EXHIBIT 11

UNITIL CORPORATION AND SUBSIDIARY COMPANIES

COMPUTATION OF EARNINGS PER WEIGHTED AVERAGE COMMON SHARE OUTSTANDING

(Millions except common shares and per share data)

(UNAUDITED)

	Three Months Ended September 30,					Nine Months Ended September 30,
	2009			2008		2009		2008
Net Income (Loss)	$	(0.6	)	$	1.5	$	8.8	$	6.5
Less: Dividend Requirements on Preferred Stock		—			—		0.1		0.1
Net Income Applicable to Common Stock	$	(0.6	)	$	1.5	$	8.7	$	6.4
Weighted Average Number of Common Shares Outstanding – Basic (000’s)		10,767			5,745		9,267		5,733
Dilutive Effect of Stock Options and Restricted Stock (000’s)		—			3		—		5
Weighted Average Number of Common Shares Outstanding – Diluted (000’s)		10,767			5,748		9,267		5,738
Earnings Per Share – Basic		($0.06	)	$	0.27	$	0.94	$	1.12
Earnings Per Share – Diluted		($0.06	)	$	0.27	$	0.94	$	1.12