San Antonio Chamber Of Commerce: CPS Energy Board Of Trustees Approves 3.85% Rate Increase And .8% Regulatory Asset

Press release from the San Antonio Chamber of Commerce - News:

2022-01-12

On January 10, 2022, the CPS Energy Board of Trustees convened to vote on CPS Energy’s request for a 3.85% rate increase and a .8% regulatory asset adjustment. The .8% regulatory asset will recover $418 million in fuel costs incurred during the 2021 Winter Storm Uri. The 3.85% proposed rate increase is the first in eight years and will help address the immediate financial needs to stabilize the utility and provide investments for critical infrastructure.  

Richard Perez, San Antonio Chamber of Commerce President and CEO, testified in support of the proposed 3.85% base rate increase and the .8% regulatory asset before the CPS Energy Board of Trustees. The San Antonio Chamber supports the rate increase as a mechanism to maintain the utility’s financial stability, enhance resiliency, and maximize reliability. 

On Thursday January 13, 2022, San Antonio City Council will vote on the CPS Energy proposed rate increase. If the City Council votes to approve the rate increase, it will go into effect on March 1, 2022. 

The meeting will be aired live on TVSA and is available for streaming at: https://www.sanantonio.gov/TVSA.  

Individuals can register for public comment on the proposed rate increase. Please find more information here: www.saspeakup.com.  

For more information, please contact Cacie Madrid, VP of Public Policy at cmadrid@sachamber.org or by phone at (210) 229-2161.  

This press release was produced by the San Antonio Chamber of Commerce - News. The views expressed here are the author’s own.