San Antonio May Send Future Windfalls To CPS Energy To Offset Rate Hikes

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San Antonio City Council may move ahead with a plan to return money to CPS Energy when the utility's payments to the city surpass expectations. The city owns CPS and gets 14% of the utility's revenues instead of taxes. That amount may top $420 million in fiscal 2024. For the past two years, factors such as hot weather and high fuel prices have resulted in revenue windfalls that the city is trying to figure out to do with. Returning part of the money to CPS may help reduce future rate hikes.


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