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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 Date of State of Percentage Nature of
reporting or organiz organiz of voting business
company gas- ation ation securites
related held
(Indentation indicates subsidiary relationship)
Unitil Corporation
Unitil Energy 5/26/93 NH 100% Energy
Resources, Brokering &
Inc. Consulting
Services
Description of Various Energy Brokering & Consulting Services
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
visits other locations, predominately in New England,
representing client interests.
Energy Brokering and Consulting Services
Unitil Resources Inc. is Unitil Corporation's wholly-owned non-
utility subsidiary and has been authorized by the Securities and
Exchange Commission, pursuant to the rules and regulations of the
1935 Act, to engage in business transactions as a competitive
marketer of electricity, gas and other energy commodities in
wholesale and retail markets, and to provide energy brokering,
consulting and management related services within the United
States.
In April 2000, Unitil formed Usource, Inc. and Usource L.L.C.,
collectively "Usource", to operate its Internet-based brokering
and related energy products and services businesses. Usource,
Inc. is a wholly owned subsidiary of Unitil Resources, Inc. and
an indirect subsidiary of Unitil Corporation. Usource L.L.C. is
an affiliate of Usource, Inc.
Usource is an Internet-based energy marketplace that provides
customers access to a customer-driven auction process for energy
commodities and to a suite of value-added energy products,
services and tools. Usource runs on the transactional-based
software and energy commodity Exchange developed and licensed by
Enermetrix.com to assist customers with their energy procurement
process and to ensure highly competitive, time-sensitive bids
from energy suppliers. Through the Usource home page, energy
consumers and energy suppliers are able to conduct transactions
involving energy commodities using the advantages of
transactional e-commerce. Usource will provide energy service
providers with an Internet-based energy marketplace to offer
energy consumers products and services. Usource will also
provide data and information services to commercial and
industrial customers desiring to control their energy procurement
process and manage their energy usage.
The Federal Communications Commission has determined that
Usource, Inc. and Usource LLC are exempt telecommunications
companies, as that term is defined in PUHCA Section 34(a)(1), as
amended. Accordingly, financial information for Usource, Inc.
and Usource LLC is not included in the financial statements that
follow.
ITEM 2 - ISSUANCES AND RENEWALS OF SECURITIES AND CAPITAL
CONTRIBUTIONS
Associate Reporting Type of Net change in
company company transaction contributions
advancing funds receiving funds
Unitil Unitil Capital $3,200,000
Corporation Resources, Inc. contribution
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 Types Direct Indirect Cost Total
company company of costs costs of amount
rendering receiving services charged charged capital billed
services services rendered
Unitil Unitil Admin $224,609 $211,149 $0 $435,758
Service Corp Resources, and
Inc. General
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. Services provided by Unitil Service during
the third 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 September 30, 2000 $163,117
Total capitalization multiplied by 15% 24,468
Greater of $50 million or line 2 $50,000
Total current aggregate investment:
Energy-related business:
Unitil Resources, Inc. 4,290
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
Major line of Other Other Reason for
energy-related investment in investment in difference in
business last U-9C-3 this U-9C-3 other
report report investment
Energy $10,000* $0 n/a
Brokering 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)
ASSETS: September 30,
2000
Investment in Associated Companies $3,111,133
Current Assets:
Cash 302,948
Accounts Receivable 1,772
Accounts Receivable from Assoc Companies 217,062
Notes Receivable from Assoc Companies 525,000
Total Current Assets $1,046,782
Total Assets $4,157,915
LIABILITIES AND STOCKHOLDER'S EQUITY:
Current Liabilities:
Notes Payable $694,637
Accounts Payable 136,597
Taxes Accrued 67,558
Total Current Liabilities $898,792
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 (1,040,877)
Total Stockholder's Equity $3,259,123
Total Liabilities and Equity $4,157,915
ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS cont.
A. Financial Statements - Page 2 of 2
Unitil Resources, Inc.
(A Wholly-owned Subsidiary of Unitil Corporation)
STATEMENT OF EARNINGS
(UNAUDITED)
Three Months Nine Months
Ended Ended
September 30, September 30,
2000 2000
Revenues:
Electric Revenues $0 ($1,411)
Service Revenues 0 32,453
Services to Assoc Companies 122,001 216,417
Total Revenues $122,001 $247,459
Operating Expenses:
Purchased Power ($2,014) ($20,059)
Depreciation and Amortization 0 52,467
Administrative and General 129,400 650,719
Provision for Income Taxes (2,677) (152,516)
Total Operating Expenses $124,709 $530,611
Operating (Loss) Income (2,708) (283,152)
Nonoperating Income 1,026 1,141
Income(Loss) before Interest Exp (1,682) (282,011)
Interest Expense, net 1,079 17,594
Net (Loss) Income ($2,761) ($299,605)
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: November 28, 2000