Fitchburg Gas and Electric Light Company

Unitil Corporation

Company type	Public
Industry	Electric power, Natural gas
Predecessor	Portland Gas Light Company
Founded	1984
Headquarters	Hampton , United States
Area served	New Hampshire, Massachusetts, Maine
Key people	Tom Meissner (Chairman, CEO, President)
Products	Electricity and natural gas services

Unitil Corporation operates as a multi-state utility provider delivering electricity and natural gas services across New Hampshire, Massachusetts, and Maine. The company's origins trace back to the Portland Gas Light Company, which was established in 1849. Unitil itself was formed in 1984 and maintains its headquarters in Hampton, New Hampshire. With a market value of $686.51 million, Unitil caters to around 102,400 electric clients and more than 75,900 natural gas customers. Its service area encompasses commercial, industrial, and institutional customers, including sectors such as electronics manufacturing and educational organizations. The firm's enterprise valuation is $766.54 million. Non-utility operations are conducted through its subsidiary U-source, which functions as a national energy brokerage and consulting firm.

Background

Unitil’s Historical Timeline

• 1849 – Establishment of Portland Gas Light Company in Maine.
• 1852 – Formation of Fitchburg Gas and Electric Light Company in Massachusetts.
• 1901 – Founding of Concord Electric Company.
• 1908 – Creation of Exeter & Hampton Electric Company.
• 1979 – Incorporation of Northern Utilities; its lineage includes Portland Gas Light Company.
• 1984 – Incorporation of Unitil Corporation as a public utility holding entity with subsidiaries Concord Electric and Exeter & Hampton Electric; establishment of Unitil Service Corp. for administrative functions.
• 1992 – Consolidation with Fitchburg Gas and Electric Light Company.
• 1993 – Launch of Unitil Resources, Inc., which includes Usource LLC for energy brokerage services throughout the Northeast.
• 2002 – Integration of Concord Electric and Exeter & Hampton Electric into Unitil Energy Systems.
• 2008 – Acquisition of Northern Utilities along with Granite State Gas Transmission.
• 2018 – Appointment of Tom Meissner as Chairman, CEO, and President.

Unitil’s revenue streams primarily stem from utility distribution activities involving underground transmission pipelines, alongside energy consulting and real estate services. In 2013, natural gas operations generated $170.4 million (46%) of total revenues, whereas electricity operations contributed $190.7 million (52%).

The company is organized into four main segments: three fully owned distribution utilities—Unitil Energy Systems, Fitchburg Gas and Electric Light Company, Northern Utilities—and five subsidiaries that provide utilities management and consulting solutions.

Rising demand during colder seasons has led to increased natural gas consumption, motivating Unitil to propose a $570 million investment aimed at expanding its distribution network. In early 2014, the company requested a rate increase for customers in the Greater Portland and Lewiston-Auburn areas due to elevated demand; the Maine Public Utilities Commission approved an adjusted rate hike reduced by approximately one-third.