SRP customers -- your bill is about to go down, but not by much.
The company announced on Monday the SRP Board of Directors approved a temporary decrease in electricity prices for its more than 1 million customers. The 10-month decrease will begin with the January 2017 billing cycle. According to the company, the average household will see a decrease of just under a dollar per month during the winter billing months and around $2.50 to $3.50 per month when the summer billing season begins in May.
“Utility customers are generally more used to seeing price increases than decreases, so we are very happy to be able to lower our prices,” said SRP General Manager and Chief Executive officer Mark Bonsall. “At SRP, our team works hard to identify market opportunities and cut costs where possible to keep our prices low, and this temporary decrease is reflective of our success in these areas.”
The decrease may not be much to one person, but according to SRP, it totals $40 million. SRP credits its solar, wind and geothermal energy, hydro power and energy-efficiency programs and the lower-than-anticipated natural gas for the decrease in costs.