Statements from CPS Energy and Mayor Ron Nirenberg about Energy Transfer’s First Quarter Earnings Results

Paula Gold-Williams President & CEO of CPS Energy

“Energy Transfer’s egregious natural gas price gouging during the disastrous Winter Storm Uri and their resulting report of record-breaking $2.4 billion quarterly profits are now on full display for the world to see.  Energy Transfer made a choice to prioritize profits over people.  That company took advantage of many citizens in Texas by selling natural gas at historically unprecedented levels and taking in sky high profits. Our CPS Energy team continues to fight to protect San Antonio customers from the exorbitant, excessive, and unconscionable prices that Energy Transfer, and certain other natural gas suppliers, charged during a state and federally declared disaster.”

San Antonio Mayor Ron Nirenberg

“CPS Energy is in a fight to prevent the most massive wealth transfer in Texas history. If you look at the latest earnings results from certain gas suppliers, you will understand the potential scale of what is at stake. It is abundantly clear that some energy market participants took full advantage of the declared disaster or did not take the appropriate steps to stop the exorbitant and unconscionable prices working their way through the system. We will not tolerate exploiting everyday consumers to rake in “ill-gotten” profits.”

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