Unitil Files Fuel Rate Change
Hampton, NH (June 18, 2002) -Unitil Corporation (AMEX: UTL) (www.unitil.com) announced that its New Hampshire subsidiaries Concord Electric Company (CECo) and Exeter & Hampton Electric Company (E&H) today filed a proposed increase in Fuel and Purchased Power Adjustment charges with the New Hampshire Public Utilities Commission (PUC). If approved, the new rates would go into effect August 1, 2002. The increases are due primarily to the impact of rising fuel costs for electric power generation.
The bill for a typical residential customer using 500 kWh per month would increase $3.23 or 6.54% to $52.59 per month for CECo and $3.10 or 6.43% to $51.32 per month for E&H customers. The Fuel and Purchased Power Adjustment charges are normally adjusted every six months. The proposed rates are approximately at the same level as they were in August 2001, and significantly below the rate levels in effect during the first seven months of 2001. Rates for CECo and E&H customers remain among the lowest in New England.
The change in Fuel and Purchased Power Adjustment charges is unrelated to Unitil's electric restructuring proposals, which are the subject of an ongoing proceeding before the Commission. Those proposals include the combination of Concord Electric and Exeter & Hampton Electric into a single distribution utility, the restructuring of the companies' rates and the introduction of customer choice in the supply of electric energy. A decision in that proceeding is expected in the fall, and final implementation of Customer Choice is now anticipated to occur on May 1, 2003.
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. Additional information is available at www.unitil.com. Unitil’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 segment 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