Unitil Corp 8-K, filed Aug 23, 2023
Unitil Corp (UTL)
About this 8-K
Unitil Corp filed this 8-K on August 23, 2023, reporting on events of August 17, 2023.
Items reported
- Item 7.01: Regulation FD disclosure
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Item 7.01 Regulation FD Disclosure
On August, 17, 2023, Unitil Corporation’s (NYSE: UTL) (www.unitil.com) Massachusetts subsidiary, Fitchburg Gas and Electric Light Company (“Fitchburg”), filed electric and gas base rate cases with the Massachusetts Department of Public Utilities (the “Department”) requesting approval to change distribution rates for all customers.
In D.P.U. Docket 23-80, Fitchburg is requesting an increase in electric rates designed to address an approximate $6.8 million revenue deficiency, which includes the roll-in of investments and expenses previously approved for recovery through existing rate mechanisms. Net of these adjustments, Fitchburg’s requested electric revenue deficiency is approximately $4.1 million.
In D.P.U. Docket 23-81, Fitchburg is requesting an increase in gas rates designed to address an approximate $10.8 million revenue deficiency, which includes a roll-in of certain revenue requirements associated with Gas System Enhancement Program (“GSEP”) investments previously approved in Fitchburg’s GSEP Reconciliation proceedings. Net of these adjustments, Fitchburg’s requested gas revenue deficiency is approximately $6.8 million.
Fitchburg’s filings include proposals for the adoption of Performance Based Ratemaking (PBR) for its electric and gas operations. These filings will be subject to comprehensive review by the Department in base rate case proceedings that are expected to last several months. Fitchburg’s last base rate cases were filed in 2019.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| UNITIL CORPORATION | ||
| By: | /s/ Daniel J. Hurstak | |
| Daniel J. Hurstak | ||
| Senior Vice President, Chief Financial Officer and Treasurer | ||
| Date: | August 23, 2023 | |