UI Officially Announces 20% Drop in Default Service Rate On July 1
United Illuminating officially announced a decrease in the Standard Service rate effective July 1
UI’s Standard Service generation rate for residential Rate R customers will fall from 9.2641 cents per kilowatt-hour to 7.5998 cents per kilowatt-hour.
UI also offers a “time-of-use” rate, Rate RT, which provides a discount for electricity consumed during off-peak hours — 8 p.m. to midnight, and 24 hours on weekends. As of July 1, the on-peak Standard Service generation rate under RT will be set at 10.1602 cents per kilowatt-hour, and the off-peak generation rate will be 6.6602 cents per kilowatt-hour.
UI’s Standard Service generation rates are adjusted every six months, on Jan. 1 and July 1, to reflect changes in the price of electricity in the wholesale market. UI said that generation rates are typically lower in the second half of the year.