Profile: Unitil Corp (UTL)
5 Feb 2016
Unitil Corporation (Unitil), incorporated on September 7, 1984, is a public utility holding company. Unitil’s is engaged in the local distribution of electricity and natural gas. The Company has three wholly owned distribution utilities: Unitil Energy Systems, Inc. (Unitil Energy), which provides electric service in the southeastern seacoast and state capital regions of New Hampshire, including the capital city of Concord; Fitchburg Gas and Electric Light Company (Fitchburg), which provides both electric and natural gas service in the greater Fitchburg area of north central Massachusetts, and Northern Utilities, Inc. (Northern Utilities), which provides natural gas service in southeastern New Hampshire and portions of southern and central Maine, including the city of Portland, in northern New England. The Company operates its business in three segments: utility gas operations, utility electric operations and non-regulated. Its wholly owned subsidiary, Granite State Gas Transmission, Inc. (Granite State) is an interstate natural gas transmission pipeline company that provides interstate natural gas pipeline access and transportation services to Northern Utilities in its New Hampshire and Maine service territory.
Unitil also has three other wholly owned subsidiaries: Unitil Service Corp. (Unitil Service), Unitil Realty Corp. (Unitil Realty), and Unitil Resources, Inc. (Unitil Resources). Unitil Service provides administrative and professional services, including regulatory, financial, accounting, human resources, engineering, operations, technology and energy supply management services on a centralized basis to its affiliated Unitil companies. Unitil Realty owns and manages the Company’s corporate office in Hampton, New Hampshire. Unitil Resources is the Company’s wholly owned non-regulated subsidiary. Usource, Inc. and Usource L.L.C. (collectively, Usource) are indirect subsidiaries that are wholly owned by Unitil Resources. Usource provides energy brokering and advisory services to commercial and industrial customers.
Natural Gas Operations
Unitil’s gas operations include gas distribution utility operations and interstate gas transmission pipeline operations. During the year ended December 31, 2014, Unitil’s gas operations were about 47% of its total operating revenue.
Natural Gas Distribution Utility Operations
Unitil’s natural gas distribution operations are conducted through two of the Company’s operating utilities, Northern Utilities and Fitchburg. The primary business of Unitil’s natural gas utility operations is the local distribution of natural gas to customers in its service territory in New Hampshire, Massachusetts and Maine. Natural gas is supplied and distributed by Northern Utilities to approximately 62,200 customers in 44 New Hampshire and southern Maine communities, from Plaistow, New Hampshire in the south to the city of Portland, Maine and then extending to Lewiston-Auburn, Maine in the north. Northern Utilities has a diversified customer base both in Maine and New Hampshire. Commercial businesses include healthcare, education, government and retail. Northern Utilities’ industrial base includes manufacturers in the auto, housing, rubber, printing, textile, pharmaceutical, electronics, wire and food production industries as well as a military installation.
Natural gas is supplied and distributed by Fitchburg to approximately 15,700 customers in the communities of Fitchburg, Lunenburg, Townsend, Ashby, Gardner and Westminster, all located in Massachusetts. Fitchburg’s industrial customers include paper manufacturing and paper products companies, rubber and plastics manufacturers, chemical products companies and printing, publishing and associated industries.
Gas Transmission Pipeline Operations
Granite State is an interstate natural gas transmission pipeline company, operating 86 miles of underground gas transmission pipeline primarily located in Maine and New Hampshire. Granite State provides Northern Utilities with interconnection to natural gas pipelines and access to domestic natural gas supplies in the south and Canadian natural gas supplies in the north. Granite State derives its revenues from the transportation services provided to Northern Utilities and to third-party marketers.
Electric Distribution Utility Operations
Unitil’s electric distribution operations are conducted through two of the Company’s utilities, Unitil Energy and Fitchburg. As of December 31, 2014, the Company’s electric utility operations were about 51% of its total operating revenue. The primary business of Unitil’s electric utility operations is the local distribution of electricity to customers in its service territory in New Hampshire and Massachusetts. Unitil Energy distributes electricity to approximately 74,100 customers in New Hampshire. Unitil Energy’s service territory consists of approximately 408 square miles. In addition, Unitil Energy’s service territory consists of retail trading and recreation centers for the central and south-eastern parts and includes the Hampton Beach recreational area. These areas serve commercial and industrial businesses, including manufacturing firms engaged in the production of electronic components, wires and plastics, healthcare and education.
Fitchburg is engaged in the distribution of both electricity and natural gas in the greater Fitchburg area of north central Massachusetts. Fitchburg’s service territory encompasses approximately 170 square miles. Electricity is supplied and distributed by Fitchburg to approximately 28,600 customers in the communities of Fitchburg, Ashby, Townsend and Lunenburg. Fitchburg’s industrial customers include paper manufacturing and paper products companies, rubber and plastics manufacturers, chemical products companies and printing, publishing and associated industries and educational institutions.
Non-Regulated and Other Non-Utility Operations
Unitil’s non-regulated operations are conducted through Usource, a subsidiary of Unitil Resources. Usource provides energy brokering and advisory services to commercial and industrial customers.
6 Liberty Ln W
HAMPTON NH 03842-1704