UNITIL Business Summary

Unitil Corporation (UTL) is a public utility holding company that generates revenue through the regulated distribution of electricity and natural gas to approximately 215,100 customers across New Hampshire, Massachusetts, and Maine. The company operates primarily through two segments—Utility Electric Operations and Utility Gas Operations—supplemented by interstate natural gas transmission via its Granite State pipeline. Its business model is centered on earning a regulated rate of return on infrastructure investments, with revenue stability enhanced by decoupling mechanisms in Massachusetts and New Hampshire that mitigate the financial impact of weather and usage fluctuations. Unitil competes in the New England energy market against larger regional players such as Eversource Energy, National Grid, Avangrid, and Liberty Utilities. As a mid-sized utility, Unitil distinguishes itself through a localized operational focus, agile management of niche service territories, and a strategic commitment to grid modernization and infrastructure resiliency. The company is led by Chairman and CEO Thomas P. Meissner, Jr., an industry veteran with over 25 years at Unitil who previously served as COO and has been a primary architect of the firm’s expansion into the Maine gas market. The senior leadership team includes Robert B. Hevert, who serves as President and Chief Administrative Officer, and Daniel J. Hurstak, the Senior Vice President, CFO, and Treasurer; both assumed their current roles in 2023 following extensive careers in energy regulatory economics and public accounting. Carleton B. Simpson serves as Senior Vice President and General Counsel, having been appointed in October 2025 to oversee the company's legal and regulatory strategy. The Board of Directors, which includes Lead Independent Director Michael B. Green and recently elected member Katherine Kountze, provides strategic oversight for a company that has maintained institutional stability since its incorporation in 1984, supported by significant ownership from major investment firms such as BlackRock and Vanguard.