Salt River Project's board of directors approved an average 3.9 percent hike in electricity prices Thursday, following a three-month public process.
According to an SRP news release, the monthly bill of a typical residential customer on the Basic Price Plan will increase by about $6.17.
The board also approved an annual increase of $24 to the discount for low-income customers on the Economy Price Plan, the release said. The increase will be applied to the six summer months resulting in a summer EPP discount of $21 per month; the winter discount will remain at $17 per month.
The utility also pledged a $400,000 contribution in November to the Arizona Community Action Association (AZCAA) Home Energy Assistance Fund for utility bill assistance. And, SRP will give the association $100,000 to jointly study programs to help low-income customers better manage their energy consumption, according to the release.
SRP's rates have not increased in more than two years. The utility said the increase now is necessary to keep reliable service, pay for new renewable resources, and complete required environmental upgrades.