SRP votes to refund $30M to customers over investing more in sustainability

screen-shot-2016-12-06-at-7-34-45-amUse of renewable energy and efficiency can be reviewed in March with the budget

By Ryan Randazzo | The Republic

Salt River Project’s elected board members debated Monday whether to return $30 million in surplus funds to customers or to spend the money on more environmental programs, opting for the former.

Customers should see their monthly bills reduced by about 80 cents on average in January, with savings of about $2.50 a month when the summer arrives and $3.50 for the hotter months of July and August.

SRP has surplus revenue after a hot summer and abnormally warm October that kept air-conditioners running, and money flowing, to the public utility.

“It was a warm year, and we’ve seen sales pick up,” said Aidan McSheffrey, associate general manager and chief financial executive.

Continued:

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