Starting in November, Salt River Project customers will see bills increase by about 3.5%. For the average customer, that will be about $5.61 more per month. The changes were approved by the SRP board in February.
SRP is the largest electricity provider in the Phoenix area. To keep up with growing demand, SRP projects it will need to produce about 40% more power within the next 10 years. The new price changes will help cover those system upgrade costs.
Price increases will vary depending on customers’ energy usage and price plan.
Most customers currently pay a $20 monthly service charge in addition to charges based on power usage. Under the new plan, monthly service charges will change to a tiered rate system. Customers in apartments or condominiums will continue to pay $20 per month, customers in typical single-family homes will pay $30, and customers in very large homes will pay $40.
Other changes include two new time-of-use plans, in which participating customers will be charged more for power used during high-demand evening hours, but can save on power used from 8 a.m. to 3 p.m.
According to SRP, current customers may now switch to one of the new time-of-use plans or they may stay on their current plan until it is phased out, no later than November 2029.
SRP is also expanding eligibility for its bill assistance program for low-income customers.
More information on the new rates is available at srp.net/resprices.
