Salt River Project has announced its temporarily reducing its rates for summer electricity bills by 3%.
The utility says the rate cut will result in bills being about $5.50 lower on average during the hottest time of the year in the Valley.
SRP’s Board of Directors approved the decrease from May through October.
In a press release, the utility said its able to pass on savings to customers thanks to higher than expected retail sales and lower than expected natural gas and power costs. SRP says it will be monitoring its fuel purchasing program to see if future adjustments will be necessary.
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