UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act 1934
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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:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01 | Regulation FD Disclosure |
On December 17, 2019, Unitil Corporation (“Unitil” or “Registrant”) issued a press release announcing that its Massachusetts gas and electric distribution utility, Fitchburg Gas and Electric Light Company, filed separate rate cases for its gas and electric divisions with the Massachusetts Department of Public Utilities requesting approval to change distribution rates. A copy of the 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
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| 99.1 |
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| 104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||
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/ Christine L. Vaughan | |
| Christine L. Vaughan | ||
| Senior Vice President, Chief Financial Officer and Treasurer | ||
| Date: |
December 18, 2019 | |
Exhibit 99.1
FOR RELEASE
UNITIL FILES FOR A CHANGE IN GAS AND ELECTRIC DISTRIBUTION RATES FOR MASSACHUSETTS CUSTOMERS
HAMPTON, N.H., DECEMBER 17, 2019 — Unitil Corporation (NYSE: UTL) (www.unitil.com) announced today that its Massachusetts gas and electric distribution utility, Fitchburg Gas and Electric Light Company d/b/a Unitil, filed separate rate cases for its gas and electric divisions with the Massachusetts Department of Public Utilities (“Department”) requesting approval to change distribution rates. If approved, the new rates would become effective no later than Nov. 1, 2020 following a comprehensive review by the Department.
Unitil requested a gas rate increase of $7.3 million, or 20.8 percent, over total gas operating revenue. For the electric division, the Company has requested an electric rate increase of $2.7 million, or 4.1 percent, over total electric operating revenue. The gas and electric distribution rate increases are driven by expenditures to replace aging infrastructure and enhance system reliability and by higher operating costs.
A typical residential electric customer using an average of 562 kWh a month would see an increase of $4.00 per month or 2.5 percent. A typical residential gas customer using an average of 70 therms a month would see an increase of $30.63 per month or 23.8 percent. Impacts on other individual customers will vary depending upon rate class and usage characteristics.
About Unitil Corporation
Unitil Corporation provides energy for life by safely and reliably delivering natural gas and electricity in 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 operations in Maine, New Hampshire and Massachusetts. Together, Unitil’s operating utilities serve approximately 105,600 electric customers and 82,700 natural gas customers. For more information about our people, technologies and community involvement please visit www.unitil.com.
For more information please contact:
| Todd Diggins – Investor Relations | Alec O’Meara – Media Relations | |
| Phone: 603-773-6504 | Phone: 603-773-6404 | |
| Email: diggins@unitil.com | Email: omeara@unitil.com |
6 Liberty Lane West
Hampton, NH 03842
T 603.772.0775
www.unitil.com