CPS Energy interim CEO Rudy Garza speaks as City Council decides on whether to approve a rate hike by CPS Energy on Thursday, Jan. 13, 2022. A small group of protestors opposed to the hike appeared before the council session.San Antonio households saw their CPS Energy bills increase 25 percent in May from a year earlier — and that was before searing temperatures in June pushed usage even higher.
More than half of the increase in May — the most recent month for which data was available — was caused by customers using more electricity to power air conditioners amid recent record-breaking temperatures. But other factors are also driving the jump.said “resulted in an unavoidable impact on customers’ bills.”
On top of that, CPS ratepayers are paying about $1 extra each month for the next 25 years to cover the cost of natural gas CPS bought at exorbitant prices during Winter Storm Uri.customers of utilities across the stateThe gas price increases are largely a result of Russia’s invasion of Ukraine early this year, an event that shocked global energy markets and pushed European nations to wean themselves off of Russian natural gas.
For its part, the city has received $97 million in payments from CPS through May, or $7 million more than expected. For the entire fiscal year, CPS now is budgeting to pay the city $443 million — $55 million more than expected. City staffers are updating projections related to CPS payments and “evaluating options for potential assistance for CPS Energy customers,” a city spokeswoman said Tuesday by e-mail.
Sky high property tax rates, record inflation at the gas pumps and grocery stores, and now record-breaking temperatures, but the City gets an extra $55 million to spend at their discretion?! Thanks for the EXTRA cpsenergy rate increase CWCabelloHavrda VoteThemOut