San Antonio City Council members are split on the best way to spend unexpected windfalls of CPS Energy money in future years.
As the owner of CPS Energy, the City of San Antonio gets 14% of its gross revenues as a payment in lieu of taxes -- one of its single, largest funding sources. In FY 2024 alone, the city expects to collect $421 million from the gas and electric utility.
to take only 11% or 12% of CPS revenues, meaning foregoing roughly $60 million or $90 million each year., she suggested that the utility could improve its resiliency, and a rate increase could be avoided for at least five years. The majority of those windfall funds, 80%, would go toward CPS Energy resiliency and reliability projects, and the other 20% would be put into the city’s Resiliency, Energy Efficiency, & Sustainability fund.
Some, like Mayor Ron Nirenberg, approved of the proposed policy as a way to prepare the city and the utility for future extreme weather.
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