The Board of Trustees and San Antonio City Council are expected to vote on the proposed rate increase of 4.25% in December.
November 9, 2023 (SAN ANTONIO) – CPS Energy began the process to request a 4.25% rate increase to the CPS Energy Board of Trustees. This increase of $85 million will support critical investments in infrastructure resiliency, technology, security, growth, and people. This is part of a multi-year strategy of incremental rate increases needed to maintain the utility for the community.
As part of the rate increase process, CPS Energy leadership presented to the San Antonio City Council yesterday. The Board of Trustees will vote on the proposed increase on December 4, 2023. If approved, CPS Energy will seek final approval from San Antonio’s City Council on December 7, 2023. If the Council approves the proposal, the rate increase would go into effect on February 1, 2024.
“Our last rate increase helped us address long-overdue improvements to serve our community more reliably,” said Rudy D. Garza, President & CEO of CPS Energy. “Our work isn’t finished. We are doing our part to make sure our systems remain reliable, our technology is upgraded and secure, and we’re staffed to prepare for the energy transition and significant growth facing this community.”
CPS Energy’s process includes open dialogue with our community. This year, the utility held several open meetings with the 2023 Rate Request Community Input Working Group. Feedback will be provided to the public and the Board of Trustees as part of the approval process. Other opportunities for community involvement include an upcoming virtual town hall on November 30, as well as community fairs across our community. A full list of events can be found here.
Members of the public interested in providing public comment at Board meetings can do so by calling 210-353-4662 or sending an email to [email protected].
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 930,114 electric and 381,379 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 $9 billion in revenue for the City of San Antonio for 80 years. As a trusted and strong community partner, we continuously focus on job creation, economic development, and educational investment. 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.