CPS Energy Makes Change To Rate Hike Distribution

May 8, 2008

SAN ANTONIO -- CPS Energy officials announced a change to the distribution format the company would use if its proposed rate hike is approved by City Council next week.

In a joint press conference with Mayor Phil Hardberger, the company announced Thursday that it was abandoning its previously proposed plan of using 5 percent of funds from a possible rate increase toward nuclear energy research for the time being.

Instead, company officials said, CPS Energy will devote the estimated $10 million from the rate increase to its energy efficiency program. If the rate hike is approved, the money would allow research into energy conservation and the development of sustainable energy sources such as solar and wind power, officials said.

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