SAN
ANTONIO, May 6, 2024 /PRNewswire/ -- CPS Energy has
entered into an agreement to acquire an additional 2% ownership of
the South Texas Nuclear Project (STP) from Constellation. When the
transaction closes, it will bring CPS Energy's ownership of STP to
42%, Constellation's to 42%, and Austin Energy's ownership will
remain at 16%. Additionally, CPS Energy entered into a long-term
Purchase Power Agreement (PPA) with Constellation for an additional
200 megawatts (MW) of firm capacity that will be available for CPS
Energy customers in time for this summer.
On May 2, 2024, CPS Energy, Austin
Energy, NRG, and Constellation resolved their disputes regarding
the proposed sale of an interest in the South Texas Nuclear Project
(STP) by NRG to Constellation South Texas LLC and the related
rights of first refusal of CPS Energy and Austin Energy. As part of
this resolution, CPS Energy and Austin Energy will dismiss their
pending litigation against NRG and Constellation and will withdraw
their objections previously filed with the Nuclear Regulatory
Commission.
"The addition of these megawatts to our system supports
reliability for our customers as we enter another summer season,"
said Rudy D. Garza, President and
CEO of CPS Energy. "CPS Energy continues to stay focused on our
Vision 2027 plan and will continue our focus on reliability for our
growing community."
The additional 2% ownership of STP for CPS Energy will equate to
an additional 52 MW of carbon free dispatchable generation to the
portfolio and supports CPS Energy's Vision 2027 plan that
contemplates the retirement of 2,249 MW of older generation
capacity before 2030. To date, CPS Energy has added 1,710 MW of
natural gas, 730 MW of solar energy and 50 MW of energy storage as
part of its generation plan, with an additional 500 MW energy
storage RFP in the works. These efforts also align with CPS
Energy's commitment to the City of San
Antonio's Climate Action & Adaptation Plan (CAAP), which
includes a Board of Trustees resolution to support the CAAP's goal
to become carbon neutral by 2050, and the interim goals of reducing
greenhouse gas emissions by 41% from 2016 levels and 71% by
2040.
About CPS Energy
Established in 1860, CPS Energy is
the nation's largest public power, natural gas, and electric
company, providing safe, reliable, and competitively priced service
to more than 930,114 electric and 381,379 natural gas customers in
San Antonio and portions of seven
adjoining counties. Our customers' combined energy bills rank among
the lowest of the nation's 20 largest cities – while generating
$9 billion in revenue for the
City of San Antonio for 80 years.
As a trusted and strong community partner, we continuously focus on
job creation, economic development, and educational investment. We
are powered by our skilled workforce, whose commitment to the
community is demonstrated through our employees' volunteerism in
giving back to our city and programs aimed at bringing value to our
customers. CPS Energy is among the top public power wind energy
buyers in the nation and San
Antonio is number one in Texas for solar generation.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/cps-energy-enters-into-agreement-for-additional-ownership-of-the-south-texas-nuclear-project-and-adds-200-megawatts-of-capacity-for-growing-san-antonio-community-302136413.html
SOURCE CPS Energy