Arizonans know high temperatures bring high power bills. But Salt River Project is proposing a plan to give customers a slight discount this summer.
Under the proposal from SRP management, customers would see a 3% decrease on power bills May through October this year. That would save the average residential customer about $5.57 per month.
The price decrease would be offset by a projected surplus in SRP’s fuel budget.
“SRP management is projecting the [Fuel and Purchased Power Adjustment Mechanism] balance will have a surplus of $56 million at the end of April 2026 due to higher than projected retail sales and lower than forecast natural gas and market power costs,” a press release from SRP said. “Management’s proposed temporary FPPAM decrease will reduce customer bills and help align summer prices with the lower costs SRP expects to incur.”
SRP has offered similar summer discounts in previous years in response to decreasing fuel costs, an SRP spokesperson said.
This proposal comes just months after SRP increased rates by about 3.5%.
The SRP Board of Directors will vote on the temporary summer rate reduction plan on March 26.
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