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Organization, Summary of Significant Accounting Policies and Recent Developments (Tables)
 12 Months Ended
Dec. 31, 2024
Organization, Summary of Significant Accounting Policies and Recent Developments [Abstract]  
Schedule of Range of Depreciation Rates for the Major Utility Plant Categories The following table sets forth the range of depreciation rates for the major utility plant categories used to calculate depreciation for the years ended December 31, 2024, 2023, and 2022. These rates have been approved by the NJBPU or DEPSC:
Source of Supply 1.15% -   3.44% Transmission and Distribution (T&D):
Pumping 2.00% -   5.39% T&D – Mains 1.10%  -   3.13%
Water Treatment 1.65% -   7.09% T&D – Services 2.12%  -   3.16%
General Plant 2.08% - 17.84% T&D – Other 1.61%  -   4.63%
Wastewater Collection 1.42% -   1.81%    
Schedule of AFUDC Rates for Middlesex and Tidewater The AFUDC rates for the years ended December 31, 2024, 2023 and 2022 for Middlesex and Tidewater are as follows:
   2024   2023   2022 
Middlesex   6.64%    6.35%    6.35% 
Tidewater   7.92%    7.92%    7.92% 
Schedule of Operating Revenues

The Company’s operating revenues are comprised of the following:

 

   (In Thousands)
   Years Ended December 31,
   2024  2023  2022
Regulated Tariff Sales               
Residential  $97,802   $86,581   $84,950 
Commercial   31,833    23,945    22,689 
Industrial   13,842    11,586    11,152 
Fire Protection   14,188    12,582    12,726 
Wholesale   21,003    19,117    18,769 
Non-Regulated Contract Operations   13,085    12,320    12,006 
Total Revenue from Contracts with Customers  $191,753   $166,131   $162,292 
Other Regulated Revenues   691    806    831 
Other Non-Regulated Revenues   467    453    440 
Inter-segment Elimination   (1,034)   (1,116)   (1,129)
Total Revenue  $191,877   $166,274   $162,434 
Schedule of Issued Accounting Standards The recently issued accounting standards and their impact on the Company as of December 31, 2024 are as follows:
Standard   Description   Date of Adoption   Application   Effect on the
Consolidated
Financial Statements
Accounting Standards Update (“ASU”) 2023-07 “Improvements to Reportable Segment Disclosures”  

The ASU requires disclosure of significant segment expenses, extends certain annual disclosures to interim periods, and additional qualitative disclosures regarding the chief operating decision maker.

 

   The ASU is effective for the Company beginning with its annual financial statements for the year ended December 31, 2024.   Retrospective   The Company adopted ASU 2023-07, including a recast of 2023 and 2022 information, by including additional required disclosures within the Notes to the Consolidated Financial Statements -see Note 8- Reportable Segments.
ASU 2023-09 “Improvements to Income Tax Disclosures”   The ASU amends certain income tax disclosure requirements, including adding requirements to present the reconciliation of income tax expense computed at the statutory rate to actual income tax expense using both percentages and amounts and providing a disaggregation of income taxes paid. Further, certain disclosures are eliminated, including the current requirement to disclose information on changes in unrecognized tax benefits in the next 12 months.   The ASU is effective for the Company beginning with its annual financial statements for the year ending December 31, 2025. Early adoption is permitted.   Prospective, with retrospective application also permitted.   The Company is currently evaluating the requirements of ASU 2023-09.
ASU 2024-03 “Disaggregation of Income Statement Expenses”   The ASU enhances disclosures related to income statement expenses to further disaggregate expenses in the footnotes to the financial statements. The standard requires disaggregation of any relevant expense caption presented on the face of the income statement that contains the following expense categories: purchases of inventory, employee compensation, depreciation, intangible asset amortization, and depletion. Further, the standard requires disclosure of the total amount and the entity’s definition of selling expenses.   The ASU is effective for the Company beginning with its annual financial statements for the year ended December 31, 2027.   Prospective, with retrospective application also permitted.   The Company is currently evaluating the requirements of ASU 2024-03.