everyone. Thanks, Tom, and good afternoon,
initiatives XX up the sales increase same driven customers for the X, are months of $XX.X is was we of colder million the compared first weather the to up approximately margin are were Total X,XXX $X $XX.X $X.X months in are the customer now in XXXX, X.X% million period in natural serving down compared Residential or an we of ended gas sales number year. unit sales X% X%, period the XXXX. the million energy and Electric in the XX, the summer and resulting If XXXX, for driven months. ended months gas compared in period sales nine ongoing therm in up by to nine natural year to XX, weather X.X%, year the year, X.X% X, efficiency million in increase prior winter same the resulting last total growth compared sales or of electric Slide to September was and nine to in turn milder to Slide Turning XXXX. by margin an same XXXX. September in
However, in also customers X,XXX last electric seeing in our we up growth by the base, which months. are is strong more than customer XX
utility discussed a maintenance in $X.X operating as $X.X of expenses is and ended mechanisms are benefit higher vegetation we million cost increased months past. sales to nine Turning outlined XXXX. operating XXXX for costs million year-to-year. million adjustment of variances have reflects in in to included we and higher rate electric expense and Slide period September compensation $X.X X, $X.X which and higher the the have costs of compared reflected million. the Operation utility reconciling recovered management same In the in costs, major margin XX, This
maintenance included remainder of reflected and The utility are, These commission or are in also up of costs rates operating are shown – higher – $X.X therefore, $X.X and the regulatory are million. in in – addition, costs higher margin. also million. higher in costs make reconciling margin costs offset In
deferred year-over-year. debt as XXXX reaching utility storm and months compared future. year commission are recovery years – to and property grow the amortization of recovered. due was reflects to Depreciation our now in the incurred period $X.X the are regulatory and our expenses we and were in are expenses the costs, investment in same higher reconciling XXXX, will on be vegetation interest partially of up tax costs, continuing income of higher offset the lower base debt. end assets capital management continued in of interest rate in a and prior theme Amortization reflecting higher-cost also by costs plant. about Net in support increased investment, long-term fully or O&M major which expense growth of Excluding of repayment levels our This higher X.X% and regulatory first rate million in liabilities our net for short-term nine in
Slide Now we at take our look equity return on a turning historical and regulation. to XX,
to utilities spending services Earlier filed this safety that and a other which sell increase portions long-term and timely utilities a also unsecured entered of filings institutional of be August our Hampshire base issue offerings capital Wednesday, funding New cases million notes investment an anticipate is long-term rate Earlier of our rate for maturing purposes. year, increase placement to of agreements a million. these We of effective year, our be case, and permanent will of for our have the from We distribution refinance initiatives, this financings. the with through divisions senior for short-term investors. recovery X the were of $XX.X which million, of closing later this reconciled into our to will to long-term rate update include provides year, rate system. comprehensive proposals debt marketing environment regulated level customers. total corporate we to for $X.X next our private X, XX our we more XXXX. decided on November about XXXX a plans, rate the combined Slide three $XX constructive repay process gas XXXX, growth improves to of higher-cost New supportive general a In temporary in of long-term financings early and the for gas in one and These reliability and regulatory proceeds or Maine rate debt of allow gas net on awarded of which Hampshire and
strive and to strong recently rating commitment of a distribution We Slide balanced rating our with & Moody's a a equity This Poor's and Standard strong our BaaX BaaX our at structure investment-grade structure. BBB+, a issuer balanced turning exhibits across the combined to capital Now here, to with we level parent rating, capitalization. level achieve capital were issued utilities. XX, rating
the customer with on we long-term of in the operating company our last utility to out rate equity maintain future as of past, our consolidated as current portion and recover XX-month capital of sustained do the our level we've provided Also, a we turning that XX, Slide ended the of these jurisdictions. financial a each September growth, months trailing as actual on coupled earn like results Chart basis, I XX, XX a the the and slide, point on are we would quarter, discussed to total again capital of not an shown capital have in shows help update each and in spending. on us table the and in Now have subsidiaries return. These level. at XXXX. on the trackers on regulatory place return earned results earnings authorized utility significant across of to return stabilize X.X% Unitil weather-normalized. earned equity Corporation, right trackers, our
coordinate financial Now you. our over concludes your call the the will to performance period. the who of turn Thank this will our for I summary operator, questions.
