Unitil and Bargaining Units Agree on New Five Year Contracts
Hampton, NH - May 31, 2005: Unitil Corporation (AMEX: UTL) (www.unitil.com) announced today that it has reached agreements with its bargaining units for new five- year contracts: Unitil Energy Systems, Inc. with Local 1837 of the International Brotherhood of Electrical Workers (IBEW) and Fitchburg Gas and Electric Light Company with Local 340 of the Utility Workers Union of America (UWUA).
The new contracts were ratified by each of the units and will replace the contracts that expire May 31, 2005.The new contracts provide for industry-competitive wages and benefits over the five-year period to retain and attract quality employees.
"We are proud of the positive outcome of these negotiations, which reflects the caliber and commitment of both the union and management negotiating teams," said Chairman and Chief Executive Officer Robert Schoenberger. "The partnership with our unions enables Unitil to provide excellent reliability and service at a reasonable cost to our customers."
Unitil Corporation (AMEX:UTL) is a public utility holding company with subsidiaries providing electric service in New Hampshire, electric and gas service in Massachusetts and energy services throughout the Northeast.
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