Unitil Files Basic Service Electric Rate Increase
Hampton, NH - (October 24, 2005): Unitil Corporation (AMEX:UTL) announced today that its
Massachusetts subsidiary filed revised Basic Service electric energy prices with the
Massachusetts Department of Telecommunications and Energy, based on a recently completed
competitive bidding process for wholesale electric energy supply contracts. If approved,
these new energy prices will take effect December 1, 2005.
A typical residential customer on Basic Service using 500 kWh per month will see a bill
increase from $76.25 to $99.79, or 31%. This price increase is similar to increases being
experienced by other utilities in the region and reflects the currently high market prices
for electricity that are driven by record prices for various fuels used to generate electricity
including natural gas and oil, which have more than doubled over the past year.
Basic Service is procured through a competitive bid process and the resulting prices are
passed through to customers without profit or mark up from the local distribution company.
"The United States is facing the most significant energy crisis in 30 years," said Unitil
CEO Bob Schoenberger. "In the short run, we must all do what we can to use energy wisely,
to minimize the economic impact. By conserving, customers can lower their bills and also
send a message to the marketplace that prices are too high. We have stepped up our efforts
to inform customers about how to better control their energy costs and to make sure we are
helping those most in need."
For information on how customers can conserve energy and control their energy costs, visit
the Unitil web site at www.unitil.com or contact Unitil's customer service center at
888-301-7700. Additionally, low income customers may qualify for Federal Fuel Assistance.
Contact the New England Farm Workers Council at 978-342-4520 for details. For those in
financial crisis who do not qualify for Federal Fuel Assistance, the Good Neighbor Energy
fund may help - contact the Salvation Army at 978-342-9407.
Unitil Corporation (AMEX:UTL) at www.unitil.com is a public utility holding company with
subsidiaries providing electric service in New Hampshire, electric and gas service in
Massachusetts and energy services throughout the Northeast.
Contact
George Gantz
gantz@unitil.comCorporate Office
Liberty Lane West
Hampton, NH 03842-1720
800/999-6501