UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act 1934
Date of Report (Date of earliest event reported): May 30, 2014
UNITIL CORPORATION
(Exact name of registrant as specified in its charter)
| New Hampshire | 1-8858 | 02-0381573 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 6 Liberty Lane West, Hampton, New Hampshire | 03842-1720 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (603) 772-0775
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01 Regulation FD Disclosure
On May 30, 2014, the Massachusetts Department of Public Utilities (“MDPU”) issued an Order (the “Order”) approving an increase of $5.6 million in annual distribution revenue for the electric division of Fitchburg Gas and Electric Light Company (“Fitchburg” or the “Company”), Unitil Corporation’s Massachusetts electric and natural gas utility subsidiary. The $5.6 million in annual distribution revenue represents a 9.5% increase over 2012 electric division total operating revenue. The MDPU also approved a return on equity of 9.7% and a common equity ratio of 47.8%. Included in the amount of this annual increase is approximately $1.7 million for the recovery over a three year period of deferred storm costs related to three extraordinary storms: Tropical Storm Irene (2011), the October Snowstorm (2011) and Hurricane Sandy (2012). The increase in base distribution rates reflects the Company’s operating costs and investments in utility plant assets based on a test year ended December 31, 2012 as adjusted for known and measurable changes. The Order is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits
| (d) Exhibits |
| Number | Exhibit | |
| 99.1 | MDPU Order dated May 30, 2014 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| UNITIL CORPORATION | ||
| By: | /s/ Mark H. Collin | |
| Mark H. Collin Senior Vice President, Chief Financial Officer and Treasurer | ||
| Date: | June 3, 2014 | |
EXHIBIT INDEX
| Number | Exhibit | |
| 99.1 | MDPU Order dated May 30, 2014 | |