Unitil Massachusetts Files Gas Rate Decrease
Hampton, NH. (March 16, 2005): Today, Unitil Corporation's (AMEX:UTL) Massachusetts subsidiary filed its semiannual Cost of Gas Adjustment (CGA) with the Massachusetts Department of Telecommunications and Energy for summer period gas rates to take effect May 1, 2005.
A typical residential heating customer using 41 therms per month in the summer will see a decrease of $4.42 or 6.8% from current rates. Bill impacts will vary depending upon rate class and usage. This rate change is primarily due to decreases in commodity costs of purchased gas.
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 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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