CPS Energy now has the needed approval to borrow up to $500 million if needed to deal with the costs of last month's winter storm. San Antonio City Council gave the utility the green light on Thursday to borrow the money through short-term financing. CPS is coping with more than a billion-dollars in charges for electric power and natural gas it bought during the freeze, when prices soared. The new line of credit is one part of a plan intended to keep the costs from being passed on to CPS customers.
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