United Illuminating Residential, Small C&I Default Service Rates Falling Up To 35%

United Illuminating has filed new default service rates with the Connecticut PURA for the period beginning July 1, 2023

The July 1, 2023 to December 31, 2023 UI residential (Rate R) Standard Service rate will be 14.3344¢/kWh, which is 35% lower than the current UI Rate R rate of 21.9429¢/kWh. All of the Standard Service rates in this story include the Bypassable FMCC (where applicable) which is currently and is proposed to remain zero.

As of publication time, there are currently several fixed (and not for an ultra-long duration) residential offers from competitive retail suppliers on CT Energy Info which are still about 20% below the new, lower residential price to compare. Even more suppliers are offering rates about 1¢ below the new PTC (about 7% lower than the new PTC). Residential supplier offers in Connecticut do not include early termination fees. The new UI rates were published mid-day today

The UI Rate GS Standard Service rate will decrease 31% to 14.3668¢/kWh on January 1, 2023, from the current rate of 20.9663¢/kWh

New Standard Service rates for July 1, 2023 to December 31, 2023 are as follows, in cents per kWh (for Rates LPT & GST, rates only applicable for customers under 500 kW).

UI Jul-Dec 2023 Standard Service Rates (¢/kWh)
** Rates include Bypassable FMCC **
 
Rate R:       14.3344
 
Rate RT
  On-Peak:    16.8674
  Off-Peak:   13.3674
 
Rate GS:      14.3668
 
Rate GST
  On-Peak:    16.3646
  Off-Peak:   13.3646
 
Rate LPT
  On-Peak:    16.4649
  Off-Peak    13.4649
 
Rate M:       14.9974
 
Rate U:       14.9974

The Last Resort Service Generation Services Charge (GSC) rates for the three-month period beginning July 1, 2023 are as follows, in cents per kWh:

Rates GST & LPT* (Above 500 kW) GSCs
 
Jan 
  On-Peak:    17.0685
  Off-Peak:   17.0685 [sic]
Feb 
  On-Peak:    16.0495
  Off-Peak:   16.0495 [sic]
Mar 
  On-Peak:    10.8575
  Off-Peak:   10.8575 [sic]
 
*Rate LPT Shoulder & Off-peak price is the same