It’s no secret. Higher operational costs and supply chain issues are putting a strain on companies all around the nation. And yes – we’re feeling the pinch too. As CPS Energy’s Chief Financial Officer (CFO), I am sharing some information to help the community understand the impact on our electric and natural gas utility. In fact, I recently provided a 3rd Quarter Update to the CPS Energy Board of Trustees on November 29, 2022. I addressed questions about our financial situation, and we shared some tough facts about where we are with past-due accounts and what we’re doing to address them. Questions were also raised about how this impacts our credit ratings.
Please know CPS Energy is always working to minimize financial risks. While we didn’t create the challenges that the world has presented, including inflation, recession, and global conflict, our leadership team has a strong plan to meet them head on. For more, click on this video to view my brief update about the industry outlook for public power and what it means relative to CPS Energy.