News & Events

June 25, 2026 Electric vehicles are becoming more common across San Antonio, and CPS Energy is partnering with WeaveGrid on a new program designed to help customers save money while supporting grid reliability.

Through the EV Smart Rewards Program, eligible customers can earn bill credits for charging their electric vehicles during times that reduce strain on the electric grid.

 CPS Energy customers can earn a $30 upfront credit and up to $120 in annual bill credits by charging their EVs during off-peak hours, helping strengthen grid reliability for the San Antonio community.

Smarter Charging for EV Drivers
The program offers two participation options, giving drivers the flexibility to choose what best fits their lifestyle and charging setup. Both options include access to a personalized dashboard with insights into home charging costs and usage.

EV Smart Rewards provides an automated charging experience designed to help drivers maximize savings. Participants set their preferred departure time and battery level, and WeaveGrid schedules charging to optimize for off-peak hours and grid conditions. Drivers can override the schedule at any time if immediate charging is needed.

• $30 enrollment bill credit per enrolled device
• $10/month bill credit

EV Off-Peak Rewards allows participants to manage their own charging during off-peak hours (10PM – 4PM CST) and earn bill credits.

• $30 enrollment bill credit per enrolled device
• $5/month bill credit

The program supports up to two devices per household and is available to drivers with an eligible vehicle or charger, with more eligible devices coming soon.

• Eligible vehicles: Tesla, Jeep, Toyota, and Lexus electric vehicle or plug-in hybrid.

• Eligible chargers: ChargePoint®, Emporia®, and Wallbox® home charging station.

How to Join EV Smart Rewards

Enrolling is easy and takes just a few minutes:

1. Visit the program enrollment page: CPSEnergy.com/EV

2. Create a WeaveGrid account and connect an eligible vehicle or home charging station.

3. Select a participation option: EV Smart Rewards or  EV Off-Peak Rewards.

Once enrolled, monthly bill credits appear automatically on the driver’s CPS Energy account. Enrollment is first-come, first-served, and space is limited, so sign up today!

OCI ENERGY AND CPS ENERGY BREAK GROUND ON ALAMO CITY BATTERY ENERGY STORAGE PROJECT by Sydney Colwell

One of the largest standalone energy storage projects in the region, Alamo City BESS will bring flexible power and long‑term energy resilience to the San Antonio area

SAN ANTONIO, TX (MAY 19, 2026) – Today, OCI Energy, CPS Energy, and their project teams gathered in southeastern Bexar County to mark the official start of construction on the Alamo City Battery Energy Storage System (BESS).

The ceremonial groundbreaking commemorated the transition from development to the build phase of one of the largest standalone battery energy storage projects in the region. The project is designed to strengthen how the San Antonio community is served during periods of highest electricity use.

Once completed, the 120 MW / 480 MWh facility will be capable of powering approximately 30,000 homes for up to four hours, delivering critical support during periods of peak demand. By shifting how and when electricity is supplied, the project is designed to help deliver power more efficiently and economically.

“This project represents a significant step forward toward realizing a more resilient, reliable energy system that San Antonians can be truly proud of,” said Sabah Bayatli, President, OCI Energy. “This groundbreaking reflects years of thoughtful coordination, planning, and hard work – and once completed, it will help the electric system better manage peak demand events.”

OCI Energy developed and financed the Alamo City BESS and will retain ownership under a long‑term storage capacity agreement with CPS Energy, who will have operational control of the facility to serve the San Antonio region when needed.

“Energy storage is a critical component of how we prepare for the future,” said Rudy D. Garza, President & CEO of CPS Energy. “Projects like Alamo City BESS give us the flexibility to meet growing demand, integrate more diverse energy resources, and ensure our community has reliable power when it matters most.”

Organizations with deep experience across the energy sector are supporting the delivery of this project. ING is providing construction financing, LG Energy Solution Vertech is supplying the battery energy storage technology, and Elgin Power Solutions is serving as the Engineering, Procurement, and Construction contractor.

This collaboration represents a significant investment in the region and a shared commitment to building durable infrastructure that supports Texas’ energy system during periods of high demand.

“Breaking ground on Alamo City BESS marks an important milestone in turning plans into real, resilient infrastructure for the San Antonio region,” said Sven Wellock, Head of Renewables and Power,

Americas, ING. “Battery storage plays a critical role in strengthening grid reliability during periods of peak demand, and we are pleased to support OCI Energy and CPS Energy in delivering a project that combines scale, flexibility, and long-term value for the community.”

“We’re proud to support the Alamo City energy storage project and to see construction begin,” said Jaehong Park, CEO and President of LG Energy Solution Vertech. “This project adds further resiliency and stability to the grid, leveraging energy storage to ease demand constraints and improve energy availability.”

“Alamo City BESS represents the kind of forward-looking infrastructure investment needed to support a more reliable and flexible electric grid,” said Austin Hall, President, Elgin Power Solutions. “Our team is excited to help deliver a project that will provide long-term value to the San Antonio region and support energy resilience for years to come.”

Alamo City BESS is expected to enter commercial operation in 2027.

About OCI Energy

OCI Energy is a U.S.-based developer, owner, and operator of utility-scale solar and battery energy storage projects, with a track record of delivering some of Texas’ earliest large-scale solar developments. Since 2012, the company has advanced a growing portfolio of projects across key U.S. power markets, spanning the full lifecycle from early-stage development through asset management. With a multi-gigawatt pipeline and continued expansion underway, OCI Energy is helping meet rising energy demand with reliable, secure, and affordable power that supports communities and strengthens the grid.

About CPS Energy

Established in 1860, CPS Energy is the nation’s largest public power, natural gas, and electric company, providing safe, reliable, and competitively-priced service to approximately 970,000 electric and 390,000 natural gas customers in San Antonio and portions of seven adjoining counties. Our customers’ combined energy bills rank among the lowest of the nation’s 20 largest cities – while generating $10.1 billion in revenue for the City of San Antonio since 1942. As a trusted and strong community partner, we continuously focus on job creation, economic development, and educational investment. We are powered by our skilled workforce, whose commitment to the community is demonstrated through our employees’ volunteerism in giving back to our city and programs aimed at bringing value to our customers.

About ING Capital

ING Capital LLC is a financial services firm offering a full array of wholesale financial lending products and advisory services to its corporate and institutional clients. ING Capital LLC is an indirect U.S. subsidiary of ING Bank NV, part of ING Groep NV (NYSE: ING), a global financial institution with a strong European base. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank’s more than 53,000 employees offer retail and wholesale banking services to customers in over 40 countries. Please note that neither ING Groep NV nor ING Bank NV have a banking license in the U.S. and are therefore not permitted to conduct banking activities in the U.S.

About LG Energy Solution Vertech

LG Energy Solution Vertech is the U.S. energy storage division of LG Energy Solution. Via a single contract, the company delivers complete systems, long-term warranties, expert services, and advanced software. The combination of excellence in technology coupled with nearly two decades of energy storage experience makes LG Energy Solution Vertech a leader in the global energy storage market.

In 2022, LG Energy Solution acquired NEC Energy Solutions and established LG Energy Solution Vertech Inc. By vertically integrating the battery manufacturer and integrator, LG Energy Solution Vertech offers customers a uniquely streamlined experience and comprehensive support through a system-level contracting process. LG Energy Solution Vertech provides bankable, reliable, and comprehensive energy storage solutions as a lifetime energy storage partner.

About Elgin Power Solutions

Elgin Power Solutions is a leading U.S. power system manufacturer and EPC contractor specializing in high voltage substations, battery energy storage systems (BESS), transmission lines, custom switchgear and other high-voltage infrastructure projects. With more than 45 years of experience, Elgin delivers engineered solutions for a wide range of energy markets across North America. Backed by in-house engineering, manufacturing, and construction capabilities, Elgin is known for reliable execution, industry-leading expertise, and a commitment to delivering safe, high-quality power infrastructure solutions that support long-term grid resilience and performance.

CPS ENERGY AND ASHTROM RENEWABLE ENERGY BREAK GROUND ON SOLAR FARM by Milady Nazir

Ashtrom Renewable Energy, elected officials and partners celebrate groundbreaking of El Patrimonio

SAN ANTONIO, TX (MAY 12, 2026) – Ashtrom Renewable Energy leaders were joined by members of CPS Energy, SOLV Energy, and elected officials as they broke ground on El Patrimonio, a new solar facility in Bexar County.

Construction of the El Patrimonio Project began in 2025 and is expected to be completed in 2027. Once operational, the project is projected to supply electricity to approximately 37,000 households and reduce carbon emissions by about 193 tons annually.

“This is an exciting day for Ashtrom Renewable Energy and a major milestone in our continued commitment to delivering sustainable, reliable energy solutions,” said Yitsik Mermelstein, CEO of Ashtrom Renewable Energy.  “We want to thank our partners, including CPS Energy, SOLV Energy, Bexar County, and the City of San Antonio for their collaboration, vision and support bringing this project to life.”

 “CPS Energy is the number one buyer of solar energy in Texas,” said Frank Almaraz, Chief Operating Officer of CPS Energy.  “Today’s groundbreaking and partnership with Ashtrom helps maintain our leadership position. Renewable energy is also a key part of delivering on our diverse generation plan to meet our growing population’s needs.”

“Breaking ground on El Patrimonio marks the start of an important partnership between SOLV Energy and Ashtrom Renewable Energy,” said George Hershman, CEO of SOLV Energy. “From construction through operations, SOLV is committed to delivering this project safely, efficiently, and with a focus on long term performance – supporting Ashtrom’s vision and Texas’ growing energy needs.”

Under a 20-year Power Purchase Agreement with CPS Energy, the municipally-owned electric and gas utility of San Antonio, CPS Energy will purchase about 70% of the electricity generated by the project, along with renewable energy credits. The remaining electricity will be offered in the Texas open electricity market by Ashtrom.

About CPS Energy

Established in 1860, CPS Energy is the nation’s largest public power, natural gas, and electric company, providing safe, reliable, and competitively-priced service to approximately 970,000 electric and 390,000 natural gas customers in San Antonio and portions of seven adjoining counties. Our customers’ combined energy bills rank among the lowest of the nation’s 20 largest cities – while generating $10.1 billion in revenue for the City of San Antonio since 1942. As a trusted and strong community partner, we continuously focus on job creation, economic development, and educational investment. We are powered by our skilled workforce, whose commitment to the community is demonstrated through our employees’ volunteerism in giving back to our city and programs aimed at bringing value to our customers.

About Ashtrom Renewable Energy

Ashtrom Renewable Energy is delivering clean energy at scale. We build best-in-class renewable energy projects in the United States and around the globe. With a hands-on, risk-informed approach that emphasizes strategic and cost-effective execution, the company is an independent power producer (IPP) led by a team of energy experts with decades of experience in development, construction, financing, and operation of renewable energy projects. Ashtrom Renewable Energy leverages the financial stability and culture of excellence cultivated by Ashtrom Group (TASE: ASHG), a leading infrastructure, construction, and real estate development company with a 60-year legacy of success.

CPS ENERGY EXPANDS COMMUNITY SOLAR THROUGH NEW REQUEST FOR PROPOSAL FOR UP TO 50 MW by Sydney Colwell

Feb.4, 2026 – (SAN ANTONIO) CPS Energy is expanding its community solar program through a Request for Proposal (RFP) seeking up to 50 megawatts (MW) of community solar -enough to power approximately 10,000 homes during peak energy demand hours. The initiative supports the utility’s Sustainable Tomorrow Energy Plan (STEP) and reflects its ongoing commitment to delivering reliable, affordable, and sustainable energy for the San Antonio and surrounding areas.

Through this RFP, CPS Energy invites respondents to propose community solar projects that offer customers an alternative to installing and maintaining solar panels on their properties. The solicitation allows for a range of project approaches, with the potential for multiple awardees, and is designed to support scalable solutions that can be deployed in the near term.

CPS Energy has developed multiple paths for vendors to participate in the solicitation and is seeking proposals for the following: complete turnkey community solar programs, new innovative approaches to community solar that incorporate new technologies or program models, or solar installation-only solutions.

Selected respondents will enter into Power Purchase Agreements with CPS Energy for the sale of 100% of the electrical output. Responses are welcome from local and small businesses as well as larger industry leaders. As a community-owned utility, CPS Energy supports economic development and is encouraging broad participation in this solicitation.

Community solar programs can help expand access to renewable energy for customers who have faced traditional barriers to participation in the past, including those customers who live in apartments or rental homes.

“This RFP reflects CPS Energy’s continued focus on expanding our solar portfolio in ways that are flexible, scalable, and responsive to our community’s needs,” said Jonathan Tijerina, Vice President of Corporate Development, CPS Energy. “Community solar allows us to bring more renewable energy online while maintaining affordability and reliability for our customers.”

CPS Energy ranks first in Texas for solar power capacity. Through STEP, the utility is focused on reducing barriers to solar participation while supporting a diverse and resilient generation mix.

The following are key dates for the RFP:

All participants can view the RFP and must submit proposals through cpsenergy.com/bids. After the closing date, CPS Energy will begin evaluations with a goal of making selections later this year.

CPS ENERGY LAUNCHES REQUEST FOR PROPOSAL FOR 500 MW OF BATTERY STORAGE by Milady Nazir

Once the RFP is finalized, the utility will have secured more than 1,000 MW of battery storage capacity to serve the community

Dec. 15, 2025 – (San Antonio, TX) – CPS Energy has issued a Request for Proposal (RFP) to acquire up to 500 megawatts (MW) of additional battery storage. This latest RFP supports the utility’s previously approved Vision 2027 Generation Plan, which aims to deliver affordable, reliable, and sustainable energy to the greater San Antonio area.

“This request to add more battery storage to our generation portfolio continues to fulfill our promise to deliver on the utility’s Vision 2027 Generation Plan,” said Rudy D. Garza, President and CEO of CPS Energy. “The RFP reinforces our team’s ongoing commitment to secure additional energy resources needed to keep pace with our community’s rapid growth.”

Upon completion of the RFP, the utility anticipates having more than 1,000 MW of operational or contracted storage capacity to serve its customers. To date, CPS Energy has successfully brought 50 MW of storage capacity online as part of the Vision 2027 plan. An additional 470 MW is in development and expected to be online in 2026.

The RFP is also aligned with CPS Energy’s commitment to the City of San Antonio’s Climate Action & Adaptation Plan (CAAP), which, in addition to a continued commitment to generation resource diversity, pursues carbon neutrality by 2050.

The deadline to submit a proposal is Friday, Jan. 30, 2026, at 11:45 p.m. Central Time. Submissions must be made using the Power Advocate Portal link.

CPS ENERGY LAUNCHES REQUEST FOR PROPOSAL FOR UP TO 600 MW OF SOLAR ENERGY by Milady Nazir

CPS Energy is the number one purchaser of solar capacity in Texas

November 18, 2025 – (San Antonio, TX) – CPS Energy has issued a Request for Proposal (RFP) to acquire up to 600 megawatts (MW) of additional solar energy through one or more Power Purchase Agreements (PPAs). This latest RFP supports the utility’s previously approved Vision 2027 generation plan, which aims to deliver affordable, reliable, and sustainable energy to the greater San Antonio area.

“Every megawatt counts in powering San Antonio, one of the fastest growing regions across the country,” said Rudy D. Garza, President and CEO of CPS Energy. “We are the number one purchaser of solar energy in the state of Texas. I’m grateful for our dedicated teams and their efforts to grow our use of solar to fulfill CPS Energy’s Vision 2027 strategic plan.”

Upon completion of this RFP, the utility anticipates having over 1,600 MW of solar generation capacity, operational or under contract, to serve its customers. With over 1,000 MW of solar already operational, CPS Energy ranks number one in Texas for contracted solar generation. Currently, solar energy accounts for 9% of the utility’s energy mix, sourced from 15 solar farms. In addition, by the end of the year, the utility plans to announce another battery storage RFP. This comes on the heels of the 470 MW of contracted future battery capacity announced at the end of last year.

Vision 2027 aligns these RFP efforts with CPS Energy’s commitment to the City of San Antonio’s Climate Action & Adaptation Plan (CAAP), which in addition to a continued commitment to generation resource diversity, pursues carbon neutrality by 2050.

The deadline for interested bidders to submit a proposal for CPS Energy’s solar RFP is Thursday, January 8, 2026, by 11:45 p.m. Central Time.

Submissions must be made using the Power Advocate Portal link.

CPS ENERGY LAUNCHES UPDATED CASA VERDE WEATHERIZATION REBATE PROGRAM  by Miguel Vargas

New version of program expands local contractor participation and gives customers more flexibility

October 28, 2025 (SAN ANTONIO) – CPS Energy has launched a new version of the Casa Verde Weatherization Rebate Program, designed to help income-qualified customers reduce their energy use and lower their monthly bills. The program introduces expanded contractor participation and gives customers more choices in how they receive services.

The Casa Verde program has provided weatherization services to improve comfort and energy efficiency since 2009. Under the new rebate program, CPS Energy customers work directly with a registered Trade Ally. A registered Trade Ally is a contractor who meets certain program requirements to participate and perform weatherization services, helping customers save energy and money.

Under the new rebate structure, customers and their selected Trade Ally can decide together how the rebate will be applied. Customers may choose to receive the rebate directly after the work is completed and they’ve paid the Trade Ally, or they can assign it to the Trade Ally up front to reduce or eliminate out-of-pocket costs for approved weatherization upgrades. This customer-centered approach empowers residents to select a contractor that best fits their needs and schedule.

CPS Energy will verify eligibility and confirm the customer’s Trade Ally selection. The Trade Ally will then schedule a home assessment to identify eligible weatherization upgrades with the customer and complete the approved work, and then CPS Energy will issue the rebate for the weatherization upgrades.

The updated Casa Verde program provides several new benefits for customers:

• Participants can now choose their preferred Trade Ally to complete their home upgrades, giving them more control over who performs the work.

• Customers can apply online through a simplified process that makes it easier to get started.

• The list of available rebates has expanded to include:

• Window air conditioners

• HVAC system replacements

• ENERGY STAR appliances

“Casa Verde has been a cornerstone of our commitment to help customers save energy and money,” said Jonathan Tijerina, Vice President of Corporate Development. “This new rebate model continues that work by engaging more local partners to deliver these important services and gives our customers a say in who they work with.”

The Weatherization Repair Assistance Program (WRAP) will remain active providing funding for minor home repairs that help prepare homes for Casa Verde weatherization upgrades. WRAP ensures homes are ready to receive energy-saving improvements by addressing structural issues that might otherwise prevent weatherization work.

To get started, customers can visit cpsenergy.com/casaverde to complete an online application or call us at (210) 353-2272 (CASA) for more information. CPS Energy will continue to oversee the program and make sure that all participating Trade Allies maintain program eligibility. Customers can find a list of official Registered Trade Allies on our website.

See Article Here

STEP by STEP: Real Stories of Energy Efficiency in Action  by Miguel Vargas

With the support of our community, CPS Energy’s Sustainable Tomorrow Energy Plan (STEP) has helped families, schools, non-profits, and businesses across the community save energy and money, while contributing to a future with lower carbon emissions. Approved in August 2022, STEP is now in year 3 of a 5-year plan and continues to deliver real value and savings where they matter most.

In the most recent three-year cycle (August 2022 to July 2025), STEP has:

• Invested $205 million in our local community
• Served more than 140,000 customers
• Reduced energy demand by 280 megawatts—enough to power 70,000 homes on a hot summer day
• Avoided 850,000 tons of carbon emissions—equal to taking 180,000 cars off our local roadways
• Weatherized over 6,500 homes to be more energy efficient and save on bills
• Launched the new pilot program, Multifamily Program, to bring energy savings and enhanced comfort to customers who live in apartments

The STEP program is more than statistics; it is an initiative adopted by our local community interested in making change.

Watch the video HERE to meet three customers whose lives have been transformed by STEP.

These stories show how STEP helps homes and businesses reduce costs and expand access to energy solutions across San Antonio and beyond. And with new programs like battery rewards and solar pilots, STEP’s next chapter is just beginning.

See how STEP can help your home or business save by visiting our website cpsenergy.com/step or by calling 210-353-2SAV.

September 30, 2025 (SAN ANTONIO) – CPS Energy, the nation’s largest municipally owned electric and natural gas utility, is announcing the beginning of operations of Padua 1, a 50-megawatt (MW) 2-hour duration Battery Energy Storage System (BESS) in Bexar County. Padua 1, owned and operated by Eolian, L.P. (Eolian), was part of an RFP seeking 50 MW of battery storage that the utility launched in 2020.  CPS Energy entered into a storage capacity agreement for Padua 1 with Eolian in 2023. This project advances the utility’s Vision 2027 strategy, which emphasizes delivering reliable, resilient, and cleaner energy solutions to meet the needs of San Antonio’s growing population.

Padua 1 connects directly to the CPS Energy grid and is designed to charge during periods of excess electricity supply to provide capacity that would be readily available to deploy during the hours of highest system cost and needs. This added flexibility to both absorb and discharge electricity within seconds helps strengthen grid reliability, improves system operations during peak usage, and supports the integration of cleaner energy resources, especially during extreme weather and high energy demand days.

“Padua 1 is a major step forward for our utility and our community,” said Rudy D. Garza, President and CEO of CPS Energy. “It’s the first energy storage project as part of our diverse generation plan to come online, and it sets the tone for what’s ahead. Battery storage strengthens our ability to continue to serve our customers reliably now and in the future.”

“The overall Padua Grid battery energy storage complex, which will total 400 MW and nearly 2 GWh when completed in early 2026, will be the largest battery energy storage deployment in Texas when completed,” added Aaron Zubaty, CEO of Eolian. “Padua Grid was sited years ago at a critical substation adjacent to the JK Spruce and retiring Braunig power plants and was specifically designed to reduce overloads on key transmission lines serving San Antonio. Battery energy storage projects of this scale enable the efficient utilization of existing transmission resources and are the lowest-cost and fastest solution to meeting the nation’s strategic need to grow electricity production by allowing baseload power plants to operate better.”

The completion of Padua 1 follows CPS Energy’s 2024 announcement of agreements for an additional 350 MW of battery energy storage capacity, which includes Padua 2, a 150 MW 4-hour system, and Ferdinand, a 200 MW 4-hour system; both projects were also developed by Eolian. Padua 2, also located in Bexar County, is expected to be completed in Spring 2026. As part of a related community benefits agreement, the project entities will contribute at least $175,000 each year to CPS Energy-sponsored activities and scholarships within the Greater San Antonio area for a five-year period once the projects are fully operational.  In addition, in alignment with its community impact program, Eolian contributed $50,000 in 2024 to CPS Energy’s Residential Energy Assistance Program to provide further bill support for customers in the San Antonio area.

About CPS Energy

Established in 1860, CPS Energy is the nation’s largest public power, natural gas, and electric company, providing safe, reliable, and competitively-priced service to more than 950,000 electric and 389,000 natural gas customers in San Antonio and portions of seven adjoining counties. Our customers’ combined energy bills rank among the lowest of the nation’s 20 largest cities – while generating $9.6 billion in revenue for the City of San Antonio for 80 years. As a trusted and strong community partner, we continuously focus on job creation, economic development, and educational investment. We are powered by our skilled workforce, whose commitment to the community is demonstrated through our employees’ volunteerism in giving back to our city and programs aimed at bringing value to our customers. CPS Energy is among the top public power wind energy buyers in the nation and number one in Texas for solar generation.

About Eolian

Eolian operates a growing portfolio of battery energy storage projects and develops and invests in clean energy and co-located datacenter projects across the US. For over 20 years, Eolian’s founding management has worked together to build the assets at the core of the company, creating unique and proprietary structures that have directly funded the development of nearly 30 GW of operating or under-construction energy storage, solar, and wind generating capacity across the country. Eolian is owned by its employees and funds that are managed by Global Infrastructure Partners (GIP), a BlackRock company and leading global infrastructure investor. For more information, follow Eolian on LinkedIn or visit www.eolianenergy.com.

SAN ANTONIO, Texas- September 24, 2025- Today, CPS Energy announced the closing on its acquisition of PROENERGY’s four natural gas power generation facilities with an aggregate electric capacity of approximately 1,632 megawatts (“MW”) for $1.387 billion, subject to customary net working capital adjustments. CPS Energy and PROENERGY previously announced the transaction on Sept. 16, 2025.

The assets acquired include state-of-the-art, recently constructed peaking natural gas plants in Harris, Brazoria, and Galveston counties in the Electric Reliability Council of Texas (“ERCOT”) market. Under the terms of agreements between the parties, PROENERGY will continue to staff, operate, and maintain the acquired units, enabling safe and reliable operation and maintenance of the power plants.

The acquired assets are dual-fuel capable, providing CPS Energy future optionality to transition to a hydrogen fuel blend with favorable carbon emissions. By acquiring recently constructed, currently operating modern power plants that utilize proven technology already in use by CPS Energy, the company avoids higher construction costs, inflationary risk, and supply chain risks associated with building new facilities.

“The closing of this strategic acquisition marks yet another major step in strengthening the reliability and affordability of our generation portfolio,” said Rudy D. Garza, President and CEO of CPS Energy. “This investment benefits our customers today while supporting our long-term energy plan and clean energy commitments.”

J.P. Morgan acted as exclusive financial advisor and Dykema Gossett PLLC acted as legal advisor to CPS Energy with respect to the transaction. CIBC Capital Markets served as exclusive financial advisor and Latham & Watkins LLP served as legal advisor to PROENERGY.

About CPS Energy

Established in 1860, CPS Energy is the nation’s largest public power, natural gas, and electric company, providing safe, reliable, and competitively-priced service to more than 950,000 electric and 389,000 natural gas customers in San Antonio and portions of seven adjoining counties. Our customers’ combined energy bills rank among the lowest of the nation’s 20 largest cities – while generating $9.6 billion in revenue for the City of San Antonio for 80 years. As a trusted and strong community partner, we continuously focus on job creation, economic development, and educational investment. We are powered by our skilled workforce, whose commitment to the community is demonstrated through our employees’ volunteerism in giving back to our city and programs aimed at bringing value to our customers. CPS Energy is among the top public power wind energy buyers in the nation and number one in Texas for solar generation.

About PROENERGY

PROENERGY is an engineering, R&D, and manufacturing powerhouse. The company addresses every need for fast-start power generation: turbine and package manufacturing, turnkey project execution, power purchase agreements, and asset lifecycle care for turbines and plants. Where others see impossible energy challenges, PROENERGY provides innovative aeroderivative solutions.

Contacts:

CPS Energy

Melissa C. Sorola, VP Corporate Communications & Marketing

msorola@cpsenergy.com

210-793-9054

PROENERGY

Chris Evans, VP Marketing

cevans@proenergyservices.com

(660) 829-5100

SAN ANTONIO, Texas – September 16, 2025 – On September 15, 2025, CPS Energy and PROENERGY entered into a definitive agreement under which CPS Energy has agreed to acquire four natural gas power generation facilities with an aggregate electric capacity totaling 1,632-megawatts (“MW”) for $1.387 billion, subject to standard net working capital adjustments. The transaction is expected to close in the third quarter of 2025. Located in the Electric Reliability Council of Texas (“ERCOT”) market, the acquired assets include state-of-the-art, recently constructed peaking natural gas plants in Harris, Brazoria, and Galveston Counties. The acquired assets are dual-fuel capable, providing CPS Energy future optionality to transition to a hydrogen fuel blend that would enable reduced carbon emissions.

In addition to the purchase agreement, CPS Energy and PROENERGY have entered into Operations and Maintenance (O&M) and Total Care Services Agreements (TCSA). Under these agreements, PROENERGY will continue to staff, operate, and maintain the acquired units, ensuring safe and reliable operation and maintenance of the power plants.

This purchase is in alignment with CPS Energy’s community-led and board approved generation and resource plan. Pursuing unique opportunities, such as acquiring these new operating assets in ERCOT, presents a lower cost and lower supply chain risk alternative to building new power facilities, and supports CPS Energy’s long-term objectives of providing reliable, affordable, and cleaner energy to its customers and community.

“By acquiring recently constructed, currently operating modern power plants that utilize proven technology already in use by CPS Energy, we avoid higher construction costs, inflationary risk, and long timelines associated with building new facilities – while also enhancing the reliability and affordability of the CPS Energy generation portfolio,” said Rudy D. Garza, President and CEO of CPS Energy. “We are getting the best of both worlds by securing new infrastructure without delay while also strengthening the power supply for our community. This acquisition secures reliable capacity today – at a lower cost – and is a win for the customers of CPS Energy, the city of San Antonio and all the communities we serve by meeting their long-term energy needs. As we add resources to meet the needs of our fast-growing communities, we will continue to look to a diverse balance of energy sources that complement our portfolio, including natural gas, solar, wind, and storage, keeping our community powered and growing.”

J.P. Morgan is acting as the exclusive financial advisor and Dykema Gossett PLLC is acting as legal advisor to CPS Energy with respect to the transaction. CIBC Capital Markets is serving as exclusive financial advisor and Latham & Watkins LLP is serving as legal advisor to PROENERGY.

About CPS Energy
Established in 1860, CPS Energy is the nation’s largest public power, natural gas, and electric company, providing safe, reliable, and competitively-priced service to more than 950,000 electric and 389,000 natural gas customers in San Antonio and portions of seven adjoining counties. Our customers’ combined energy bills rank among the lowest of the nation’s 20 largest cities – while generating $9.6 billion in revenue for the City of San Antonio for more than 80 years. As a trusted and strong community partner, we continuously focus on job creation, economic development, and educational investment. We are powered by our skilled workforce, whose commitment to the community is demonstrated through our employees’ volunteerism in giving back to our city and programs aimed at bringing value to our customers. CPS Energy is among the top public power wind energy buyers in the nation and the number one utility in Texas for solar generation.

CPS Energy has issued a request for proposal (RFP) to acquire up to 400 megawatts (MW) of wind energy through one or more Power Purchase Agreements (PPAs). This initiative is part of the utility’s Vision 2027 generation plan to address the increasing energy needs for the growing community. The RFP marks the first time in over a decade that CPS Energy has specifically sought proposals for wind projects. CPS Energy’s target to contract up to 400 MW of wind capacity would bring the utility’s total wind generation to 1,467 MW.

“Increasing wind capacity is good for customers and strengthens our diverse and sustainable energy portfolio,” said President and CEO of CPS Energy Rudy D. Garza. “While it can’t replace baseload sources like natural gas and nuclear, wind energy is crucial to balance our grid demands. This is the reason why we have a comprehensive approach to our generation mix.”

CPS Energy currently has approximately 1,067 MW of wind generation in its portfolio, maintaining its position as the second-largest buyer of wind energy in the state. This latest solicitation follows CPS Energy’s recent announcement of an agreement with Avangrid to add an additional 160.8 MW of wind to its existing portfolio.

The utility’s RFP supports CPS Energy’s Vision 2027 plan, which contemplates the retirement of 2,541 MW of older generation capacity before 2030. As part of this future generation plan, since 2023, CPS Energy has added 1,735 MW of natural gas, 113 MW of wind capacity, 480 MW of solar, and 50 MW of energy storage. It has another 254 MW of solar and 470 MW of energy storage under contract.

These efforts also align with CPS Energy’s commitment to the City of San Antonio’s Climate Action & Adaptation Plan (CAAP), which includes a Board of Trustees resolution to support the CAAP’s goal to become carbon neutral by 2050 with interim goals of reducing greenhouse gas 71% by 2040.

CPS Energy will be accepting proposals for projects 20 MW and greater in capacity. The deadline for interested bidders to submit a proposal is Friday, August 29, 2025, by 5 p.m. Central Time.

Submissions must be made using the Power Advocate Portal link.

About CPS Energy

Established in 1860, CPS Energy is the nation’s largest public power, natural gas, and electric company, providing safe, reliable, and competitively-priced service to more than 950,000 electric and 389,000 natural gas customers in San Antonio and portions of seven adjoining counties. Our customers’ combined energy bills rank among the lowest of the nation’s 20 largest cities – while generating $9.6 billion in revenue for the City of San Antonio for 80 years. As a trusted and strong community partner, we continuously focus on job creation, economic development, and educational investment. We are powered by our skilled workforce, whose commitment to the community is demonstrated through our employees’ volunteerism in giving back to our city and programs aimed at bringing value to our customers. CPS Energy is among the top public power wind energy buyers in the nation and number one in Texas for solar generation.

July 22, 2025 (SAN ANTONIO) – CPS Energy announced today an agreement with Modern Hydrogen on a new project to explore the potential for increasing grid resiliency and enabling cleaner power generation from natural gas. This project aims to address the growing demand for power resulting from population growth and increasing electricity loads.

CPS Energy will pilot Modern Hydrogen’s technology to convert natural gas into clean hydrogen as an ongoing gas-decarbonization service.  The project represents the first step in a long-term strategic investment in producing reliable, cleaner power at scale, as set forth in CPS Energy’s Vision 2027, which includes a commitment to a diverse power portfolio that incorporates new technologies.

 “We need more energy, including natural gas, to serve our customers’ growing needs,” said President and CEO of CPS Energy Rudy D. Garza. “We are committed to San Antonio’s Climate Action and Adaptation Plan (CAAP). By exploring this innovative opportunity to produce clean hydrogen using our existing natural gas system, we are moving forward on our commitment to deliver reliable, affordable, and cleaner energy for our community.”

CPS Energy will be one of a few utilities in the nation to pilot distributed natural gas pyrolysis technologies and carbon capture. Instead of combusting natural gas and releasing or capturing CO2, Modern Hydrogen uses a process to break down the hydrocarbons that are in natural gas, producing hydrogen and solid carbon. The solid carbon is captured and reused in products like asphalt for infrastructure projects.

“San Antonio is making a smart, Texas-led bet on natural gas and clean power generation,” said CEO of Modern Hydrogen Tony Pan. “San Antonio and CPS Energy are showing the promise of American natural gas, for both clean power generation, and for better materials to build our infrastructure. They’re showing the country what it looks like to lead on reliability, energy security, and affordability.”

“Creating new markets for Texas natural gas is both a good energy policy and a long-term investment in the regional economy,” said Chairman of the Railroad Commission of Texas Jim Wright. “Deployments like this show how innovative technologies can unlock new value from the Eagle Ford and other prolific basins. This is about keeping American energy competitive, reliable, and local—exactly the kind of leadership Texans expect.”

The pilot is intended to be scalable while maintaining reliability and affordability for CPS Energy customers. If successful, future deployments of this technology may benefit regional power hubs, fleet depots, or transit systems in reducing grid strain. “I’ve modeled the limitations of electrification and centralized hydrogen,” said University of Houston Petroleum Engineering Professor Christine Ehlig-Economides. “By tapping methane in the existing US pipeline network, distributed pyrolysis is one of the few pathways that may allow ubiquitous local hydrogen generation without massive disruption.”

About CPS Energy

Established in 1860, CPS Energy is the nation’s largest public power, natural gas, and electric company, providing safe, reliable, and competitively-priced service to more than 950,000 electric and 389,000 natural gas customers in San Antonio and portions of seven adjoining counties. Our customers’ combined energy bills rank among the lowest of the nation’s 20 largest cities – while generating $9.6 billion in revenue for the City of San Antonio for 80 years. As a trusted and strong community partner, we continuously focus on job creation, economic development, and educational investment. We are powered by our skilled workforce, whose commitment to the community is demonstrated through our employees’ volunteerism in giving back to our city and programs aimed at bringing value to our customers. CPS Energy is among the top public power wind energy buyers in the nation and number one in Texas for solar generation.

About Modern Hydrogen

Modern Hydrogen is an energy & materials company based in Seattle, WA. Modern’s proprietary natural gas pyrolysis technology converts regular pipeline natural gas into high-value hydrogen and produces solid carbon, which is used to strengthen asphalt pavement. By producing hydrogen at the point of use, Modern Hydrogen helps utilities and industry extend the value of their existing energy infrastructure and reduce emissions while maintaining energy security and affordability. Backed by top investors and customers, including Bill Gates, NextEra Energy, National Grid, CPSE, and NW Natural, Modern Hydrogen is redefining how natural gas resources can become more valuable and sustainable within and beyond the energy industry.

-On May 26, OCI Energy signed a three-party agreement with CPS Energy and LG Energy Solution’s subsidiary Vertech

- The partnership will begin with the Alamo City project, scheduled for completion by the end of 2026

- OCI Holdings to strengthen mid- to long-term cooperation for a pipeline of 13 ESS projects totaling 3.0GW.

 - Plans to build a 2GW solar cell plant in San Antonio, Texas by next year to hedge against tariff risks

OCI Holdings announced on the 27th that its U.S. subsidiary, OCI Energy, signed a three-party memorandum of understanding (MOU) with Texas-based energy company CPS Energy and Vertech, a subsidiary of LG Energy Solution, for the North American energy storage system (ESS) business. The signing ceremony was held on the morning of the 26th at OCI’s headquarters in Seoul.

Key attendees included Kim ChoungHo, President of U.S.-based solar holding company OCI Enterprises; Sabah Bayatli, President of OCI Energy; Rudy D. Garza, President and CEO of CPS Energy; Kim Dong-Myung, President and CEO of LG Energy Solution; Kim Hyung-sik, Head of ESS Battery Division; and Park Jae-hong, Head of Vertech.

Under the agreement, OCI Energy will secure ESS batteries through a supply contract with Vertech, store solar energy generated during the day, and sell the stored electricity to CPS Energy.

CPS Energy, the largest municipally owned electric and natural gas utility in the U.S., serves approximately 1.28 million customers in Texas. The three parties will kick off their collaboration with the “Alamo City ESS LLC” project, which is scheduled for completion at the end of 2026 and expand cooperation on OCI Energy’s pipeline of 13 ESS projects totaling around 3GW.

The “Alamo City ESS LLC” project is a solar power plant under development on a 35-acre site in southeastern Bexar County, Texas. It will integrate a 120MW solar photovoltaic system with a 480MWh energy storage system (ESS).

In December of last year, OCI Energy announced the development of the Alamo City ESS LLC project and signed a 20- year Storage Capacity Agreement(SCA) with CPS Energy to supply power to the San Antonio area. In addition, OCI Holdings recently announced a $265 million (approx. KRW 380 billion) strategic investment to build a solar cell manufacturing plant in North America. The new facility, located in San Antonio, Texas, will span 200,000 square feet and is expected to secure a production capacity of 2GW — 1GW in the first half of next year and another 1GW in the second half — in response to global tariff risks and surging electricity demand.

According to the Center for Strategic and International Studies (CSIS), electricity demand from AI data centers in the U.S. is expected to surge from 4GW in 2024 to 84GW by 2030 — a 2,100% increase. Texas, home to OCI Energy, is a key location for AI data centers, including those operated by OpenAI, Oracle, and Crusoe.

A spokesperson for OCI Holdings stated, “In light of external uncertainties, including reciprocal tariffs, we have selected LG Energy Solution — which has multiple production bases in North America, including Holland, Michigan — as our ESS battery strategic partner. Going forward, we will further strengthen our collaboration with LG Energy Solution and CPS Energy to ensure sustainable electricity supply through our North American ESS projects and address the intermittency of solar energy.”

CPS Energy has expanded its existing Power Purchase Agreement (PPA) with Avangrid by adding an additional 159.2 megawatts (MW) of wind energy from the Peñascal wind farm in Kenedy County, Texas. As a result of this expanded agreement, the utility’s power capacity from Avangrid will nearly double, rising from 160.8 MW to 320 MW. This increase is enough to power approximately 40,000 homes on a hot summer day.

“CPS Energy’s expanded relationship with Avangrid is a testament to our Vision 2027 plan, a comprehensive and diverse generation portfolio that enhances our capacity to serve a growing community,” said Rudy D. Garza, President & CEO of CPS Energy.  “This additional investment in wind power allows us to continue to provide reliable and sustainable energy at an affordable price for our customers.”

“Avangrid’s relationship with CPS Energy grows even stronger with this expanded power contract,” said Pedro Azagra, Avangrid CEO. “Demand for electricity is growing from coast to coast, and we are glad to see this project serving communities in and around San Antonio. Projects like Peñascal are helping ensure we meet the growing demand for energy in Texas and support the reliability of the local electrical grid while bolstering the state’s reputation as a leader in American power production.”

The Peñascal wind farm has a total capacity of 401 MW. With this expanded agreement, Avangrid will allocate 80% of the total wind energy produced at this facility to CPS Energy’s customers.

CPS Energy currently has approximately 908 MW of wind capacity in its generation portfolio. With the addition of the 159.2 MW from Avangrid, the utility will have a total of 1,067 MW of this renewable resource—maintaining CPS Energy’s position as the second-largest buyer of wind energy in the state. This additional wind energy connected to CPS Energy’s power system on April 1, 2025, and is already online to support the energy demand during this summer season.

This latest PPA expansion supports CPS Energy’s Vision 2027 plan which contemplates the retirement of 2,541 MW of older generation capacity before 2030. As part of this future generation plan, in 2024 CPS Energy added 1,735 MW of natural gas, 113 MW of wind capacity, 480 MW of solar and 520 MW of energy storage under contract. CPS Energy also contracted an additional 52 MW of nuclear.

These efforts also align with CPS Energy’s commitment to the City of San Antonio’s Climate Action & Adaptation Plan (CAAP), which includes a Board of Trustees resolution to support the CAAP’s goal to become carbon neutral by 2050 with interim goals of reducing greenhouse gas 71% by 2040.

As a community-owned utility, CPS Energy is committed to supporting individuals and families who may need bill assistance this holiday season. With over 82,000 customers enrolled in payment plans, CPS Energy continues to provide programs designed to ease the burden of utility bills.

 CPS Energy offers around 13 different billing assistance programs. The holidays can be a stressful time for many, and these programs are here to help customers navigate financial challenges.

The Affordability Discount Program (ADP)

ADP offers low-income customers a monthly discount on electric and gas services. To qualify for this program, your household income must be at or below 150% of the federal poverty guidelines, and you must meet one of the following requirements:

• Be 60 years old or older.
• Have a disability.
• Use life-sustaining medical equipment.
• Have pre-school aged children or school children age 18 and under.
• Have extenuating circumstances as determined by CPS Energy or the City of San Antonio.

For more details on how to apply, visit the ADP webpage.

Budget Payment Plan

The Budget Payment Plan helps balance out energy costs by averaging your annual bill and dividing it into equal monthly payments. Your account will be periodically reviewed for any necessary updates based on environmental factors, changing fuel costs, and usage.

Nearly 35,000 CPS Energy residential customers use the Budget Payment Plan. For more information, visit the Budget Payment Plan webpage here.

In addition, customers who need help managing past-due balances can apply for a modified budget payment plan. This plan breaks past-due amounts into manageable installments, which are added to the monthly Budget Payment Plan payments. To apply, simply log into your CPS Energy account.

Residential Energy Assistance Partnership (REAP)

Established in 2002, REAP is a partnership between CPS Energy, the City of San Antonio, and Bexar County. CPS Energy contributes $1 million annually to the REAP fund and raises additional funds throughout the year to help those in need. Earlier this year, the CPS Energy Board of Trustees approved the expansion of REAP to offer billing support for more customers. As part of this expansion, the utility also made a one-time $6 million contribution from the utility’s summer 2023 wholesale revenues.

You may qualify for REAP assistance if:

• Your household income is at or below 150% of federal poverty guidelines.
• You live in San Antonio or Bexar County.
• You meet at least one of the following: are 60 years or older, disabled, have children under age 16 living in your home, or require critical-care equipment.

To learn more, visit the REAP webpage.

Are you looking for a way to give back this holiday season?

Last year, CPS Energy updated its Energy Angel program. This program allows you to make a difference by donating anonymously to a CPS Energy account holder to help them with a payment toward their bill. You can make a one-time donation to the general Energy Angels fund, which helps those who may not qualify for REAP. Alternatively, you can make a direct donation to a specific individual by providing two of the following details:

• Address of the recipient
• Phone number of the recipient
• CPS Energy account number of the recipient

In addition to these programs, CPS Energy offers assistance for critical care customers, disabled citizens, senior citizens, veterans, and first responders. Visit the payment and assistance webpage for a complete list of available programs.

How to get help

Assistance programs can make a meaningful difference to families in need. If you or someone you know needs assistance this holiday season, call CPS Energy at (210) 353-2222. Energy Advisors are ready to answer questions on assistance programs and offer resources to help customers.

Battery energy storage capacity under contract for CPS Energy exceeds 500 MW

December 6, 2024 (SAN ANTONIO) – CPS Energy, the largest municipally owned electric and natural gas utility in the United States, has entered into a long-term storage capacity agreement (SCA) with OCI Energy for a 120 megawatt (MW) – 480 megawatt-hour (MWh) – battery energy storage project called “Alamo City ESS LLC” which will be located in southern Bexar County, Texas.

Additionally, as part of a related community benefits agreement, OCI Energy will contribute $250,000 to the University of Texas at San Antonio (UTSA). OCI Energy will work with UTSA to establish educational initiatives tied to the $250,000 contribution.

This four-hour duration battery storage project will be newly constructed and is expected to be online in late 2026, serving the energy needs of the San Antonio community for a 20-year period. Four-hour duration means the amount of time the battery storage project can discharge at its full power capacity (120 MW) before entirely depleting its stored energy. The addition of this 120 MW project is a continuation of the utility’s execution of its Vision 2027 generation plan and brings CPS Energy’s battery storage under contract to 520 MW.

 “Our community is growing at an exponential rate, and we have been focused on our Vision 2027 strategy to meet this growth,” said Rudy D. Garza, President & CEO of CPS Energy. “I’m proud of our team for delivering on our commitment to increase energy capacity for our growing community. Every megawatt that we can provide our customers counts.”

“As a San Antonio-based company, we are thrilled to build on our successful, and more than a decade-long collaboration with CPS Energy, said Sabah Bayatli, President of OCI Energy. “Together, we’ve delivered multiple utility-scale solar projects to Texas’s power grid, paving the way for renewable energy in San Antonio and across Texas. Now, we’re embarking on an exciting new chapter—introducing large-scale battery energy storage to San Antonio to help secure reliable and sustainable power for our community today and for generations to come.”

 “This agreement is another important step toward a future focused on reliability, sustainability, and clean energy,” said Mayor Ron Nirenberg. “This battery storage project continues the productive relationship between CPS Energy and OCI Energy that has helped our community become a national leader in the renewable solar power industry and preparing for the energy landscape of the future.”

In January 2023, the CPS Energy Board of Trustees approved a generation plan as part of the utility’s Vision 2027 strategy to power the community into the future. CPS Energy has since added 1,710 MW of owned natural gas generation, 500 MW of natural gas firming capacity, an additional 84 MW of wind capacity, and contracted 730 MW of solar energy.

The utility increased energy reserves, added more smart technology, weatherized plants, and conducted tree-trimming for more reliable and resilient operations.

December 2, 2024 (SAN ANTONIO) – CPS Energy has completed winter readiness and preparations for the upcoming winter season. The utility conducted unit maintenance and increased energy reserves, bringing CPS Energy’s total energy reserves to 8,178 megawatts (MW). This energy supply is enough to meet the power demands of over 2 million homes and more than enough to cover the record-breaking energy peak demand experienced in January 2024.

The utility also increased advanced technology, such as smart switches, to improve grid reliability. The technology supports early fault detection, limits the number of customers impacted by outages, and improves restoration times. CPS Energy installed over 1,200 intelligent switches (reclosers) operating throughout the service area. The utility also conducted inventory checks to ensure sufficient materials are available for emergencies.

As part of reliability and resiliency, the utility added more infrastructure insulation, permanent enclosures, and heat tracing to the piping systems to improve the units’ performance, as required by the Public Utility Commission of Texas (PUCT). CPS Energy also upgraded freeze protection to heating systems and insulated tanks to store the fuel oil needed to operate some units. These additional efforts are redundancy measures to improve infrastructure resilience.

CPS Energy also continues to invest in tree-trimming efforts. Trees touching lines due to freezing rains are among the most common causes of electrical service disruption in the winter. As part of the overall outage reduction efforts, CPS Energy invested $20.6 million in tree trimming for the fiscal year 2025—the highest level of investment since 2022. The utility allocated additional emergency tree-trimming funds for this winter season.

For its gas operations, the utility contacted natural gas suppliers to confirm they had also completed their weatherization efforts.

In compliance with the Electric Reliability Council of Texas (ERCOT) winter readiness efforts, CPS Energy certified that winter preparedness activities were completed by December 1, 2024. CPS Energy submitted the required Declaration of Preparedness for winter weatherization to ERCOT for the utility’s transmission systems and power plants.

CPS Energy encourages customers to update their emergency contact information by calling 210-353-2222. CPS Energy has created winter preparation pages in English at cpsenergy.com/winter and Spanish at cpsenergy.com/invierno where customers can also sign up for emergency alerts. For additional winter energy savings tips, visit cpsenergy.com/ConserveandSave .

To learn more about CPS Energy’s winter preparedness efforts, visit the presentation on winter readiness to CPS Energy’s Board of Trustees here .

This addition will bring the utility’s total battery energy storage to 400 MW under contract

August 28, 2024 (SAN ANTONIO) – CPS Energy, the largest municipally owned electric and natural gas utility in the United States, has entered into two storage capacity agreements (SCAs) with Eolian L.P. (Eolian) for a total of 350 megawatts (MW) of battery energy storage, adding to a 50 MW SCA signed with Eolian in 2023, as the utility continues the execution of its Vision 2027 generation plan.

The battery energy storage projects, called “Ferdinand” and “Padua 2”, have a storage capacity of 200 MW and 150 MW, respectively.  Both projects are located in South Bexar County, Texas and will be newly constructed and expected to be online in the first half of 2026.  Having storage resources strategically located in CPS Energy’s service territory contributes to overall grid resiliency and benefits customers.

Not including the 10 MW operational in the current portfolio, the signing of these SCAs brings CPS Energy’s total battery storage capacity under contract to 400 MW combined.

Dykema Gossett PLLC served as external legal advisor to CPS Energy in connection with the negotiation of the SCAs.

 “I am proud of the work CPS Energy has done to secure another 350 MW of generation for our growing community,” said Rudy D. Garza, President & CEO of CPS Energy. “This is another step in executing on our Vision 2027 generation plan and we are excited about the benefits it will provide to our community through both reliability and economic development.”

“Following on to the 50 MW Padua 1 project already under construction for CPS Energy, this additional 350 MW of  four-hour duration battery energy storage will provide new dispatchable capacity to the San Antonio area by mid-2026, representing the single largest buildout of standalone battery energy storage in ERCOT to date and proving that deployment of fast and flexible energy storage resources at critical grid locations can bridge the many years until new transmission can be constructed to further support load growth and alleviate systemwide congestion,” added Aaron Zubaty, CEO of Eolian. “These project locations were carefully chosen years ago to actually reduce the burden on the transmission system and enhance overall market operations by providing resiliency and reliability within load pockets and adjacent to retiring thermal generating units while reducing congestion on key transmission pathways.”

The projects are expected to help serve the energy needs of the San Antonio community for a 20-year period. As part of a related community benefits agreement, the project entities will contribute at least $175,000 each year to CPS Energy sponsored activities and scholarships within the Greater San Antonio area for a five-year period once the projects are operational.

In January 2023, the CPS Energy Board of Trustees approved a generation plan as part of the utility’s Vision 2027 plan to power the community into the future. CPS Energy has since added 1,710 MW of owned natural gas generation, 500 MW of natural gas firming capacity, an additional 84 MW of wind capacity, and contracted 730 MW of solar energy and 50 MW of storage.

About CPS Energy

Established in 1860, CPS Energy is the nation’s largest community-owned provider of electric and natural gas services.  We provide safe, reliable, and competitively priced services to 907,526 electric and 373,998 natural gas customers in San Antonio and portions of seven adjoining counties. Our customers’ combined energy bills rank among the lowest of the nation’s 20 largest cities while generating $9 billion in revenue for the City of San Antonio over the last 80 years. Our Vision 2027 strategic plan is designed to guide CPS Energy through rapid transformational change in our city.  As a trusted and reliable community partner, we continuously focus on job creation, economic development, and educational investment.  We are powered by our skilled workforce, whose commitment to the community is demonstrated through our employees’ volunteerism, our community engagement efforts and programs aimed at bringing value and assistance to our customers.

About Eolian, L.P.

Eolian, L.P. (“Eolian”) operates a growing portfolio of battery energy storage projects and develops and invests in renewable energy and clean molecule projects across the US. For over 20 years, Eolian’s founding management has worked together to build the assets at the core of the company, creating unique and proprietary structures that have directly funded the development of 26 GW of successfully operating energy storage, solar, and wind-generating capacity across the country. Eolian is owned by its employees and funds are managed by Global Infrastructure Partners (GIP), a leading infrastructure investor. For more information, follow Eolian on LinkedIn or visit www.eolianenergy.com.

REAP’s maximum benefit more than doubles; CPS Energy provides an additional $6 million towards the program.

August 26, 2024 (SAN ANTONIO) — The Board of the Residential Energy Assistance Partnership (REAP) voted unanimously to approve the expansion of the assistance program to offer more support to a greater number of CPS Energy customers to cover their bills.  The REAP maximum benefit for Bexar County residents outside San Antonio will increase from $400 to up to $1,200. Additionally, the income qualification criteria for the Federal Poverty Level (FPL) will change from 125% to 150%. This revised income qualifier will enable more customers to qualify and aligns with the change in qualifying FPL criteria made to CPS Energy’s Affordability Discount Program (ADP) earlier this year.

As part of this expansion and to increase the operation of the program, the utility will make a one-time $6 million contribution from the utility’s summer 2023 wholesale revenues.

The expansion was voted on during a special board meeting held on August 14, 2024. Bexar County and CPS Energy staff worked collaboratively to present the approved proposal to REAP board members which includes REAP Board President, Bexar County Judge Peter Sakai, President & CEO Rudy D. Garza who serves as REAP’s vice president and City of San Antonio (CoSA) Mayor Ron Nirenberg who serves as secretary/treasurer.

“Bexar County proposed changes to expand access to utility assistance. I want to thank CPS Energy and the City of San Antonio for collaborating to make this happen. We will work to ensure our most vulnerable neighbors take advantage of this program,” said Bexar County Judge and REAP’s Board President Peter Sakai.

“As part of Vision 2027, CPS Energy’s strategic plan, we are committed to supporting our community and being a good partner.  By increasing support of REAP, in partnership with the City and the County, we are providing additional resources to those most in need,” said Rudy D. Garza.

“The expansion strengthens our community’s safety net by ensuring that more CPS Energy customers have access to assistance with their utility bills,” said Mayor Ron Nirenberg. “REAP helps customers in unstable economic situations make ends meet, easing financial pressures and reducing the risk of crisis. These clearly merited changes will boost the entire community.”

REAP is a non-profit established in 2002 through a partnership between CPS Energy, the City of San Antonio, and Bexar County. CPS Energy contributes $1 million annually directly to the REAP fund and works throughout the year to raise additional funds for the program. CPS Energy handles the program’s marketing, fundraising, and back-office administrative requirements. The City of San Antonio and Bexar County manage the application process. This program is one of CPS Energy’s commitments to provide help to pay energy bills for customers who qualify for assistance. Through REAP, qualified customers receive a credit on their CPS Energy bill and receive information about weatherization, low-cost to no-cost energy efficiency programs, senior citizen aid, and critical care assistance.

For more information about REAP and how to apply, visit here.

SAN ANTONIO, Texas, May 6, 2024 – CPS Energy has entered into an agreement to acquire an additional 2% ownership of the South Texas Nuclear Project (STP) from Constellation. When the transaction closes, it will bring CPS Energy’s ownership of STP to 42%, Constellation’s to 42%, and Austin Energy’s ownership will remain at 16%. Additionally, CPS Energy entered into a long-term Purchase Power Agreement (PPA) with Constellation for an additional 200 megawatts (MW) of firm capacity that will be available for CPS Energy customers in time for this summer.

On May 2, 2024, CPS Energy, Austin Energy, NRG, and Constellation resolved their disputes regarding the proposed sale of an interest in the South Texas Nuclear Project (STP) by NRG to Constellation South Texas LLC and the related rights of first refusal of CPS Energy and Austin Energy. As part of this resolution, CPS Energy and Austin Energy will dismiss their pending litigation against NRG and Constellation and will withdraw their objections previously filed with the Nuclear Regulatory Commission.

“The addition of these megawatts to our system supports reliability for our customers as we enter another summer season,” said Rudy D. Garza, President and CEO of CPS Energy. “CPS Energy continues to stay focused on our Vision 2027 plan and will continue our focus on reliability for our growing community.”

The additional 2% ownership of STP for CPS Energy will equate to an additional 52 MW of carbon free dispatchable generation to the portfolio and supports CPS Energy’s Vision 2027 plan that contemplates the retirement of 2,249 MW of older generation capacity before 2030. To date, CPS Energy has added 1,710 MW of natural gas, 730 MW of solar energy and 50 MW of energy storage as part of its generation plan, with an additional 500 MW energy storage RFP in the works. These efforts also align with CPS Energy’s commitment to the City of San Antonio’s Climate Action & Adaptation Plan (CAAP), which includes a Board of Trustees resolution to support the CAAP’s goal to become carbon neutral by 2050, and the interim goals of reducing greenhouse gas emissions by 41% from 2016 levels and 71% by 2040.

AN ANTONIO, Texas, May 1, 2024 –Today, CPS Energy announced the closing on the acquisition of Talen Energy Corporation’s (“Talen”) (OTCQX: TLNE) approximately 1,710-megawatt (“MW”) generation portfolio located in the South Zone of the Electric Reliability Council of Texas (“ERCOT”) market for $785 million, subject to customary net working capital adjustments. These assets include natural gas plants in Corpus Christi and Laredo, Texas. CPS Energy and Talen previously announced the transaction on March 27, 2024.

Under the terms of the agreement CPS Energy has acquired all assets associated with the 897 MW Barney Davis and 635 MW Nueces Bay natural gas-fired generation facilities, both located in Corpus Christi, Texas, as well as its 178 MW natural gas-fired generation facility in Laredo, Texas.

This action supports CPS Energy’s generation plan, approved in 2023 by its Board of Trustees, to power the greater San Antonio community into the future by securing an additional 1,710 MWs that are available immediately. The addition of these units aligns with the generation plan, which includes the retirement of older coal and gas units and the addition of a blend of more efficient gas generation along with solar, wind, and energy storage.

“This step marks CPS Energy’s growing role as a regional energy utility, providing additional resiliency and reliability for our customers,” said Rudy D. Garza, President and CEO of CPS Energy. “This acquisition adds critical capacity to our generation portfolio to continue to reliably serve one of the fastest-growing regions in the nation. Our customers will benefit from these investments for decades to come.”

Talen President and Chief Executive Officer Mac McFarland said, “We are pleased to have completed our strategic transaction with CPS Energy. This transaction demonstrates our continued commitment to unlocking significant value for Talen, while also taking care of our people. We are pleased that these assets will support CPS Energy’s efforts to provide reliable and cost-effective power generation through its diverse portfolio to its growing community.”

CPS Energy’s Vision 2027 plan includes its generation plan that contemplates the retirement of 2,249 MW of older and inefficient dispatchable generation capacity before 2030. CPS Energy has added 730 MW of solar energy and 50 MW of energy storage to date as part of its generation plan, with an additional 500 MW energy storage RFP in the works. With the addition of these facilities, environmental emissions will stay on track to meet the City of San Antonio’s Climate Action and Adaptation Plan emissions reduction commitment by 2030. In addition, it provides CPS Energy the flexibility to add more renewable energy and storage with this benefit of firming capacity (power that is available as needed) in place.

The plants in Corpus Christi and Laredo are expected to be operational for the next 25 years. There are a combined total of 66 operations employees at these sites, and they all have retained employment with CPS Energy.

J.P. Morgan acted as exclusive financial advisor and Dykema Gossett PLLC acted as legal advisor to CPS Energy with respect to the Transaction. RBC Capital Markets, LLC serves as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor for Talen.

Did you know that CPS Energy has been working towards making San Antonio a greener and more sustainable city?

For over 20 years, we have contributed towards this goal through our tree donation program, and we are proud to say that we have donated over 30,000 trees to the local community so far!

We are dedicated to planting more trees and have recently partnered to expand the tree canopy in the new Civic Hemisfair Park by sponsoring and rescuing six trees at risk of being cut down and transferring them to this city park.

These six trees have a significant impact on the environment as they help remove about 18 tons of carbon dioxide (CO2), prevent 264 pounds of pollutants, and cut stormwater runoff by 63,017 gallons over the lifetime of the tree.

Some of the CPS Energy-sponsored trees are along the promenade.

So, what’s the benefit of trees besides cleaning the air we breathe?

• Trees offer shade, lower temperatures, and save energy for businesses, homes, and the community.
• Depending on where a tree is planted, a household can reduce energy use by up to 25%, boost the property value of the home, and improve the environment.
• Urban trees can decrease peak summer temperatures by 2–9°F through shading and moisture retention.

At CPS Energy, we believe in encouraging sustainable choices. That’s why we’re encouraging our customers to take advantage of the Green Shade Tree Rebate. By purchasing a qualified tree before April 30, 2024, you can earn a $50 rebate while also contributing to a greener San Antonio.

Beyond our efforts to expand the tree canopy, we’ve been making changes to how we operate our power plants to reduce emissions.

• For example, since 1997, CPS Energy has reduced NOx emissions, which contribute to smog, by over 75 percent.
• Cut sulfur dioxide (S02) emissions by over 98 percent.
• CPS Energy has also reduced its CO2 intensity by 57% since the 1980s, meaning less CO2 is released for every megawatt sent out to homes and businesses.

We are also supporting the city’s efforts toward carbon neutrality by 2050 by growing solar,  wind and exploring other new energy technologies for a more diverse and greener power generation mix to keep the lights on.

CPS Energy’s work in growing solar energy with the community has also paid off. San Antonio is  number one in Texas and fifth across the nation for solar energy generation capacity.

In addition, CPS Energy’s Sustainable Tomorrow Energy Plan (STEP) expands on the first phase of programs by making more community solar available, especially accessible for low-to -moderate income customers who may not be able to own rooftop solar panels and still reap the benefits of renewable energy.

STEP also offers customers over 20 energy conservation and energy efficiency programs that save enough power to avoid the need to build a small power plant and cut down on 1.85 million tons of carbon.

We’re committed to providing sustainable energy services for the community, and we’re proud to say that we’ve received recognition from Texan by Nature for our conservation efforts. At CPS Energy, we believe in celebrating Earth Day every day by keeping the power on in a more environmentally friendly way.

April 22, 2024 (San Antonio, TX) — The CPS Energy Board of Trustees voted to approve a contract selecting Oracle America, Inc. as the vendor for the utility’s new Enterprise Resource Planning (ERP) platform.  This announcement marks a milestone in CPS Energy’s efforts to modernize its 20-year-old business operating system with Oracle’s integrated utility platform. The approved contract for the software is valued at $70 million and serves as another step in achieving the utility’s promise to invest in critical areas with funds from the recently approved rate increase.

“We are excited to accelerate our digital transformation journey,” said Rudy D. Garza, President & CEO of CPS Energy. “This pivotal step begins the process to revolutionize our internal operations and most importantly, continues our path to provide our customers with more options for how they use our services and do business with us.”

Laying this foundation over the next few years will enable more personalized experiences with customers, expand customer self-service and payment options, and meet community commitments for bill and rate redesign.

CPS Energy will streamline its operations by using Oracle’s utility software to integrate real-time data from finance, supply chain, human resources, administrative, and customer service into a single platform. This technology will create more visibility across all the utility’s divisions, resulting in better analytics, improved operational efficiencies, and more resilient and reliable technology.

“CPS Energy was looking for a proven technology partner to modernize its business and deliver the best possible outcomes for its customers, employees, and communities,” said Safra Catz, CEO of Oracle. “The combination of Oracle’s vertical industry solutions and Fusion Cloud Applications, all running on our secure Oracle Cloud Infrastructure (OCI), will provide CPS Energy with the performance, intelligence, and insights required to drive transformation at scale and generate winning results at every level of the business.”

In addition, CPS Energy’s crews will benefit from the newest field service management tools that will help auto-schedule and dispatch workers faster throughout the service area and improve service restoration times. Oracle’s software will also allow the utility to better track, visualize, and analyze the performance of its assets and maximize the return on investment of capital projects.

The utility’s outdated software infrastructure will be replaced and funded by the 4.25% rate increase that went into effect on February 1, 2024, following community input and approval by the Board of Trustees and San Antonio’s City Council. Beyond the investment in technology, CPS Energy’s rate increase will cover costs to upgrade aging physical infrastructure, invest in more system reliability, physical and cyber security as well as workforce planning.

To learn more about the utility’s ERP transformation program, click here. To learn more about CPS Energy’s Vision 2027, click here.

April 19, 2024 (San Antonio, TX) – CPS Energy announced today that they are the recipient of a $2.45 million grant aimed at replacing aging local gas infrastructure from the Department of Transportation (DOT) and the Pipeline and Hazardous Materials Safety Administration (PHMSA). Under the PHMSA umbrella is the first ever Natural Gas Distribution Infrastructure Safety and Modernization (NGDISM) grant program. Funding under this program exclusively helps municipally owned local distribution gas utilities upgrade or replace portions of their pipeline systems. In 2023, CPS Energy applied for funding to replace over five miles of steel gas pipeline in the western portion of the city.

 “CPS Energy is proud to receive this grant from the Department of Transportation,” said Rudy D. Garza, President & CEO of CPS Energy. “We are committed to upgrading infrastructure for our community which will help us continue to serve them with the reliable and safe service they expect from CPS Energy.”

The Infrastructure Investment and Jobs Act (IIJA) was passed by Congress in November 2021, providing commitment for the most significant investment in the country’s infrastructure in more than 50 years. The NGDISM plans to award up to $200 million for each fiscal year from 2022-2026. Objectives from this grant include:

• Improve safety of natural gas systems
• Protect environment and reduce climate impacts
• Benefit underserved and/or disadvantaged communities
• Provide economic impact and growth
• Create and sustain good-paying infrastructure-related jobs

“This first-of-its-kind infrastructure grant program helps modernize older, higher risk, leaky pipes–improving safety, reducing environmental impacts, and saving consumers money on their energy bills” said PHMSA Deputy Administrator Tristan Brown. “These new investments from the President’s Bipartisan Infrastructure Law will also help create hundreds of good-paying pipeline jobs.”

“This grant will provide welcome assistance to help ensure safety and guard our environment by upgrading CPS Energy’s natural gas pipeline infrastructure. Keeping the utility’s infrastructure in good condition is a crucial part of protecting our community and maintaining an efficient distribution system,” said Mayor Ron Nirenberg.

Infrastructure that will be replaced as part of this grant is located on the west side of town in a community with 50% of households in that community having incomes below 60% of the area’s median incomes, or poverty rates of 25% or more. The infrastructure being replaced is part of CPS Energy’s efforts to modernize gas infrastructure in need of upgrades. The project will improve safety, performance and reliability of the utility’s gas system and is expected to be completed by the end of this year.

SAN ANTONIO, Texas –Today, CPS Energy and Talen Energy Corporation (“Talen”) (OTCQX: TLNE) announced an agreement for CPS Energy to acquire Talen’s approximately 1,710-megawatt (“MW”) generation portfolio located in the South Zone of the Electric Reliability Council of Texas (“ERCOT”) market for $785 million subject to customary net working capital adjustments at closing. These assets include natural gas plants in Corpus Christi and Laredo. The transaction is expected to close in the second quarter of 2024.

Under the terms of the agreement, which is subject to customary closing conditions, CPS Energy will acquire all assets associated with Talen’s 897 MW Barney Davis and 635 MW Nueces Bay natural gas-fired generation facilities, both located in Corpus Christi, Tex., as well as its 178 MW natural gas-fired generation facility in Laredo, Tex.

This action supports CPS Energy’s generation plan, approved in 2023 by its Board of Trustees. It secures an additional 1,710 MWs of power for the greater San Antonio community and will be available as soon as this summer. The addition of these units aligns with the generation plan, which includes the retirement of older units and the addition of a blend of gas, solar, wind, and energy storage.

“The purchase of these assets furthers CPS Energy’s commitment to deliver reliable and affordable energy supply to one of the nation’s fastest growing communities, while also balancing our commitment to reduce carbon emissions by 2030,” said Rudy D. Garza, President & CEO of CPS Energy. “The investments we are making to purchase and improve the performance of these plants provide cost benefits when compared to building new assets, which means reliability now at a lower price for our community. In addition to these facilities, as our community continues to grow, we are also adding low and zero-carbon resources as well as energy storage to enable that additional growth.”

Talen President and Chief Executive Officer Mac McFarland said, “This transaction demonstrates our continued commitment to unlocking significant value for Talen, while also taking care of our people. We are happy that these assets will assist CPS Energy in its long-term strategy to serve its growing community with reliable and cost-effective power generation.”

CPS Energy’s Vision 2027 plan includes its generation plan that contemplates the retirement of 2,249 MW of older and inefficient dispatchable generation capacity before 2030. CPS Energy has added 730 MW of solar energy and 50 MW of energy storage to date as part of its generation plan, with an additional 500 MW energy storage RFP in the works. With the addition of these facilities, environmental emissions will stay on track to meet the City of San Antonio’s Climate Action and Adaptation Plan emissions reduction commitment by 2030. In addition, it provides CPS Energy the flexibility to add more renewable energy and storage with this benefit of firming capacity (power that is available as needed) in place.

The plants in Corpus Christi and Laredo are expected to be operational for the next 25 years. There are a combined total of approximately 65 operations employees at these sites, and they will have an opportunity to become CPS Energy employees at the closing of the acquisition.

J.P. Morgan is acting as exclusive financial advisor and Dykema Gossett PLLC is acting as legal advisor to CPS Energy with respect to the Transaction. RBC Capital Markets, LLC is serving as exclusive financial advisor and Kirkland & Ellis LLP is serving as legal advisor for Talen.

March 13, 2024 (San Antonio, TX) – Congressman Joaquin Castro (TX-20) announced that his office has secured $10.6 million through the Fiscal Year 2024 federal appropriations process to support thirteen San Antonio community projects, including $1 million for CPS Energy’s Casa Verde Weatherization Program.  The additional funding will expand the reach and impact of Casa Verde, the utility’s energy efficiency program that provides energy-saving upgrades for limited-income residents in San Antonio. This new funding is part of the Community Development Block Grant (CDBG) and will provide home repairs for 500 homes which will make them eligible for weatherization.

“This program has changed the lives of many CPS Energy customers, especially during our extremely hot summers and during the coldest days in winter,” said President and CEO of CPS Energy, Rudy D. Garza. “I would like to express my gratitude to all of the elected officials at the local, state and federal levels who have worked with us to grow these community initiatives. I extend a special thanks to Congressman Castro for his consistent contributions to these efforts.”

“The CPS Energy Casa Verde Weatherization Program is a great example of how smart infrastructure investments can protect the environment and uplift San Antonio families,” said Congressman Joaquin Castro. “Every year, I’m glad to nominate community projects from across San Antonio for well-deserved federal funding to expand their work. The Casa Verde program has a great track record of helping families save on their energy bills while improving energy efficiency, and I was glad to work with CPS Energy to get $1,000,000 in this year’s appropriations package to serve more homeowners across our city.”

Although many residents qualify for the Casa Verde program currently, CPS Energy must unfortunately deny approximately 47% of these applications due to the homes needing additional repairs beyond the scope of the current program (plumbing, electrical, foundation, active roof leaks). In many cases, these additional repairs can be done for under $1,000. With the additional assistance from the grant, more homes will now qualify for the Casa Verde Weatherization Program.

The Casa Verde funding is included in the HR 4366, the Consolidated Appropriations Act, which last week was passed through both houses of Congress and signed by President Biden. CPS Energy submitted the grant application as part of its Vision 2027 strategic plan, which includes the pursuit of grants and other new revenue sources.

The Casa Verde Weatherization Program helps income-qualifying homeowners and renters reduce energy loss and costs with free energy efficiency improvements. CPS Energy plans to invest $82.5 million in Casa Verde to weatherize up to 16,000 homes. Last year, CPS Energy’s Casa Verde celebrated the weatherization of 30,000 homes throughout the San Antonio community .

Casa Verde is part of CPS Energy’s Sustainable Tomorrow Energy Plan (STEP). The STEP program’s goals include 410 megawatts (MW) of energy demand reduction over 5 years with equitable programs designed to help customers save energy and money, 1% energy savings per year systemwide, and 1.85 million tons of avoided carbon. STEP’s award-winning energy efficiency and conservation programs received approval in 2022 for $350 million in funding over five years from the CPS Energy Board of Trustees and San Antonio City Council. This plan includes community solar and multifamily weatherization for low-to-moderate income customers; energy storage; electric vehicle (EV) charging; educational curriculum to promote behavioral changes toward energy conservation; demand response in the form of technology like smart thermostats both in homes and businesses; and support for the commercial sector to become more efficient through traditional energy efficiency rebates and other new programs.

Energy efficiency measures are beneficial for the community and environment as reduced electricity consumption leads to lower greenhouse gas emissions and improved air quality, among other advantages. Energy efficiency is also a critical community contribution to enhance grid reliability in Texas by lowering the demand for megawatts during critical periods.

Casa Verde participants receive:

• An average of $4,500 in free home weatherization improvements, saving approximately $450 a year in energy costs.
• Energy assessments of their homes to determine what improvements will have the greatest impact on energy savings.
• Energy-saving measures may include attic insulation, wall insulation, solar screens, air-sealing measures, replacement of incandescent light bulbs with LEDs, and duct sealing in addition to some health and safety measures.

CPS Energy customers interested in applying for Casa Verde can do so by filling out the application forms in English or Spanish here. To learn more about the Casa Verde program customers can call 210-353-CASA (2272), email CasaVerdeSA@cpsenergy.com, or visit our website at cpsenergy.com/casaverde and cpsenergy.com/casaverde-programa.

CPS Energy is committed to decarbonizing our operations and transitioning to cleaner energy to ensure climate resiliency. In respect to today’s Supreme Court ruling, we are reviewing the ruling and its potential impacts. The City of San Antonio has set climate goals for our community through its Climate Action & Adaptation Plan (CAAP) adopted in 2019, and we at CPS Energy are continuing to work to meet our community’s expectations to achieve the CAAP’s objectives.

Key Recent Actions at CPS Energy:

• CPS Energy closed its oldest coal units in 2018, and publicly released a Flexible Path Resource Plan, which details future closures of aging natural gas units and options for closing the final two remaining coal units.

• To decrease emissions further, we are reviewing submissions from a global request for proposals to add up to 900 megawatts (MW) of solar energy, 50 MW of battery storage and 500 MW of firming capacity. The addition of these renewable sources will further strengthen CPS Energy’s positions as the largest producer of solar energy in the state and a leader in wind production with our current combined generation of 1,600 MW of wind and solar energy.

• In late May 2022, CPS Energy reached an agreement with Consolidated Edison Development, Inc., a subsidiary of Con Edison Clean Energy Businesses, Inc., for a 300 megawatt (MW) solar project as the first part of its FlexPOWER BundleSM initiative. The selection marks one-third of the utility’s goal of adding up to 900 MW of clean, sustainable energy to its power generation mix, and will further strengthen San Antonio’s national top five Solar Superstar ranking.

• We continue to partner with new technology partners. CPS Energy and Quidnet Energy recently announced a landmark agreement to pilot a long-duration energy storage project.

• We are doing our part to reduce vehicle emissions by adopting electric vehicles (EV) in our fleet and supporting the community’s adoption of EVs through a network of public charging stations in our service area and an EV website that helps individuals as they make the decision to go electric.

• Discussions are currently underway with our Rate Advisory Committee (RAC) on our generation planning. As CPS Energy remains committed to providing reliable and affordable power, the RAC will make a recommendation for the Board of Trustees to consider.

• These efforts align with our Board’s commitment to the city’s Climate Action & Adaptation Plan (CAAP), which includes a resolution to support the CAAP’s goal to become carbon neutral by 2050, and the interim targets of reducing greenhouse gas emissions 41% from 2016 levels and 71% by 2040. The steps we’re taking in our stewardship are captured in our Environmental Sustainability, Community Impact & Financial Highlights Report here.