CPS ENERGY RECEIVES RATE REQUEST APPROVAL BY SAN ANTONIO CITY COUNCIL
Rate increase goes into effect March 1, 2022
January 13, 2022 (SAN ANTONIO)- Today, the San Antonio City Council approved CPS Energy’s request to implement a 3.85% base rate increase and a regulatory asset that will allow CPS Energy to recover paid and legitimate Winter Storm Uri fuel costs. The City Council vote follows the unanimous approval by the CPS Energy Board of Trustees on January 10, 2022. The rate increase and regulatory asset will go into effect on March 1, 2022.
The 3.85% rate increase will support enhancements for the following:
- Infrastructure Resiliency – power generation and distribution projects to support operations during extreme weather
- Technology – design future technology platform to replace current end-of-life platform
- Growth – keep up with the community’s continued strong growth
- People – attract and retain qualified employees needed to serve customers
“We thank the San Antonio City Council for their actions today. We understand this was a difficult vote and the timing was not ideal, but we appreciate the necessary investment into our community owned asset,” said Rudy D. Garza, Interim President & CEO of CPS Energy. “Through this rate increase, we will do the work needed and invest in our infrastructure, our technology, and our people to ensure the delivery of essential services to our community.”
For the average residential customer, the rate increase will add $3.84 to the monthly bill. Recovery of the paid and legitimate fuel costs incurred during Winter Storm Uri will add $1.26 per month in the fuel adjustment portion of a customer’s bill. The regulatory asset will spread the Winter Storm Uri costs to be recovered over 25 years. Combined, the total bill impact will be $5.10 for the average electric and natural gas residential customer.
For customers who meet the qualifications of the CPS Energy Affordability Discount Program (ADP), the base rate increase will be offset by a $3.84 discount being added to the program, bringing the total ADP monthly discount to $16.14 from its current $12.30. The ADP discount increase also will go into effect March 1, 2022. Additionally, eligibility for the program is increasing by about 14,000 customers.
To qualify for this discount, a customer’s income must be at or below 125% of the federal poverty guidelines and they must meet one of the following requirements:
- Be 60 years old or older.
- Have a disability.
- Use life-sustaining medical equipment.
- Have pre-school aged children or school children age 18 and under.
- Have extenuating circumstances as determined by CPS Energy or the City of San Antonio.
Eligible customers who do not already receive the ADP discount, can apply online here or call (210) 353-6777 to apply. If a customer does not qualify for the ADP discount but needs assistance, CPS Energy Advisors can connect them to one of our many assistance programs. Please call (210) 353-2222 for help.
For more information about the rate increase, visit the CPS Energy website, which also offers a new bill estimator for residential and small commercial customers to see the potential impact to their bill based on their normal energy usage.
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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 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.
