CPS Energy says it has exceeded near‑term capacity targets and outlines $1.5 billion capital budget

CPS Energy officials told the San Antonio Municipal Utilities Committee on Feb. 2025 that the utility has exceeded its short‑term capacity goals and presented a proposed $1.5 billion capital budget that funds transmission, generation conversions and an enterprise resource system.

The update matters because the utility is executing a multi‑year plan approved by its board in January 2023 to replace retiring generation and add renewable and dispatchable capacity amid rapid load growth in Texas and statewide supply uncertainty.

Corey, a CPS Energy presenter, told the committee the utility’s midterm generation plan has outperformed the targets it set in 2023. “We’ve surpassed that and achieved a little over 2,500 megawatts so far,” he said, comparing that to the roughly 830 megawatts the plan had targeted for online capacity through 2024. He also said a purchased portfolio of existing natural‑gas plants added capacity faster and at lower cost than building new units. “It cost about half as much as we had expected…