CPS Energy CEO to step down in early 2022

SAN ANTONIO (KTSA News) — The top executive at City of San Antonio-owned CPS Energy announced Wednesday she will be leaving the utility early next year.

CPS Energy president and CEO Paula Gold-Williams informed the company’s board of trustees of her decision and said she will work with the board to ensure a smooth transition to her successor.

Gold-Williams has received significant criticism for CPS Energy’s handling of this past February’s winter freeze that saw many in the dark and cold for days.

The outages led to at least one death in the San Antonio area.

The utility is now battling serious financial woes in large part because of the freeze, including at least $450 million dollars in expenses from the cold blast that will be passed along to customers.  The CEO said the utility needs a rate increase of more than 10 percent to cover those expenses.

The San Antonio Report said board members were not alerted of Gold-Williams’ impeding departure ahead of Wednesday’s meeting.

The utility’s COO Fred Bonewell resigned from his role just a week ago because of ethics violations being made public.

Gold-Williams is the city’s highest-paid employee, earning a base salary of $485,850 and got a roughly $445,000 bonus in 2019.

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