San Antonio's CPS Energy Board Approves Rate Hike, City Council to Decide Next

Takeaways:

• The board of trustees for CPS Energy, a city-owned utility in San Antonio, has approved a 4.25% increase in its base rates, which would raise the average customer's monthly bill by an estimated $4.45.

• The proposed rate increase will next be debated by the San Antonio Council, and if approved, the new rates would take effect from February 1.

• CPS Energy officials argue that the increase is necessary to fund upgrades to outdated technology, accommodate growth, and convert a coal-burning power plant to cleaner natural gas.

• Critics argue that the increase is premature and will put financial pressure on low-income residents.

• This is the second rate increase sought by CPS Energy in two years, with a 3.85% increase approved in March 2022. Officials also anticipate asking for another 5.5% rate increase within the next two years.

References:

[1] Board of San Antonio-based CPS Energy OKs rate increase. City Council is next.. Link

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