CPS Energy Board Approves Rate Hike, Awaits San Antonio City Council Decision

Takeaways:

• CPS Energy board of trustees approves a 4.25% rate increase to base rates.

• The rate increase would raise the average customer's monthly bill by $4.45.

• The rate increase still needs approval from the San Antonio City Council.

• If approved, the new rates will take effect on February 1, 2024.

• CPS Energy plans to use the additional revenue for technology upgrades, retirements, tree trimming, and converting a coal plant to natural gas.

References:

[1] CPS Energy board approves rate increase; council to vote Thursday. Link

[2] CPS Energy board of trustees approves 4.25% rate increase. Link

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