Arizona utility extends reduction in electricity prices until April

PHOENIX — Some Arizona residents will soon see some savings on their electricity bills after a utility company voted Monday to extend a price reduction for all of its customers.

Salt River Project’s board of directors extended a temporary decrease in electricity prices for another six months. The decrease was originally passed earlier this year.

This means that from November through April, customers will save about $1.60 per month on their electric bill. That will equate to $24.2 million in savings Valley-wide over the six-month period.

“It will be automatically applied on their bill,” SRP spokesman Scott Harelson told KTAR News 92.3 FM. 

“When SRP can find ways to save money, we can pass those savings onto our customers.”

The utility company in March originally approved an $18.8 million temporary decrease that was set to end this month.

Harelson said the temporary decrease was possible due to the decreasing cost of natural gas.

“(Fuel costs) are a big expense for a utility,” he added. “It requires lots of fuel to generate the amount of electricity that is used.”

SRP serves more than 1 million customers across the Valley.

KTAR News 92.3 FM’s Ashley Flood contributed to this report. 

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