Unitil Completes Sale of Nuclear Interests
Hampton, NH – April 2, 2001: Unitil Corporation (AMEX: UTL) (www.unitil.com) completed the divestiture of its remaining interest in Millstone Unit 3 with the closing last Saturday on the sale of the Millstone Nuclear Generating Station to Dominion Nuclear Connecticut, Inc. Effective with this closing Unitil’s utility affiliate Fitchburg Gas and Electric Light Company completes the divestiture of its 2.5MW interest in Millstone 3 and eliminates all potential future liabilities including environmental and decommissioning liabilities.
"We are pleased that we have finally eliminated nuclear power related ownership risks for the company and for our Massachusetts customers," said Robert G. Schoenberger, Unitil’s Chairman and Chief Executive Officer. "This closes the book on our involvement in nuclear power generation, while providing direct and significant benefits to our customers, both immediately and in the long term."
Unitil Corporation is a public utility holding company with subsidiaries providing electric service in New Hampshire, electric and gas service in Massachusetts and energy service throughout the Northeast. Its subsidiaries are Concord Electric Company, Exeter & Hampton Electric Company, Fitchburg Gas and Electric Light Company, Unitil Power Corp., Unitil Realty Corp., Unitil Resources, Inc. and Unitil Service Corp.
Dominion Nuclear Connecticut, Inc. is a subsidiary of Dominion (NYSE: D). Headquartered in Richmond, Va., Dominion is one of the nation’s largest producers of energy. For more information about Dominion, visit the company's web site at www.dom.com.
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