February 11, 2022 (SAN ANTONIO) – The CPS Energy Board of Trustees today announced a request for proposal (RFP) for an organizational review. The utility’s Board and leadership are keeping a commitment made by Interim CEO and President Rudy Garza to facilitate the third-party review following San Antonio City Council’s approval of a base rate increase and creation of a regulatory asset exactly a month ago.
“We are delivering on our commitment to the City of San Antonio to issue an RFP for a third-party assessment of CPS Energy within thirty days of the rate request approval. The timing is perfect – we have a new leader, Board member, and amazing employees who also want the opportunity to provide feedback. So much has happened these past two years with the pandemic and Winter Storm Uri and this is an effective way to take the pulse of the organization, which is a crucial step toward properly addressing risks and keeping them low and under control. When done well, it will provide a roadmap allowing us to level-set and continue to push the envelope to improve how we make investments, collaborate, and serve our customers,” said CPS Energy Board Vice Chair Janie Gonzalez.
The CPS Energy third-party review may include any of the following analyses: a review of financial health and operational excellence; customer engagement procedures for products and services, including payment assistance programs and community outreach; organizational culture and workforce development; and economic impact.
The call for a third-party review has been met openly by Mr. Garza. He confirmed the public utility’s commitment to fast track the RFP procurement process within 30 days by issuing the RFP on February 11, 2022.
Currently CPS Energy has both internal and external auditors. Financial audits have been conducted by Baker Tilly Virchow Krause, LLP; Garza, Preis & Co., L.L.C.; and Robert J. Williams, CPA. The new auditing firm for FY2022 is KPMG.
Additionally, CPS Energy has an internal audit function that assists in evaluating the adequacy and effectiveness of departmental practices. CPS Energy’s independent Board is responsible for reviewing and accepting both the audited financial statements and Management’s Discussion and Analysis (MD&A).
RFP respondents must meet all applicable guidelines. Entities interested in applying can visit cpsenergy.diversitycompliance.com for RFP details and submission criteria. All responses must be submitted by March 10, 2022 at 3:00 p.m.
About CPS Energy
Established in 1860, CPS Energy is the nation’s largest public power, natural gas, and electric company, providing safe, reliable, and competitively-priced service to more than 884,811 electric and 366,709 natural gas customers in San Antonio and portions of seven adjoining counties. Our customers’ combined energy bills rank among the lowest of the nation’s 20 largest cities – while generating $8 billion in revenue for the City of San Antonio for more than seven decades. As a trusted and strong community partner, we continuously focus on job creation, economic development, and educational investment. True to our People First philosophy, we are powered by our skilled workforce, whose commitment to the community is demonstrated through our employees’ volunteerism in giving back to our city and programs aimed at bringing value to our customers. CPS Energy is among the top public power wind energy buyers in the nation and number one in Texas for solar generation.