Hampton, NH – December 29, 2000: Unitil/Concord Electric Company (CECo) and Unitil/Exeter & Hampton Electric Company (E&H), subsidiaries of Unitil Corporation (AMEX:UTL), today announced that the New Hampshire Public Utilities Commission has approved increases to their Fuel and Purchased Power Adjustment charges for effect on January 1, 2001. These increases reflect the significant increase in the costs of fuel used to generate electric power and significantly increased prices in the New England wholesale electricity market. Retail electricity prices for most New England utilities are increasing this winter.
A typical CECo residential customer using 500 kWh per month will see a monthly increase of $12.63 or 25% over current rates. A typical E&H residential customer using 500 kWh per month will see a monthly increase of $12.55 or 26% over current rates. Even with the increases, these rates will continue to compare favorably with other electric rates in New Hampshire and elsewhere in New England. Depending upon usage patterns, commercial and industrial customers may see increases of up to 36%. Fuel and Purchased Power Adjustment charges are normally adjusted every six months to reflect changes in wholesale fuel and purchased power costs incurred by the Company to provide electric energy to its retail customers.
In light of these increases, the companies are supporting the emergency proposal by the Commission to extend the winter moratorium on residential service terminations. CECo and E&H also offer programs that can help moderate the impact of these increases. Customers can sign up for the Equal Payment Plan, which spreads out the bills evenly throughout the year. The companies encourage customers to conserve energy and offer conservation tips in their monthly newsletters and over the Internet at www.unitil.com. Special assistance and conservation programs are also available for low-income customers. For information, CECo customers should call 1-800-852-3339 and E&H customers should call 1-800-582-7276.
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 George Gantz at 603-773-6569.
Contact
George Gantz
gantz@unitil.com
Corporate Office
Liberty Lane West
Hampton, NH 03842-1720
800/999-6501
