San Antonio: District 10 Councilman Votes Against CPS Rate Increase

CONTACT: Landry Stafford

SAN ANTONIO (January 13, 2022) – Today City Council voted 8-3 in favor of the CPS Rate Increase and 9-2 in favor of recovering the fuel, financing, legal, and other allowable costs related to Winter Storm Uri. The following statement is in response to today's actions:

"Although CPS Energy has some of the lowest residential energy prices in Texas, our community is also made up of some of the most socio-economically challenged residents. We continue to hear the same argument that this increase will only amount to a few dollars, but I'd argue that any increase can negatively impact individuals and families on a strict budget or a fixed income.

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While I voted against the CPS Rate Increase, I supported establishing a regulatory asset to cover the fuel, financing, legal, and other allowable costs related to Winter Storm Uri. This allows for debt financing over an extended period to cover costs from the storm. This was a separate issue from the rate increase and necessary to lessen the overall impact on ratepayers.

I agree we need to make CPS Energy more resilient and better prepared for future challenges. However, more time is needed to fully digest the actual fiscal needs of CPS Energy. This rate increase came too soon and rushing to pass it without thoroughly explaining the financial impact to the community is ill-considered. I maintain the belief that this is the absolute worst time to ask ratepayers to pay more, especially given the trauma surrounding Winter Storm Uri, COVID, rising inflation, property taxes, and lack of community trust in CPS."

Filed Under: Government, City

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