Business Credit Policy
This credit policy is published to inform you of SRP's terms and conditions
of sale and to help you protect your credit rating. It also is intended to
reduce the financial risk to SRP of bill non-payments, and thereby, to keep
prices low for all customers. While fees, deposits and disconnection of
service are sensitive topics, they are critically important topics for you to
understand.
This credit policy 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 within 21 days after we have issued them. 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 of the
greater of $4.45 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.
Final bills are due within 14 days after being issued.
Payments to SRP can be made by mail with a personal or business check, cashier's check,
or money order. Or, you may pay in person at an SRP
Customer Service Office
or at an automated SRP PayCenter®
terminal, some of which are available 24 hours a day, seven days a week.
- SurePay by Bank Account (a 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 is a service that 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 at any of the
automated SRP PayCenter terminals located at selected
sites around the Valley. Some are available 24 hours a day, 7 days a week. You can pay with cash at all
locations. To pay by e-Chex at a PayCenter, you must be registered with us. Once you're registered
to use e-Chex, you can go to any PayCenter terminal to pay your bill using e-Chex. We'll be happy to sign you up. Please
call us at (602) 236-8833.
Added convenience: We have offices and SRP PayCenters that are conveniently located throughout the Valley to
serve you. For the location and hours of the offices and
SRP PayCenter terminals near you,
please call us at (602) 236-8833.
Address letters to:
SRP, Commercial Customer Services
ISB231
P.O. Box 52025
Phoenix, AZ 85072-2025
Or, e-mail us at commercl@srpnet.com.
- Credit card. One-time, fee-based, credit card
payments can be taken through a third party company. To make a credit card payment by phone, call NCO Services
Groups toll free at 1 (800) 741-9099 Monday through Friday, 5 a.m. to 7 p.m., and Saturday from 5-9 a.m.
(Arizona time). Credit card payments may also be made online using the
same company. Speech or hearing impaired may use NCO's TDD line, at 1 (800) 367-8939.
Please note: SRP cannot guarantee continuous service if you pay through non-authorized 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.
- Managed Payment Plan. The
Managed Payment Plan (MPP) averages your bills over a 12-month period
so that you can pay about the same amount every month, providing that your pattern of electric usage
does not change. MPP helps you budget those high summer bills. MPP accounts are reviewed periodically
and, if appropriate, your payment may be adjusted to reflect significant changes in usage. We require that
the account be active for the twelve months preceding enrollment so that we can develop an accurate projection
of the monthly payment. We may remove the account from the MPP program if you do not pay the bill in full
by the due date.
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. 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.
A security deposit may be required at the time service is requested. 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.
If you opt to purchase your power from another energy service provider, but you retain distribution service
from SRP, we will bill the alternate energy service provider for the distribution and other services rendered.
SRP will not require a deposit from you.
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. For more information on deposit payment options, call (602) 236-9622.
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.
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 requires a business entity to be in existence for at least three years in order to waive or
release a deposit. 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:
- your financial condition or creditworthiness;
- your payment history with others; and
- your SRP payment history.
SRP may request private company financial statements or a personal credit check using a consumer
credit reporting agency in order to complete the evaluation. 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).
You will be charged a service fee on your first bill to cover the initial expense of
establishing your account. Fee amounts are listed at the end of this policy summary.
If you turn off 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.
View SRP's business deposits and fees.
If a payment (i.e., check, e-Chex, SurePay by Bank Account, or credit card payment)
is returned to us by your financial institution, we will require immediate payment.
The payment must be made with cash, cashier's check, or money order in a business office
the same day you are notified. You will be charged a fee for processing the returned
payment item. If you have been notified of a pending disconnection, or have been
disconnected, and your payment to SRP to maintain continuity of 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." 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 non-payment
of a disputed charge provided (1) you notify us before the bill becomes delinquent
and (2) you pay all other undisputed charges when due.
Write to:
SRP Commercial Customer Services
ISB 231
P.O. Box 52025
Phoenix, AZ 85072-2025
You may also 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 both cases, 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.
Customers on the general business price plan (E-36) can receive automated notifications that
alert you of certain conditions on your account. You can receive e-mail reminders when your bill
has been mailed to you, when payment is due, when payment is past due, and even a confirmation of
your payment posting to your account. You can also turn off 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 your online account,
select the "e-notification" option and choose as many options as you like.
To restore service that has been turned off for non-payment, you will be required to pay
the past due balance plus any additional security deposits, field visit fees, and
disconnection fees. A new or additional security deposit may be charged on accounts
not paid within credit terms.
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,
depending on what prompted the name change, you may be subject to the terms outlined under
Deposits and Service Fees.
SRP has offices conveniently located
throughout the Valley to serve you.
For the location and hours of the office
and automated SRP PayCenter®
terminals near you, please call us at (602) 236-8833.
Address letters to:
SRP, Commercial Customer Services
ISB 231
P.O. Box 52025
Phoenix, AZ 85072-2025