UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01 | Regulation FD Disclosure |
The final Order of the Maine Public Utilities Commission (“MPUC”), which was issued in two parts, to which Item 8.01 below refers, is attached as Exhibit 99.1 and Exhibit 99.2 to this Current Report on Form 8-K.
| Item 8.01 | Other Events |
The MPUC issued its final Order (the “Order”) in Docket No. 2019-00092, the distribution base rate case filed with the MPUC on June 28, 2019 by the Maine division of Northern Utilities, Inc. (the “Company”), Unitil Corporation’s natural gas utility subsidiary operating in Maine and New Hampshire. The Order was issued in two parts. Part I was issued on March 26, 2020 and Part II was issued on April 1, 2020.
The Order approves an increase in operating revenues of $3.6 million, effective April 1, 2020. The distribution base rate case is based on the Company’s operating costs and investments in utility plant for a test year ended December 31, 2018, as adjusted for known and measurable changes. The Order provides for a return on equity of 9.5 percent and a capital structure reflecting 50% equity and 50% long-term debt.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
| Number |
Exhibit | |||
| 99.1 |
Maine Public Utilities Commission Order (Part I) dated March 26, 2020 | |||
| 99.2 |
Maine Public Utilities Commission Order (Part II) dated April 1, 2020 | |||
| 104 |
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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/ Laurence M. Brock | |
| Laurence M. Brock | ||
| Senior Vice President, Chief Financial Officer and Treasurer | ||
Date: April 7, 2020