DEPARTMENT: Finance
DEPARTMENT HEAD: Ben Gorzell, Chief Financial Officer
COUNCIL DISTRICTS IMPACTED: Citywide
SUBJECT:
A briefing by the President and CEO of CPS Energy on the status of the utility
SUMMARY:
A briefing by the President and CEO of CPS Energy on the status of the utility
BACKGROUND INFORMATION:
This briefing is part of the ongoing process of keeping Council informed of the activities of the City owned utilities. Starting in January 2018, CPS Energy and the San Antonio Water System (SAWS) will begin providing status reports to Council in alternating months.
CPS Energy is the nation's largest municipally owned energy utility providing both natural gas and electric service. It serves more than 805,000 electric and 344,000 natural gas customers in and around San Antonio.
CPS Energy is owned by the City of San Antonio and is governed by a five-member Board of Trustees with the Mayor serving as an ex-officio member. The City Council exercises its oversight of CPS Energy through the approval of rates and charges, authorization of debt issuances, approval of all condemnations, and the approval of the appointment of all Trustees except the Mayor.
For this item, Paula Gold-Williams, CPS Energy's President and CEO, will provide an update on the status of the utility and current projects and initiatives, to include matters related to reliability and resiliency of customer infrastructure and market operations.
Topics will include:
* Electricity Market Operations, peak demands and power reserve margin update
* Gas Utility Growth Strategy
* Electric System Resiliency
o Inclement weather conditions
o Reliability enhancements & challenges
* Financial integrity of CPS Energy
o Key credit factors and Maintaining strong credit rating
o Creditworthiness and costs saving
ISSUE:
CPS Energy will provide an update on the status of the utility.
ALTERNATIVES:
CPS Energy will provide an update on the status of the utility.
FISC...
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