SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act 1934
Date of Report (Date of earliest event reported): December 11, 2003
Commission File Number 1-8858
UNITIL CORPORATION
(Exact name of
registrant as specified in its charter)
New Hampshire | 02-0381573 | ||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | ||
6 Liberty Lane West, Hampton, New Hampshire | 03842-1720 | ||
(Address of principal executive offices) | (Zip Code) |
On December 11, 2003, Unitil Corporation (the Company) announced that the Federal Bankruptcy Court presiding over the Mirant (MIRKQ) bankruptcy proceeding approved the settlement between Unitils New Hampshire based utility subsidiaries, Unitil Energy Systems, Inc. (UES) and Unitil Power Corp. (UPC), and Mirants subsidiary Mirant Americas Energy Marketing, L.P. (Mirant Americas).
The Company has issued a press release regarding these events which is attached hereto as Exhibit 99.
Financial Statements
None
Exhibits
Exhibit 99: Press release dated December 11, 2003
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: December 11, 2003
UNITIL CORPORATION (Registrant) |
BY: /S/ Mark H. Collin Mark H. Collin Chief Financial Officer |
Exhibit 99
For Immediate Release
Contact: | Mark H. Collin |
Phone: 603-773-6612 | |
Fax: 603-773-6605 | |
Email: collin@unitil.com |
Bankruptcy Court Approves Mirant Settlement with Unitil
Hampton, NH December 11, 2003: Unitil Corporation (AMEX: UTL) (www.unitil.com) today announced that the Federal Bankruptcy Court presiding over the Mirant (MIRKQ) bankruptcy proceeding has approved the settlement between Unitils New Hampshire based utility subsidiaries, Unitil Energy Systems, Inc. (UES) and Unitil Power Corp. (UPC), and Mirants subsidiary Mirant Americas Energy Marketing, L.P. (Mirant Americas).
This settlement concerned the Portfolio Sale and Assignment and Transition and Default Service Supply Agreement among UES, UPC and Mirant Americas. Under the terms of the settlement, Mirant Americas has agreed to assume and continue to fulfill its power purchase and sale obligations under the Agreement, to cure all pre-petition obligations, and to settle certain other disputes. Unitil has agreed to accelerate the payment of amounts it has held back from Mirant Americas.
We are pleased that the Court has approved the settlement, which resolves a major source of uncertainty for our customers while allowing both parties to continue doing business together under a contract beneficial to both sides, said Robert G. Schoenberger, Unitils Chairman and Chief Executive Officer.
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 Unitil Energy Systems, Inc., Fitchburg Gas and Electric Light Company, Unitil Power Corp., Unitil Realty Corp., Unitil Service Corp. and its unregulated business segment Unitil Resources, Inc. Usource L.L.C. is a subsidiary of Unitil Resources, Inc.
This press release contains forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. All statements, other than statements of historical fact, are forward-looking statements. Certain factors that could cause the actual results to differ materially from those projected in these forward-looking statements include, but are not limited to the following: variations in weather; changes in the regulatory environment; customers preferences on energy sources; general economic conditions; increased competition; fluctuations in supply, demand, transmission capacity and prices for energy commodities; and other uncertainties, all of which are difficult to predict, and many of which are beyond the control of Unitil Corporation.
30