Unitil Electricity Supply Rates to Increase for Large Business Customers
Hampton, NH (October 3,2005): Unitil Corporation (AMEX:UTL) announced that its New Hampshire retail operating subsidiary filed wholesale electricity supply solicitation results and proposed rates for its large business customers with the New Hampshire Public Utilities Commission for their approval. The proposed rates will apply to Unitil's largest commercial and industrial customers in New Hampshire who have not chosen a competitive supply option. The revised rates will go into effect on November 1 for the six-month period ending April 30, 2006. Thereafter, rates for this customer group will be adjusted every three months based on quarterly wholesale electricity supply solicitations.
The proposed rates, affecting approximately 150 of Unitil's largest customers, reflect current market conditions in the electricity supply markets. These markets have been significantly influenced by the high prices for various fuels including natural gas, which has nearly doubled over the period. Although specific bill impacts will vary depending on customer demands and usage, the average increase over rates presently in effect is estimated at 60%.
The new electricity supply contract resulting from the competitive solicitation process will be in place for the six-month period November 2005 through April 2006. Some large business customers may be able to improve their energy supply prices by contracting on their own in the competitive energy market. A list of suppliers registered in Unitil's service territory is at Unitil's web site on the following page: http://services.unitil.com/ceco/supplier_info.asp
Unitil also provides information on energy efficiency products and services for all customers on its website, available at (www.unitil.com).
Unitil Corporation 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