Unitil /Concord Electric Company and Unitil/Exeter & Hampton Electric Company Receive Approval to Change Fuel and Purchase Power Charges
Hampton, NH – June 29, 2000: Unitil Corporation (AMEX: UTL) (www.unitil.com) today announced that its wholly owned subsidiaries, Unitil Concord Electric Company (CECo) and Unitil/Exeter & Hampton Electric Company (E&H) received approval from the New Hampshire Public Utilities Commission to increase their respective fuel and purchase power adjustment charges. These charges are normally adjusted every six months to reflect changes in wholesale fuel and purchase power costs that are incurred by the Company to provide electric energy to their retail customers.
The new rates will be effective for the six month period from July 1, 2000 - December 31, 2000.
As a result of this increase in the fuel and purchase power changes, the average bill increase to a residential customer using 500 kilowatt hours per month will be approximately $1.62 for E&H customers and $2.80 for CECo customers. After the increases, the typical monthly bills will be $48.18 for E&H customers and $50.25 for CECo customers. These are among the lowest residential bills in New England. The increase is primarily a result of higher fuel costs used in generating electricity. On an annualized basis, the CECo and E&H rates in 2000 are at about the same level as 1999.
Unitil is a public utility holding company with subsidiaries providing electric service in New Hampshire and electric and gas service in Massachusetts and energy services throughout the Northeast. It’s subsidiaries include Concord Electric Company, Exeter & Hampton Electric Company, Fitchburg Gas and Electric Light Company, Unitil Power Corp., Unitil Realty Corp., Unitil Service Corp. and its unregulated business unit Unitil Resources, Inc. Usource L.L.C. is a subsidiary of Unitil Resources, Inc. The Usource product line is available at www.usourceonline.com
For more information, visit Unitil at www.unitil.com or call Stephanye Schuyler at 603-773-6465
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Hampton, NH 03842-1720