CPS Energy STEP energy conservation plan cuts demand by 216 megawatts after two years and $143.3 million spent
CPS Energy’s $350 million energy efficiency program has cut regular energy demand by 216 megawatts, putting it more than halfway to its total savings goal in the first two years of the five-year plan. That’s enough to power more than 43,000 homes on a hot summer day and as many 216,000 homes when the Texas grid isn’t facing peak-use conditions during extreme weather.
Energy acquiring three gas-fired generating plants in $785 million deal with Talen Energy That’s important because energy experts agree the least expensive way to add a capacity cushion is by reducing overall demand. That’s increasingly important in Texas, which is facing unprecedented demand growth this decade. The city-owned utility’s current Sustainable Tomorrow Energy Plan — known as STEP — is an extension of an earlier $800-million program that began with the same goals in 2009.
Energy OKs spending $350 million to extend its STEP conservation program for 5 years STEP adds between $3.50 and $4 to customers’ monthly bills. Trustee John Steen calls those additions a tax. He also questioned if the money could have been better spent — or if not spent at all, could have saved customers from rate increases.
Energy customers can get up to $1,200 in bill pay aid under expansion of assistance program Corey Kuchinsky, CPS chief financial officer, said the utility’s payment plans have an 80% success rate. Steen also has raised concerns about the unpaid bills, which he worries will degrade the utility’s creditworthiness as deemed by rating agencies.
Talen Energy That CPS Energy Oks John Steen Elaina Ball Corey Kuchinsky Rudy Garza Ball Texas Laredo Corpus Christi Sustainable Tomorrow Energy Plan
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