Did you know CPS Energy provides services to 907,526 electric + 373,998 natural gas customers in San Antonio and the surrounding counties? After a unanimous approval vote from its board of trustees, the energy company took it’s proposed rate increase before the San Antonio City Council for a vote. Here’s what we know about the vote + the proposal.
Breaking down the changes
San Antonio’s City Council voted 8-3 to approve the 4.25% rate increase, which will go into effect on February 1, 2024.What does that mean for me? The proposal would add an average $4.45 a month to a residential customer’s electric + gas bill.
The additional funding would generate an estimated $85 million in revenue per year to:
- Meet local power needs
- Create new + improve existing energy infrastructure
- Hire additional employees
- Replace it’s decades-old computer system
Do you agree with the rate increase? Let us know.