Arizona's largest electric utility says it has a deal with solar and consumer advocates that allows lower rate increases and smaller cuts to what it pays rooftop solar customers than it originally proposed.
Arizona Public Service Co. announced the agreement Wednesday. The deal allows a 4.5 percent residential rate increase, below the 8 percent the utility proposed last June.
A typical homeowner will pay $6 a month more if state regulators approve the deal. APS proposed an $11 a month increase.
The utility also dropped a plan to charge all customers more during peak periods.
Existing rooftop solar customers will keep "net-metering" rates that pay them full retail costs for electricity sent back to the grid for 20 years. New customers will get substantially less, though more than initially proposed.