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UTL > SEC Filings for UTL > Form 8-K on 2-May-2013All Recent SEC Filings

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Form 8-K for UNITIL CORP


Regulation FD Disclosure, Financial Statements and Exhibits

Item 7.01 Regulation FD Disclosure

On April 29, 2013, the New Hampshire Public Utilities Commission ("NHPUC") issued an Order in Docket No. DE 13-065, approving the second annual step increase under the long term rate plan of Unitil Energy Systems, Inc. ("Unitil Energy" or the "Company"), Unitil Corporation's electric distribution utility subsidiary.

The NHPUC's Order allows Unitil Energy to increase its distribution base revenue $2.8 million on an annual basis for effect May 1, 2013. Approximately $1.7 million of the increase in base revenue is associated with the recovery of utility plant additions made during the calendar year 2012. In addition, $0.7 million of the increase in base revenue is associated with increased spending for its vegetation management and reliability enhancement programs, and $0.4 million of the increase is associated with an increase in its storm reserve fund which will result in a corresponding increase in operations and maintenance expense.

On April 25, 2013, the NHPUC also issued an Order in Docket No. DE 13-084 allowing Unitil Energy to increase its storm recovery adjustment factor to recover previously deferred storm costs of $2.3 million, which were incurred to restore power and repair damage to the Company's electrical system resulting from Superstorm Sandy. The NHPUC's Order approves the recovery of costs associated with Superstorm Sandy over a five-year period with carrying charges at the Company's long-term cost of debt, net of deferred taxes, or 4.52% to be applied to the uncollected balance through the recovery period.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

                    Number   Exhibit

                    99.1     NHPUC Order dated April 29, 2013

                    99.2     NHPUC Order dated April 25, 2013

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