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SAN ANTONIO (January 13, 2022) — Today, City Council voted to approve CPS Energy's request for a 3.85% rate increase and to authorize CPS Energy to establish a Regulatory Asset for its 2021 Winter Weather fuel costs. Following the vote, Councilman Pelaez issued this statement:
"After eight years in which a rate request was neither requested nor approved, more than a year of suspended disconnections, and the tremendous impact of Winter Storm Uri, it is evident that we cannot continue to kick this can down the road. This decision to approve was difficult, but I believe necessary.
In today's tough economic climate, nobody wants to see an increase in their bills, but the revenue raised by this modest increase is essential to weatherize our infrastructure to keep our community resilient in the face of extreme weather conditions, upgrade our aging utility infrastructure, prepare for growth, and address significant utility staffing challenges.
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We've heard both from City and CPS Energy leadership that there would likely be severe consequences if we did not approve this rate request. We risk a high likelihood of a credit rating downgrading of both our municipally-owned utility and the City of San Antonio–which would impact our ability to finance essential improvements in our community.
I understand many folks have lost trust in CPS Energy. We will continue to work with our neighbors and CPS leadership to restore trust and ensure accountability. We will continue to review their annual audits, ask tough questions, and have difficult conversations--like the one today.
We recognize the impact of an estimated five additional dollars on the average rate payer can pose a challenge for the most vulnerable in our community, but CPS Energy and the City are adamant in our commitment to continue providing utility assistance for those in need. As a reminder, folks in need of assistance can call 210-335-2222 or go to https://cpsenergy.com/utilityassistance. You can also call the City's Department of Human Services at 210-207-7830. Finally, the District 8 Office is always available to help neighbors. You can reach us by calling 210-207-0943 or emailing email@example.com."
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