Unitil Electric Rates in New Hampshire to Drop May 1
Hampton, NH - March 20, 2007: Unitil Corporation (AMEX:UTL) announced that its New Hampshire retail operating subsidiary filed wholesale electricity supply solicitation results and proposed retail rates with the New Hampshire Public Utilities Commission for its approval. The revised rates will go into effect on May 1.
Overall, a typical residential customer using 500 kWh per month will see a bill decrease from $84.72 to $76.23 or 10%. Small to medium size business customers will see bill decreases of about 6% to 10% depending on rate class and usage. These rates are adjusted every six months when new supply contracts are negotiated.
Large business customers who take Default Service energy supply from Unitil will see bill decreases of about 15%, however most of Unitil's large business customers are buying retail electricity supplies directly from the competitive market. Default Service prices for large business customers change monthly based on new supply contracts that are procured on a quarterly basis.
"Record high market prices for electricity supply have abated somewhat, which is good news for our customers," said Mark Lambert, Unitil's Director of Customer Service. "Conservation continues to be the best strategy for customers in controlling their energy bills, and we are seeing evidence that our customers are doing just that."
Default Service electricity supply, which Unitil purchases on behalf of its customers, is passed along at actual cost, with no profit or mark up by the utility. These purchases are conducted through competitive bids under the supervision of state regulators with the goal of providing the lowest available prices to customers.
Unitil Corporation at www.unitil.com 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.
Contact Corporate Office
Liberty Lane West
Hampton, NH 03842-1720