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SRP to lower bills 1.1 percent on average

Salt River Project customers will soon see their bills drop, albeit just slightly.

According to NBC News, a new SRP pricing plan will reduce its customers' bills an average of 1.1 percent beginning in May.

The pricing plan reduces two components of SRP's electric prices and will be in effect for the six summer billing months in 2013, saving a typical residential customer about $1.72 per month, according to information provided by SRP.

SRP is able to lower bills thanks to some favorable budgeting that saw the utility provider save $20.5 million.

SRP has about 970,000 customers.

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