SRP residential customers will see higher electricity bills starting in the fall. The utility announced on Monday that the average residential customer will see an increase of 3.2%, depending on overall power usage.
Brandon Shoemaker, SRP’s director of corporate pricing, said this increase is a way of making up for energy costs incurred by SRP during the COVID-19 pandemic — he said SRP chose during that time not to pass increased energy costs on to consumers, many of whom were already dealing with increased prices everywhere else.
“We’re tracking the difference between what we’ve spent and what we’ve recovered through prices, and then those prices get put into customer bills. We’ve tracked that difference so that we can collect them over time,” Shoemaker said.
SRP said in a press release that it anticipates this increase will allow it to recover its undercollection of more than $300 million in about 18 months.
The increased rates will take effect Nov. 1, after the summer season. According to SRP, the new rates will add just under $5 per month to the average residential customer’s bill.
Shoemaker said SRP offers various ways for people to save on their electricity bills, and that anyone interested should talk to SRP's customer service.
