Business credit policy
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(602) 236-8833.
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Payment and billing
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.
CDD lets you choose a due date for your electric bill that's convenient for you. Use CDD in combination with SurePay for the ultimate convenience in bill payment. Go to srpnet.com/billing to get more information and sign up.
SRP General Terms of Service
These terms and conditions apply to all business customers. When you request new or additional electric service, you agree to these terms of service and payment.
SRP’s Rules and Regulations are available online at srpnet.com/about/rules-regulations.
To start service or reconnect service if disconnected, we ask for safety reasons that you ensure all appliances and electric devices are turned off to avoid risk of fire.
Customers with four or more residential accounts may be considered businesses and subject to this SRP Credit Policy for SRP Business Customers.
When you request electric service, 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 numbers 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 scheduled and unscheduled outages, billing, payment, and collection of amounts due. By providing your phone number, you consent to being contacted at that number through calls made with an automated telephone dialing system or with a prerecorded voice, live agent or artificial voice and text messages.
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 deposit terms outlined in this policy.
Please contact us at (602) 236-8833(602) 236-8833 when you no longer need service. Your account will have a final bill created for energy used through the date you requested your account be closed. You will be asked to provide a forwarding address to mail your final account statement and any refund that may be due to you. In the event a refund is owed to you from a payment made using a digital payment processing service or credit or debit card, SRP reserves the right to return the funds using the same method of payment.
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 owed 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.
You may dispute a bill you think is in error by calling, writing or emailing us. We will investigate all disputes. SRP will not disconnect service for nonpayment 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 us at:
Customer Communication Services, PAB277
P.O. Box 52025
Phoenix, AZ 85072-2025
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, that 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 or unreturned SRP M-Power® box: $133
Deposits and Credit Evaluations
SRP requires a deposit for all accounts unless a credit evaluation is performed which justifies a deposit waiver. 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, we will estimate your bill amount based on the connected load, type of business and the business’s operating characteristics. If a deposit is required, it will be held for a minimum of three years. After three years of service, you can request a credit evaluation to reevaluate the need for a deposit.
SRP requires a business to be in existence for at least two years to be eligible for a credit evaluation to determine any waiver of the deposit assessment. Your business entity must be in good standing with the Arizona Corporation Commission or similar entity if incorporated outside of Arizona.
If you are a sole proprietor, you will be asked to provide evidence that you have been in business for at least two years. In addition, if you request to hold your account in your individual name, you will be required to provide your Social Security number; otherwise, you are not eligible for a credit evaluation and will be required to pay the deposit assessment.
SRP may request private company financial statements 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 key factors considered in credit evaluations are:
- Financial condition
- Payment history with SRP
- Payment history with others
- Investment grade credit rating with Moody's Investors Service, Standard and Poor's
- Experian BusinessIQ™ business credit report for small businesses with total deposits less than $25,000
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 periodic credit evaluation, a new or additional deposit may be assessed to your account(s).
A new or additional deposit may be assessed based on the outcome of the periodic credit evaluation. Refer to the five key factors listed above.
Your deposit may be reduced by 25% by enrolling in SRP’s 10-day SurePay Program. If you cancel from the program, you will be asked to pay an additional deposit to bring your deposit to the standard deposit assessment.
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 AM Best Co., and the bond must be issued on SRP’s bond form. For more information about deposit payment options, call our credit department at (602) 236-9622(602) 236-9622.
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.
Deposits are held on your account(s) until your account closes or SRP grants a deposit waiver.
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 apply any credit balance on a closed account to any delinquent amounts owed by you.
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.
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.
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 disconnection.
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 for ensuring payment is made to SRP including any associated fees and costs, even if you had originally provided the bill payment service with the payment funds.
SRP reports business credit payment information each month to Experian BusinessIQ™. You can build and preserve your business credit rating by paying your monthly bill on or before the due date each month.
Mailed payments can be made with a personal or business check Payments can be mailed to:
P.O. Box 2951
Phoenix, AZ 85062-2951
SRP SurePay™ (a direct-debit payment program) automatically withdraws funds from your designated bank account on the due date of your bill.
Our eChex™ service lets you pay with your bank account online at srpnet.com or over the phone; eChex payments may also be made via SRP's mobile apps, which are available for download on your iOS or Android device.
SRP PayCenter payments can be made with cash. For the locations of SRP PayCenters near you, visit srpnet.com.
You can also make a cash purchase at many retail locations throughout the Valley. Remember to bring your SRP cash payment card with you. You can use a physical or digital card, which is available through SRP My Account™ or the SRP Power App™.
Credit or digital 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) 236-8833(602) 236-8833.
In the event a refund is owed to you from a payment made using an online payment processing service or using a credit or debit card, SRP reserves the right to return the funds using the same method of payment.
A payment arrangement is when a portion of your deposit or past-due balance is broken into smaller amounts and added to your future monthly bills. If payment arrangements are not paid by the due date on the bill, the agreement will be canceled, the past-due balance will be due in full immediately, and late payment fees may be charged. A reminder notice for the total balance due will be mailed to you. If payment is not received, SRP reserves the right to disconnect service.
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 or cash. Cash payments can be made at an SRP PayCenter. Please call us at (602) 236-8833(602) 236-8833 for wire transfer instructions.
Payment or 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 you have two or more returned payments in 12 months, we will designate all active electric accounts for you as cash-only. Payment will then need to be made with cash or wire transfer until the cash-only status is removed.
You may also be assessed a new or additional deposit.
You may also download our credit policy.