Unitil Files for a Change in Natural Gas Distribution Rates for New Hampshire Customers

Before you go, we thought you'd like these...
Before you go close icon

Unitil Files for a Change in Natural Gas Distribution Rates for New Hampshire Customers

HAMPTON, N.H.--(BUSINESS WIRE)-- Unitil Corporation (NYS: UTL) (www.unitil.com) announced today that its New Hampshire local natural gas distribution utility filed a rate case requesting approval to change its natural gas distribution base rates with the New Hampshire Public Utilities Commission.

Unitil has requested an increase of $5.2 million in base revenue, or an increase of approximately 9.4 percent over current operating revenue. This filing is subject to review by the New Hampshire Public Utilities Commission, and includes a request for temporary rates effective July 1, 2013. A final order on the filing is expected in mid-2014. If approved, the proposed filing would allow the recovery of costs associated with operational and safety-related improvements and upgrades Unitil is making to its gas distribution system in New Hampshire over the next several years.


"Currently, natural gas is approximately half the cost of oil, and our proposed rate case will not appreciably impact the cost advantage our customers enjoy," Unitil Chief Financial Officer Mark Collin said. "This rate case will provide an opportunity to bring revenues in line with current operating expenses and rate base, allowing us to continue to improve and expand Unitil gas distribution system in New Hampshire to meet the state's growing demand for natural gas."

About Unitil Corporation
Unitil Corporation provides for the necessities of life, safely and reliably delivering natural gas and electricity throughout northern 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 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 Corporation's operating utilities serve approximately 101,700 electric customers and 73,700, natural gas customers. Other subsidiaries include Unitil Service Corp. and Usource, a non-regulated business segment. For more information about our people, technologies, and community involvement please visit www.unitil.com.



Investor Relations
David Chong, 603-773-6499
chong@unitil.com
or
Media Relations
Alec O'Meara, 603-773-6404
omeara@unitil.com

KEYWORDS:   United States  North America  New Hampshire

INDUSTRY KEYWORDS:

The article Unitil Files for a Change in Natural Gas Distribution Rates for New Hampshire Customers originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners