CPS Energy
From Wikipedia, the free encyclopedia
| CPS Energy | |
|---|---|
 |
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| Type | Municipal corporation |
| Founded | 1942[1] |
| Headquarters | San Antonio, Texas |
| Key people | Milton B. Lee (CEO), Aurora Geis (Chair, of Board of Trustees) |
| Industry | Energy |
| Products | Electricity and Natural Gas |
| Revenue | ▲$1.75 billion USD (2006)[2] |
| Employees | 3,884 (2006)[2] |
| Website | www.cpsenergy.com |
'CPS Energy of San Antonio, Texas (formerly City Public Service) is the USA's largest municipally owned utility with combined natural gas and electric service. Fourteen percent of all utility revenues are returned to the City of San Antonio, and those revenues make up about 20 percent of the City of San Antonio's annual operating budget. Acquired by the City in 1942, CPS Energy serves over 677,000 electricity customers and more than 318,000 natural gas customers in its 1,566-square-mile service area, which includes Bexar County and portions of 7 surrounding counties.[3]
CPS Energy is part-owner (40% share) of the South Texas Project.
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[edit] History
- 1917 - San Antonio Public Service Company formed; owned by American Light and Traction
- 1942 - City purchases SAPSCo for $34 million[4]
[edit] Governing Structure
CPS Energy is governed by a five member Board of Trustees. The Mayor of San Antonio serves as an ex-officio member, for as long as s/he is the Mayor. The other four members represent the four geographical quadrants of the City, and must reside within the quadrant they represent. They are nominated by the remaining trustees, for a five-year term with eligibility to serve one additional term. The nominations must be approved by majority vote of the San Antonio City Council.
In addition, a 15-member Citizens Advisory Committee serves as a liaison between CPS Energy and the citizens of San Antonio. Ten of the members are nominated by the 10 City Council members, while the remaining five are chosen from applicants who are interviewed by the Board. The Board approves all 15 members, who must reside in the CPS Energy service territory and be customers of CPS Energy as well.
[edit] See also
[edit] References
- ^ CPS Energy - About Us. Retrieved on 2006-09-06.
- ^ a b 2005-06 Financial Summary. Retrieved on 2006-09-06.
- ^ CPS Energy - Careers. Retrieved on 2006-09-06.
- ^ CPS Energy - History. Retrieved on 2006-09-06.
