Exhibit 11.1

UNITIL CORPORATION

COMPUTATION IN SUPPORT OF EARNINGS PER SHARE

	Year Ended December 31,
	2006		2005		2004
EARNINGS PER SHARE (000’s, except per share data)
Net Income	$	8,033	$	8,553	$	8,226
Less: Dividend Requirements on Preferred Stock		133		156		215
Net Income Applicable to Common Stock	$	7,900	$	8,397	$	8,011
Average Number of Common Shares Outstanding—Basic		5,597		5,551		5,509
Dilutive Effect of Stock Options and Restricted Stock		15		17		16
Average Number of Common Shares Outstanding—Diluted		5,612		5,568		5,525
Earnings Per Share—Basic	$	1.41	$	1.51	$	1.45
Earnings Per Share—Diluted	$	1.41	$	1.51	$	1.45