Unitil/Concord Electric and Unitil/Exeter & Hampton Electric File for Rate Decreases, Yielding the Lowest Electric Rates in the Region
Hampton, NH – June 18, 2001: Unitil Corporation (AMEX: UTL) (www.unitil.com) announced its wholly owned subsidiaries, Unitil/Concord Electric Company (CECo) and Unitil/Exeter & Hampton Electric Company (E&H) recently filed for a 15% rate decrease with the New Hampshire Public Utilities Commission (PUC). The proposed rate decreases would take effect August 1, 2001.
The rate decreases are the result of lower proposed Fuel and Purchased Power Adjustments. A typical CECo residential customer using 500 kWh per month will see a decrease of $9.31, yielding a total monthly bill of $53.57. A typical E&H residential customer using 500 kWh per month will see a decrease of $9.66, yielding a total monthly bill of $51.09. These are 14.8% and 15.90% decreases, respectively, compared to current rates. Similar impacts will be seen for other rate classes, depending upon usage. The decrease is primarily due to a moderation in the cost of fuel used to generate electric power.
With these proposed rate drops, CECo and E&H will have the lowest electric rates in the region.
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.
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Hampton, NH 03842-1720