48 unchanged sentences
Unitil Service provides, at cost, a variety of administrative and professional services, including regulatory, financial, accounting, human resources, engineering, operations, technology and energy supply management services on a centralized basis to its affiliated Unitil companies.
−Removed: Unitil Realty owns and manages the Company’s corporate office in Hampton, New Hampshire.
+Added: Unitil Realty owns and manages the Company’s corporate office in Hampton, New Hampshire and
+Added: land for future use in Kingston, New Hampshire.
Unitil Resources is the Company’s wholly-owned non-regulated subsidiary which currently does not have any activity.
1 unchanged sentence
All of the Company’s revenues are attributable to customers in the United States of America and all its long-lived assets are located in the United States of America.
+Added: On January 31, 2025, Unitil Corporation acquired Bangor Natural Gas Company, a natural gas distribution utility.
+Added: Bangor Natural Gas Company was incorporated under the laws of the State of Maine in 1998.
Electric Distribution Utility Operations
1 unchanged sentence
Revenue from Unitil’s electric utility operations was $248.3 million in 2024, which represents about 50% of Unitil’s total operating revenue.
−Removed: The Company’s GAAP Electric Gross Margin was $78.1 million in 2023.
+Added: The Company’s GAAP (as defined below) Electric Gross Margin was $78.0 million in 2024.
The Company’s Electric Adjusted Gross Margin (a non-GAAP financial measure) was $107.3 million in 2024, or 39% of Unitil’s total Adjusted Gross Margin.
50 unchanged sentences
As a result of Unitil Energy now being subject to revenue decoupling, as of June 1, 2022, revenue decoupling now applies to substantially all of Unitil’s total annual electric sales volumes.
−Removed: Substantially all of Northern Utilities’ gas sales volumes in New Hampshire have been subject to decoupling since August 1, 2022.
+Added: Substantially all of Northern Utilities’ gas sales volumes in New Hampshire have been subject to decoupling
+Added: since August 1, 2022.
The Company's electric and gas sales in New Hampshire and Massachusetts are now largely decoupled.
−Removed: The following table shows the estimated percentages, as of December 31, 2023, of electric and gas sales that are subject to revenue decoupling for the periods presented.
−Removed: Revenue Decoupling
−Removed: Estimated Percentage of Decoupled Sales
−Removed: For Periods Presented
−Removed: Before June 1, 2022
−Removed: After June 1, 2022
−Removed: Substantially All
−Removed: Before August 1, 2022
−Removed: After August 1, 2022
+Added: Northern Utilities’ gas sales volumes in Maine are not subject to revenue decoupling.
Non-Regulated and Other Non-Utility Operations
16 unchanged sentences
The Company's electric and gas sales in New Hampshire and Massachusetts are now largely decoupled.
−Removed: Also see Note 6 (Energy Supply) and Note 7 (Commitments and Contingencies) to the accompanying Consolidated Financial Statements for additional information regarding rates and regulation.
+Added: Also see Note 1 (Summary of Significant Accounting Policies), Note 6 (Energy Supply) and Note 7 (Commitments and Contingencies) to the accompanying Consolidated Financial Statements for additional information regarding rates and regulation.
As of December 31, 2024, the Company and its subsidiaries had 544 employees.
1 unchanged sentence
The Company strives to be the employer of choice in the communities it serves—regardless of race, religion, color, gender, or sexual orientation.
−Removed: The Company works diligently to attract the best talent from a diverse range of sources to meet the current and future demands of our business.
+Added: The Company works diligently to attract the best talent from a diverse range of sources to meet the current and future demands of the Company’s business.
To attract and retain a talented workforce, Unitil provides employee wages that are competitive and consistent with employee positions, skill levels, experience, knowledge and geographic location.
10 unchanged sentences
Unitil Energy
−Removed: Unitil Service - Gas Control
Unitil Service
4 unchanged sentences
On the Investors section of the Company’s website, the Company makes available, free of charge, its Securities and Exchange Commission (SEC) reports, including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and other reports, as well as amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably practical after the Company electronically files such material with, or furnishes such material to, the SEC.
−Removed: The Company’s current Code of Ethics was approved by Unitil’s Board of Directors on January 15, 2004.
+Added: The Company’s current Code of Ethics was approved by Unitil’s Board of Directors (the “Board”) on January 15, 2004.
This Code of Ethics, along with any amendments or waivers, is also available on Unitil’s website.
2 unchanged sentences
Annual Meeting
−Removed: The Company’s annual meeting of shareholders is scheduled to be held at the offices of the Company, 6 Liberty Lane West, Hampton, New Hampshire, on Wednesday, May 1, 2024, at 11:30 a.m.
+Added: The Company’s annual meeting of shareholders is scheduled to be held at the offices of the Company, 6 Liberty Lane West, Hampton, New Hampshire, on Wednesday, April 30, 2025, at 11:30 a.m.
+Added: Eastern Time.
Transfer Agent
10 unchanged sentences
Special Services & Shareholder Programs Available to Holders of Record
−Removed: If a shareholder’s shares of our common stock are registered directly in the shareholder’s name with the Company’s transfer agent, the shareholder is considered a holder of record of the shares.
+Added: If a shareholder’s shares of the Company’s common stock are registered directly in the shareholder’s name with the Company’s transfer agent, the shareholder is considered a holder of record of the shares.
The following services and programs are available to shareholders of record:
−Removed: • Internet Account Access is available at www.computershare.com/investor .
+Added: • Online Account Access is available at www.computershare.com/investor .
• Dividend Reinvestment and Stock Purchase Plan:
5 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.