Middlesex Water Company (MSEX) Janney Virtual Water Utilities Conference summary

Strategic direction and growth pillars

• Launched a five-year strategy, MWC 2030, focused on employee development, operational excellence, customer experience, stakeholder management, and selective, sustainable growth.

• Emphasizing leadership development, process automation, and compliance to drive efficiency and value.

• Customer experience improvements include assessing AI tools and making interactions easier.

• Growth strategy targets disciplined infrastructure investment and tuck-in acquisitions within and near current footprint.

Regulatory and rate case updates

• New Jersey rate case proceeding on schedule despite staff shortages; no significant delays expected.

• Interim rates could be considered in April 2026 if needed, but historically have not been implemented.

• DSIC and RESIC filings in New Jersey are progressing as expected, with no unusual delays.

• Delaware rate case recently settled; next filing expected in 2–3 years, with a DSIC filing planned later this year.

Customer affordability and energy costs

• Affordability remains a priority, with utility bills under 1% of household income.

• Fixed power contracts through early 2027 help manage exposure to rising electricity costs.

• Exploring solar and other self-generation options to further control energy expenses.