Salt River Project

What Salt River Project does

Salt River Project (SRP) is one of the United States' largest publicly owned, not-for-profit electric and water utilities, headquartered in Tempe, Arizona, and operating exclusively within a designated service territory in central Arizona. Founded in 1903, SRP is legally structured as a political subdivision of the State of Arizona (the Salt River Project Agricultural Improvement and Power District and the Salt River Valley Water Users' Association), is owned by its customers and water shareholders, and is governed by an elected 14-member board. SRP delivers electricity to approximately 1.2 million residential, commercial, industrial, and agricultural accounts and supplies roughly 260 billion gallons of water annually to the Phoenix metropolitan area, with rates reported 37% below peer Southwest utilities and #1 reliability among large utilities in the region per 2024 EIA SAIDI data.

SRP's generation portfolio is diversified across natural gas, coal, nuclear, and a rapidly expanding renewables and storage mix - including 1,570+ MW of battery storage and 1,560+ MW of solar capacity in operation, with major PPAs and ESAs extending this to multi-gigawatt solar and multi-gigawatt-hour storage additions through partnerships with NextEra (3 GW solar + 1 GW storage), Enlight / Clēnera (1.2 GW solar + 4 GWh storage at the CO Bar Complex), Aypa Power, Invenergy, and EDP Renewables. The utility is also piloting novel long-duration storage technologies via Energy Dome's CO2-based battery (19 MW, 10-hour) and ESS Tech's iron flow battery (5 MW, 50 MWh), with Google participating as a cost-sharing partner. Grid modernization assets include advanced metering infrastructure, demand response (Bring Your Own Thermostat), customer-side solar and battery integration (SRP Battery Partner), and EV charging programs.

Commercially, SRP operates under a regulated, subscription-style revenue model where rates are set through a public pricing process to cover costs rather than generate shareholder returns. Customer revenue streams include flat-rate residential tariffs, time-of-use price plans, the M-Power prepaid program, Budget Billing averaging, and income-qualified discounts, alongside transmission and distribution services for commercial and industrial customers. Go-to-market leverages owned T&D infrastructure within its exclusive franchise territory, complemented by digital self-service through My Account and three dedicated mobile apps (SRP Power, SRP M-Power, SRP Water), 24/7 phone support, and over 900 retail payment locations across the Phoenix Valley. Commercial customer development is increasingly targeted at high-growth data center load (representing roughly two-thirds of large-business demand growth), with economic development outreach as the primary commercial acquisition channel.

Name

Salt River Project

Legal name

Salt River Project Agricultural Improvement and Power District and Salt River Valley Water Users' Association

Website

https://srpnet.com

Company type

Private

Founded year

1903

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Salt River Project is a not-for-profit, publicly owned electric and water utility serving approximately 1.2 million residential, commercial, industrial, and agricultural customers across central Arizona through owned T&D infrastructure, regulated rate-setting, and a diversified generation portfolio spanning natural gas, nuclear, solar, and battery storage.

Ownership category

akta.pro rank

Product category

Electric and Water Utility Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Water Supply and Irrigation Systems (22131), Water, Sewage and Other Systems (2213), Utilities (221)

SIC

Water Supply (4941)

akta.pro primary industry

Water Supply & Wastewater Utilities Administration (BPAIACAG)

akta.pro secondary industries

Treated Water Storage & Pressure Management (Reservoirs, Tanks, Booster Stations) (EUANAAAD), Reservoir/Impoundment Hydroelectric Generation (EUACAEAB), Water & Wastewater Infrastructure Asset Management (EUAEAMAH), Design & Engineering for Renewal/Expansion (Pipelines, Pump Stations, Treatment Plants) (EUANALAD)

Keywords

• Electric utility services
• Water utility services
• Public power utility
• Renewable energy generation
• Irrigation water delivery

Headquarters

HQ city

Tempe

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Sales: SRP generates revenue primarily through the sale of electricity to approximately 1.2 million residential, commercial, industrial, and agricultural customers in central Arizona. As a not-for-profit public power utility, rates are set to cover costs while maintaining affordability.
2. Water Service: SRP supplies approximately 260 billion gallons of water annually to the Phoenix metropolitan area, providing irrigation and water management services.
3. Transmission and Distribution Services: Revenue from electricity transmission and distribution services for customers within its service territory.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Salt River Project (SRP) is a community-based, not-for-profit public power utility that delivers electricity and water services to approximately 1.2 million residential, commercial, industrial, and agricultural customers across central Arizona. The company operates a diversified generation portfolio including solar, battery storage, nuclear, natural gas, and wind, and provides roughly 260 billion gallons of water annually to the Phoenix metropolitan area through its historical water management role.

Product overview

Salt River Project operates as a community-based, not-for-profit public utility serving central Arizona with electricity and water services. The company offers a comprehensive suite of customer-facing digital products including SRP My Account online portal and three mobile applications (SRP Power App, SRP M-Power App, and SRP Water App). Residential pricing options include the Basic Price Plan, SRP M-Power prepaid program, and time-of-day demand management plans. Billing services encompass SRP Budget Billing for predictable monthly payments, SRP SurePay automatic payments, SRP Custom Due Date for flexible payment scheduling, and SRP eBill paperless billing. Energy programs include solar customer generation options, the SRP Battery Partner integration program, and the SRP Renewable Energy Credit Purchase Program. Customer assistance offerings comprise the SRP Income-Qualified Discount, Medical Preparedness Program, and Safety Net notifications. SRP also operates demand response through its Bring Your Own Thermostat program and provides outage/billing alerts via SRP eNotes.

Differentiator

Problem solved

Functional benefit

Brands

• SRP Power App: Mobile app for residential electric SRP account management
• SRP M-Power App
• SRP Water App
• SRP M-Power
• SRP Budget Billing
• SRP Custom Due Date
• SRP Income-Qualified Discount

Products and services

• Residential Electricity Service
• Business Electricity Service
• Water Service and Irrigation Delivery
• SRP M-Power Prepaid Electricity Program
• SRP Bring Your Own Thermostat Program (BYOT)
• SRP Renewable Energy Credit Purchase Program
• SRP Income-Qualified Discount Program
• SRP Medical Preparedness Program

Quantifiable outcome

• Rates 37% lower than peer utilities in the Southwest
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered core, flagship and minor.

• Aypa PowercoreStrategic or Co-development Partner · 18 June 2026Partnership for battery energy storage systems including the 250 MW/1,000 MWh Pediment BESS at Elliot Road Technology Corridor in Mesa, Arizona (online June 2026). Second 250 MW/2,000 MWh facility expected December 2028, bringing combined capacity to 500 MW and 3,000 MWh. Aypa acquired project from Eolian in 2024.
• Energy DomeflagshipStrategic or Co-development Partner · 15 June 2026Agreement to deploy 19 MW, 10-hour CO2-based battery energy storage system co-located at SRP's Coronado Generating Station in St. Johns, Arizona, expected online 2029. Energy Dome owns and operates under 20-year tolling agreement while SRP dispatches output. Google providing cost-sharing through strategic partnership.
• EDP Renewables North America (Flatland Storage)coreStrategic or Co-development Partner · 9 June 2026Completion of Flatland Energy Storage project, an 800 MWh battery energy storage system in Coolidge, Arizona - the largest BESS in EDP Group's global portfolio. Project costs over $20 million and co-located with Brittlebrush Solar Park.
• NextEra Energy ResourcescoreStrategic or Co-development Partner · 30 April 2026Power purchase agreement to develop 3 GW of new solar and 1 GW of battery energy storage across multiple facilities in Arizona by 2034. The partnership extends an existing relationship where NextEra already operates over 1,000 MW across five projects for SRP customers. Construction planned at 500 MW annually starting in 2029.
• Arizona Public Service, Tucson Electric PowerminorStrategic or Co-development Partner · 9 April 2026Joint utility grant funding program providing $1 million combined pledge to support economic development, infrastructure, and workforce development in northeastern Arizona communities near closing or closed coal plants.
• J.P. MorganminorOthers · 2 April 2026Partnership to modernize SRP's payment processing systems, replacing previous lockbox provider. Implementation reduced mail float time by three days, achieved 75% time savings on check printing/mailing, and eliminated approximately $5,000 in yearly equipment maintenance costs.
• InvenergycoreStrategic or Co-development Partner · 30 March 2026First-ever partnership with SRP to develop the SunDog Energy Center in Pinal County, Arizona: 200 MW solar and 200 MW/4-hour battery storage. Project to power up to 45,000 homes and generate over $209 million in local economic benefits while creating 200-400 construction jobs.
• ESS Tech Inc. (Project New Horizon)flagshipStrategic or Co-development Partner · 3 March 2026Collaboration on Project New Horizon - a 5 MW/50 MWh long-duration energy storage pilot using ESS iron flow technology at SRP's Copper Crossing Energy and Research Center in Florence, Arizona. Manufacturing expected 2026, delivery December 2027. Google participating through cost-sharing arrangement.
• Enlight Renewable Energy (Clēnera Holdings)coreStrategic or Co-development Partner · 2 February 202620-year Energy Service Agreements with Salt River Project for the CO Bar Complex - 1.2 GW solar and 4 GWh storage across five stages in Arizona. Investment of $2.86-3.01 billion with first-year revenue projections of $250-260 million. Initial commercial operation expected 2027-2028.
• Arizona State UniversityminorStrategic or Co-development Partner · 20 January 2026Partnership using NASA-developed aircraft technology to measure snowpack in mountain basins upstream of Valley reservoirs. Initiative aims to predict water runoff weeks in advance to manage Arizona's increasingly strained water resources.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Tennessee Valley Authority (TVA): Federal public power corporation serving ~10 million people across the Tennessee Valley. Comparable as a large, publicly owned vertically integrated utility with diversified generation (nuclear, coal, hydro, renewables) undergoing a major energy transition.

Direct peers

• Austin Energy: Community-owned electric utility serving Austin, TX. Comparable as a publicly owned municipal utility with aggressive renewable targets, customer-facing digital tools, and regulated rate-setting.
• Central Arizona Project: State-level water delivery system that brings Colorado River water into central and southern Arizona. Closest direct peer in SRP's water business and a key counterpart in Arizona's water-resource ecosystem.
• Arizona Public Service (APS): Investor-owned electric utility serving ~1.3 million customers across Arizona. Directly comparable in scale, geography, and service mix (electric generation, T&D, retail customer programs), and a recent joint grant partner on northeastern Arizona coal-community transition.
• Nebraska Public Power District: Public power and wholesale utility serving Nebraska. Comparable as a publicly owned, generation-and-T&D utility with a diversified portfolio (nuclear, coal, renewables) and customer-ownership governance model.
• Sacramento Municipal Utility District (SMUD): Community-owned electric utility serving the Sacramento region. Comparable as a publicly owned, vertically integrated power utility with aggressive decarbonization and renewable procurement programs.
• Los Angeles Department of Water and Power (LADWP): The nation's largest municipal utility, providing both electricity and water to ~1.4 million customers. Closest peer in terms of combined electric + water utility model, public-ownership structure, scale, and municipal governance.
• Seattle City Light: Publicly owned electric utility serving Seattle. Comparable as a not-for-profit municipal utility with significant hydro and renewables, regulated rates, and a customer-satisfaction-driven operating model.
• Imperial Irrigation District (IID): California's largest irrigation district and a regulated electric utility, combining water delivery and power services for ~150,000 customers. Directly comparable as a combined water-and-electric public utility with agricultural irrigation as a core customer segment.
• Tucson Electric Power (TEP): Investor-owned electric utility serving southern Arizona. Overlapping generation portfolio and regulated rate-base utility model, and a recent co-funder with SRP of coal-community economic-development grants.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/srpconnect
• YouTubeyoutube.com/SRPconnect
• Facebookfacebook.com/srpconnect
• LinkedInlinkedin.com/company/salt-river-project
• Instagraminstagram.com/srpconnect

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Salt River Project