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Eagle Ford: CPS Energy celebrates 70 years of service
SAN ANTONIO -- CPS Energy is marking its 70th anniversary of being a municipal utility, with leadership noting the service of its 3,600 employees as well as the contributions of its retirees to the greater San Antonio area.
President and CEO Doyle Beneby cited the daily contributions of the utility’s work force for CPS Energy’s most recent accomplishments, including twice deferring previously anticipated rate increases; achieving the best safety record in recent history; receiving a first-place ranking in customer satisfaction as noted by J.D. Power and Associates; and being named large corporate volunteer of the year by the local United Way.
CPS Energy employees serve more than 1 million customers in Bexar County and seven adjoining counties, covering more than a 1,500-square-mile service area. Their service coupled with a diverse portfolio of coal, gas, nuclear, wind, and solar has helped the utility maintain the lowest rates for its customers among the top 10 largest U.S. cities.
In addition to providing safe, reliable, and affordable service, CPS Energy provides a major revenue source to the city of San Antonio. While the utility is managed by an independent board of trustees, under its ownership agreement, CPS Energy returns up to 14 percent of gross revenues to the city. Over the past seven decades, the utility has returned a total of $5.3 billion in gross revenues to the city.
On Oct. 24, 1942, the city purchased the utility with revenue bonds for $33 million, turning the San Antonio Public Service Co. (SAPSCo) into the City Public Service Board. The utility was known as City Public Service until it was renamed CPS Energy in 2003. CPS Energy’s roots go back to 1860 when the oldest utility company in Texas began operations as the San Antonio Gas Co.
For more information, visit www.cpsenergy.com.
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