Business credit policy, 2016
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. You may also download our credit policy . For more information, call (602) 236-8833.
Payment and billing
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.
Your payments are applied first to any SHARE pledge, then to unpaid deposits, then to past due balances and then to current bill charges. In the event your payment is meant to cover multiple billing accounts, the same sequence applies regardless of payment posting instructions included with your bill stub.
Final bills on closed accounts are due within 21 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.
There are several payment options available to you:
- Mailed payments can be made with a personal or business check,
cashier's check or money order. Payments can be mailed to:
P.O. Box 80062
Prescott, AZ 86304-8062
- SRP SurePayTM (a direct-debit payment program) automatically withdraws funds from your designated bank account 21 days after the bill date.
- Our eChexTM service lets you pay with your bank account online at srpnet.com, over the phone, or at an SRP PayCenter®.
- SRP PayCenter payments can be made with cash or eChex. To pay by eChex at a PayCenter, you must be registered. To register, call us at (602) 236-8833 or go online to My Account. Locations of SRP PayCenters are also online.
- Credit or debit payments can be made through a third-party vendor. The vendor accepts a maximum payment amount of $750 and charges a small transaction fee. Credit or debit card payments can be made online at srpnet.com/myaccount or over the phone by calling (602) 236-5555 and selecting pay by credit or debit card using our automated system.
Please note: SRP cannot guarantee continuous service if you pay through unauthorized payment processors, including your bank's online payment program or an energy services consultant, 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.
You are responsible for ensuring SRP receives payment in full by the bill due date, even if you choose to have another party pay on your behalf (for example, through a bill payment service or energy services consultant). As an example, if a payment by your bill payment service is returned by a bank or later challenged by another party, you will be responsible to ensure SRP is made whole for the payment, any associated fees and its incurred costs â€” even if you had originally provided the bill payment service with the payment funds.
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 srpnet.com/myaccount to view your bills and select as many eNotes options as you like.
Budget Billing™ helps you balance the seasonal highs and lows of your electric bill to make your payments more predictable each month. We determine your average monthly energy cost over a 12-month period. 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 during the fall months 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 that's convenient for you. Use CDD in combination with SurePay and Budget Billing for the ultimate convenience in bill payment. Go to srpnet.com/billing to get more information and sign up.
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.
You will also be asked to provide your “best” contact information, including your current telephone number and email address or any other number you utilize or obtain in the future. SRP does not sell contact information. Your information is used to contact you to communicate important information regarding your account(s),including billing, payment and collection of moneys due. By providing your phone number, you consent to being contacted at this number through “robocalls” (including calls made either with an automated telephone dialing system or with a prerecorded-voice or artificial-voice) and text messages.
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 be eligible for a credit evaluation to determine any waiver of the deposit assessment.
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. The financial institution must be a domestic U.S. financial institution with branches in Arizona. 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., and the bond is to be issued on SRP's bond form. For small business customers with deposits less than $5,000, SRP has partnered with an insurance company to create a preapproval process for new SRP accounts. 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 to SRP's customer of record. 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 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, disconnection fees will apply.
To restore service that has been turned off for nonpayment, you will need to pay all amounts owing, plus any additional security deposits and disconnection fees. A new or an additional security deposit may be charged on all of a customer's active accounts when payment is not made within SRP payment terms.
Disputes and charges
If a payment is returned to us by your financial institution, we will require immediate payment. The payment must be made with certified funds, such as a wire transfer, cashier's check or money order. Cash payments can be made at an SRP PayCenter. Cashier's checks and
money orders may be sent to:
c/o CDS Global
2286 Crosswind Drive, Suite A
Prescott, AZ 86301
Please call us at (602) 236-8833 for wire transfer instructions.
Payment or payment arrangements 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 a bill you think is in error by calling, writing or emailing us. We will not disconnect service for nonpayment of the amount you dispute provided (1) you notify us before the bill becomes delinquent and (2) you pay all other undisputed charges when due. Write us at:
Customer Communication Services, CUB363
P.O. Box 52025
Phoenix, AZ 85072-2025
You can also email us at firstname.lastname@example.org, or call (602) 236-8833.
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.
The following service charges and fees are in effect as of Jan. 1, 2012, 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
- Lost or damaged M-Power® user display terminal: $133
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 email at email@example.com