SRP drops prices as fuel costs fall

Salt River Project customers will be paying a little less for electricity in May after the group’s board voted to drop rates for all customers.

The average decrease — the result of lower fuel prices combined with a slight increase in base prices — represents about a 2.2 percent decline.

Overall, customers will save about $64 million, SRP officials said. It equates to about $1.78 per month for residential customers.

SRP has kept its rates fairly stable during the past four years in part because…

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