Electricity bills are at an all-time high, and many CPS Energy customers are beginning to see the difference on their bills. Prices jumped up more than 50% in June alone.
Energy usage has soared due to record-breaking heat. Usage and high temperatures alone do not account for the increase in electricity prices. Rate hikes that were voted on in January of this year have contributed to the price increase. They went into effect in March. Rising costs of natural gas are also a factor.
Turning on the air conditioning isn’t just for comfort, but for many in Texas, it’s survival. Lower-income families tend to struggle themost to keep up with their energy bills.
Customers are also still paying a nominal charge for each bill to offset the cost of fuel charges during the winter storm last year.
To help understand your electric bill, CPS has provided several resources. Customers who have fallen into arrears are also able to request assistance.
What conservation measures are needed until the heat dissipates? Are there ways to lower your energy bill? What assistance is available?
Guests:
- Christen Waggoner, interim Vice President of Customer Experience Operations at CPS Energy
- Cory Kuchinsky, CPA, CFO of CPS Energy
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*This interview was recorded on Monday, August 1.