Good day, ladies and gentlemen, and welcome to the Second Quarter 2015 Unitil Earnings Conference Call. My name is [indiscernible]; I will be your operator for today. At this time, all participants are in 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 call over to the Director of Finance Mr. David Chong. Please proceed sir.

Good afternoon and thank you for joining us to discuss Unitil Corporation’s second quarter 2015 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 second 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 terminologies 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, 2014. 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 will now turn the call over to Bob.

Thanks, David. Thanks for joining us today. If you turn to Slide 4 of our presentation, today we announced net income of $1.7 million or $0.12 per share, for the second quarter of 2015, an increase of $0.6 million or $0.04 per share compared to the second quarter of 2014. For the first half of this year, we reported net income of $15.3 million or $1.10 per share, an increase of $1.6 million or 12% and a $0.11 per share compared to prior year. 12% increase in net income for the first half of this year was Primarily driven by customer growth in higher natural gas sales. Our regulatory agenda and growing investment in our gas and electric distribution systems will continue to drive our earnings in the years ahead. Turning to Slide 5, the graph shows that our financial results have increased sharply over the past few years, with net income growing at an annual rate of 16% since 2012. Our financial results have been driven by the strong demand for natural gas in the areas we serve. Our growing investment in our gas and electric utility distribution systems and the successful execution of our regulatory strategy. As part of our regulatory strategy, in the second quarter we filed gas and electric phase rate cases for our Massachusetts Utility requesting a total of $6.8 million in rate relief. Mark will discuss these rate cases in more detail later in the presentation. Moving to Slide 6, natural gas remains a cost competitive fuel choice and offers all our customers the best choice of value efficiency and convenience of a competing fuel such as oil and propane. As a result of historical and economic factors somewhat unique to Northern New England which I’ve discussed many times in the past, we currently…

Thanks Bob. And good afternoon everyone. Turning to the next Slide, Slide 10 natural gas utility sales margins were $18.1 million and $56.9 million for the second quarter and six month periods reflecting increases of $1.8 million and $4.1 million or up 8% for the year so far compared to prior year. Natural gas sales margins was positively affected by higher therm unit sales, a growing customer base and higher distribution rates. Therm sales of natural gas increased 4% in the first six months of 2015 compared to 2014 driven by colder winter weather and new customer additions. There were 3% more heating degree days in the first six months of 2015 compared to the same period in 2014, which we estimate positively impacted earnings per share by about $0.02. Compared to normal, there were 13% more heating degree days in the first six months of 2015, which we estimated positively impacted earnings per share by about $0.09. Excluding the effect of weather on sales, weather normalized gas therm sales are estimated to be up 3% for the first half of this year compared to last year. Turning to Slide 11, this highlights our electric utility sales margin. Electric sales margins were $20.5 million and $41.7 million for the second quarter and six months period reflecting increases of $1.6 million and $3.6 million or up 9% for the year so far compared to prior year. Electric sales margins reflects higher electric base distribution rates and slightly higher sales volumes. Electric kilowatt hour sales increased slightly by 2.2% compared to the first half of 2014. Turning to Slide 12, Usource, the Company’s non-regulated energy brokering business, recorded revenues of $3.1 million for the six months period, an increase of $0.1 million compared to the same period of 2014. Operation and Maintenance…

[Operator Instructions] Your first question comes from Michael Gaugler with Janney. Please proceed.

Well good morning everyone.

Hi Mike.

Hi Mike.

Just one question on gas conversions, we’ve seen the price of oil come down, prices of other fuels come down as well, just wondering if you are seeing any slowdown in demand for conversions given that pullback in energy prices.

Yeah, Mike. I think it’s more a question of timing. I myself just converted to natural gas so that gives any idea I saw the economy value of doing it. We actually still see strong growth, I would say it’s probably a little bit off we saw a couple years ago. But I think that’s temporary because people tell us, these are the customers, what they are telling us at least, they see it as a temporary phenomenon and they expect in long-term and natural gas will be a better buy than home heating oil. So we expect to see that growth continue and given our new approach to serving unserved areas, we’re getting a lot of strong support from town officials saying [indiscernible], the benefit of natural gas long term.

Okay. That’s all I had. Congrats on a really nice quarter.

Thanks Mike.

Thank you.

Your next question comes from Shelby Tucker with RBC Capital Markets. Please proceed.

Good afternoon. Just a quick question on gas demand for the second quarter, I know with weather residential demand was down 3.4 conversions stood down 0.8. If would weather normalize, do you have a sense where the sales growth would have been for both segments.

Second quarter is a colder period, Shelby, so there is not a lot of in weather, well, plays a role is relatively minor impact on sales during the period. I think what we talked about from financial perspective; we think weather contributed about $0.02 to earnings per share in the period.

Got it. Okay. Thank you. End of Q&A

[Operator Instructions] There are no further questions. Ladies and gentlemen, this concludes today’s call. Thank you for your participation. You may now disconnect. Have a great day.