2019 public pricing process
The SRP Board of Directors concluded a public process on March 25 by approving an overall average annual price decrease of 2.2% to begin with the May 2019 billing cycle.
The changes to SRP’s Standard Electric Price Plans Effective with the May 2019 Billing Cycle as approved by SRP Board of Directors on March 25 are now available.
Overview of Approved Changes
SRP concluded a public pricing process on March 25 by approving an overall average annual price decrease of 2.2%. The changes will take place with the May 2019 billing cycle, which for most customers begins in April. Highlights of the proposal include:
- An overall average annual price decrease of 2.2%
This is the result of a reduction in fuel expenses and a modest increase in base prices. The approved decrease incorporates and adds to the decreases that SRP initially implemented on a temporary basis during Fiscal Year 2019. Individual impacts will vary by price plan and usage.
- New time-of-use on-peak hours
Summer on-peak hours are shortened by one hour, changing from 1–8 p.m. to 2–8 p.m., providing customers on the TOU, Customer Generation, Residential Demand and Electric Vehicle price plans with an additional hour of lower-cost power.
- New price plans for those who generate some of their own electricity
There are three new price plans for residential customers who produce their own energy with rooftop solar and other technologies. Two of these options have no demand charge associated with them.
- Increased discount for those on the Economy Price Plan (EPP)
The discount for customers who qualify for the EPP will be increased to $23 per month year-round, from $20 in winter months and $21 in summer months.
- Increased contributions to the Bill Assistance program
SRP contributions to the Bill Assistance program for limited-income customers will increase to $500,000 for the next five years.
- A change to EZ-3 plans
The 2–5 p.m. EZ-3 experimental plan is frozen from new participation and will be eliminated in two years. The 3–6 p.m. and 4–7 p.m. options remain.
- Environmental programs continue, but costs rolled into other billing components
Renewable energy and energy efficiency are part of SRP's core business. As such, the Environmental Programs Cost Adjustment Factor (EPCAF) will be discontinued as a separate price plan component. Costs of renewable energy and energy efficiency will instead be captured through base prices and the Fuel and Purchased Power Adjustment Mechanism (FPPAM). Additional information about this change is available.
SRP management has also committed to increase SRP’s current battery storage program incentive from $150 per kilowatt hour (kWh) to $300 per kWh of storage capacity, up to a maximum of $3,600 per system. The doubling of the incentive will be capped at 4,500 installations.
SRP is a community-based, nonprofit utility. We make decisions in the best interest of our customers, the environment and the communities we serve. Revenues received through the sale of electricity are reinvested into the electric grid and help keep SRP prices among the lowest in the Southwest.