SECURITIES AND EXCHANGE COMMISSION
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Item 7.01 Regulation FD Disclosure
On April 2, 2021, Unitil Corporation (“Unitil” or “Registrant”) issued a press release announcing that its electric distribution utility, Unitil Energy Systems, Inc., filed a rate case requesting approval to change its electric distribution base rates with the New Hampshire Public Utilities Commission. 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
|99.1||Press Release dated April 2, 2021.|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document)|
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.
|Robert B. Hevert|
|Senior Vice President, Chief Financial Officer and Treasurer|
Date: April 5, 2021
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Unitil Files for a Change in Electric Distribution Rates for New Hampshire Customers
HAMPTON, N.H., APRIL 2, 2021 Unitil Corporation (NYSE: UTL) (www.unitil.com) announced today that its New Hampshire electric distribution utility, Unitil Energy Systems, Inc., (UES or the Company) filed a base rate case with the New Hampshire Public Utilities Commission (the Commission) requesting approval to change distribution rates for all customers. This filing will be subject to comprehensive review by the Commission in a base rate case proceeding that may last up to a year or more. The Companys last base rate case was filed in 2016.
UESs multi-year rate filing includes proposed initiatives to advance New Hampshires energy, environmental, and regulatory policies, and to enable customers to adopt new technologies and better manage their energy consumption. Those proposals include foundational investments needed to modernize the electric grid, time of use rates for electric vehicle charging and other residential uses, an electric vehicle infrastructure development program, a revenue decoupling mechanism, resiliency programs to further the Companys commitment to reliability, and an arrearage management program for customers experiencing difficulty in paying their energy bills. The Companys proposal also includes certain provisions intended to mitigate the rate filings effect on customer rates, and to limit future rate increases.
UES requested an electric base rate increase of $11.99 million, or 4.4 percent over total annual revenue at present rates. If the rates are approved as filed, the typical residential electric customer using an average of 600 kWh a month would see an increase of $9.87 per month, or 8.2 percent. Effects on individual customers will vary depending on 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 the delivery of dependable, more efficient energy. Unitil Corporation is a public utility holding company with operations in Maine, New Hampshire and Massachusetts. Together, Unitils operating utilities serve approximately 107,100 electric customers and 85,600 natural gas customers. For more information about our people, technologies, and community involvement please visit www.unitil.com.
6 Liberty Lane West
Hampton, NH 03842
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For more information please contact:
Todd Diggins Investor Relations
Alec OMeara Media Relations
6 Liberty Lane West
Hampton, NH 03842