Unitil/FG&E Supports Electric Rate Reductions.FITCHBURG, Mass.--(BUSINESS WIRE)--July 2, 1998--As the next step toward transitioning to a fully competitive electric market place, Unitil/Fitchburg Gas & Electric Light Company (Unitil/FG&E) today filed an initial brief recommending approval of its Electric Restructuring Plan with the Massachusetts Department of Telecommunications and Energy (MDTE MDTE Massachusetts Department of Telecommunications and Energy )."By reducing electric rates 10% on March 1, 1998, with an additional 5% reduction to follow in 1999, and by introducing Customer Choice and proceeding with divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of our electric supply resources, we have demonstrated substantial compliance with the electric restructuring legislation," said Senior Vice President George Gantz. "Within five weeks after the legislation became effective, Unitil/FG&E filed a comprehensive restructuring plan with the MDTE, and within two months of that filing, on March 1, 1998, we implemented entirely new rates, services and systems to support restructuring," said George Gantz. "This transition has been unprecedented for the Company, the Commonwealth and the electric industry. Unitil/FG&E's efforts were propelled by our employees' commitment to bringing the benefits of restructuring to our customers quickly and effectively." Unitil (AMEX AMEX See: American Stock Exchange :UTL UTL Utility UTL Universidade Técnica de Lisboa (Portugal) UTL University of Toronto Libraries (Canada) UTL Unable To Locate UTL Universal Task List UTL Upper Tolerance Limit UTL Unit Transmittal Letter ) is a public utility holding company system based in New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). , whose subsidiary Fitchburg Gas and Electric Light Company provides electric and gas service in Massachusetts. Unitil's other utility subsidiaries include Concord Electric Company and Exeter & Hampton Electric Company, which provide electric service in New Hampshire. Other subsidiaries include Unitil Resources Inc., Unitil Power Corp., Unitil Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Corp. and Unitil Service Corp.
CONTACT: Unitil
George Gantz, 603/772-0775
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