Profile: Unitil Corp (UTL)
19 Oct 2018
Unitil Corporation (Unitil), incorporated on September 7, 1984, is a public utility holding company. The Company's principal business is the local distribution of electricity in the southeastern seacoast and state capital regions of New Hampshire and the greater Fitchburg area of north central Massachusetts and the local distribution of natural gas in southeastern New Hampshire, portions of southern Maine to the Lewiston-Auburn area and in the greater Fitchburg area of north central Massachusetts. The Company operates through three segments: utility gas operations, utility electric operations and non-regulated. As of December 31, 2016, the Company was engaged in the distribution of electricity and natural gas to approximately 184,200 customers throughout its service territories in the states of New Hampshire, Massachusetts and Maine.
The Company is a parent company of three 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. As of December 31, 2016, together, Unitil's three distribution utilities served approximately 104,300 electric customers and 79,900 natural gas customers.
The Company's other subsidiaries include Unitil Service Corp. (Unitil Service), Unitil Realty Corp. (Unitil Realty), and Unitil Resources, Inc. (Unitil Resources). Unitil Service provides a range of 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 non-regulated subsidiary. Usource, Inc. and Usource L.L.C. (collectively, Usource) are indirect subsidiaries that are owned by Unitil Resources. Usource provides energy brokering and advisory services to commercial and industrial customers.
Natural Gas Operations
Unitil's natural gas operations include gas distribution utility operations and interstate gas transmission pipeline operations. As of December 31, 2016, the Company's natural gas operations property included two liquid propane gas plants and two liquid natural gas plants. Northern Utilities also owns a propane air gas plant and a liquefied natural gas (LNG) storage and vaporization facility. Fitchburg owns a propane air gas plant and an LNG storage and vaporization facility, both of which are located on land owned by Fitchburg in north central Massachusetts.
Natural Gas Distribution Utility Operations
Unitil's natural gas distribution operations are conducted through its operating utilities, such as 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 territories in New Hampshire, Massachusetts and Maine. As of December 31, 2016, the natural gas is distributed by Northern Utilities to 64,144 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' industrial base includes manufacturers in the auto, housing, rubber, printing, textile, pharmaceutical, electronics, wire and food production industries, as well as a military installation. As of December 31, 2016, the natural gas was distributed by Fitchburg to 15,794 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
Unitil is the parent company of Granite State Gas Transmission, Inc. (Granite State), which is an interstate natural gas transmission pipeline company. Granite State provides interstate natural gas pipeline access and transportation services to Northern Utilities in its New Hampshire and Maine service territory. As of December 31, 2016, Granite State operated 86 miles of underground gas transmission pipeline primarily located in Maine and New Hampshire. 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 its utilities, such as Unitil Energy and Fitchburg. 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. As of December 31, 2016, Unitil Energy distributed electricity to 75,273 customers in New Hampshire in the capital city of Concord, as well as parts of 12 surrounding towns and all or part of 18 towns in the southeastern and seacoast regions of New Hampshire, including the towns of Hampton, Exeter, Atkinson and Plaistow. As of December 31, 2016, Unitil Energy's service territory consisted 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 of the state 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. As of December 31, 2016, Fitchburg's service territory consisted of approximately 170 square miles. As of December 31, 2016, electricity was distributed by Fitchburg to 28,999 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, printing, publishing and associated industries and educational institutions.
Non-Regulated and Other Non-Utility Operations
Unitil's non-regulated operations are conducted through Usource. Usource provides energy brokering and advisory services to commercial and industrial customers.
6 Liberty Ln W
HAMPTON NH 03842-1704