Friday, April 20, 2018

CPS Won't Seek a Rate Increase This Year, But Makes No Promises for 2019

Posted By on Fri, Apr 20, 2018 at 5:07 PM

CPS Chief Paula Gold-Williams said the utility won't ask to raise rates this year. - VIA CPS ENERGY'S WEBSITE
  • Via CPS Energy's website
  • CPS Chief Paula Gold-Williams said the utility won't ask to raise rates this year.
CPS Energy won't request a rate hike this year to cover the capital it needs to upgrade facilities and keep pace with San Antonio's rapid growth, officials with the municipal utility said.

Working on its next annual budget, CPS considered asking the city to approve a 4.3 percent rate increase to cover those rising costs. However, CEO Paula Gold-Williams said it was able to free up that money elsewhere.

"What changed my mind is that we have a group that continues to locate ways to save money and reduce costs," she said.

Among other things, CPS was able to reduce health care costs and cut truck rolls to read meters thanks to its smart grid rollout. It's also launched programs aimed at reducing user consumption.

Its last rate increase came in November 2013, when City Council voted to let the utility raise monthly gas and electric bills by 4.25 percent.

But Gold-Williams said the utility has not yet determined whether its cost-containment efforts will help it put off a rate increase for yet another year. That would need to be determined in its next budget process, which ends in January 2019.

"I'd love to find a way to make that happen," she added.

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