HAMPTON, N.H., Sept. 18 /PRNewswire-FirstCall/ -- Unitil Corporation (AMEX:UTL) announced that its New Hampshire electric operating utility filed proposed Default Service electric supply rates and other rate changes with the New Hampshire Public Utilities Commission for their approval. If approved, the new rates will go into effect on November 1.
Overall, the electric bill for a typical residential customer using 500 kWh per month will decrease from $76.28 to $75.68, or 0.8%. Small to medium size business customers will experience similar decreases of about 0.8% in their electric bill depending on their usage. Default Service rates for residential and small to medium commercial customers are adjusted every six months based on the results of a wholesale electricity supply solicitation and procurement process.
Large business customers who take Default Service from Unitil will see overall bill increases of about 9%; however, most of Unitil's large business customers are buying their electric supply directly from the competitive market and are not affected by this rate change. Default Service rates for large business customers change monthly based on new wholesale supply contracts that are separately procured for this customer class on a quarterly basis.
Default Service electric supply, which Unitil purchases on behalf of its customers, is passed along at actual cost, with no profit or mark up by the utility. These purchases are conducted through competitive bids under the supervision of state regulators with the goal of providing the lowest available prices to customers.
Unitil Corporation 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: Stephanye Schuyler
Phone: 603-773-6569
Fax: 603-773-6769
DATASOURCE: Unitil Corporation CONTACT: Stephanye Schuyler of Unitil Corporation, +1-603-773-6569, or +1-603-773-6769 (fax) Web site: http://www.unitil.com/
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