Robert Werner is mayor of Shavano Park. When he and his wife arrived there 30 years ago, the community had just 900 residents. He says, “We’ve experienced 400 percent growth since then and you all were here every single day as we built out all of the new homes, all the new businesses. When we need you, you are here whether it’s for infrastructure, emergencies, or gathering together as a community. That doesn’t happen in a lot of other communities.”
As Shavano Park grew, so did we. Your public power company is now a more than $2.6 billion revenue company with $11 billion in assets. Like you, we manage our budget to afford the necessary things today and prepare for the future.
Last year, we refinanced some of our debt, resulting in about $2.1 million in gross savings. Combined with similar moves since 1985, we have saved $938 million through refinancing transactions.
The nation’s three top credit rating agencies have all given us top-tier, double-A credit plus (AA+/Aa1) ratings. One of the agencies, Moody’s, attributes its decisions to our “sound environmental policies; competitive retail rates; a competitive, reliable and diverse power supply; conservative financial record, including strong liquidity; and the sound debt structure and risk management program.”
Newly married and upcoming executive Jenna Saucedo-Herrera loved leading the economic development and communications area of our company. Passionate about helping her hometown do and become more, she decided to join the San Antonio Economic Development Foundation (SAEDF), becoming the youngest leader in the organization's history. She shares our dream of adding and keeping an abundance of good-paying jobs for you to live out yours.
Together, with Jenna’s SAEDF team and economic development partners, San Antonio attracted companies like Hulu, TJX, Ernst & Young and others to bring operations and offices here in 2017 that resulted in over 5,200 new jobs and $355 million in capital investment. We also engage companies to ‘open up shop’ with a commitment towards innovation and clean energy. Since the initiative's inception in 2013, our New Energy Economy partners have provided an average of more than 600 jobs annually, resulting in a cumulative local economic impact of more than $5 billion.
Woven along with big business is the fabric of our community - homegrown mom and pop shops, young entrepreneurs, and people filling a niche of that special salon service, doggie daycare or offering you a cup of joe made with love.
“When I thought about the coffee house, it was important to me that it offered a sense of community. I wanted to create a space where students, entrepreneurs and families could collaborate. Getting here wasn’t easy, but with CPS Energy’s help, I was able to breathe new life into a vacant home,” said Jose Ramon Campos, owner of CommonWealth Coffeehouse and Bakery.
Small business owners power our economy. We work closely with everyone who has the tenacity to be their own boss. The Fair Contracting Coalition endorsed our efforts to support small, minority, women and veteran-owned businesses by presenting us with their Transparency/Accountability Award in January 2018.
Just like Jose Campos, Dawn Fosdick dreams of transformation. The executive director of Christian Assistance Ministry is a leader in the efforts to make McCullough Avenue a vibrant destination. As a member of the McCullough Avenue Consortium, we can see Dawn’s vision and look forward to the day in 2020 when our future corporate headquarters will offer a place for the community to gather along with retail space for various daily needs.
Dawn and others interested in enjoying McCullough Avenue and the Broadway corridor are anxiously watching the formerly-leased AT&T towers being renovated into a site where 1,200 of us will be co-located to more effectively and efficiently serve you.
In June 2017, we hired Sundt Construction to serve as the Construction Manager at Risk and approved a guaranteed maximum price of $145 million for the renovation. The agreement guarantees the maximum price for construction will not exceed that price, without additional changes to the project, effectively managing the budget.
The City Of Boerne is strategically planning for growth in its Hill Country community. Economic development in any area often hinges on reliable and affordable energy. Boerne recently extended its wholesale contract for power with us.
Through similar power partnerships, we help economic development and family dreams come to life in the communities of Hondo, Castroville, Seguin, Boerne, Floresville and Kerrville. As Greater San Antonio and the boundaries of surrounding areas grow, we are happy to be your power provider in these communities as well as the Central Texas Electric Cooperative.
You know the little sticker you have in the corner of your front windshield? Sometimes it’s inconvenient to take time out of your schedule to get the new one.
When the State of Texas changed its rules for registration and inspection of fleet vehicles, we embraced it and developed our own in-house two step, one sticker program. Printing our own registration stickers, we now perform inspections of our own company vehicles.
Developing an in-house system means our vehicles are always available so we can get to you and provide service when needed. Other public entities in the state are checking us out to see how they can make this system work for their fleets.
One of the consistent challenges Lisa Lopez hears in our Call Center surrounds tight home budgets and competing finances like health care costs. She could relate as she battled her own health care issues before losing 155 pounds.
Health care costs are on a steady upward climb. Our goal is to manage those costs, and more importantly, place People First by zeroing in on the health and safety risks that can be natural outcomes of poor health. As we see it, it does not matter if you work safely all day but have a heart attack over the weekend. Physical health is as important to us as safety.
In 2017, we enhanced our Wellness Incentive program to improve our overall health. Over a third of us are participating. Those who completed the activities to receive the Wellness Incentive have, on average, 18 percent lower health claims costs. We also launched a new weight-loss program called Real Appeal last year. More than 450 of us joined and collectively shed more than two tons – the weight of 20 baby elephants. No small peanuts!
It's been a great year, and we look forward to our continued partnership as we power dreams.
View: CPS Energy's Complete Financial Information