ARIZONA NEWS

Phoenix-area power company approves customer rate increase starting in November

Sep 13, 2022, 11:10 AM

(Screenshot/SRP YouTube)...

(Screenshot/SRP YouTube)

(Screenshot/SRP YouTube)

PHOENIX – Customers of Salt River Project will be zapped with a price hike for power starting in November, after the Arizona public utility voted for the increase Monday.

SRP’s board of directors said the yearly price will rise an average of $5.58 per month. Directors also approved the same amount to also be applied beginning in November 2023.

The power company pointed to higher costs of natural gas and added it wouldn’t be collecting $124 million that customers owe from previous years.

“SRP is rebalancing our prices to address our substantial under collection with two incremental increases and forgoing collection of a significant amount so that price changes are gradual, and costs are spread equitably among all customers,” CEO Mike Hummel said in a press release.

“By breaking up the necessary increase and announcing this upfront, we allow customers to anticipate and plan for upcoming changes.”

In a related move, SRP voted to keep developing its project at Copper Crossing near Florence. The first phase will add a pair of natural gas turbines and small-scale, long-duration energy storage technologies.

“This project will help SRP meet the Valley’s growing power capacity needs, and specifically, the forecasted critical need for additional generation resources by summer of 2024,” Hummel said in a separate announcement Monday.

SRP provides electricity to about 1.1 million customers in metro Phoenix and water to about half that many.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

woman cutting a sandwich in the back of house...

KTAR.com

Eligible Mesa small business owners can register for low-cost college courses

A new program in Mesa is expanding ways that small business owners can earn college credits. 

6 hours ago

(Photo by Mario Tama/Getty Images)...

Associated Press

Judge denies Phoenix request to extend clean up time at The Zone

A judge on Tuesday denied the city of Phoenix’s legal request seeking extra time to clean up the city’s largest homeless encampment.

10 hours ago

House Speaker Kevin McCarthy is surrounded by staff, security and journalists as he walks to the Ho...

Brandon Gray

Kevin McCarthy out as speaker of the House: How Arizona representatives voted

In a 216-210 vote, House Speaker Kevin McCarthy was voted off his post, making him the first in history to be removed from the role.

10 hours ago

(ADOT Photo)...

KTAR.com

ADOT uses updated technology to improve operation of freeway ramp meters

Updated technology has allowed the Arizona Department of Transportation to optimize the operation of its freeway ramp meters.

11 hours ago

Mug shots of Frank Avila, left, and Albert Valenzuela. The men were arrested after a Phoenix bus ro...

KTAR.com

1 man dead, 2 arrested after Phoenix bus robbery leads to hit-and-run collision

A man faces possible murder charges after a victim he allegedly tried to rob on a Phoenix bus was hit and killed by a vehicle while fleeing.

12 hours ago

...

KTAR Video

Video: What would it mean if the city of Phoenix entered into a “consent decree?”

Maricopa County Sherriff Paul Penzone announced Monday that he would not run for re-election and after bringing in a police chief following a national search, Mike Broomhead ponders what message the city of Phoenix would send by entering into a consent decree. Video: Jeremy Schnell and Felisa Cárdenas/KTAR News

15 hours ago

Sponsored Articles

...

SCHWARTZ LASER EYE CENTER

Key dates for Arizona sports fans to look forward to this fall

Fall brings new beginnings in different ways for Arizona’s professional sports teams like the Cardinals and Coyotes.

...

Ignite Digital

How to unlock the power of digital marketing for Phoenix businesses

All businesses around the Valley hopes to maximize their ROI with current customers and secure a greater market share in the digital sphere.

...

DAY & NIGHT AIR CONDITIONING, HEATING AND PLUMBING

Here are the biggest tips to keep your AC bill low this summer

PHOENIX — In Arizona during the summer, having a working air conditioning unit is not just a pleasure, but a necessity. No one wants to walk from their sweltering car just to continue to be hot in their home. As the triple digits hit around the Valley and are here to stay, your AC bill […]

Phoenix-area power company approves customer rate increase starting in November