Unitil's $9M gas rate hike approved
After six months of proceedings, state regulators have approved a nearly $9 million increase in Unitil's natural gas distribution rates.
The Maine Public Utilities Commission this week approved a settlement that allows Unitil to raise rates by $8.96 million for its customers in southern Maine, according to a press release. The settlement between Unitil, the Office of the Public Advocate and customer groups raises average residential customer rates 15.8%, or about $20.50 per bill during the winter, and commercial and industrial customer rates between 5% and 15%. The rate increase -- the first the company has requested in 28 years -- gives Unitil a 47% increase in its base distribution revenues and 16.7% increase in its overall operating revenues, according to the release from the PUC. Unitil serves about 26,000 customers.
According to PUC Chairman Thomas Welch, "these increases are needed to bring Unitil's revenues in line with its cost of providing safe and adequate service." The PUC directed Unitil to inform customers of the company's low-income support program.
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