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SRP proposing 8.8 percent electricity rate hike

The Salt River Project is proposing to raise electricity rates for its more than 900,000 customers by 8.8 percent in October.

The rate increase being considered by the public utility serving parts of Maricopa and Pinal County would cost the average household about $12 a month, or nearly $150 a year. The decision will be made by the agency’s directors and can’t be reviewed by regulators.

SRP and the other electric utility serving much of central Arizona, Arizona Public Service Co., have each raised rates repeatedly in recent years. They cite the state’s growth and the rising costs of fuel.

But SRP General Manager Richard Silverman said on July 10 that this increase is meant to help fund a shift to more clean energy in the coming years.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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