Unitil Energy Systems Increases Rates
Hampton, NH -July 7, 2003 - Unitil Corporation (AMEX:UTL) www.unitil.com announced today that its subsidiary, Unitil Energy Systems (UES), received approval for a rate increase from the New Hampshire Public Utilities Commission to cover last winter's higher than projected costs of electricity The rate changes are effective July 1, 2003.
Electricity supply costs last winter increased sharply, exceeding the company's forecasts by 20% over the period. As approved by the Commission, these costs will be recovered over a 22 month period, resulting in a rate increase of approximately 3.5%.
For a typical residential customer using 500 kWh per month, the bill increase will be $1.94 per month, increasing the average monthly residential bill to $56.93 per month. Bill impacts will vary, depending on rate class and usage levels.
Unitil 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. Its subsidiaries include, Fitchburg Gas and Electric Light Company, Unitil Energy Systems, Inc., 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. and provides energy brokering and related products and services (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