Hampton, NH. (March 22, 2004): Unitil's Massachusetts utility subsidiary filed its semiannual Cost of Gas Adjustment (CGA) with the Massachusetts Department of Telecommunications and Energy (MDTE) for summer period gas rates to take effect on May 1, 2004.
Gas costs are projected to be lower on average; however, the temporary refund which reduced rates in February, March and April will cease, resulting in a net average increase of 8.6%. Excluding the effect of the temporary refund, Unitil's average gas rates are decreasing 2.3%. Bill impacts will vary depending upon rate class and usage. Customers who are purchasing their gas from another supplier will not be affected by this rate change, which must be approved by the MDTE.
The Cost of Gas Adjustment (CGA) in the Commonwealth of Massachusetts is normally set every six months to reflect changes in wholesale gas supply costs incurred by the local distribution company to provide gas service to its customers. The CGA is initially based on estimates, and then reconciled to actual costs at the end of the period, with interest on over- or under-collections. Gas supply costs are recovered through the CGA without profit or mark up by the local distribution company.
Unitil Corporation (AMEX:UTL) 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.
For more information, visit Unitil at www.unitil.com or call Stephanye Schuyler at 603-773-6465.
Contact
Stephanye Schuyler
schuyler@unitil.com
Corporate Office
Liberty Lane West
Hampton, NH 03842-1720
800/999-6501
