Unitil /Fitchburg Gas and Electric Files Electric Default Service Rate Increases
Hampton, NH – April 6, 2001: Unitil Corporation (AMEX: UTL) (www.unitil.com) announced today that its wholly owned subsidiary, Fitchburg Gas and Electric Light Company (FG&E) filed for an increase in electric Default Service rates with the Massachusetts Department of Telecommunications and Energy (MDTE).
The increase in Default Service rates reflects the increase in market prices for electric power supply. Roughly 5,000 customers are on the Company’s Default Service, less than one fifth of the Company’s total electric customers. The increase is proposed to go into effect June 1, 2001.
Default Service Customers may choose a fixed six month rate or a monthly variable rate. The fixed rate is the same for all six months, while the variable rate fluctuates by month. The proposed Default Service rate for a residential customer choosing the fixed price option is 9.128 cents/kilowatthour, an increase of 1.116 cents/kilowatthour over the current rate. Under the proposed rates, the total monthly bill for a residential Default Service customer using 500 kilowatthours will be $86.06, an increase of $5.58 per month or 6.9%. Similar impacts will be seen for commercial and industrial customers.
FG&E will post its approved fixed and variable Default Service rates on its web site, www.unitil.com. Customers may also call 1-888-301-7700 for the approved rates. The rate change will also be announced in bill messages for each Default Service customer prior to the effective date.
Default Service electric supply is provided to electric customers who opened their account with FG&E after March 1, 1998 or have been served by a competitive power supplier in the past, but now take supply service from FG&E. Default Service prices are competitively bid by FG&E every six months for the June 1 - November 30 period and the December 1 - May 31 period. Default Service was designed as a supply of last resort provided by the utility, ensuring that no one will ever be without a supply of electricity
Unitil is a public utility holding company with subsidiaries providing electric service in New Hampshire and electric and gas service in Massachusetts and energy services throughout the Northeast. Its 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 unit 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.
Contact Corporate Office
Liberty Lane West
Hampton, NH 03842-1720