Hampton, NH – September 18, 2000: Unitil Corporation (AMEX: UTL) (www.unitil.com) today announced that its wholly owned subsidiary, Unitil/Fitchburg Gas and Electric Light Company (FG&E) filed a for a gas rate increase with the Massachusetts Department of Energy and Telecommunications (MDTE). Pending MDTE approval, the proposed rates would go into effect from November 1, 2000 – April 30, 2001.
A typical residential heating customer using 146 therms of gas per month will see an increase of $14.11 or 11.5% over last winter’s rates. Similar impacts will be seen for commercial and industrial customers. The increase is primarily a result of increased commodity costs of purchased gas.
"In this period of rapidly escalating energy prices, FG&E is working hard to moderate increases in our customers’ winter gas bills," said Unitil President Mike Dalton.
These charges are normally adjusted every six months to reflect changes in wholesale supply costs that are incurred by the Company to provide gas energy to retail customers. Supply costs are passed onto the customers without any mark ups from the Company. FG&E residential gas rates continue to be among the lowest in Massachusetts.
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 Concord Electric Company, Exeter & Hampton Electric Company, Fitchburg Gas and Electric Light Company, Unitil Power Corp., Unitil Realty Corp., Unitil Service Corp. and its unregulated business unit Unitil Resources, Inc. Usource L.L.C. is a subsidiary of Unitil Resources, Inc. The Usource product line is available at www.usourceonline.com
For more information, visit Unitil at www.unitil.com or call Stephanye Schuyler at 603-773-6465.
Contact
Stephanye Schuyler
schuyler@unitil.com
Corporate Office
Liberty Lane West
Hampton, NH 03842-1720
800/999-6501
