------------------------------------------------------------------|

|   | · | Increased net costs of $0.2 million from the implementation of a company wide information technology platform; |
|--------|--------|----------------------------------------------------------------------------------------------------------------|

|   | · | Chemical and residuals disposal expenses decreased $0.2 million, primarily due to increased costs in March 2010 resulting from abnormally high amounts of rainfall, which caused decreased quality of water; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Costs associated with main breaks decreased $0.2 million, as we experienced less severe and a lower number of main breaks in the first quarter of 2011 as compared to the first quarter of 2010; and |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | All other operating and maintenance expense categories increased $0.2 million. |
|--------|--------|--------------------------------------------------------------------------------|

----

Index

----

Index

|   | · | Internally generated funds |
|--------|--------|----------------------------|

|   | · | Proceeds from the sale of common stock through the DRP |
|--------|--------|--------------------------------------------------------|

|   | · | Funds available and held in trust under existing New Jersey SRF loans (currently, $4.7 million) and Delaware SRF loans (currently, $5.5 million). The SRF programs provide low cost financing for projects that meet certain water quality and system improvement benchmarks. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Short-term borrowings, if necessary, through $58.0 million of available lines of credit with several financial institutions.  As of March 31, 2011, the outstanding borrowings under these credit lines were $17.8 million. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

e

----

Index

t

----

Index

N

| Item 1. | Legal Proceedings |
|---------|-------------------|

| Item 1A. | Risk Factors |
|----------|--------------|

| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds |
|---------|-------------------------------------------------------------|

| Item 3. | Defaults Upon Senior Securities |
|---------|---------------------------------|

| Item 4. | Removed and Reserved |
|---------|----------------------|

| Item 5. | Other Information |
|---------|-------------------|

| Item 6. | Exhibits                                                                                                                |
|---------|-------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                    |
| 31.1    | Section 302 Certification by Dennis W. Doll pursuant to Rules 13a-14 and 15d-14 of the Securities Exchange Act of 1934. |

| 31.2 | Section 302 Certification by A. Bruce O’Connor pursuant to Rules 13a-14 and 15d-14 of the Securities Exchange Act of 1934. |
|------|----------------------------------------------------------------------------------------------------------------------------------|

| 32.1 | Section 906 Certification by Dennis W. Doll pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.2 | Section 906 Certification by A. Bruce O’Connor pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index

A

|   | MIDDLESEX WATER COMPANY |
|--------|-------------------------|
|   |                    |   |
|   | By:                     | /s/A. Bruce O’Connor                 |
|   |                    | A. Bruce O’Connor |
|   |                    | Vice President and |
|   |                    | Chief Financial Officer |
|   |                    | (Principal Accounting Officer) |