The short explanation.

The longer explanation.

Above are videos we made comparing SRP's four primary rate plans:
#1) Basic (kWh)
#2) EZ-3 (kWh w/peak hours)
#3) TOU (kWh w/peak hours)
#4)
E-27P
(kWh
+ kW
w/peak hours)
Below are graphics detailing the first three plans: #1) Basic (flat kWh charges w/ zero peak hours), #2) EZ-3 (costlier kWh w/some peak hours) and #3) TOU (cheaper kWh w/more peak hours). You're currently on of these three plans. As you can see, these three plans are fundamentally the same in that they only bill for usage over time (kWh) and do so at an average of 14, 16 and 16 cents (+/- 2 cents/kWh), respectively
(including taxes and charges). Built into that (kWh) charge, however, is the equivalent of a roughly 8-10 cent (+/- 2 cents/kWh), respectively, assumption for (unmanaged) demand (kW). Wouldn't you rather enjoy your kWh at 6 cents and then only pay for the kW you actually use? IF
managed, that kW can be kept around the equivalent of 2 cents/kWh. When added to the aforementioned 6 cents/kWh (for actual kWh) you instead pay 8 cents/kWh
total. If paying 8 cents/kWh instead of 14-16 cents/kWh sounds desirable then scroll past these expensive plans (below) to review SRP's fourth plan.
Below is SRP's fourth plan, the one you want to be on if maximizing savings is your goal. Or, as SRP advertises it, "Our biggest change to save."
#4) E-27P
On this plan, your kWh rate drops to less than half of what you're paying now and you only get charged for the demand (kW) you use between 2-8 p.m. during summer and 5-9 a.m & 5-9 p.m. during winter instead of SRP assuming your demand (kW) is consistently as high as it could possibly be as they do on the plan you're on now, be it #1) Basic, #2) EZ-3 or #3) TOU.
FYI - If you take this plan but don't pair it with a demand manager, your bill will, at best, stay about the same as it is now, and you will, at worst, incur a higher bill resulting from atypically high unmanaged demand (SRP bills monthly demand on that month's highest average demand in a 30 minute window during peak demand hours).
This is where the Better Box comes in. It intelligently manages your demand (kW) to remain reliably low so you can fully take advantage of SRP's
lowest
rates on electricity (E-27P also boasts the lowest kWh rates in the nation!) by adding a low kW charge to a low kWh charge (lowest in SRP) and ultimately pay exponentially less.
Here's what SRP has to say about this plan:
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