PHOENIX — Salt River Project customers may be paying more for utilities starting late next year.
SRP opened a public pricing process on Monday seeking a 2.4% price increase.
Effective with the November 2025 billing cycle, average SRP residential customers would see a monthly bill increase of 3.5%, or $5.64, if approved.
“This price change reflects a proposed increase of $168.8 million in base revenue to support upgrades to the power system and an anticipated decrease of $67.7 million in fuel and purchased power revenues, which are recovered through the Fuel and Purchased Power Adjustment Mechanism (FPPAM) rate,” SRP said Monday.
The company says other elements of the price increase proposal include:
- Increasing the limited-income Economy Price Plan bill credit to $25 a month and expanding program eligibility so more customers can participate
- Tiered residential monthly service charges
- New price plans with super-off-peak daytime time-of-use hours
- Freezing new participation in some current time-of-use price plans
The plan will be reviewed and the public will have a chance to weigh in on the proposed changes.
To learn more about the plan, see a schedule of public meetings and open house events, or submit feedback online, click here.
A final vote will be made at a public meeting at the end of February 2025.
