Today, the number of customers in arrears is down to 140,000, but the total amount due is up to $160 million. Story by LindseyGCarnett.
Scott Ball / San Antonio ReportBy this fall, CPS Energy will have distributed the entire $20 million the City of San Antonio gave the utility from its pot of federal coronavirus relief funds to help customers behind on their bills, utility officials said this week.
That’s due in part to CPS Energy’s policy of suspending disconnections for past due bills, which it generally does over holidays and during extreme weatherWhen the pandemic hit, CPS Energy suspended disconnections for more than a year, as the coronavirus wreaked havoc on residents’ lives and finances. When the utility finally startedof 2021, 162,000 customers had racked up close to $130 million in outstanding balances.
Staff was responding to criticism from trustee John Steen during Monday’s board meeting. Steen said he is concerned that the utility’s bad debt has continued to rise and now represents about 20% of the utility’s customers.Debt was one of several key financial measures Steen said he finds concerning: cash on hand, debt service coverage and the utility’s debt-to-capital ratio.
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