TEMPE, Ariz. (AP) — Salt River Project is proposing an average rate hike of 4.9 percent for next year, down from its original request of 8.8 percent.
If approved, SRP officials say there would be a $5.95-a-month increase in the electric rate for the typical residential customer starting in May's bill.
The proposed increase must first receive approval from SRP's board of directors, which is scheduled to vote on the issue March 11 at the utility's administrative offices in Tempe.
SRP officials say part of the rate increase would pay for the construction and operation of the new Springerville Unit 4 power plant in northeastern Arizona. It would also pay for more than $500 million in new emissions-control technology for the Coronado Generating Station in St. Johns.
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Information from: East Valley Tribune/Scottsdale Tribune, http://www.eastvalleytribune.com
