Board approves new headquarters decision

06/27/2016

News

SAN ANTONIO – JUNE 27, 2016 –Earlier today, the CPS Energy Board of Trustees made a recommendation to proceed with the selection of a new company headquarters. The final proposal was to purchase and renovate an existing building, previously owned and utilized by AT&T, located at McCullough Ave. and Avenue B in the core of downtown San Antonio.

“Much goes into selecting a new corporate headquarters. Today’s announcement to move forward with the McCullough property is the result of a lot of hard work and dedication from the CPS Energy team,” stated Ed Kelley, Chairman, CPS Energy Board of Trustees. “This decision is in keeping with the guiding principles of staying in the downtown area, spurring economic development, and most importantly, managing the costs in a way that will not drive an increase in customer rates. The team delivered on these principles and I am delighted with this effort.”

The existing CPS Energy campuses are at full capacity, without additional space to expand and adjust to changing business needs. The property selected meets the growing business needs and objectives of the nation’s largest municipally owned utility. Factors such as public transportation, economic development impact, environmental factors, and infrastructure adequacy were also important components of the site location.

The next steps involve proceeding with design and construction phase of the new headquarters building. The construction phase of the project will be performed through a request for proposals (RFP) for a general contractor for this project. The new headquarters is scheduled to be completed in 2019.

About CPS Energy

CPS Energy is the nation’s largest municipally owned natural gas and electric company, providing safe and affordable service to 786,000 electric and 339,000 natural gas customers in the Greater San Antonio area. With our AA+ credit rating, one of the best in the industry, we offer best in class reliability and some of the lowest rates among the top 10 largest U.S. cities. We recognize our role as a community partner and are continuously focused on job creation, economic development and educational investment. Powered by our people, our investment in the community is demonstrated through our employees’ generosity in giving $1.1 million to United Way. We are also committed to investing in clean energy. CPS Energy is number one in Texas for solar generation and among the top wind energy buyers in the nation for municipally owned utilities. For more information, visit newsroom.cpsenergy.com.

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