Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
CPS Energy outlines record FY27 capital and O&M plans and flags placeholder for possible rate increase
Summary
CPS Energy briefed the San Antonio City Council on its proposed FY27 budget — a $1.7 billion capital plan and $1.1 billion O&M — saying the plan includes a placeholder for a potential rate increase to cover a planning shortfall and stressing reliance on wholesale revenue and financing tools to limit customer impacts.
Corey, a CPS Energy presenter, told the San Antonio City Council on March 4 that the utility’s proposed fiscal 2027 budget includes $1.7 billion in capital spending and $1.1 billion in operating-and-maintenance costs. The presentation framed the request around three financial guardrails—debt-to-capitalization, adjusted debt-service coverage and liquidity days—that CPS uses to preserve credit strength and limit borrowing costs.
“We set these financial boundaries … so that we can translate financial health into lower borrowing costs,” Corey said, pointing to targets that keep debt-to-capitalization below 70% and maintain roughly 150 days of cash on hand (200 days including available credit).
The capital plan devotes roughly $700 million to reliability work—about $400 million of that for transmission—and another roughly…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
