You betcha. UTC is the TZ for SO.
That said, when you invoke certain things, you can set the TZ environment variable to an appropriate value when you invoke certain commands so that it uses local time. But the recommended way is just to know what time it is ;).
For instance, here in Colorado at this time of year we are 7 hours ahead of UTC, so 1700 MST is 0000 UTC the next day, and 1900 UTC is 1200 MST. One thing I do fairly often when looking through Bro logs is something like this:
$ cd /nsm/bro/logs
$ ls -1 2013-02-08/http_eth1.*gz | while read fn;do (export TZ=MST7MDT;zcat $fn | bro-cut -d ts id.orig_h id.resp_h method host uri status_code status_msg);done | fgrep 65.125.242. | less
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Shane Castle
Data Security Mgr, Boulder County IT