CPS Energy Will Carefully Align its Flexible Path to the CAAP While Balancing the Tried and True with the New for San Antonio's Energy Future

SAN ANTONIO, Oct. 17, 2019 /PRNewswire/ -- First and foremost, we want to thank the Mayor and San Antonio City Council for their passion, engagement, and consistent leadership in our community. Our Board of Trustees has endorsed the CAAP that was presented to them in August of 2019. In turn, the Board has instructed me, as CPS Energy's President & CEO, to work towards the new 2050 net zero emission goal, through the careful implementation of our Flexible Path strategy. Through this strategy, we will balance real implications to our community's energy security, safety, reliability, resilience, environmental sustainability and customer affordability.

We understand the importance and complexity of the broad CAAP framework that is being voted on today. Going forward, we will work with the Council, our Board, our Citizens Advisory Committee and our entire metropolitan community as we prepare extensive analyses that must be carefully assessed before being implemented. This is the best way to achieve a thoughtful and fair approach for all of our customers and our community.

Respectfully, we do not recommend isolated and premature plant closures. However, we continue to believe there must be a comprehensive plan with thorough assessments and community-wide discussions. For example, accelerating the closure of plants could leave the community in the position of paying twice for energy capacity. Paying for assets already owned and paying for new solutions simultaneously could make San Antonio one of the most expensive energy markets in Texas, and perhaps, the nation. Working together from now through 2050 will give all of us the best opportunity to reach our evolving environmental goals, while not penalizing our customers.

We are global energy utility experts who have the obligation and fiduciary responsibility to serve this wonderful community, while consistently keeping the lights on. Importantly, we want to remind everyone that we have already made many thoughtful decisions that are in alignment with the new 2050 net zero emissions goals.

Specifically, we:

• closed the Deely units more than 10 years early and replaced them with a less emitting gas plant;
• have one of the biggest and most effective energy efficiency and conservation programs in the nation, called STEP; and
• are national leaders in wind and solar.
  

Lastly, our currently proposed and carefully designed FlexPower Bundle and FlexSTEP Programs are potentially additional key steps toward a new and improving future. In the meantime, CPS Energy wants to thank you, our customers, for allowing us to successfully balance your tried and true assets with the new.

About CPS Energy

Established in 1860, CPS Energy is the nation's largest public power, natural gas and electric company, providing safe, reliable, and competitively-priced service to 840,750 electric and 352,585 natural gas customers in San Antonio and portions of seven adjoining counties. Our customers' combined energy bills rank among the lowest of the nation's 20 largest cities – while generating $7 billion in revenue for the City of San Antonio for more than seven decades. As a trusted and strong Community partner, we continuously focus on job creation, economic development and educational investment. True to our People First philosophy, we are powered by our skilled workforce, whose commitment to the community is demonstrated through our employees' volunteerism in giving back to our city and programs aimed at bringing value to our customers. CPS Energy is among the top public power wind energy buyers in the nation and number one in Texas for solar generation.

SOURCE CPS Energy

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http://www.cpsenergy.com