SRP to raise prices in NovemberPosted: Updated:
PHOENIX -- Salt River Project customers will start seeing an increase in their bill at the end of the year.
SRP’s Board of Directors has approved a plan to increase electricity prices by an average of 3.9 percent. The price increase is set to begin with the November billing cycle.
SRP said the price increase will add about $6.17 to the monthly bill of the average residential customer on the basic price plan.
SRP explained that the increase in prices will be used to maintain reliable service, pay for new renewable resources, and complete required environmental upgrades.
The price increase is actually lower than what SRP had initially planned for. Back in July when the plan was announced, SRP anticipated raising prices by 4.8 percent.
SRP has also approved an annual increase of $24 to the discount for Economy Price Plan customers. The increase will be applied exclusively to the six summer months.
In November, SRP will also make a one-time $400,000 contribution to the Arizona Community Action Association Home Energy Assistance Fund for utility bill assistance.
SRP also plans to provide the AZCAA with $100,000 to jointly study effective educational programs that assist low-income customers in managing their energy usage.