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CPS Energy named Chief Operating Officer Frank Almaraz as the interim head of the utility on Thursday during a special meeting.
Earlier this week, former president and CEO Rudy Garza announced his retirement from CPS Energy while the Lower Colorado River Authority in Austin announced that Garza would become their next general manager.
Almaraz’s appointment takes effect immediately, and Garza will stay on until June 30 to help with the transition. Garza will start at the LCRA in July.
As chief operating officer, Almaraz oversees the supply and delivery teams for electricity and natural gas, according to CPS Energy’s investors website.
“Our team is committed to continuing on the strategic path laid out by the Board over the past several years,” said Almaraz. “The demand for reliable, affordable energy continues to grow in our community, and we will remain focused on ensuring our teams work safely to provide the service our customers need.”
This is Almaraz's second time working for the utility. He rejoined it earlier this year as COO before previously serving in several roles including chief power, sustainability, and business development officer from 2011 to 2022. He briefly served as CEO of Braya Renewable Fuels and interim president and CEO of Young Brothers, a Hawaii based freight transportation company.
“Frank has strong analytical, financial, and operational skills with deep experience leading teams to success including frontline employees,” said Dr. Francine Romero, chair of the board of trustees. “We are confident that Frank, along with the established leadership team, will continue their focus on executing our strategies.”
A news release indicated that a national search would be conducted for a permanent replacement. It was not immediately clear if Almaraz plans to apply for the position.
CPS Energy is the municipally owned electricity utility for San Antonio and Bexar County and is the only option available to residents in its service area. Other markets, such as Houston, allow residents to choose their retail electricity providers.
CPS Energy has about 900,000 residential and commercial customers. A portion of the revenue that it collects goes into the general fund of the City of San Antonio.
Disclosure: CPS Energy is a TPR sponsor. We cover them as we would any other business or organization.
