on afternoon, Good remarks I'll Slide my Tom. X. Thanks, begin everyone.
sales previously put the than gas normal, weather been electric winters about that activity, quarter higher our areas, on based both XX.X% one total, been was and normal, one In the I'd the warmer Degree $X.X than to electric perspective, gas net million winter winter income have per analysis. would weather that impacted warm $X.XX had XX.X% estimates warmest of Day warmer company's and in To Before by sales the share. into on reviewing in service weather and our was briefly divisions. warmer XXXX about to company like the talk unfavorably Tom weather This if record and closer or winter mentioned.
Turning XX. to Slide
a decrease margin driven impact margin in adjusted XXXX million. $XX.X sales, million, of $X.X the is offset $X.X higher the gross This an gas over was Our partially rates million XXXX. to decrease was positive $X.X of which in million This lower growth XXXX distribution by by and which had compared impacts is weather year-to-date warmer impact million. and of customer primarily winter decrease of $X.X of gas
to XXXX. sales of therm gas decreased X.X% first Natural the compared quarter
sales, weather-normalized were milder winter the XXXX, therm Given excluding gas up sales, the company estimates year-over-year. that decoupled weather in X%
more X.X% time same customers in than at X,XXX gas serving We are currently the XXXX. or about
Slide XX. on Next,
higher distribution adjusted XXXX. $XX.X electric rates Electric year-to-date margin $X.X million. margins period positively is of electric Our in which gross million, is flat were sales affected by to the
positive million. offset the was of this usage same impact However, the of by the difference average $X.X lower winter warmer and weather
not to company's gross customers two kilowatt mechanism, customers service X.X% increased under large area two The company's compared electric first XXXX. increase electric the in increased hour Massachusetts Massachusetts of the sales increased decoupling Total service The area. do industrial operates usage primarily and large of growth the sales by a the in quarter industrial customer impact and sales reflects margin. therefore, revenue
time XXX customers the serving at We more are than or about same X.X% electric XXXX. in currently
I'd the to our layout for reconciliation results comparing income XX-Q the we to supplemental to the as XXXX. have net earnings isolate that of provided XXXX related to Form the first turning a presentation and we our impact and quarter provided, the quarter the was Now, note in slightly different earnings statement XX. Slide XX-Q. revenues divestiture Usource analysis expenses. of that We the In first from is provide like reconciliation an this of
a by largely by maintenance than X% costs decrease for to decreased utility same Core was due discussed, operating core of As were year-to-date by expenses million, operation expenses offset decrease debt O&M. in the and previously of $X.X gross including driven million, our margins million, COVID-XX professional provision partially million $X.X and higher $X higher $X.X fees we The period to $X.X million. in bad electric and This gas XXXX. of lower compared weather. the lower is XXXX
by Interest and service. flat, interest deferred lower million XXXX, taxes at Depreciation than and rates expense on offset and plant borrowings million, by levels the of was higher expenses amortization short-term net to due $X.X reflecting lower local benefit levels lower period. was of other expense debt, lower million primarily in reflecting tax retirement higher on $X.X increased Taxes interest income costs in higher reflecting of and taxes to storm utility property amortization increased compared $X.X lower Other long-term XXXX. higher rates.
net million quarter This isolated in Usource we've before includes Next, full realized XXXX was in the $X.X the which in is million, income first $XX.X operations the the realized to of the million, divestiture $X.X which impact XXXX. after-tax divestiture. from Usource's addition gain on the of of
$X.X Lastly, rate income XX.X%. taxes million, increased of tax the effective reflecting XXXX
that is earned income So million XXXX. the our quarter in $XX.X quarter of we the current to of $XX.X first million reconciliation for our net of the
impacts Slide COVID-XX Now, business. let's the turn I'll on our and discuss to XX,
have are although impacts the our customers. emergency economic financial offset We by closely the residential to sales our on non-decoupled slightly the on The may of sales company. service the effect the be conditions higher its in areas, impact and most COVID-XX monitoring current could and earnings be health this commercial industrial significant to
a duration result to the which At the emergency. of this point, as C&I we usage analyzing are decline and may still extent
we in However, negatively estimate for approximately X% drop be affected $XXX,XXX. C&I usage, will margin every that sales
disconnections, company's levels approximately the tracking Due potential higher with recover reminder, on regulators. and service we to to exploring distribution are to revenue activity, C&I options the state the debt-related customer arrears. of from our by generated expenses bad the company expects We'll moratorium a be customers. have emergency As that of half is
does the out alter which service approximately and to is to earnings. of safe in as reconciling result activity impact bad our historically related debt, of a to I'd also is customers. like has mechanisms levels write-off company point no ensure not for reliable COVID-XX emergency all intention energy and staffing XX% continued, that The tracked the company's supply
cash The investment plans ahead at financing the sheet this balance at and our Looking is proceeding flow. company and time. with
approximately liquidity under company option us The million has option our exercise elected a have available. total, to facility facility in of to million currently liquidity The not this to also limit. has limit. The that of $XXX allows utilizing ample that a limit existing short-term about credit by at point. borrowing us of half line million, We $XXX limit we has available the the $XX $XXX company are and increase In million the combined for facility.
company also I'd investment-grade remind ratings everyone that credit to has the like from
planned S&P with an company investment the for as result, as as due to do to see not credit issue investment-grade emergency. allows access being a our which the We and company ratings the needed. capital And and markets from dividend will Moody's, the programs. liquidity continue
Moving on Slide XX. to
We approved with approval an Maine in order for base have XXXX. are equity X.XX%. Utilities authorized in rate an X, $X.X announce in received which were first return and effective on settlements, rate These Both XXXX, to of our and Also of gas by cases from of quarter quarter of Maine we XXXX. increase operating equity were Public received or rates of Commission, rate on also that determined approved increases The our order Utilities Massachusetts revenues. first approving X.X% both the pleased year Department Massachusetts the electric a in returns divisions. increases the X.X%. concluded test base million to of over revenue of April increase became an We Public
gas X, The for fund, on help began distribution will while two collecting will will has $X.X a XXXX. of settlement The to years. a of this this majority the storm allows rate be revenue We X, volatility mitigate reserve become The of which major March also $X.X total a in million award settlement phased March XXXX, over of begin allows the on electric distribution to increase revenue new related implementation expense million settlement XXXX. storms. for effective $X.X increase November of which million,
for limit recovery capital settlement recovery addition, electric tracker, taxes, modified eligible of also was property for also continuation electric allows to the In rate include investments and slightly doubled. of more than for the the
lower of to these awards excess of the like annual all as deferred Jobs reflected income would three revenue cases The rate offset expense. result Act. The these that and rate mention which the Cut result taxes, a by were passback Tax million annually. fully $X.X but passback I reflect is a is in total created of lower base of as passback is amortization
we Next, turn have we where significant XX, changes in to distribution provided summary a Slide XXXX. rate of
of we tracker trackers our In We XX relief. the have rate rates. base Fitchburg mechanisms transfer and been XXXX, $X into on have across collections rate Slide for of plans cost reflect subsidiaries. awarded precedent over from capital for the distribution the or million trackers all amounts The long-term of utility negative
winter on Finally, jurisdictions. of basis, been X.X% on a estimates provide a Slide ROE of on the the X.X%. reflects XX equity This quarter weather, one actual Unitil, last that the in each normalizing the months consolidated weather in on quarter total return XX, company equity last earned we in earned would have unfavorable return one. XX consolidated The winter regulatory our months.
And with for questions call operator over you I now call. that, we the will from audience. today's the the thank attending coordinate who to will turn
