Unitil Offers Large Customers Load Reduction Saving Opportunities
Hampton, NH – April 23, 2001: Unitil Corporation (AMEX: UTL) (www.unitil.com) announced today that its electric distribution companies are seeking approval from state regulators in MA and NH for tariffs to implement the innovative Load Response programs for larger customers that the Independent System Operator – New England (ISO-NE) recently filed with the Federal Energy Regulatory Commission (FERC) for approval. These programs constitute the first, market-wide real-time pricing opportunity for electricity and could provide substantial benefits to participating customers as well as to electricity consumers throughout New England.
"This is a significant step towards fully efficient electricity markets in New England where supply and demand are traded in real-time at real-time prices," said Michael J. Dalton, Unitil’s President and Chief Operating Officer. "We will be contacting all our eligible customers within one week and encouraging as many as possible to participate in the program this summer."
The programs offered include a Demand Response Program which compensates users for reducing consumption during periods of system emergency, and a Price Response Program which compensates users for controlling their consumption in response to real-time market prices during high cost periods. By participating in either of these programs, large users earn incentive payments for reducing or deferring energy use during peak periods, save money by reducing their electric bills, and do their part to help ensure the power grid's reliability. The Programs also provide significant indirect benefits to all electric customers in New England by reducing wholesale Electric Clearing Prices during high cost periods and by reducing environmental emissions in the hours of highest output.
Unitil Corporation is a public utility holding company with subsidiaries providing electric service in New Hampshire, electric and gas service in Massachusetts and energy service throughout the Northeast. Its subsidiaries are Concord Electric Company, Exeter & Hampton Electric Company, Fitchburg Gas and Electric Light Company, Unitil Power Corp., Unitil Realty Corp., Unitil Resources, Inc. and Unitil Service Corp.
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Hampton, NH 03842-1720