We are realigning prices to better reflect the cost of providing service and to further facilitate electric utility competition. The shopping credit is the energy charge part of the bill and can be used in comparing SRP's prices with those of alternative energy suppliers. With this Board decision, SRP will become the first electric utility in Arizona and the first public power entity in the nation to open its entire service area to generation competition. This action is seven months earlier than required by Arizona's Electric Power Competition Act. Under competition, we will continue to deliver our customers' electricity.
Supply represents about a third of a typical residential monthly bill.
SRP will not release customer names, consumption data or other confidential information to ESPs, unless we have written permission from customers. The price reduction is the fourth decrease in six years. This adjustment is anticipated to take effect May 15, 2000. Additional pricing details will be mailed to customers prior to the effective date of the change. Please do not drive along SRP canal banks.