-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AWEd9H9mcEG0/jymH8LH5eHMBUmv82OG/g41JXIEL7SEm5dgMsSGuYZo7mQVMIdn QkH4ZwrhcKRVFsOx1+rw9A== 0001171200-10-000625.txt : 20100628 0001171200-10-000625.hdr.sgml : 20100628 20100628135331 ACCESSION NUMBER: 0001171200-10-000625 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100430 FILED AS OF DATE: 20100628 DATE AS OF CHANGE: 20100628 EFFECTIVENESS DATE: 20100628 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK UTILITIES & TELECOMMUNICATIONS FUND, INC. CENTRAL INDEX KEY: 0000868452 IRS NUMBER: 223072498 STATE OF INCORPORATION: MA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06180 FILM NUMBER: 10919545 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH UTILITIES & TELECOMMUNICATIONS FUND INC DATE OF NAME CHANGE: 20020325 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH UTILITIES & COMMUNICATIONS FUND INC DATE OF NAME CHANGE: 20020307 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH GLOBAL UTILITY FUND INC DATE OF NAME CHANGE: 19920703 0000868452 S000002249 BLACKROCK UTILITIES & TELECOMMUNICATIONS FUND, INC. C000005810 Investor A C000005811 Investor B1 C000005812 Investor C1 C000005813 Institutional C000038212 Investor B C000038213 Investor C N-Q 1 i00279_utilcomm-nq.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number 811-06180

 

Name of Fund: BlackRock Utilities & Telecommunications Fund, Inc.

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock Utilities & Telecommunications Fund, Inc., 55 East 52nd Street, New York, NY 10055.

 

Registrant’s telephone number, including area code: (800) 441-7762

 

Date of fiscal year end: 07/31/2010

 

Date of reporting period: 04/30/2010

 

Item 1 – Schedule of Investments

 


 

 


 

Schedule of Investments April 30, 2010 (Unaudited)

BlackRock Utilities and Telecommunications Fund, Inc.
(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Common Stocks

 

 

Shares

 

 

Value

 









Commercial Services & Supplies — 0.8%

 

 

 

 

 

 

 

Tetra Tech, Inc. (a)

 

 

33,700

 

$

820,595

 









 

 

 

 

 

 

 

 

Construction & Engineering — 0.2%

 

 

 

 

 

 

 

Bouygues

 

 

4,900

 

 

242,794

 









 

 

 

 

 

 

 

 

Diversified Telecommunication Services — 10.6%

 

 

 

 

 

 

 

AT&T Inc.

 

 

126,962

 

 

3,308,630

 

BCE, Inc.

 

 

32,500

 

 

978,250

 

Cable & Wireless
Communications Plc

 

 

100,500

 

 

94,953

 

Cable & Wireless Worldwide

 

 

100,500

 

 

132,858

 

CenturyTel, Inc.

 

 

13,000

 

 

443,430

 

Deutsche Telekom AG

 

 

25,700

 

 

334,621

 

France Telecom SA

 

 

14,800

 

 

323,997

 

Qwest Communications
International, Inc.

 

 

303,700

 

 

1,588,351

 

Swisscom AG

 

 

1,100

 

 

373,299

 

Telefonica SA

 

 

40,948

 

 

926,868

 

Verizon Communications, Inc.

 

 

69,300

 

 

2,002,077

 

Windstream Corp.

 

 

39,141

 

 

432,508

 

 

 

 

 

 




 

 

 

 

 

 

10,939,842

 









Electric Utilities — 34.3%

 

 

 

 

 

 

 

American Electric Power Co., Inc.

 

 

106,000

 

 

3,635,800

 

CEZ AS

 

 

5,600

 

 

268,523

 

CPFL Energia SA - ADR

 

 

6,200

 

 

385,578

 

Cia Energetica de Minas
Gerais - ADR

 

 

47,451

 

 

766,329

 

Cleco Corp.

 

 

13,500

 

 

369,900

 

DPL, Inc.

 

 

75,000

 

 

2,113,500

 

Duke Energy Corp.

 

 

126,132

 

 

2,116,495

 

E.ON AG

 

 

7,900

 

 

291,334

 

EDP - Energias do Brasil SA

 

 

33,200

 

 

635,064

 

Edison International

 

 

44,400

 

 

1,526,028

 

Electricite de France SA

 

 

9,200

 

 

493,064

 

Entergy Corp.

 

 

43,600

 

 

3,544,244

 

Exelon Corp.

 

 

24,600

 

 

1,072,314

 

FPL Group, Inc.

 

 

77,300

 

 

4,023,465

 

FirstEnergy Corp.

 

 

39,700

 

 

1,503,439

 

ITC Holdings Corp.

 

 

49,500

 

 

2,763,585

 

Iberdrola SA

 

 

113,000

 

 

896,774

 

NV Energy, Inc.

 

 

17,100

 

 

213,579

 

Northeast Utilities, Inc.

 

 

30,700

 

 

853,153

 

PPL Corp.

 

 

89,500

 

 

2,216,020

 

Pinnacle West Capital Corp.

 

 

9,900

 

 

369,666

 

Progress Energy, Inc.

 

 

20,600

 

 

822,352

 

The Southern Co.

 

 

106,700

 

 

3,687,552

 

Westar Energy, Inc.

 

 

30,100

 

 

713,069

 

 

 

 

 

 




 

 

 

 

 

 

35,280,827

 









Gas Utilities — 5.1%

 

 

 

 

 

 

 

EQT Corp.

 

 

17,500

 

 

761,075

 

Energen Corp.

 

 

22,000

 

 

1,075,140

 

New Jersey Resources Corp.

 

 

20,400

 

 

769,692

 

Questar Corp.

 

 

44,400

 

 

2,128,980

 

 

 

 

 

 

 

 

 

Common Stocks

 

Shares

 

Value

 







Gas Utilities (concluded)

 

 

 

 

 

 

 

UGI Corp.

 

 

19,000

 

$

522,310

 

 

 

 

 

 




 

 

 

 

 

 

5,257,197

 









Independent Power Producers & Energy Traders — 7.7%

 

 

 

 

 

 

 

The AES Corp. (a)

 

 

62,900

 

 

725,866

 

AES Tiete SA (Preference Shares)

 

 

42,300

 

 

472,339

 

Calpine Corp. (a)

 

 

26,300

 

 

358,469

 

Constellation Energy Group, Inc.

 

 

72,800

 

 

2,573,480

 

International Power Plc

 

 

132,500

 

 

670,676

 

NRG Energy, Inc. (a)

 

 

129,400

 

 

3,127,598

 

 

 

 

 

 




 

 

 

 

 

 

7,928,428

 









Internet Software & Services — 0.5%

 

 

 

 

 

 

 

Equinix, Inc. (a)

 

 

4,600

 

 

462,990

 









Media — 0.8%

 

 

 

 

 

 

 

Comcast Corp., Special, Class A

 

 

43,100

 

 

812,435

 









Multi-Utilities — 18.1%

 

 

 

 

 

 

 

CMS Energy Corp.

 

 

96,600

 

 

1,570,716

 

CenterPoint Energy, Inc.

 

 

54,100

 

 

776,876

 

Centrica Plc

 

 

113,000

 

 

507,579

 

Consolidated Edison, Inc.

 

 

31,600

 

 

1,428,320

 

DTE Energy Co.

 

 

9,000

 

 

433,530

 

Dominion Resources, Inc.

 

 

94,174

 

 

3,936,473

 

NSTAR

 

 

26,200

 

 

958,920

 

PG&E Corp.

 

 

54,500

 

 

2,387,100

 

Public Service Enterprise Group,
Inc.

 

 

89,800

 

 

2,885,274

 

RWE AG

 

 

4,500

 

 

370,162

 

Sempra Energy

 

 

24,900

 

 

1,224,582

 

United Utilities Group Plc

 

 

61,400

 

 

502,456

 

Wisconsin Energy Corp.

 

 

19,100

 

 

1,002,941

 

Xcel Energy, Inc.

 

 

30,000

 

 

652,500

 

 

 

 

 

 




 

 

 

 

 

 

18,637,429

 









Oil & Gas Exploration & Production — 3.1%

 

 

 

 

 

 

 

Cabot Oil & Gas Corp., Class A

 

 

12,000

 

 

433,560

 

Devon Energy Corp.

 

 

10,000

 

 

673,300

 

EOG Resources, Inc.

 

 

8,400

 

 

941,808

 

Range Resources Corp.

 

 

8,200

 

 

391,632

 

Southwestern Energy Co. (a)

 

 

17,600

 

 

698,368

 

 

 

 

 

 




 

 

 

 

 

 

3,138,668

 









Oil, Gas & Consumable Fuels — 1.8%

 

 

 

 

 

 

 

PetroHawk Energy Corp. (a)

 

 

16,600

 

 

358,394

 

Spectra Energy Corp.

 

 

50,116

 

 

1,169,708

 

Talisman Energy, Inc.

 

 

19,500

 

 

332,280

 

 

 

 

 

 




 

 

 

 

 

 

1,860,382

 









Utilities — 1.1%

 

 

 

 

 

 

 

Williams Cos., Inc.

 

 

46,900

 

 

1,107,309

 









Water Utilities — 2.1%

 

 

 

 

 

 

 

American States Water Co.

 

 

3,400

 

 

126,888

 


 

 


Portfolio Abbreviation


 

 

ADR

American Depositary Receipts


 

 

 




BLACKROCK UTILITIES AND TELECOMMUNICATIONS FUND, INC.

APRIL 30, 2010

1




 

 


 

Schedule of Investments (continued)

BlackRock Utilities and Telecommunications Fund, Inc.
(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Common Stocks

 

Shares

 

Value

 







Water Utilities (concluded)

 

 

 

 

 

 

 

American Water Works Co, Inc.

 

 

42,000

 

$

914,760

 

Aqua America, Inc.

 

 

31,500

 

 

577,395

 

California Water Service Group

 

 

14,200

 

 

549,966

 

Cia Saneamento
(Preference Shares) (a)(b)

 

 

314

 

 

 

 

 

 

 

 




 

 

 

 

 

 

2,169,009

 









Wireless Telecommunication Services — 7.9%

 

 

 

 

 

 

 

America Movil, SA de CV - ADR

 

 

24,000

 

 

1,235,520

 

American Tower Corp., Class A (a)

 

 

14,200

 

 

579,502

 

Cellcom Israel Ltd.

 

 

18,000

 

 

545,400

 

Crown Castle International
Corp. (a)

 

 

17,500

 

 

662,375

 

Millicom International Cellular SA

 

 

8,000

 

 

706,240

 

NII Holdings, Inc. (a)

 

 

9,600

 

 

407,232

 

Rogers Communications, Inc.,
Class B

 

 

16,000

 

 

570,349

 

SBA Communications Corp.,
Class A (a)

 

 

37,700

 

 

1,333,449

 

Sprint Nextel Corp. (a)

 

 

99,200

 

 

421,600

 

Vivo Participacoes SA - ADR

 

 

13,200

 

 

349,404

 

Vodafone Group Plc - ADR

 

 

58,812

 

 

1,305,626

 

 

 

 

 

 




 

 

 

 

 

 

8,116,697

 









Total Long-Term Investments
(Cost – $72,733,956) – 94.1%

 

 

 

 

 

96,774,602

 









 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

Short-Term Securities

 

 

 

 

 

 

 









BlackRock Liquidity Funds,
TempCash, Institutional Class,
0.15% (c)(d)

 

 

6,151,609

 

 

6,151,609

 









Total Short-Term Securities
(Cost – $6,151,609) – 6.0%

 

 

 

 

 

6,151,609

 









Total Investments
(Cost – $78,885,565*) – 100.1%

 

 

 

 

 

102,926,211

 

Liabilities in Excess of Other Assets – (0.1)%

 

 

 

 

 

(134,617

)

 

 

 

 

 




Net Assets – 100.0%

 

 

 

 

$

102,791,594

 

 

 

 

 

 





 

 

*

The cost and unrealized appreciation (depreciation) of investments as of April 30, 2010, as computed for federal income tax purposes, were as follows:


 

 

 

 

 

 

 

Aggregate cost

 

$

79,083,184

 

 

 

 




 

Gross unrealized appreciation

 

$

24,586,011

 

 

Gross unrealized depreciation

 

 

(742,984

)

 

 

 




 

Net unrealized appreciation

 

$

23,843,027

 

 

 

 





 

 

(a)

Non-income producing security.

 

 

(b)

Convertible security.

 

 

(c)

Investments in companies considered to be an affiliate of the Fund during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 











 

Affiliate

 

Shares Held
at
July 31,
2009

 

Net
Activity

 

Shares Held
at
April 30,
2010

 

Income

 

 











 

BlackRock
Liquidity Funds,
TempCash,
Institutional
Class

 

 

 

 

6,151,609

 

 

6,151,609

 

$

4,260

 

 















 

BlackRock
Liquidity Funds,
TempFund,
Institutional
Class

 

 

6,841,531

 

 

(6,841,531

)

 

 

 

 

 
















 

 

 

(d)

Represents the current yield as of report date.

 

 

For Fund compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

 

 

Fair Value Measurements - Various inputs are used in determining the fair value of investments, which are as follows:

 

 

 

Level 1 — price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market- corroborated inputs)

 

 

 

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments)

 

 

 

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its semi-annual report.


 

 

 




2

BLACKROCK UTILITIES AND TELECOMMUNICATIONS FUND, INC.

APRIL 30, 2010




 

 


 

Schedule of Investments (concluded)

BlackRock Utilities and Telecommunications Fund, Inc.

The following table summarizes the inputs used as of April 30, 2010 in determining the fair valuation of the Fund’s investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in Securities


Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 


Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stocks:

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial
Services & Supplies

 

$

820,595

 

 

 

 

 

 

820,595

 

Construction &
Engineering

 

 

 

$

242,794

 

 

 

 

242,794

 

Diversified
Telecommunication
Services

 

 

9,315,678

 

 

1,624,164

 

 

 

 

10,939,842

 

Electric Utilities

 

 

33,331,132

 

 

1,949,695

 

 

 

 

35,280,827

 

Gas Utilities

 

 

5,257,197

 

 

 

 

 

 

5,257,197

 

Independent Power
Producers & Energy
Traders

 

 

7,257,752

 

 

670,676

 

 

 

 

7,928,428

 

Internet Software &
Services

 

 

462,990

 

 

 

 

 

 

462,990

 

Media

 

 

812,435

 

 

 

 

 

 

812,435

 

Multi-Utilities

 

 

17,257,232

 

 

1,380,197

 

 

 

 

18,637,429

 

Oil & Gas
Exploration &
Production

 

 

3,138,668

 

 

 

 

 

 

3,138,668

 

Oil, Gas &
Consumable Fuels

 

 

1,860,382

 

 

 

 

 

 

1,860,382

 

Utilities

 

 

1,107,309

 

 

 

 

 

 

1,107,309

 

Water Utilities

 

 

2,169,009

 

 

 

 

 

 

2,169,009

 

Wireless
Telecommunication
Services

 

 

8,116,697

 

 

 

 

 

 

8,116,697

 

Short-Term
Securities

 

 

6,151,609

 

 

 

 

 

 

6,151,609

 















Total

 

$

97,058,685

 

$

5,867,526

 

 

 

$

102,926,211

 

 

 













The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

 

 

 

 

 





 

 

Investments in
Securities

 





 

 

Common Stocks

 

 

 



Balance, as of July 31, 2009

 

$

21,003

 

Accrued discounts/premiums

 

 

 

Realized gain (loss)

 

 

 

Change in unrealized appreciation
(depreciation)1

 

 

(21,003

)

Purchases

 

 

 

Sales

 

 

 

Transfers in

 

 

 

Transfers out

 

 

 

 

 




Balance, as of April 30, 2010

 

 

 

 

 





 

 

1

The change in unrealized appreciation/depreciation on securities still held at April 30, 2010 was $(21,003).


 

 

 




BLACKROCK UTILITIES AND TELECOMMUNICATIONS FUND, INC.

APRIL 30, 2010

3


Item 2 –

Controls and Procedures

 

 

2(a) –

The registrant's principal executive and principal financial officers or persons performing similar functions have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 15(d)-15(b) under the Securities Exchange Act of 1934, as amended.

 

 

2(b) –

There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

 

 

Item 3 –

Exhibits

 

 

 

Certifications – Attached hereto

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

BlackRock Utilities & Telecommunications Fund, Inc.

   
  By: /s/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer of
    BlackRock Utilities & Telecommunications Fund, Inc.
   
  Date: June 28, 2010
   
  Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
   
  By: /s/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer (principal executive officer) of
    BlackRock Utilities & Telecommunications Fund, Inc.
   
  Date: June 28, 2010
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock Utilities & Telecommunications Fund, Inc.
     
  Date: June 28, 2010
       

EX-99.CERT 2 i00279_ex99-cert.htm

EX-99. CERT

CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

 

I, Anne F. Ackerley, Chief Executive Officer (principal executive officer) of BlackRock Utilities & Telecommunications Fund, Inc., certify that:

1.

I have reviewed this report on Form N-Q of BlackRock Utilities & Telecommunications Fund, Inc.;

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.

Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4.

The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

 

a)

designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b)

designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c)

evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

 

d)

disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.

The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

 

a)

all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

 

b)

any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: June 28, 2010

/s/ Anne F. Ackerley  

Anne F. Ackerley

Chief Executive Officer (principal executive officer) of

BlackRock Utilities & Telecommunications Fund, Inc.


EX-99. CERT

CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

 

I, Neal J. Andrews, Chief Financial Officer (principal financial officer) of BlackRock Utilities & Telecommunications Fund, Inc., certify that:

1.

I have reviewed this report on Form N-Q of BlackRock Utilities & Telecommunications Fund, Inc.;

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.

Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4.

The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

 

a)

designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b)

designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c)

evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

 

d)

disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.

The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

 

a)

all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

 

b)

any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: June 28, 2010

/s/ Neal J. Andrews  

Neal J. Andrews

Chief Financial Officer (principal financial officer) of

BlackRock Utilities & Telecommunications Fund, Inc.

 


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