Unitil Files for Changes in Natural Gas Distribution Rates

Unitil Corporation UTL announced today that its local natural gas distribution utility recently filed two separate rate cases requesting approval to change its natural gas distribution base rates with the New Hampshire Public Utilities Commission and the Maine Public Utilities Commission. The filings represent the first rate case in approximately 10 years for Unitil's New Hampshire gas distribution operations and 28 years for its Maine gas distribution operations. In New Hampshire, the Company has requested an increase of $5.2 million in gas distribution base revenue, which represents an increase of approximately 8.1% over current operating revenue. In Maine, the Company has requested an increase of $10.1 million in gas distribution base revenue or an increase of approximately 16.7% over current operating revenue. Both filings include a proposed capital cost recovery tracking mechanism to recover the future costs associated with Unitil's cast iron and bare steel replacement programs. The rate case filings are subject to regulatory review and approval with final rate orders expected in the first half of 2012. Unitil has also requested temporary rates in both states. If approved, the temporary rate requests would go into effect in the third quarter of 2011, subject to refund or adjustment.