Unitil Files Proposed Winter Gas Rates
Hampton, NH. (September 20, 2004): Unitil Corporation's (Unitil) (AMEX:UTL) Massachusetts utility subsidiary filed its semiannual Cost of Gas Adjustment (CGA) with the Massachusetts Department of Telecommunications and Energy (MDTE) today for winter period gas rates to take effect November 1, 2004.
A typical residential heating customer using 150 therms per month in the winter will see an increase of $22.87, or 12.5%, from last November. Bill impacts will vary depending upon rate class and usage. This increase is primarily due to increases in commodity costs of purchased gas.
"Energy markets have been under considerable price pressure in the past year, with home heating oil, up more than 30% and although natural gas prices have been more stable than oil they have still been going up," said Mark Lambert, Unitil's Director of Customer Services. "We encourage customers who are concerned about winter heating bills to contact the Company at 1-888-301-7700 for information about help that we may be able to provide such as low-income discounts, energy efficiency programs and information, and budget billing programs."
The 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 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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