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SRP to Hold Pricing Workshop for Commercial Customers
SRP customers will experience an overall 2.4 percent price increase, effective with the November billing cycle. This change reflects an increase of $169 million in base revenue to support upgrades to the electric system and meet the cost of customer programs, among other things. This will be offset by a decrease of $68.7 million in fuel and purchased power expenses, which are recovered through the Fuel and Purchased Power Adjustment Mechanism (FPPAM) rate.
SRP Commercial and Industrial customers will experience an average bill increase of 1.3%. Impacts vary based on the amount of energy used and when it is used. SRP will also update time-of-use hours for current Business Time-of-Use (E-32) and Industrial (E-61, E-63, E-65, E-66 and E-67) price plans.
SRP is a not-for-profit utility and does not have investors. Any revenues in excess of expenses are reinvested back into our electric system to help maintain price stability for customers.
Even with these changes, SRP customers will still pay among the lowest electricity prices in the southwestern U.S. and the lowest rates of any major utility in the state.
