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SRP proposes rate increase for 2025

By
Published  December 3, 2024 7:55am MST
Consumer
FOX 10 Phoenix

SRP proposing rate increase for late 2025

SRP officials say money generated by the rate increase would support power system upgrades. The last rate increase for SRP was in November 2023.

The Brief

    • SRP is proposing a 2.4% rate hike.
    • If approved, the rate hike will take effect in November 2025.
    • The last rate hike for SRP happened in 2023.

PHOENIX - Customers with Salt River Project customers could see an increase in their electric bills in 2025.

The utility firm is looking for a 2.4% price increase, and if approved, it would begin in November 2025.

Money generated by the rate increase would support power system upgrades. SRP officials say if the hike is approved, the average customer would see a monthly bill increase, on average, about $5.5.

Its last rate increase for SRP customers happened in November 2023, to the tune of almost 5%.

The Source

  • Information for this article was gathered from the Salt River Project.