CPS Energy surplus could be heading back to customers
SAN ANTONIO (KTSA News) — You could be getting a break on an upcoming CPS Energy bill.
The utility has been generating a huge amount of revenue for the city’s general fund due to the higher than expected energy bills you’ve been receiving.
But there’s a proposal floating around San Antonio City Hall that could result in a refund.
The City of San Antonio owns CPS Energy and a percentage of the utility’s revenue is placed in the city’s annual general fund.
But the intense heat has caused sky high power bills, generating more revenue from CPS then the city was anticipating.
To the tune of 75 million dollars.
In the latest city budget proposal, City Manager Erik Walsh and other city staff presented the idea of giving some of that money back to CPS customers.
The recommendation is to take 25 million of the surplus and divide it up among other projects. The reaming 50 million would be returned to CPS customers.
5 million would got towards to the an assistance program for low income customers and 45 million dollars would be divided up between CPS customers.
But don’t wait for a check from the utility. The refund would come in the form of a credit for utility bills in October. The credit is to be based on customer’s energy usage in July, which for the average CPS customer is roughly $30.
In order for the credit to show up in time for October’s power bills, city council will have to vote on the proposal in September.
Initial response from council members has been mixed. Some suggests using the surplus to fund other projects involving more infrastructure improvements of extreme weather preparations.
Council takes up the surplus at an August 16 work session.