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.
Cold Facts on Colfax posted at 1:37 pm on Fri, Sep 28, 2012.
The ACC doesn't regulate SRP, which is a government entity and not a private corporation. Its customers (who vote for SRP management) do. And the legislature had nothing to do with SRP's acquisition of renewable resources. As the Connecticut basketball coach said, "Get some facts and then come back and talk."
Hellraiser posted at 7:45 am on Fri, Sep 28, 2012.
Thanks SRP! My Social Security didn't go up 3.9 percent! Why don't you cut back on some of your expenses???
Bingo6 posted at 4:58 am on Fri, Sep 28, 2012.
Well folks here we go again just bend over and present your backsides to the Oligarchs of the SRP monopolistic robber barons.
.......and their isn't a D%& thing we can do about it, we do know. one thing somebody will die next summer from heat stroke, the elderly and the poor.will need to pay these. bottom dwelling merchants. of greed, in place of food or medicine.
This gives a whole new meaning to all"public utility" ; the public be damned.
WakkoWarner posted at 9:24 pm on Thu, Sep 27, 2012.
Ahh, yes, another rate increase. The company is currently sitting on $50 million in profit, but they need another rate increase. Perhaps they should start cutting back on all the platinum benefits packages that are being paid throughout the entire company.
Everyone else has to learn to cut back, but not SRP. I think it is time for the ACC to start telling all the big power companies in Arizona (SPR, APS, TEP, etc.) that they will not receive another rate increase until they can prove that they have started cutting costs.
We also need to go after the legislature for mandating that they get a certain percentage of their power from 'renewable' resources. All that did was increase the cost of electricity by forcing the use of technology that is still WAY too expensive. Solar and wind can only be used for supplemental power - base power still needs to come from nuclear, hydro, coal, and natural gas. Yes, we should start phasing in supplemental power in the form of solar (wind if only absolutely necessary, as the windmills are ugly, noisy, dangerous to fowl), but we need to wait until the price comes down.