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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM U-9C-3 QUARTERLY REPORT PURSUANT TO RULE 58 For the Quarter Ended March 31, 2001 UNITIL CORPORATION (Name of Registered Holding Company) 6 Liberty Lane West, Hampton, New Hampshire 03842-1720 (Address of principal executive offices) ITEM 1 - ORGANIZATION CHART Name of reporting company Energy or gas-related company Date of organization State of organization Percentage of voting securities held Nature of business Indentation indicates subsidiary relationship) Unitil Corporation Unitil Resources, Inc. Energy 5/26/93 NH 100% Energy Brokering & Consulting Services Description of Various Energy Brokering & Consulting Services Undertaken by Staff providing services under the activities listed below (unless otherwise indicated) are located at Unitil Service Corp. (Unitil Service), 6 Liberty Lane West, Hampton, NH 03842-1720, where most client work is performed. From time to time staff
visit other locations, predominately in New England, representing client interests. Energy Brokering and Consulting Services: Unitil Resources Inc. is Unitil Corporation's wholly-owned non-utility
subsidiary and has been authorized by the Securities and Exchange Commission,
pursuant to the rules and regulations of the 1935 Act, to engage in business
transactions as a competitive marketer of electricity, gas and other energy
commodities in wholesale and retail markets, and to provide energy brokering,
consulting and management related services within the United States. In April 2000, Unitil formed Usource, Inc. and Usource L.L.C. , collectively
"Usource", to operate its Internet-based brokering and related energy
products and services businesses. Usource, Inc. is a wholly owned subsidiary of
Unitil Resources, Inc. and an indirect subsidiary of Unitil Corporation. Usource,
Inc. is the sole member of Usource L.L.C. Usource is an Internet-based energy marketplace that provides customers
access to a customer-driven auction process for energy commodities and to a
suite of value-added energy products, services and tools. Usource runs on the
transactional-based software and energy commodity exchange developed and
licensed from Enermetrix.com (The "Exchange") to assist customers with
their energy procurement process and to ensure competitive, time-sensitive bids
from energy suppliers. Usource acts as a broker, not an energy supplier. The
Exchange provides energy suppliers with an Internet-based energy marketplace to
offer energy consumers products and services. Usource will also provide data and
information services to commercial and industrial customers desiring to control
their energy procurement process and manage their energy usage. The Federal Communications Commission has determined that Usource, Inc. and Usource LLC are exempt telecommunications companies, as that term is defined in PUHCA Section 34(a)(1), as amended. Accordingly, financial information for Usource, Inc. and
Usource LLC is not included in the financial statements that follow. ITEM 2 - ISSUANCES AND RENEWALS OF SECURITIES AND CAPITAL CONTRIBUTIONS Associate company advancing funds Reporting company receiving funds Type of transaction Net Change in contributions Unitil Corporation Unitil Resources Inc Capital contribution None ITEM 3 - ASSOCIATE TRANSACTIONS Part I - Transactions Performed by Reporting Companies on Behalf of Associate Companies None. Part II - Transactions Performed by Associate Companies on Behalf of Reporting Companies Associate company rendering services Reporting company receiving services Types of services rendered Direct costs charged Indirect costs charged Cost Total amount billed Unitil Service Corp Unitil Resources, Inc. Admin and General $234,526 $214,510 $0 $449,036 Staff involved in providing service to Unitil Resources, Inc. (Unitil Resources) are located at Unitil Service Corp. (Unitil Service). Service is provided to Unitil Resources pursuant to a service agreement between Unitil Service and Unitil Resources
dated July 1, 1993. Consulting services provided by Unitil Service during the first quarter of 2001 included regulatory, finance, accounting, marketing, energy management and administrative services. ITEM 4 - SUMMARY OF AGGREGATE INVESTMENT (Dollars in Thousands) Investments in Energy-related Companies: (1) Total consolidated capitalization as of March 31, 2001 $161,009 (2) Total capitalization multiplied by 15% 24,151 (3) Greater of $50 million or line 2 $50,000 Total current aggregate investment: Energy-related business: (4) Unitil Resources, Inc. 39 (5) Total current aggregate investment 39 Difference between the greater of $50 million or 15% of capitalization $49,961 Investments in Gas-related Companies $0 ITEM 5 - OTHER INVESTMENTS Major line of energy- Other investment in last U-9C-3 report Other investment in this U-9C-3 report Reason for difference in other investment Energy Brokering and Consulting $0 $0 n/a ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS A. Financial Statements - Page 1 of 2 Unitil Resources, Inc. (A Wholly-owned Subsidiary of Unitil Corporation) BALANCE SHEET (UNAUDITED)
ASSETS: March 31,2001 Investment in Associated Companies $8,186 Current Assets: Cash 99,047 Accounts Receivable 164,773 Accounts Receivable from Associated Companies 424,669 Total Current Assets 688,489 Total Assets $696,675 LIABILITIES AND STOCKHOLDERS EQUITY: Current Liabilities: Notes Payable $25,663 Accounts Payable 133,317 Taxes Accrued and Other 498,263 Total Current Liabilities 657,243 Stockholder's Equity: Common Stock, $1.00 par value Authorized - 10,000 shares Outstanding - 10,000 shares 100 Premium on Common Stock 9,900 Miscellaneous Paid in Capital 1,089,669 Retained Earnings (1,060,237) Total Stockholder's Equity 39,432 Total Liabilities and Equity $696,675 ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS A. Financial Statements - Page 2 of 2 Unitil Resources, Inc. (A Wholly-owned Subsidiary of Unitil Corporation) STATEMENT OF EARNINGS (
Unitil Resources Inc:
of capital
and the total aggregate investment of the registered holding company system (line 3 less line 5)
related business
Three Months Ended March 31, 2001 |
|
Revenues: |
|
Service Revenues to Associated Companies |
$110,973 |
Total Revenues |
110,973 |
Operating Expenses: |
|
Purchased Power |
(3,832) |
Depreciation and Amortization |
8,904 |
Administrative and General |
117,399 |
Provision for Income Taxes |
(4,473) |
Total Operating Expenses |
117,998 |
Operating (Loss) Income |
(7,025) |
Nonoperating Income |
0 |
Income (Loss) before Interest Expense |
(7,025) |
Interest Expense, net |
0 |
Net (Loss) Income |
($7,025) |
None.
SIGNATURE
Pursuant to the requirements of the Public Utility Holding Company Act of 1935, the undersigned company has duly caused this Certificate to be signed on its behalf by the undersigned thereunto duly authorized.
Unitil Corporation |
|
By: /s/ Mark H. Collin |
|
Mark H. Collin |
|
Treasurer |
Dated: May 30, 2001