CPS Energy is assuring residents behind on payments they will not be disconnected during the approaching cold weather this week.
CPS Energy assures customers that even if they are behind on payment they will not face service disconnection during this week's approaching cold snap.With the winter’s first major cold snap expected to move into San Antonio early this weekend, CPS Energy is assuring residents behind on payments they will not be disconnected during any bouts of extreme winter weather — despite the utility’s growing financial concerns.
The biggest concern with the persistent debt is that it risks the utility’s good credit ratings, said Chad Hoopingarner, the utility’s vice president of financial planning. CPS Energy is regularly assessed by the three major credit rating agencies, which measure the risk associated with lending to an entity such as CPS Energy. These ratings help determine interest rates on the utility’s debt.
“What they’re hearing from us is not new — they’re hearing it from every utility across the country,” he said. Following Monday’s board meeting, Ethridge told reporters the utility is running on a 27% reserve margin — meaning it has the ability to provide much more energy than the expected demand is for this weekend’s weather.
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