SRP's profit rises despite drop in electricity use

by Ryan Randazzo - Jul. 1, 2011 12:00 AM The Arizona Republic Salt River Project's annual profit grew 26 percent after the utility raised its rates 4.9 percent in May 2010 at the beginning of its 2011 fiscal year. Officials said that electricity sales were actually less than anticipated for the year but that profit increased because several maintenance projects were delayed.