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United Illuminating cuts electricity rates using accumulated tax savings and shareholder money

United Illuminating has struck a deal with Connecticut, agreeing to use accumulated savings from tax cuts and shareholder money to avoid a looming rate increase, the utility and state officials said Wednesday. Pat McDonnell, vice president for regulatory affairs, said UI saw the possibility of higher rates May 1 and “wanted to find some ways to avoid that if we could.” The utility, which .

United Illuminating cuts electricity rates using accumulated tax savings and shareholder money

United Illuminating cuts electricity rates using accumulated tax savings and shareholder money
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