CPS Energy is updating its long-term plans for power generation in response to a rapid increase in population. That might mean a rate increase in 2026, but officials at the city-owned utility aren\u2019t ready to ask for one yet.<\/p>\n
Utility officials had initially planned to ask for rate increases every two years during this decade and last got a 4.25% rate increase in 2023<\/a>, but this spring CPS Energy decided that it would not pursue one in 2025<\/a>.<\/p>\n The electricity provider plans to acquire 5,703 megawatts of production by 2030 as it retires old coal and natural gas power plants and copes with population and business growth in San Antonio.<\/p>\n Between 2020 and 2024, the San Antonio-New Braunfels metropolitan area added almost 200,000 residents, according to data from the U.S. Census Bureau and the Federal Reserve<\/a>.<\/p>\n There are also businesses relocating to the region, Elaina Ball, CPS\u2019s chief strategy officer,\u00a0told San Antonio\u2019s City Council Wednesday. CPS has added a production capacity of 4,507 megawatts since 2023, more than tripling its goal. That includes high-profile acquisitions like purchasing more solar power, acquiring four new natural gas power plants<\/a> and bringing in additional nuclear power generation.<\/p>\n But Ball said customer demand has been above the utility\u2019s 2022 projections, necessitating updates to its generation plan.<\/p>\n CPS has been analyzing new data and plans <\/strong>to bring recommendations to its board and council members this year.<\/p>\n \u201cWe have openly discussed the fact that we are in a period of high investment to serve our community with reliable and affordable power for the long term as our population continues to grow,\u201d said Dana Sotoodeh, a CPS public relations manager, in a statement. \u201cWhen appropriate, we will continue to have discussions with our owner, the City of San Antonio, our Board of Trustees, and our community about the need for additional rate support.\u201d<\/p>\n Sotoodeh emphasized that those discussions would include community outreach.<\/p>\n \u201cCPS Energy remains committed to engaging with our community and the City Council as part of its efforts for any future rate request,\u201d she said.<\/p>\n At a meeting Wednesday, City Council members told the city-owned utility that any cost increases for residents would need to come with detailed explanations.<\/p>\n