Slide 1: Annual Meeting of Shareholders
April 18, 2013 Annual Meeting of Shareholders Presentation by Robert G. Schoenberger Chairman, President & Chief Executive Officer Exhibit 99.1
Slide 2: Our mission is to provide energy for life
Our mission is to provide energy for life—safely, reliably, cost- effectively and responsibly—to a growing number of customers with a high-performing workforce
Slide 3: Unitil Overview and Service Areas
Unitil Overview Unitil Service Areas Electric and natural gas utility operations in Maine, New Hampshire and Massachusetts 176,000 total gas and electric customers Regulated utility business model Growing operations and customers Rate base growth Natural gas system expansion Usource Non-regulated en
Slide 4: 2012 Net Income Earnings Applicable to Common Shareholders
2012 Net Income Earnings Applicable to Common Shareholders Record Earnings Applicable to Common Shareholders of $18.1 million in 2012 Mild winter weather in 2012 negatively affected earnings by an estimated $1.7 million ($ in millions) $9.5 $16.3 $18.1
Slide 5: Balanced Capital Structure
Balanced Capital Structure Capitalization Ratios (December 31, 2012) Common Equity 48% Long Term Debt 52% Completed public offering of common stock in May 2012 2.76 million shares issued $66 million in net proceeds Net proceeds were principally used to contribute equity to all utility subsidiaries S
Slide 6: Financial Highlights
Financial Highlights Operating Income Sales Margin Net Income to Common Net Utility Plant ($ in millions) ($ in millions) ($ in millions) ($ in millions) $121 $141 $154 $9.5 $16.3 $18.1 $487 $517 $557 $601 $28 $37 $37
Slide 7: Premier Storm Response
Premier Storm Response Hurricane Sandy Edison Electric Institute Award “ [Unitil’s] storm management is now a model for other New Hampshire companies.” - New Hampshire Public Utilities Commission Unitil selected as one of the winners of the 2012 Emergency Recovery Award from the Edison Electric Inst
Slide 8: Gas Growth - Fundamentals
U.S. Natural Gas Production, 1990-2035 Retail Cost Comparison Gas Growth - Fundamentals $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 Annual Residential Heating Cost ($) Gas Fuel Oil Source: Energy Information Administration Source: Unitil estimates Natural gas is currently ~50% the cost of reta
Slide 9: Gas Growth - Market Potential
Gas Growth - Market Potential Current On-the-Main Penetration (2012) Projected On-the-Main Penetration (2016) 74,000 (57%) 55,000 (43%) 92,000 (71%) 37,000 (29%) Serving 74,000 total gas customers currently Identified 55,000 potential new customers who are “on-the-main”, but not currently taking gas
Slide 10: Gas Growth - Customers
Gas Customer Additions Gas Growth - Customers 700 800 1,100 1,800 Gas customer additions significantly increasing since 2008 acquisition of Northern Utilities Added and converted over 2,000 customers in 2012, up approximately 50% from In 2013, plan to target 4,000 customer additions and conversions
Slide 11: Rate Cases Base Rate Relief
Rate Cases Base Rate Relief Strong regulatory track record – base rate relief to date has increased sales margins over 30% Continue to have favorable longer term rate plans including cost tracker mechanisms at Unitil Energy and Granite State through 2014 ($ in millions) $11.7 $3.7 $3.3 $2.5 $8.7 $3.
Slide 12: 2013 Rate Case Filings
2013 Rate Case Filings ~9 mos. ~10 mos. ~3 mos. ~10 mos. Rate Relief Company Requested Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Northern Utilities (New Hampshire) $5.2mm Northern Utilities (Maine) $4.6mm Fitchburg (Electric) TBD Rates Expected Q2 2014 Rates Expected Q1 2014 Temporary Rates Expected Q3 2013 Permanent
Slide 13: Usource Competitive Energy Markets
Usource Competitive Energy Markets Customers Connecticut Minnesota Delaware New Hampshire Florida New Jersey Georgia New York Illinois Ohio Indiana Pennsylvania Maine Rhode Island Maryland Texas Massachusetts West Virginia Gas & Electric Gas only Not fully open Manages over $660 million annually in
Slide 14: Key Investment Highlights
Key Investment Highlights Regulated local distribution utility business model Diversified natural gas and electric sales Growing operations and customer base Utility rate base growth Natural gas system expansion Usource contribution Historic dividend stability Experienced management team
Slide 15: Question & Answer Session
Question & Answer Session