CPS Energy rate hike starts in February after San Antonio City Council approves

SAN ANTONIO (KTSA News) — We are still a few weeks away from the New Year, but already you know your financial picture is changing.

Starting February 1, 2023, you can expect to pay more for electric and gas after San Antonio City Council voted to approve a proposed rate hike of 4.25%.

The writing may have been on the wall after the CPS Board of Trustees voted unanimously (5-0) to approve the rate hike on Monday.

KSAT-12 reports City Council voted 8-3 in favor of the proposal, with Councilman Jalen McKee-Rodriguez (D2), Councilwoman Teri Castillo (D5), and Councilman Marc Whyte (D10) all voting against the increase.

CPS Energy says your average utility bill will go up by about $4.45 per month.

And the rate increases may not be over.

Already planned is yet another increase in 2026, which could be as high as 5.5%.

You can learn more about how the latest rate increase will work by clicking here.

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