HAMPTON, N.H., Nov. 2, 2011 /PRNewswire via COMTEX/ --
Unitil Corporation (NYSE: UTL) (www.unitil.com) announced today that the Maine Public Utilities Commission ("Commission") approved a settlement agreement providing for a temporary rate increase of $3.45 million in annual distribution revenue, effective November 1, 2011, for the Maine division of Unitil's local gas distribution utility. The temporary rates will increase distribution rates for all customers by $0.0451 per hundred cubic feet ("CCF") of natural gas usage, but is partially off-set by a decrease in the winter cost of gas adjustment, also effective on November 1, 2011.
As a result of these rate changes, a typical residential heating customer using 150 CCF per month will see a net increase of $1.71, or 0.8%, in their monthly bill compared to last winter. Under Maine law, a temporary rate increase is subject to refund if the final permanent rate increase allowed by the Commission is lower.
In addition, on October 25, 2011, Unitil, the Maine Office of Public Advocate and other active intervenors in the Company's rate case, filed a Stipulation with the Commission for a permanent increase in Unitil's distribution rates of $7.78 million, or an additional $4.33 million above the temporary increase, to become effective on January 1, 2012. This Stipulation also provides for a second permanent increase of $850,000 to become effective on May 1, 2012. The permanent rate increases provided for in the Stipulation are subject to Commission review. It is expected that the Commission will consider whether to approve the Stipulation at a public deliberative session in early November 2011.
About Unitil Corporation
Unitil Corporation provides for the necessities of life, safely and reliably delivering natural gas and electricity throughout northern New England. We are committed to the communities we serve and to developing people, business practices, and technologies that lead to dependable, more efficient energy.Unitil Corporation is a public utility holding company with affiliates that include Unitil Energy Systems, Inc., Fitchburg Gas and Electric Light Company, Northern Utilities, Inc., and Granite State Gas Transmission, Inc. Together, Unitil's operating utilities serve approximately 100,900 electric customers and 70,800 natural gas customers. Other subsidiaries include Unitil Service Corp. and Usource, Unitil's non-regulated business segment. For more information about our people, technologies, and community involvement please visit www.unitil.com.
For more information please contact:
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David Chong - Investor Relations |
Alec O'Meara - Media Relations |
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Phone: 603-773-6499 |
Phone: 603-773-6404 |
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Email: chong@unitil.com |
Email: omeara@unitil.com |
SOURCE Unitil Corporation
