Over the past year, CPS Energy has maintained aggressive procurement targets to ensure that our company remains vigilant in providing contract opportunities to the local, small, and diverse businesses within our community. Over the course of Fiscal Year 2024, CPS Energy has invested more than $1 billion dollars via contracted goods and services with more than $750 million (75%) of that spend paid to vendors located here in the San Antonio Metropolitan Statistical Area. This represents a 29% increase over the same period in FY2023!
In this same timeframe, CPS Energy has spent nearly $487 million dollars with diverse firms: those identifying as Small, Minority, Women or Veteran-owned. This figure represents a more than 42% increase when compared to the same spend thru our FY2023. Likewise, more than $157 million dollars has been spent with Minority – owned businesses representing a 48% increase in FY2024 when compared to the same timeframe in FY2023.
As is demonstrated in the dramatic increase in spend among Minority-owned firms, CPS Energy has adopted an aggressive strategy to promote and encourage participation in our procurement process among diverse vendors. In FY2024 alone, our Supply Chain team attended nearly 180 separate events to engage our suppliers and ensure their participation in the procurement process. We continue to leverage strategic partnerships such as those with the Small Business Development Center, the Procurement Technical Assistance Center and LULAC to speak directly to small business owners concerning supplier registration and procurement needs.
As we progress into FY2025, CPS Energy remains committed to working with Congressman Joaquin Castro’s office, thru its SupplySA Initiative, as we collaborate with our peer agencies to better identify the availability of diverse suppliers in our service area. Further, we will continue to identify contracts that may be debundled, building on FY2024’s benchmark of 73 contract opportunities valued at $856 million dollars being awarded to 193 unique suppliers. CPS Energy’s Supply Chain team remains committed to engaging our local, small, and diverse vendors through targeted outreach, to ensure contract opportunities are made available to all seeking to do business with our organization and contribute to the success of our community.