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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-9C-3
QUARTERLY REPORT PURSUANT TO RULE 58
UNITIL CORPORATION
(Name of Registered Holding Company)
6 Liberty Lane West, Hampton, New Hampshire 03842-1720
(Address of principal executive offices)
ITEM 1 - ORGANIZATION CHART
Name of Energy or Date of State of Percentage Nature
reporting gas-related Organization Organization of voting of
company company securities business
held
(Indentation indicates subsidiary relationship)
Unitil
Corporation
Unitil
Resources,
Inc. Energy 5/26/93 NH 100% Energy
Marketing &
Consulting
Description of Various Consulting, Energy Marketing, Energy
Management and Other Activities Undertaken by Unitil Resources
Inc.:
Staff providing services under the activities listed below
(unless otherwise indicated) are located at Unitil Service Corp.
(Unitil Service), 6 Liberty Lane West, Hampton, NH 03842-1720,
where most client work is performed. From time to time staff
visit other locations, predominately in New England, representing
client interests.
Energy Marketing Activities
New Hampshire Pilot Program. As of July 1, 1996, Unitil
Resources, Inc., became eligible to begin marketing electricity
at retail to statewide participants in the New Hampshire Pilot
Program. This program, which originally was scheduled to last 24
months, allows 3% of all electric customers in the State of New
Hampshire to purchase electricity from the supplier of their
choice. In 1998, the State of New Hampshire extended this program
beyond the original 24 month period. Unitil Resources
discontinued this program effective December 31, 1999.
Electricity and Natural Gas Brokerage. On March 25, 1999 Unitil
Corporation acquired a minority interest in Enermetrix.com
(formerly known as North American Power Brokers, Inc.), a
privately held company providing Internet technology solutions to
the energy industry. The Federal Communications Commission has
determined that Enermetrix.com is an exempt telecommunications
company, as that term is defined in PUHCA Section 34(a)(1), as
amended.
Unitil Corporation, through Unitil Resources, has licensed and
deployed Enermetrix.com's innovative Internet-based technology
for brokering electricity and natural gas energy transactions
between retail consumers and energy suppliers. Unitil Resources
offers the retail energy electronic commerce system developed and
owned by Enermetrix.com to medium and large commercial and
industrial customers, co-branded under the name "Usource",
powered by Enermetrix.com's World Wide Retail Energy Exchange.
Usource has expanded service to New York, Pennsylvania,
Massachusetts, Maine and New Hampshire. Revenues generated from
this activity during the second quarter of 2000 were $16,293.
ITEM 2 - ISSUANCES AND RENEWALS OF SECURITIES AND CAPITAL
CONTRIBUTIONS
Associate Reporting Type Net
company company of Change
advancing receiving Transaction in Contributions
funds funds
Unitil Unitil Capital $3,200,000
Corporation Resources Contribution
Inc.
ITEM 3 - ASSOCIATE TRANSACTIONS
Part I - Transactions Performed by Reporting Companies on Behalf
of Associate Companies
None.
Part II - Transactions Performed by Associate Companies on Behalf
of Reporting Companies
Associate Reporting
company company Types of Direct Indirect Cost Total
rendering receiving services costs costs of amount
services services rendered charged charged Capital billed
Unitil Unitil Energy $212,891 $196,072 $0 $408,963
Service Resources Marketing
Corp. Inc. and
Consulting
Staff involved in providing service to Unitil Resources, Inc.
(Unitil Resources) are located at Unitil Service Corp. (Unitil
Service). Service is provided to Unitil Resources pursuant to a
service agreement between Unitil Service and Unitil Resources
dated July 1, 1993. Consulting services provided by Unitil
Service during the second quarter of 2000 included regulatory,
finance, accounting, marketing, energy management and
administrative services.
ITEM 4 - SUMMARY OF AGGREGATE INVESTMENT
(Dollars in Thousands)
Investments in Energy-related Companies:
Total consolidated capitalization
as of June 30, 2000 $163,527
Total capitalization multiplied by 15% 24,529
Greater of $50 million or line 2 $50,000
Total current aggregate investment:
Energy-related business: 4,290
Unitil Resources, Inc.
Total current aggregate investment 4,290
Difference between the greater of $50 million
or 15% of capitalization and the total aggregate
investment of the registered holding company
system (line 3 less line 4) $45,710
Investments in Gas-related Companies
None.
ITEM 5 - OTHER INVESTMENTS
Other Other Reason for
Major line of investment in investment in difference in
energy-related last U-9C-3 this U-9C-3 other
business report report investment
Energy Marketing $10,000* $0 n/a
and Consulting
* The initial investment by Unitil Corporation in Unitil
Resources, Inc. was $10,000.
ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS
A. Financial Statements - Page 1 of 2
Unitil Resources, Inc.
(A Wholly-owned Subsidiary of Unitil Corporation)
BALANCE SHEET
(UNAUDITED)
June 30,
ASSETS: 2000
Service Company Property:
Equipment $185,504
Less: Accumulated Depreciation (46,746)
Net Equipment 138,758
Intangible Assets, net of
Amortization 675,052
Software Development 1,212,505
Total Service Company Property 2,026,315
Current Assets:
Cash 710,695
Accounts Receivable 73,583
Prepayments 79,433
Total Current Assets 863,711
Deferred Debits 42,759
Total Assets $2,932,785
LIABILITIES AND STOCKHOLDER'S
EQUITY:
Current Liablilites
Accounts Payable $173,594
Taxes Accrued (110,001)
Miscellaneous Current Liabilities 2,471
Total Current Liabilities 66,064
Stockholder's Equity:
Common Stock, $1.00 par value
Authorized - 10,000 shares
Outstanding - 10,000 shares 100
Premium on Common Stock 9,900
Miscellaneous Paid in Capital 4,290,000
Retained Earnings (1,433,279)
Total Stockholder's Equity 2,866,721
Total Liabilities and Equity $2,932,785
ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS
A. Financial Statements - Page 2 of 2
Unitil Resources, Inc.
(A Wholly-owned Subsidiary of Unitil Corporation)
STATEMENT OF EARNINGS
(UNAUDITED)
Three Six
Months Months
Ended Ended
June 30, June 30,
2000 2000
Revenues:
Electric Revenues $0 $(1,411)
Service Revenues 16,293 48,746
Total Revenues 16,293 47,335
Operating Expenses:
Purchased Power (1,441) (18,045)
Depreciation and
Amortization 68,104 120,571
Administrative and
General 557,563 964,517
Provision for Income
Taxes (209,619) (351,805)
Total Operating Expenses 414,607 715,238
Operating (Loss) Income (398,314) (667,903)
Nonoperating Income 3,980 3,980
Income (Loss) before (394,334) (663,923)
Interest Expense
Interest Exense, net 15,995 28,084
Net (Loss) Income $(410,329) $(692,007)
B. Exhibits
None.
SIGNATURE
Pursuant to the requirements of the Public Utility Holding
Company Act of 1935, the undersigned company has duly caused this
Certificate to be signed on its behalf by the undersigned
thereunto duly authorized.
Unitil Corporation
By: /s/ Mark H. Collin
Mark H. Collin
Treasurer
Dated: August 28, 2000
SIGNATURE
Pursuant to the requirements of the Public Utility Holding
Company Act of 1935, the undersigned company has duly caused this
Certificate to be signed on its behalf by the undersigned
thereunto duly authorized.
Unitil Corporation
By: _____________________
Mark H. Collin
Treasurer
Dated: August 28, 2000