On December bills, CPS Energy customers will receive a credit from the City of San Antonio as part of recent action by City Council. High natural gas prices, combined with extremely hot weather this summer, have resulted in extraordinary customer bills and revenues to the City that exceed normal expectations. In recognition of the unusual one-time nature of these additional revenues coupled with the current high inflationary environment consumers are experiencing, City Council approved returning $42.5 million back to CPS Energy customers and allocating $7.5 million to help low-income customers, as part of the adoption of the City’s Fiscal Year 2023 budget. City Council’s action also recognizes the City’s current strong financial position and that the level of additional revenue generated exceeds normal variances.
All active CPS Energy electric customers will receive direct credits based on their July 2022 electric usage. In total, customers will receive $42.5 million which will be fairly credited to all CPS Energy electric customers in the same way it was collected with the average residential customer receiving a $29 credit.