Unitil Sees Slight Drop In Profits
Unitil Corp., which provides natural gas and electricity to parts of North Central Massachusetts, saw its third-quarter profits decline slightly, from $1.6 million in 2007 to $1.5 million this year.
The Hampton, N.H.-based company's electric sales margin rose from $14.2 million to $14.3 million, reflecting higher electric base rates partially offset by lower sales volumes. Its gas sales margin rose from $1.8 million to $2 million thanks to higher base rates and higher sales to commercial and industrial customers.
Still, the company said higher operating expenses and interest expenses pushed profits down.
In Massachusetts, Unitil distributes electricity to 28,000 customers in Fitchburg, Townsend, Lunenburg and Ashby, and natural gas to 15,000 customers in Fitchburg, Townsend, Lunenburg, Ashby, Westminster and Gardner.
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