SRP Set to Hike Monthly Utility Bills by 3.5%

PHOENIX — The Salt River Project (SRP) announced plans on Monday to increase utility rates as part of its initiative to fund necessary upgrades to its power system. The proposed overall price increase is projected at 2.4%, leading to an average monthly bill rise of approximately 3.5%, or $5.64. This adjustment is set to take effect in November 2025.

SRP clarified that the actual increases will vary based on individual energy usage and the specific price plan chosen by customers. This proposal comes after the SRP board last modified base prices in 2019.

CEO Jim Pratt articulated the reasoning behind the proposal, citing rising operational costs, necessary electric grid improvements for enhanced reliability, and efforts to meet sustainability and decarbonization goals as key factors. “We are also addressing increased labor costs and enhancing customer service,” Pratt stated.

The board is scheduled to review the pricing proposition, allowing for public feedback prior to a vote during a special meeting on February 27, 2025. To further inform customers, SRP will host open house events where community members can learn about the changes. These events are set for January 7 at Glendale Community College and January 9 at the ASU Polytechnic campus in Mesa.

For those interested in additional information pertaining to this process, SRP’s official channels provide comprehensive details.

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