Starting with the November cycle, Tempe and west Chandler residents, along with other SRP customers Valley-wide, will pay an average of $6.17 more per month on their electric bill.
In September, Salt River Project’s board of directors approved changes in the utility’s price plans that, when fully implemented, will result in an overall average 3.9 percent increase in electricity prices.
The increase was nearly 1 percent less than management’s initial proposed increase of 4.8 percent, which had been announced in July.
Also approved was an annual increase of $24 to the discount for Economy Price Plan customers. The Economy Price Plan is available to eligible low-income customers. The increase will be applied exclusively to the six summer months, resulting in a summer EPP discount of $21 per month when customer bills are the highest.
The winter discount for EPP customers will remain at $17 per month.
SRP also committed to a one-time $400,000 contribution in November to the Arizona Community Action Association SRP prices had not increased in more than two years, and revenues were not keeping pace with several higher anticipated costs, according to an SRP press release.