From March, CPS Energy customers will pay more for their electricity and natural gas, after the city council approved a rate hike this month. But the extra expense is likely to increase from there.
The 3.85% rate increase includes a fee of $1.26 per month – for the next 25 years – to pay for $418 million in electricity and gas that CPS purchased at exorbitant market prices Texas spot during the winter storm nearly a year ago.
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