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Salt River Project, one of the largest utilities in Arizona, recently announced it will bring its proposed rate hike back down to about $6 per month, however this electricity rate was still met with criticism from residents, who are urging the utility to bring them down further.
According to the Arizona Republic, the utility first announced in July it would raise the average household electric bill by about $7 to roughly $139. However, the company lowered this amount by $1 after discovering it will bring in additional revenue in 2013 and 2014 by selling geothermal energy to California.
"Management has done many things to shoulder the recession as much as we could," said Dean Duncan, SRP treasurer and senior director of financial services. "We believe we have reached the point where we must raise prices."
But despite this price drop, SRP customers say it is still far too high for them to pay for crucial power.
"This price increase will have a dramatic effect on me," said Heidi Markus, a 53-year-old from Mesa who has monthly bills of about $300 already.
Fortunately for Arizona ratepayers, the state's energy deregulation laws allow them to shop around for lower electricity rates, which are offered by retail energy providers operating within Arizona.