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By: Steve Goldstein on 09/11/2012
Salt River Project has reduced the amount of its proposed electricity rate hike, but only by one dollar. From Phoenix, KJZZ's Steve Goldstein has more.
The Tempe-based public utility announced in July it would pursue a rate increase that would raise the average household's monthly bill by about $7 dollars to nearly $139 dollars on average.
SRP officials have decided to reduce the rate increase request by $1 dollar because it will earn extra revenue over the next two years selling renewable energy from a geothermal power plant near the Salton Sea to a California utility.
SRP says the rate increase is needed to pay for power plant maintenance that's been deferred over the past few years during the economic slowdown.
SRP's board of directors will vote on the increase September 27th.