PUBLIC PRICING PROCESS

SRP opened a public pricing process on Dec. 12, 2014 to consider a proposed overall average annual price increase request of 3.9%. The SRP Board approved a reduced price increase on Feb. 26, 2015.

The increase will appear on bills in April. SRP needed this increase in prices for these three reasons:

  1. Maintain reliable electric service. SRP continues to modernize the grid (our system of power lines and equipment) to safely and reliably deliver energy. This work includes replacing infrastructure, such as older power poles and underground lines, and adding new technology to incorporate more renewable energy sources into the grid.
  2. Power a growing economy. Arizona's economy is starting to improve. SRP provides reliable energy that supports growth and new jobs. In fact, during July 2014, customers set two all-time records for energy use. To meet increased power demand resulting from growth, we must build new infrastructure.
  3. Environmental initiatives. SRP has invested approximately $73 million during the past two years to add new environmental controls at key Arizona power plants to meet federal regulations. These upgrades are important, but they also add significant expense to existing operations without creating additional power resources.

SRP offers ways to help you reduce costs and offset the impact of the proposed rate increase. Information is available about price plans, energy efficiency programs and other ways to save money on your monthly bill.

The approved pricing changes the way new solar customers will be billed. Watch a video and read why SRP made these changes.