Unitil Files Proposed May 1 Rates
Hampton, NH (March 18, 2005): Unitil Corporation (AMEX:UTL) announced that its New Hampshire retail operating subsidiary filed proposed rate increases with the New Hampshire Public Utilities Commission (NHPUC). If approved, rates to all Unitil's New Hampshire customers will change on May 1.
The proposal would increase total rates to residential and small and medium business customers by an average of 2.2%. A residential customer with a current 500 kWh bill of $55.65 will see an increase of $1.19, or 2.1% to $56.84. This rate increase includes the final step increase under Unitil's transition energy supply contract for these customer classes, which ends in April 2006, as well as annual changes to Unitil's reconciling rate mechanisms. Unitil will soon file a proposal with the NHPUC for an energy supply procurement process that will be implemented for the period beginning May 2006.
Unitil's large business customers, a total of 149 customers, will see increases of 19%, on average, due primarily to a new transition energy supply contract, which replaces the current contract for these customers, which expires in April 2005. This new contract, which will apply for a six-month period, was procured through a highly competitive solicitation and reflects current record high energy prices. Some large business customers may be able to improve their energy supply prices by contracting on their own in the competitive energy market.
Unitil's rates will remain among the lowest in New Hampshire. Unitil serves 73,565 customers in New Hampshire's Seacoast and Capital areas.
Unitil Corporation 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.
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