Tidewater Utilities, a wholly owned subsidiary of Middlesex Water Company, will credit approximately $1.1 million to its customers, translating to an average credit of $18.75 on March 2026 water bills. The refund is funded by settlements from PFAS contamination litigation and was approved by the Delaware Public Service Commission on February 27, 2026.
The refund is tied to two major settlements: a $93.16 million agreement with 3M in August 2023 and a $4.9 million class‑action settlement for New Jersey residents approved in October 2025. The proceeds from these settlements are being used to offset the cost of PFAS treatment, allowing the company to return a portion of the funds directly to its roughly 62,000 Delaware customers.
The Delaware PSC’s approval underscores the company’s compliance with regulatory requirements and its commitment to customer affordability. By returning a portion of litigation proceeds, Tidewater can reduce the financial burden of ongoing PFAS treatment while providing a tangible benefit to its service area.
Middlesex Water Company’s recent financial results provide context for the refund. In Q4 2025, the company reported diluted earnings per share of $0.46, missing the consensus estimate of $0.49, while revenue of $46.98 million beat the $46.91 million estimate. The full‑year 2025 diluted EPS of $2.36 fell from $2.47 in 2024, a decline attributed to a one‑time recovery of certain 2024 costs and lower consumption driven by weather patterns.
The company is also pursuing a $506 million capital‑investment plan for 2026‑2028, with $255 million earmarked for PFAS treatment. In addition, a New Jersey rate‑case approval granted a $14.5 million annual revenue increase, reinforcing the company’s strategy to invest in infrastructure while maintaining affordability.
Bruce E. Patrick, President of Tidewater Utilities, said, “We appreciate the Commission's review and approval of this refund, which allows us to return these proceeds directly to our customers. PFAS treatment requires significant and ongoing investment, and these funds help offset those costs while ensuring customers receive a direct benefit from the litigation proceeds.” Nadine Leslie, CEO of Middlesex Water Company, added, “We appreciate the diligence and commitment of the New Jersey Board of Public Utilities Staff and the Division of Rate Counsel throughout the review of our general rate case. This constructive outcome supports our selective and sustainable growth strategy, enabling continued prudent investment in the Middlesex System to provide safe and reliable water utility service, while maintaining affordability and strengthening long‑term value for our customers and shareholders.”
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