Pennichuck Corporation Announces Rate Increases for Two of Its Regulated Utilities

Pennichuck Corporation PNNW today announced that the New Hampshire Public Utilities Commission has issued permanent rate orders approving rate settlement agreements in effect between the staff of the NHPUC and two of the Company's regulated utility subsidiaries, Pennichuck Water Works, Inc. and Pittsfield Aqueduct Company, Inc.. Taken together, these orders make effective a permanent annualized increase in revenues of approximately $3.0 million based on 2009 water usage volumes. The Pennichuck Water order, which was issued June 9, 2011, provides for an annualized increase in revenues of approximately $2.9 million, or 11.95%, for service rendered from June 2010, and replaces a temporary annualized increase of $2.6 million, or 10.8%, that has been in effect for service rendered from October 2010. The one-time recoupment of revenues back to June 2010 will be recorded in the current quarter.