UNITED STATES
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): April 13, 2011
UNITIL CORPORATION
(Exact name of registrant as specified in its charter)
| New Hampshire | 1-8858 | 02-0381573 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 6 Liberty Lane West, Hampton, New Hampshire | 03842-1720 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (603) 772-0775
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 7.01 | Regulation FD Disclosure |
On April 18, 2011, Unitil Corporation (“Unitil” or “Registrant”) issued a press release announcing that Jacobs Consultancy submitted its independent Management Audit Report to the Massachusetts Department of Public Utilities (“MDPU”) regarding the management of the electric operations of Unitil’s Massachusetts utility subsidiary, Fitchburg Gas and Electric Light Company, including the management practices of Unitil Corporation. A copy of Unitil’s press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
| Item 9.01 | Financial Statements and Exhibits |
| (d) | Exhibits |
| Number | Exhibit | |
| 99.1 | April 18, 2011 press release regarding Management Audit Report on Fitchburg Gas and Electric Light Company and Unitil Corporation | |
SIGNATURES
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, hereunto duly authorized.
| UNITIL CORPORATION | ||
| By: | /s/ Mark H. Collin | |
| Mark H. Collin | ||
| Senior Vice President, Chief Financial Officer and Treasurer | ||
| Date: | April 18, 2011 | |
EXHIBIT INDEX
| Number | Exhibit | |
| 99.1 | April 18, 2011 press release regarding Management Audit Report on Fitchburg Gas and Electric Light Company and Unitil Corporation | |
Exhibit 99.1
| FOR IMMEDIATE RELEASE | PAGE 1 OF 2 |
MANAGEMENT AUDIT ON UNITIL RELEASED
Independent review concludes Company’s management practices are sound
HAMPTON, N.H., APRIL 18, 2011 — Unitil Corporation (NYSE: UTL) (www.unitil.com) today announces that Jacobs Consultancy has submitted to the Massachusetts Department of Public Utilities (MDPU) its independent Management Audit Report (Audit Report) regarding the management of Fitchburg Gas and Electric Light Company d/b/a Unitil, including the management practices of Unitil Corporation. The Audit Report found Unitil’s management practices to be comprehensive, sound and in-line with industry practice. It also included sixteen recommendations intended to further improve the results of Unitil’s management strategy, and acknowledged that many of these recommendations were already being implemented by the Company.
The independent audit of Unitil’s management practices was required by the MDPU in its order addressing Unitil’s performance following the December 2008 ice storm that devastated many communities throughout Massachusetts and New Hampshire. The purpose of the audit was to review all of Unitil’s management practices pertaining to its electric operations in Massachusetts and evaluate whether the Company is prepared to meet its public service obligations to its customers under all circumstances, including a significant power outage.
“We are pleased that a comprehensive and independent review has found Unitil’s management to be sound and prepared to meet our customers’ needs under any circumstance,” Robert Schoenberger, Unitil’s Chairman and Chief Executive Officer said. “I applaud our dedicated managers and employees who work hard to achieve our goals of providing safe, reliable and cost effective service to all of our customers. We look forward to working with the MDPU to implement the recommendations in the Audit Report.”
The scope of the audit involved a diagnostic review of the major functions of the Company including operations, internal controls, reliability, emergency response and communications. The Audit Report
(Continued on Next Page)
6 Liberty Lane West
Hampton, New Hampshire 03842
www.unitil.com
Ph: 603-772-0775 Fax: 603-773-6605
|
|
||
| PAGE 2 OF 2 | ||
found that following the 2008 ice storm, FG&E was responsive and undertook significant steps to improve overall performance, in particular communications and storm response. The Audit Report also found that Unitil has a strong focus on reliability and that in comparison to peer companies operating in New England, Unitil has “historically been clustered within the results of better performers.”
The report can be found it its entirety on Unitil’s website, www.unitil.com. The MDPU, which selected Jacobs Consultancy following a Request For Proposal administered by Unitil, has stated that it will evaluate the Audit Report and determine what, if any additional steps should be taken to address the audit findings.
About Unitil Corporation
Unitil Corporation provides the necessities of life, safely and reliably delivering natural gas and electricity throughout 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 100,500 electric customers and 70,000, natural gas customers. Other subsidiaries include Unitil Service Corp. and its non-regulated business segment doing business as Usource. For more information about our people, technologies, and community involvement please visit www.unitil.com.
# # #
For more information please contact:
Alec O’Meara
Media Relations Manager
Unitil Corporation
omeara@unitil.com
Phone: (603) 773-6404
Cell: (603) 998-9095