Unitil-MA to Lower Basic Service Rate for Large Business Customers
Hampton, NH - (January 26, 2006): Unitil Corporation (AMEX:UTL) announced today that its Massachusetts subsidiary filed with state regulators new electric energy supply prices for large business customers on Basic Service. If approved, the new energy prices will be in effect for a three month period beginning March 1, 2006.
As a result of the change, Unitil's large business customers remaining on Basic Service in Massachusetts will see bills decline by approximately 32% - 34%, depending upon usage. Two thirds of Unitil's large business customers, accounting for more than 85% of the energy used by this group, already procure energy supply directly from the competitive market and will not be affected by the change in rates. This reduction reflects recent significant declines in the wholesale costs of electricity.
Basic Service is provided to customers who do not have their own retail competitive electricity supply. These services are procured through a competitive bid process and the resulting prices are passed through to customers without profit or mark up from the local distribution company. Basic Service prices change every three months for large business customers and every six months for residential and small to medium business customers.
Unitil Corporation (AMEX:UTL) at 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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