Good day, ladies and gentlemen, and welcome to the Third Quarter 2013 Unitil Earnings Conference Call. My name is Jason and I will be your operator for today. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. (Operator Instructions) As a reminder, this conference is being recorded for replay purposes. I would now like to turn the conference over to Mr. David Chong, Director of Finance. Please proceed, sir.

Good afternoon, and thank you for joining us to discuss Unitil Corporation’s third quarter 2013 financial results. With me today are Bob Schoenberger, Chairman, President and Chief Executive Officer; Mark Collin, Senior Vice President, Chief Financial Officer and Treasurer; Tom Meissner, Senior Vice President and Chief Operating Officer; and Larry Brock, Chief Accounting Officer and Controller. We will discuss financial and other information about our third quarter on this call. As we mentioned in the press release announcing the call, we have posted that information, including a presentation to the Investor section of our website at www.unitil.com. We will refer to that information during this call. Before we start, please note that comments made on this conference call may contain statements that are commonly referred to as forward-looking statements, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding the company’s financial condition, results of operations, capital expenditures and other expenses, regulatory environment and strategy, market opportunities and other plans and objectives. In some cases forward-looking statements can be identified by terminology such as may, will, should, estimate, expect or believe, the negative of such terms or other comparable terminology. These forward-looking statements are neither promises nor guarantees, but involve risks and uncertainties and the company’s actual results could differ materially. Those risks and uncertainties include those listed or referred to on Slide 1 of the presentation and those detailed in the company’s filings with the Securities and Exchange Commission including the company’s Form 10-K for the year ended December 31, 2012. Forward-looking statements speak only as of the date they are made. The company undertakes no obligation to update any forward-looking statements. With that said, I’ll now turn the call over to Bob.

Thanks, David. I’d like to thank everyone for joining us today, and I’ll begin our discussion with the highlights of our past quarter. If you turn to Slide 4 of our presentation, today we reported an increase in net income for the third quarter and nine months ended September 30, 2013 compared to the same periods in 2012. For the nine month year-to-date period, we reported net income of $11.3 million, an improvement of $2.2 million or a 24% increase over the same period last year. The robust growth in our gas business combined with the rebound in electric sales is producing sustainable year-over-year increases in both revenues and earnings per share. On Slide 5, we are executing on our core strategies to continue to grow our natural gas and electric businesses. In our Natural Gas division, we are making significant investments in cast iron and bare steel replacement to modernize our distribution system and we are aggressively targeting new customer growth. Our rate of growth in new customers was 2.5% last year, which is more than double the New England LDC average growth rate. In our Electric division, we continue to make reliability and customer service related investments. And as Mark will discuss later, we implemented cost tracker distribution rate adjustments and filed three distribution base rate cases earlier this year; two gas rate cases and one electric rate case. We believe that the execution of our growth strategies offers our shareholders a utility growth investment opportunity while at the same time providing the income generated by our dividend yield which currently stands at about 4.5%. On Slide 6 which shows the natural gas fundamentals driving the market opportunity for Unitil. Natural gas offers our customers the best choice of value in terms of superior efficiency, convenience and low…

Thanks, Bob, and good afternoon, everyone. Unitil earned $0.6 million or $0.04 per share for the quarter of 2013 -- for the third quarter of 2013. As in prior years, the company’s results of operations in the third quarter reflect a seasonal nature of our natural gas business. Our income is consistently lowest in the third quarter and in the previous second quarter and significantly more favorable in the first quarter and fourth quarter. For the nine months ended September 30, 2013, we earned $11.3 million reflecting an increase of $2.2 million or 24% over the same nine-month period in 2012. On a per share basis, year-to-date earnings increased $0.08 per share over the same nine-month period in 2012. Also, as a reminder, the 2013 per share results for the nine month period reflect a higher number of average shares outstanding period-over-period from the $70 million common stock offering we completed in May, 2012. Our results of operations for the current year were driven by increases in natural gas and electric sales margin partially offset by higher utility operating cost. Turning to Slide 10, natural gas sales margins were $12.4 million and $56.3 million for the third quarter and the nine-month periods reflecting increases of $1.2 million or 10.7% and $5.2 million or 10.2% respectively compared to 2012. Natural gas sales margins in 2013 were positively affected by higher therm unit sales, a growing natural gas customer base and higher gas distribution rates. Therm sales of natural gas were up approximately 3% and 10% in the third quarter and the nine-month periods compared to prior year, driven by colder winter weather in 2013 coupled with strong customer growth. There were 15% more heating degree days in the first nine-months of 2013 compared to the same period in 2012. Excluding the…

(Operator Instructions) And our first question comes from the line of Liam Burke with Janney Capital Markets. Please go ahead.

The -- on the Unitil Energy or the Fitchburg and Northern the authorized ROE is significantly higher and you’ve laid out a nice roadmap as to how to recover those costs to get your ROE back inline with what your regulatory or authorized ROE as your other property seem to be very close. Why has it been such a gap but as it just then you’ve been doing some heavy upfront investing and it's going to take a while to catch up to close the gap between what your actual and what your authorized ROE are both in Fitchburg and Northern?

Yeah, they're a little bit different in terms of the two, this is Mark, Liam.

Thanks, Mark.

At Northern the -- our gas utility with operations in New Hampshire and Maine as you know that was relatively recent acquisition that we acquired in late 2008. And when we acquired the utility it was significantly under earning and hadn't had a rate case in over 20 years. As a result of that, when we acquired and there was significant investment we continue to make for both improving the system as well as for growing the system and we’re just now through the late rate case process which is a -- is a lengthy process that takes you time to put that in place just now getting through that process. This is our second time in and getting things stabilized. So I think that we will be on a -- on a track to be able to earn our rate of return there you know on a going forward basis or have a better opportunity to do that, let’s put it that way. In Fitchburg, on the electric side there's -- it’s a little more complicated but the initial when we went in most recently for electric rate relief in Fitchburg two things happened, one, we coupled and, two, we -- the results we got out of that last rate case were not sufficient to provide us with that reasonable opportunity to earn our rate of return. As a result of that, this is a fairly quick round to go back and seek some adjustments to the current rate making in Fitchburg. We continue to have the decoupling but now we are looking to put on top of that a rate plan that will allow us to adjust our revenues over time to address cost increases, inflation and increases in plant investment that we’re making to that system and allow us some more reasonable opportunity to earn that rate of return. And we’ve put in a full case to -- to achieve that and we’re confident that we can do that through the rate making process in the next several months.

Okay, thank you. And, your CapEx I know it’s almost two or three quarters now, is there any material change in what your outlook is for CapEx for 2013?

No, it’s about what we’ve been talking about so.

(Operator Instructions). Your next question comes from the line of Shelby Tucker with RBC Capital Markets. Please proceed.

Just quick question on Usource and, Bob, if you could may be go through the quarter information I saw for the quarter revenues were flat at $1.5 million, gross margins were slightly down and the book the forward book of shares come down since the last quarter, can you may be explain the dynamic going on an Usource?

Yes, the -- let me give what the forward book I mean, when we do with the business in general I mean it’s a seasonal business I mean, the third quarter tends to be the -- the slowest period just because the highest quarter is the last quarter. We got a lot of people have their contracts at the end of the year and when they renew they start on January 1. so you would expect to see a pick up in the fourth quarter on all fronts and terms of Usource. In terms of the forward book, again we have a lot of renewals, probably the largest number of renewals we’ve ever had in the fourth quarter of this year. And so the question for us is can we get them all done by the end of the year. It's not a question of if it’s a question of when. And so the forward book will be determined since we do that and a point in time, Shelby, January 1, depending on how many of those renewals we can get and by the end of the year that will produce what we expect to be within the growth target we’ve been telling you about which is between 10% and 15% and anything that falls over the next year we’ll pick up next year. So its not a question of if, it’s a matter of when.

Okay, that is for 2013, we might not -- we’ll probably close to lower -- the lower end of that growth range?

I’d say between -- yes, I’d say as of right now again depending on how many of these renewals we can get done, I’d say we probably be towards the lower end of that range.

Ladies and gentlemen, thank you for your questions. I will now turn the conference back over to David Chong for the final remark.

Thank you for joining us for our third quarter conference call. If there is any follow-up questions please you may call the office. Thank you.

And that concludes the conference for today. Thank you for your participation. You may now disconnect and have a great day.