SAN ANTONIO — Higher electricity bills are one step closer to becoming reality after the CPS Energy Board of Trustees unanimously approved a rate hike Monday afternoon.
Coupled with a fuel charge increase of .80%, created to recuperate costs from last year's historic winter storm, the proposed 3.85% increase would amount to about an extra $5.10 for the average customer. The changes could go into effect as soon as March, but San Antonio City Council still needs to green-light the measure when it meets on Thursday.
Previous proposals were higher, and would have tacked on an extra $10 to $15 to community members' bills. In previous messages to customers, utility officials said the rate increase was necessary to "help improve our infrastructure and reliability, strengthen our technology, keep up with the community's growth, and retain and hire qualified employees."
The upped fuel charge would last for 25 years, while CPS Energy is expected to request another base-rate hike in about two years' time.
2014 was the last time a rate hike went into effect for San Antonio residents.