These Board members, who you election to serve at SRP, prioritize affordability and possess the necessary mission, knowledge, and experience to keep SRP rates affordable for all. Your vote can shape the future of electric and water rates, ensuring that SRP remains dedicated to delivering affordable, reliable, and clean power and water to the community.
As a political subdivision of the State of Arizona, SRP’s price process is not governed by the Arizona Corporation Commission (ACC). Instead, their publicly elected Board of Directors holds the authority to establish electric prices, reflecting their commitment to local governance.
These Board Members Hold to Pricing Principles
When making pricing decisions, these SRP’s Board Members hold to principles that guide their actions:
- Cost Relation: Prices are set to reflect the cost of service, ensuring transparency and fairness.
- Sufficiency: Prices maintain SRP’s financial health, enabling them to continue providing reliable power and water services.
- Gradualism: Changes in pricing are approached in an evolutionary manner, avoiding sudden and significant adjustments to minimize impact on customers.
- Equity: Customers are expected to pay their fair share of the costs incurred by SRP on their behalf, ensuring an equitable distribution of expenses.
- Choice: SRP provides customers with various pricing options to empower them in managing their energy costs effectively2.
Keeping Prices Affordable: SRP’s Commitment
We remain steadfast in our commitment to SRP’s core values as a community-based, nonprofit utility. Our unwavering dedication is centered on serving the best interests of SRP’s shareholders and customers, while also championing the environment and fostering strong communities. With this ethos at the forefront, the revenues generated through the sale of electricity are reinvested into the electric grid, enabling SRP to consistently deliver some of the most competitive prices in the entire Southwest region of the United States.
To keep prices affordable, these experienced leaders take several proactive measures:
- Cost Control: We diligently monitor and control costs, and pass on the savings to SRP customers.
- Financial Opportunities: As financial market opportunities arise, our Council members (supported on this site) work with SRP leadership to strategically refinance debt at lower interest rates, reducing overall expenses.
- Capital Investments: We are committed to supporting careful and diligent decision-making when it comes to key assets, including generating stations. By making informed and strategic capital investments, we aim to lower operational costs and ensure the long-term sustainability of our infrastructure.
- Future Planning: The SRP electric needs are growing dramatically. We prioritize planning for future energy needs, that maintain reliability, and affordability, while striving to achieve a more sustainable energy mix.
- Efficient Grid Operations: We support optimizing the management and maintenance of SRP’s electric grid, so that SRP may effectively control costs and minimize operational inefficiencies.
- Empowering Customers: Giving customers a wide variety of choices, to find the best price plan
Find More Ways to Save
We support SRP Rebate Programs and its Marketplace. SRP actively encourages energy efficiency and conservation. To support their customers’ efforts, they provide various rebates on energy-efficient appliances and equipment, including lighting, smart thermostats, cooling systems, insulation, and shade screens. (SRP Residential Rebates, SRP Business Rebates)
For additional savings, they also offer a selection of water- and energy-saving products for your home through SRP Marketplace.
Limited-Income Assistance Programs
For households with limited incomes, the power bill may be one of the biggest bills of the month, especially during summer months. As community leaders we care about their safety and well-being, which is why we promote policies and annual budgets that support SRP programs and resources in place to help in times of need. SRP offers various assistance programs for low-income customers, such as free home energy assessments, free home improvements and weatherization, medical life support discount, economy price plan, and donations to Arizona Community Action Association. Customers can apply to their local agency or call SRP or Southwest Gas for more information. Additionally, SRP partners with the Salvation Army and their customers to provide energy assistance to those in need through SHARE: Service to Help Arizonans with Relief on Energy. Learn how you can help neighbors in need or request assistance to pay for power. (SRP Limited Income Assistance Programs).
SRP’s Affordability: A Comparison
According to a recent report by 12 News, SRP customers enjoy significant cost savings compared to APS (Arizona Public Service) customers. In 2022, SRP customers paid approximately 25% less on their monthly electric bills than APS customers. They take pride in their commitment to keeping rates affordable and ensuring that their customers receive the best value for their energy needs.