CPS ENERGY RATE INCREASE GOES INTO EFFECT FEBRUARY 1, 2024
The utility expands the ADP program for low-income customers.
January 24, 2024 (SAN ANTONIO) – CPS Energy customers can expect an additional 4.25% increase when February 1, 2024, occurs during the billing cycle. This will result in an average $4.45 monthly increase for a residential customer’s electric and gas bill.
The rate increase will equate to an $85 million investment in the following areas:
Infrastructure Resiliency – Aging infrastructure upgrades to limit the likelihood and impact of outages.
Growth – San Antonio and the surrounding area is expected to increase its population by 30% by 2030. With growth comes additional load demand and investment to sustain system reliability.
Technology & Security – CPS Energy’s core technology systems are 20 years old and must be replaced. Similarly, there is a need to continue to invest in and maintain physical and cyber security systems.
People – Over the next five years, 30% of CPS Energy team members will be eligible for retirement. Thirty percent of the remaining workforce has less than two years in their role, and CPS Energy will need to invest in workforce planning.
The rate increase will appear in the Service Availability Charge and Energy Charge sections of a customer’s monthly utility bill. For more information on reading and understanding the monthly statement, customers can visit the Understanding Your Energy Bill page on the CPS Energy website.
As part of the approved rate increase, CPS Energy will raise the monthly bill discount available through the Affordability Discount Program (ADP) from $16.14 to $18.36. This existing ADP benefits and assists low-income customers in paying for electric and gas services.
The utility will also expand the number of ADP enrollees. Currently, the ADP program has 65,000 residential customers and this rate increase includes plans to grow enrollment by at least 15,000, resulting in over 80,000 customers.
To help customers achieve more energy savings and lower utility bills, CPS Energy offers energy efficiency resources, including My Energy Portal, a service available to customers to track and manage energy usage.
CPS Energy launched a bill estimator to show customers the potential bill impact based on normal energy usage for residential and small commercial customers. The utility also offers budget payment options including special programs for senior citizens and the Residential Energy Assistance Program (REAP). To learn more about payment options and other assistance, customers can visit cpsenergy.com/assistance. Energy advisors are also available at (210) 353-2222 to assist customers with any questions concerning their bills.
There are many in-person opportunities for customers to connect with CPS Energy to learn about customer assistance. For those interested in assisting our upcoming community resource fairs, a list of these events can be found here.
For more information about the rate increase, visit the CPS Energy website.
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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.
