EXHIBIT 11

UNITIL CORPORATION AND SUBSIDIARY COMPANIES

COMPUTATION OF EARNINGS PER WEIGHTED AVERAGE COMMON SHARE OUTSTANDING

(Millions except common shares and per share data)

(UNAUDITED)

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011		2010
Net Income (Loss)	$	(0.7	)	$	(2.0	)	$	8.0	$	4.5
Less: Dividend Requirements on Preferred Stock		0.1			0.1			0.1		0.1
Net Income Applicable to Common Stock	$	(0.8	)	$	(2.1	)	$	7.9	$	4.4
Weighted Average Number of Common Shares Outstanding – Basic (000’s)		10,877			10,820			10,868		10,810
Dilutive Effect of Stock Options and Restricted Stock (000’s)		—			—			3		1
Weighted Average Number of Common Shares Outstanding – Diluted (000’s)		10,877			10,820			10,871		10,811
Earnings Per Share – Basic and Diluted	$	(0.08	)	$	(0.19	)	$	0.73	$	0.41