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 pay the same amount each month to manage high summer bills. You can even choose the due date of your electric bill. This information explains our credit practices and describes customer programs that will 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 a 12-month period.
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 which to transfer an unpaid final bill, the account will be referred to a collection agency.
- Mail. Payments to SRP can be made by mail with a personal or business check, cashier's check, or money order. Payments can be mailed to:
SRP
P.O. Box 2950
Phoenix, AZ 85062-2950
- SurePay™ (a direct-debit payment program). This direct-debit payment program offers a 1% discount on SRP energy and delivery charges under E-32, E-36, E-47 and E-48 price plans. SRP will automatically withdraw funds from your financial account 10 days after the bill date.
- e-Chex™ . This service lets you pay by check online, over the phone, or at our SRP PayCenters®. Payment through our Web site, our automated phone system or PayCenters is free. If payment is made with assistance from a customer service representative, a fee of $6 plus tax will be charged for the second and subsequent payments made on any account in a 12-month period.
- SRP PayCenter. You can pay your bill with cash or e-Chex at any of the automated SRP PayCenters located throughout the Valley. To pay by e-Chex at an SRP PayCenter, you must first be registered with us. Please call us at (602) 236-8833 and we'll be happy to register you. View locations of SRP PayCenters near you.
- Customer Service Offices. You can pay in person at any of SRP's Customer Service Offices during business hours. Checks and money orders are accepted. For your safety and the safety of our employees, we cannot accept cash at the counters at the Customer Service Offices. View locations and hours of the offices and SRP PayCenter
terminals near you or call us at (602) 236-8833.
- Credit card. One-time, fee-based credit card payments for amounts of $500 or less can be made through NCO Services Group (a third-party company). To make a credit card payment by phone, please call (800) 741-9099. Speech- or hearing-impaired may use NCO's TDD line, at (800) 367-8939. Credit card payments also may be made online using the same company.
Please note: SRP cannot guarantee continuous service if you pay through nonauthorized payment processors who may not remit your payments to SRP in a timely manner. If payment is not received by SRP by the due date on the bill, a late payment fee may apply and your service may be subject to disconnect.
Customers on the general business price plan (E-36) or time-of-use price plan (E-32) can receive automated notifications that alert you of certain conditions on your account. You can receive e-mail and/or text reminders when your bill is ready to be viewed, when payment is due, when payment is past due, and even a confirmation of your payment posting to your account.
You can also elect to no longer receive your paper bill. You don't need to keep the paper statements because we do that for you by storing up to three years of billing history online. Go to My Account, select "e-Notification" and choose as many optionss as you like.
MPP helps you budget high summer bills by averaging your bills over a 12-month period so that you can pay the same amount every month, provided that your pattern of electric usage does not change. You may enroll in MPP throughout the year. We will estimate your average monthly bill if a 12-month billing history is not yet established.
MPP accounts are reviewed periodically and, if appropriate, your payment may be adjusted to reflect significant changes in usage or prices. Your enrollment in MPP will be cancelled if you miss two consecutive payments.
CDD lets you choose a due date for your electric bill(s) that's convenient
for you. You can choose almost any day of the month for your electric bill
due date. Use CDD in combination with SurePay and
Managed Payment Plan 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 and/or Social Security number, type of business, responsible party, financial statements and legal documentation, such as your Articles of Incorporation, Partnership Agreement, Articles of Organization, etc. Your business entity must be in good standing with the Arizona Corporation Commission (ACC) or similar regulator if incorporated outside of Arizona. You may be asked to provide documentation to show good standing if SRP cannot verify with the ACC.
Customers with more than four (4) residential rated accounts may be considered businesses and subject to this SRP Credit Policy for 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 customer-of-record 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, 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 or release 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. You will be required to provide a deposit prior to setting up service if you decline to provide a valid social security number.
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:
- Financial condition or creditworthiness
- Payment history with others
- SRP payment history
SRP may request private company financial statements in order to complete the evaluation. 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.
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(s).
The deposit amount is intended to cover a line of credit 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 connected load, the type of business and its operating characteristics.
The security deposit requirement may be satisfied by a surety bond, an irrevocable letter of credit (ILOC) in a form and from a financial institution satisfactory to SRP, or cash. When paying a security deposit with a surety bond, SRP requires the surety company to maintain a satisfactory credit rating with A.M. Best Company.
SRP reserves the right to assess new or additional deposits and reinstate a deposit requirement on an existing customer if your SRP payment history, financial condition or creditworthiness, as determined by SRP, warrants such action. 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 may be assessed to your account(s).
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.
For more information on deposit payment options, call our Credit Department at (602) 236-9622.
If you terminate service while SRP holds your deposit, the deposit and any accrued interest will be applied to your final bill and any amount remaining will be refunded. Please be sure to contact SRP when you no longer need service.
If a payment (i.e., check, e-Chex, SurePay, or third-party credit card payment) is returned to us by your financial institution, we will require immediate payment. The payment must be made with 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 to 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 a 12-month period, we will designate the customer as cash only for all active accounts. Payment will then need to be made with cash, cashier's check, or money order until the account is no longer in 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 Consumer Ombudsman Office or the EDRC decision is SRP's final determination on the matter.
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 mailed, 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 disconnect 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 your active accounts when payment is not made within SRP payment terms.
Current charges
The following service charges and fees are in effect as of Aug. 1, 2009, and are subject to sales tax and may change as SRP's costs
change:
- Late fee: the greater of $5 or 2% of the billing amount, plus tax
- Service establishment fee (next day): $28
- Service establishment fee (same day): $70
- Returned check/returned SurePay fee: $20
- Field visit: $25
- Disconnection at meter (next day reconnect): $65
- Disconnection at meter (same day or Saturday reconnect when available): $85
- Disconnection at transformer: $248
- Disconnection at underground: $321
- Customer-damaged meter lock rings: $25
- Customer-damaged commercial meter (depending on meter type and degree of damage): $80-$270
- Theft investigation (per hour): $81
- Meter reading no access: $ 25
- Damaged M-Power® user display terminal: $127
- SRP M-Power card: $6
We can be reached by phone at (602) 236-9622.
You also may write to us at:
Business Center – Credit
ISB231
P.O. Box 52025
Phoenix, AZ 85072-2025
You can also e-mail us at bizcenter@srpnet.com.