Customized for customers of

Not your utility provider?

Which is the best SRP rate plan?

Utilities rates can be confusing and sometimes misleading. Finding the best rate plan can require you to filter through hundreds of boring electricity tarrif book pages. Luckily, we have done this for you! This article will give you all the information you need to find the best rate plan for you.

Why are SRP's electricity rates Lower than other utilities in Arizona?

Salt River Project is a community based not-for-profit water and energy company. SRP provide electricity to approximately 1 million people across three of Arizona's counties, including most of the Phoenix metropolitan area.

Renewable energy generation supplies approximately 15% of their retail energy supply requirements. This substantial amount is far more than most utilities of the same size. SRP have also stated they will continue to work to lower emissions and invest in renewable energy in the future.

As a not-for-profit, SRP don't have as much pressure to make money as Investor Owned utilities do. This is the main reason why they can (and do) charge less for electricity than other utilities in Arizona.

What is a kWh?

Before we jump into the rate plans, it important to outline what a kWh is, as it is the main measurement of electricity. kWh is the abbreviation used for kilowatt-hour, meaning 1000 Watt hours. For example a 1000 Watt toaster left on for 1 hour will use 1 kWh. 1 kWh is a substantial amount of energy. To use a more natural example, consider a very fit person riding hard on a stationary bike connected to a generator would take around 5 hours to generate an equivalent amount.

A summary of SRP residential rate plans?

SRP have Tiered, Time-of-Use (TOU) and a prepaid plan available to residential customers.

A tiered rate plan is where the price paid per kWh changes depending on how many kWhs have been used that month. The amount (in kWhs) at which the rate changes is sometime referred to as the baseline amount. Usually, you will be charged a lower amount per kWh until you use above the baseline amount then you'll be charged more.

Time-of-Use (TOU) billing is when electricity is charged a different rate depending on what time of day and/or season of the year it is. Time-of-Use plans will have a peak period where energy is charged at a higher rate and a Off-Peak period charged at a reduced rate. Time-of-Use billing is a way in which utilities can reflect the way the real costs of energy supply changes through the day and season more accurately, and encourage users to schedule their consumption in a way that reduces peak demand.

What are SRP's Tiered rate plans?

SRP offers a tiered rate plan. They call it Basic Price Plan. This plan is typically for customers who don't typically use a lot of energy. The basic price plan is dependant on what season it is, as with all of SRP's plans. The Prices per kWh are shown below. If you want to know more check out the basic price plan sheet.

Plan Name: Residential (E-23)
Last Update: May 1, 2018
Fixed Charge: Service Charge: $20
Summer (July 1 to August 31)
Rate per kWh
Tier1: $0.116
Tier2: $0.117
Tier3: $0.132
Energy in Tier
Tier1: First 700 kWh
Tier2: Next 1,300 kWh
Tier3: Above 2,000 kWh
Winter (September 1 to June 30)
Rate per kWh
Tier1: $0.08
Energy in Tier
Tier1: All kWhs

What are SRP's Time-of-Use price plans?

This is one of the TOU price plans offered by SRP. SRP claims customers on TOU save a average annual saving of nearly 6% on their electricity bill.

Plan Name: Customer Generation for Residential (E-27)
Last Update: May 1, 2018
Fixed Charge: Service Charge: $32.44
Summer (July 1 to August 31)
Rate per kWh
Off-Peak: $0.041
Peak: $0.062
Weekday Times
Off-Peak: Midnight to 1pm, 8pm to midnight
Peak: 1pm to 8pm
Weekend Times
Off-Peak: All hours
Peak:
Winter (September 1 to June 30)
Rate per kWh
Off-Peak: $0.039
Peak: $0.043
Weekday Times
Off-Peak: Midnight to 5am, 9pm to midnight
Peak: 5am to 9am, 5pm to 9pm
Weekend Times
Off-Peak: All hours
Peak:

For more information view the TOU price plan sheet.

EZ-3 Price Plan

The EZ-3 price plan is also a Time-of-Use (TOU) price plan. The EZ-3 has a On-Peak period of 3-6pm on weekdays. All other times, including weekend and holidays (New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day) are Off-Peak.

For more information consult the EZ-3 price plan.

Customer Generation price plan

The Customer Generation price plan is the price plan for residential customers who choose to produce some of their own electricity using rooftop solar or other means.

On-Peak hours are weekdays from 5-9 am and 5-9 pm November through April and weekdays from 1-8 pm May through October. All other times, including weekends and six holidays, are Off-Peak. The Customer Generation price plan has the same off and On-Peak periods as the TOU price plan.

Image source: www.srpnet.com


Although this plan offers the lowest generation charge, customers will also be charged a demand billing charge.

The demand charge for each billing cycle is calculated per kilowatt (kW). It is based on the 30-minutes interval during On-Peak hours when your home used the maximum or peak amount of electricity. These intervals are measured between the hour and half-hour during On-Peak hours (for example, between 1 and 1:30 pm or 1:30 pm and 2 pm etc.).

Place holder for "On-Peak demand charges (per kw)" table

If you want to know more about this plan, check out the Customer Generation price plan sheet.

Electric Vehicle price plan

The Electric Vehicle (EV) price plan is for customers who own or lease highway-capable plug-in hybrid electric vehicles (PHEV) or battery electric vehicles (BEV).

This price plan is similar to the TOU plan, although it is limited to the first 10,000 customers.

This plan boasts modest rates that can be found below.

Image source: www.srpnet.com

To find out more read the EV price plan sheet.

How does the prepaid price plan work?

SRP offers a prepaid price plan to residential customers. This plan is called the M-power price plan. This plan is designed to put control of energy costs back into the customers hands. After you enroll in this program, you will receive a M-power in-home display and 2 smart cards.

The M-power in-home display is used to see how much power you are using and how much credit you have on your cards. The cards can be topped up at any of the 120 SRP PayCenter machines located throughout the phoenix metro area.

As with most SRP plans, the electrical charge is dependant on the time of year. The M-power plan charges a fix rate, which can be seen in the images below.

This plan boasts modest rates that can be found below.

Image source: www.srpnet.com

For more information read the M-power price plan sheet.

How do I work out if I am on the cheapest SRP rate plan for my usage pattern?

If you can limit your usage during peak times then a Time-of-Use plan is probably going to end up cheaper. However, if you cannot limit usage during peak times, then a normal Tiered plan is probably the way to go.

Big utilities are all making the switch to Time-of-Use billing. So, it could be a good idea to get into the habit now of shifting some of your power usage away from peak times.

To do an exact comparison on how much you would save from switching plans requires collecting your detailed usage data for the last 12 months. This is known as Interval Data and sometimes also called Green Button Data.

 

Interval Data
Green Button data

 

Interval or Green Button data is your electrical usage data for the last 12 months in one hour (or even shorter) intervals. This data is available from your utility provider.

 

HINT: Often the easiest way to get this data is to ask a solar company to get it for you as they need to retrieve this data in order to properly estimate the costs and savings that might be available to you by installing solar panels in the SRP area.

How do I get my Interval Data for the last 12 months?

This data is available from SRP. They are required by the law to send it to you, but contacting them and submitting a request is not the easiest way to obtain the data.

If you own your home and it is a single family dwelling then a really good way to get this data for free is to request solar quotes from local solar companies.

Generally solar offers much bigger savings than swapping plans (as the plans are designed to give the same overall cost to average consumers) and a solar designer will usually need to get this same data to work out what size solar system would cover your bill and to forecast savings accurately for you.

Solar companies will usually retrieve and analyze your interval electricity usage data for free in the hope of winning your solar business.

Calculate the savings you will get from installing solar panels on your home in the SRP territory!

Calculate

How much can I save per month by swapping to my cheapest plan?

For most people the amount you can save by swapping plans is minimal because the electricity plans are approved by the Public Utilities Commission (PUC) and plans are designed to work out roughly the same in terms of total costs for consumers with average consumption patterns.

In most cases savings will be between $0-$15 per month but could be much larger for high energy users or for homes and businesses with non-typical usage patterns.

If you really want to save money, go solar. You can save thousands of dollars off your electricity bills from going solar.

Solar has 7 year payback period in Arizona. This means if you purchase a system, it will take around 7 years to pay for itself. Then the system will provide you with 18 years of free power. For example, a 5.7kW solar system installed in Arizona will likely save customers $50,000 off their power bills over 25 years (based on a $138 monthly power bill). Solar has many other benefits and is the best investment you can make to lower power bills.

Going solar has never been easier, and the available incentives makes it the perfect time. The decision to install Solar is a no-brainer, talk to local solar installers about your options or use this free calculator to see how much solar can save you.

Find out how to reduce your SRP electricity bill.