Credit Policy
Information for SRP Business Customers
Doing business with ease
With our billing and payment options, you can pay your bill every
month without writing a check or enroll in SRP Budget Billing™ to
better manage high summer bills. You can even choose the due date
of your electric bill. The information below explains our credit practices
and describes customer programs that can save you time and money.
For more information, call (602) 236-8833.
Regular monthly bills are due upon issue. If we don't receive payment
by the close of business on the 21st day after billing, the account
becomes delinquent. We will mail a reminder notice to you, and a
late fee (currently the greater of $5 or 2% of the billing amount, plus
tax) will be added to the account. If we do not receive payment by the
close of business on the 28th day after billing, we may disconnect your
electric service without further notice. In addition to late fees, new or
additional deposits may be added to your account if you pay your bill
late more than two times in 12 months.
Final bills on closed accounts are due within 14 days of the issue date.
If payment or payment arrangements are not made on or before the final bill due date, the balance owing may be transferred to an
appropriate active SRP account, including a related residential electric
account. If SRP does not have an active account to transfer an unpaid
final bill to, the account will be referred to a collection agency. The
collection agency will report the delinquent account to the major credit reporting agencies.
- Mailed payments can be made with a personal or business check,
cashier's check or money order. Payments can be mailed to:
SRP
P.O. Box 80062
Prescott, AZ 86304-8062
- SRP SurePayTM(a direct-debit payment program) automatically
withdraws funds from your designated bank account 10 days after the
bill date.
- Our e-ChexTM service lets you
pay by check online at srpnet.com, over the phone, or at our
SRP PayCenters®.
- SRP PayCenter payments can be made with cash or e-Chex. To pay by e-Chex at a PayCenter, you must first set up your account for the e-Chex payment option. Please call us at (602) 236-8888 to register or go online to My Account. Locations of SRP PayCenters are aslo online.
- SRP Customer Service Office in person payments can be made with a
personal or business check, cashier's check or money
order. For the safety of our customers and employees, we cannot
accept cash over the counter. However, there are PayCenters
at each office that accept cash payments.For the location and hours of the offices and SRP PayCenters near you, please call us at (602) 236-8888 or view locations online.
- Credit or debit payments of $500 or less can be made through
NCO Services Group for a fee; SRP does not take credit or debit card
payments directly from customers. To make a credit or debit card
payment by phone, please call NCO at (800)
741-9099. Speech- and hearing-impaired people can use NCO's TDD
line, (800) 367-8939. Online credit or debit card payments also can be made at srpnet.com/payment/creditcard.aspx.
Please note: SRP cannot guarantee continuous service if you pay
through unauthorized payment processors, including your bank's
online payment program, which may not remit your payments to SRP
in a timely manner. If SRP does not receive payment by the due date
on the bill, a late-payment fee may apply and your service may be
subject to disconnect.
If you're on the General Service Price Plan (E-36) or SRP Time-of-Use™ Price Plan (E-32), you can view and print up to three
years of past bills. You can also receive automated email and text
notifications that alert you of certain conditions on your account,
including when your bill is available, when payment is due and past
due, and when a payment is confirmed. In addition, you can elect to
stop paper bills. Go to My Account to view your bills and select as many e-Notification options as you like.
Budget Billing™ helps you balance the seasonal highs and lows of your
electric bill to make your payments predictable each month. We total
your annual energy cost for the previous year and divide it by 12. We
will review your usage periodically for any significant changes and
adjust your payment amount if necessary. You may enroll in Budget
Billing throughout the year. However, the best time to enroll is around
October in order to build a sufficient credit in your account to cover
your usage during the summer. Your enrollment in Budget Billing will
be canceled if you miss two payments within 12 months.
CDD lets you choose a due date for your electric bill(s) that's convenient for you. Use CDD in combination with SurePay and
Budget Billing for ultimate convenience in bill payment. Find out more.
When you request new or additional electric service, you agree to these terms of service and payment.
In the process, you will be asked to give SRP certain information,
including the name of your business; type of entity; tax identification
or Social Security number; responsible party; financial statements;
and legal documentation, such as your articles of incorporation,
partnership agreement or articles of organization. Your business entity
must be in good standing with the Arizona Corporation Commission
(ACC) or a similar regulator if incorporated outside of Arizona. You
may be asked to provide documentation to show standing if SRP
cannot verify it with the ACC.
Customers with four or more residential accounts may be considered
businesses and be subject to this SRP Credit Policy for SRP Business
Customers.
A service fee will be added on your first bill to cover the initial expense
of establishing your account. Fee amounts are listed at the end of this
policy summary.
You must change the name on your account when the name of your
business is legally changed. You will be required to provide legal
proof of the name change and will be responsible for payment of all
outstanding and future electric bills on your accounts. In addition,
depending on what prompted the name change, you may be subject
to the terms and deposits outlined in this policy.
SRP requires a business to be in existence for at least three years in
order to waive a deposit.
If you are a sole proprietor, you will be asked to provide evidence
that you have been in business for at least three years. In addition, if
you request to hold your SRP account in your individual name, SRP
will require you to provide your Social Security number; otherwise, a
deposit cannot be waived.
If SRP requires a deposit, the deposit will be held for a minimum of
three years. After three years of service, SRP can re-evaluate the need
for a deposit. The key factors considered are as follows:
- Financial condition or creditworthiness
- Payment history with others
- Payment history with SRP
SRP may request private company financial statements in order to
complete the evaluation. A deposit will be assessed if you decline
to provide the information needed to complete a credit review. A
consumer credit report may be obtained if you are requesting service
as a sole proprietor and the account will be held in your personal
name.
The deposit amount is intended to cover an amount equal to the
two highest consecutive monthly bills anticipated for the account,
or the receivables at risk, as determined by SRP. In the absence of
relevant billing history, SRP will estimate your bill amount based
on the connected load, type of business and business's operating
characteristics.
The security deposit requirement may be satisfied by cash, a surety
bond, or an irrevocable letter of credit (ILOC) in a form and from a
financial institution satisfactory to SRP. When paying a security deposit
with a surety bond, SRP requires the surety company to maintain a
satisfactory credit rating with A.M. Best Co. For more information
about deposit payment options, call our credit department at (602)
236-9622.
SRP reserves the right to assess new or additional deposits and
reinstate a deposit requirement on an existing customer based on the
customer's SRP payment history, financial condition or creditworthiness,
as determined by SRP. SRP conducts periodic credit reviews to
determine the creditworthiness of business customers. You may be
asked to provide information needed to complete the periodic credit
review, including private company financial statements. If you choose
not to provide the information needed to complete a credit review, a
deposit will be assessed to your account.
Customers who provide a cash deposit receive an interest credit on
their January bills provided SRP has held the deposit for at least six
consecutive months. The interest rate is reviewed annually by SRP and
adjusted to reflect an average certificate of deposit (CD) rate paid by
local financial institutions.
SRP's determination that a deposit is no longer necessary will result
in the deposit, plus accrued interest to date, being credited to your
electric account.
If you terminate service while SRP holds your deposit, the deposit and
any accrued interest will be applied to your final bill. Any amount
remaining will be refunded. Please be sure to contact SRP when you no
longer need service.
SRP may disconnect service if your account is past due. If full payment
is not received by close of business on the due date shown on the
bill, you will be sent, by first-class mail, a disconnect notice indicating
the amount due. Payment must be received by SRP by 5 p.m. on
the specified date to avoid disconnection. We will not disconnect
service for amounts owed to an alternative energy supplier. SRP
representatives disconnecting service cannot accept payments in the
field. When an electric service account is delinquent and it becomes
necessary for an SRP representative to disconnect service, field visit and
disconnection fees will apply.
To restore service that has been turned off for nonpayment, you may
need to pay all amounts owing, plus any additional security deposits,
field visit fees and disconnection fees. A new or additional security
deposit may be charged on all customers' active accounts when
payment is not made within SRP payment terms.
If a payment (i.e., check, e-Chex, SurePay or third-party credit or debit card payment) is returned to us by your financial institution, we will require immediate payment. The payment must be made with a cashier's check or money order in a Customer Service Office. Cash payments can be made at an SRP PayCenter. Payment must be made the same day we notify you of the returned payment. You will be charged a fee for processing the returned payment.
If you have been notified of a pending disconnection or have been
disconnected, and your payment to SRP to continue service or reinstate
service following disconnection is returned by your financial institution,
your service will be disconnected without further notice.
If a customer has two or more returned payments in 12 months, we will
designate the customer and all active electric accounts for the customer
as cash-only. Payment will then need to be made with cash, a cashier's
check or a money order until the account no longer has a cash-only
status. Assessment of an additional deposit may also occur.
You may dispute an SRP bill you think is in error by calling or writing
to SRP. We will investigate all disputes. SRP will not disconnect service
for nonpayment of a disputed charge provided:
- You notify us before the bill becomes delinquent
- You pay all other undisputed charges when due
Write to:
Business Center – Credit
ISB231
P.O. Box 52025
Phoenix, AZ 85072-2025
You may also call (602) 236-9622.
If you are not satisfied with the outcome of the dispute, you may ask
for a special review. If you purchase both distribution and generation
from SRP and your annual usage is less than 100,000 kilowatt-hours
(kWh), SRP's Consumer Ombudsman Office will investigate the dispute
in an effort to resolve the problem. SRP's Executive Dispute Resolution
Committee (EDRC) will be the dispute resolution body for customers
whose annual usage is at least 100,000 kWh. In either case, or if you
purchase generation from an alternative provider, the decision from the
Consumer Ombudsman Office or EDRC is SRP's final determination on the matter.
We can be reached by phone at (602) 236-8833; by mail at Business Center - Credit, ISB231, SRP, P.O. Box 52025, Phoenix, AZ, 85072-2025; or by e-mail at bizcenter@srpnet.com.
Current charges
The following service charges and fees are in effect as of Jan. 1, 2012 and are subject to sales tax and may change as SRP's costs change:
Late fee is 2% of the billing amount, with a $5 minimum
Service establishment fee (next day): $35
Service establishment fee (same day): $55
Returned payment: $18
Field visit: $35
High-bill audit: $55
Disconnection at meter (next day reconnect): $70
Disconnection at meter (same day reconnect): $90
Disconnection at other than meter/j-box: $248
Disconnection at j-box or transformer: $321
Customer-damaged meter lock rings: $58
Customer-damaged kW meter: $362
Customer-damaged kW TOU meter: $362
Theft investigation (per hour): $90
Meter reading - no access: $25
Damaged M-Power® user display terminal: $133