Average CPS Energy bills soar by 50%, coming as consumers grapple with inflation

Record heat and higher natural gas prices drove the average price of CPS Energy bills in June 50% higher than a year ago, putting strain on already cash-strapped consumers, the Express-News reports.

On average, energy bills in the Alamo City were $78 higher than in June 2021. According to CPS Energy, half of that figure was the result of soaring energy demand as residents tried to stave off record head.

However, CPS Energy officials said the ongoing war in Ukraine also drove up costs, according to the Express-News.

The spot price for natural gas — the primary fuel source for CPS’ power plants — was about 136% higher per unit than a year ago, according to the Energy Information Administration. That forced CPS to go $199 million over budget in fuel costs between February and June, the daily reports.

The embargo on Russian gas exports has resulted in the U.S. producers sending more of their output to Europe, driving up prices, according to media reports.

The rise in local energy bills comes as San Antonio residents face higher rents, rising food prices and 40-year high inflation.

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