CPS Energy
CPS Energy is the largest municipally owned electric and natural gas utility in the United States, wholly owned by the City of San Antonio. It serves over 899,000 electric customers and 399,000 gas customers across Bexar, Comal, Guadalupe, and Medina Counties in Texas, with a regulated monopoly franchise and growing large-load (data center) demand.
- Company typePrivate
- Founded1860
- HeadquartersSan Antonio, United States
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
What CPS Energy does
CPS Energy is the largest municipally owned electric and natural gas utility in the United States, founded in 1860 and wholly owned by the City of San Antonio. The utility serves more than 899,000 electric customers and 399,000 natural gas customers across Bexar, Comal, Guadalupe, and Medina Counties in South-Central Texas, delivering power through an extensive transmission and distribution system and natural gas through more than 6,200 miles of underground pipelines. It is governed by a Board of Trustees appointed by the San Antonio City Council and operates as a regulated monopoly within its service territory, with rates set through a board-approved rate request process rather than market pricing.
The company's core technology stack combines regulated utility infrastructure with an emerging modernization layer: a 900 MHz private LTE wireless network (built under a $13M spectrum deal with Anterix) for grid automation and outage detection, hydrogen-blending capable natural gas generation assets (1,632 MW acquired from ProEnergy for $1.39B), utility-scale battery storage (120 MW Alamo City BESS plus a 500 MW RFP toward a 1,000+ MW Vision 2027 target), 150 MW of new solar under long-term PPAs, and a nuclear microreactor partnership with Joint Base San Antonio. Customer-facing products include the Manage My Account portal, an outage center with multi-channel alerts, commercial demand response, community solar, weatherization rebates, and payment-assistance programs.
CPS Energy's business model is subscription-recurring revenue from regulated retail electricity and gas distribution, supplemented by rapidly growing large-load (data center) revenue ($110M from 21 data centers today, with demand projected to grow from ~324 MW to 3,300+ MW by 2033). The customer base spans residential, commercial and industrial, large-load/data center, and adjacent municipal and military segments. Recent strategic activity centers on generation M&A, grid modernization, energy transition assets, and cross-jurisdictional infrastructure partnerships (e.g., Corpus Christi desalination).
CPS Energy firmographics
Firmographics- Name
- CPS Energy
- Legal name
- CPS Energy
- Website
- https://cpsenergy.com
- Company type
- Private
- Founded year
- 1860
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- CPS Energy is the largest municipally owned electric and natural gas utility in the United States, wholly owned by the City of San Antonio. It serves over 899,000 electric customers and 399,000 gas customers across Bexar, Comal, Guadalupe, and Medina Counties in Texas, with a regulated monopoly franchise and growing large-load (data center) demand.
- Ownership category
- akta.pro rank
CPS Energy industry classification
Industry- Product category
- Electric and Gas Utility
- NAICS
- Utilities (22), Electric Power Generation, Transmission and Distribution (2211), Natural Gas Distribution (221210), Electric Power Generation (22111)
- SIC
- Electric, Gas & Sanitary Services (4900), Electric Services (4911), Natural Gas Distribution (4924)
- akta.pro primary industry
- Local Distribution Company (LDC) Natural Gas Distribution Utilities (TLAGADAA)
- akta.pro secondary industry
- Captive & Embedded Gas-Fired Power Generation (Industrial/Commercial CHP) (EUALALAB)
Keywords
Where CPS Energy is headquartered
LocationHeadquarters
- HQ city
- San Antonio
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
CPS Energy business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D
Revenue model
- Retail electricity distribution and sales: CPS Energy generates the majority of its revenue through retail electricity sales to residential, commercial, industrial, and large load customers (including data centers) within its service territory. As a municipally owned utility, revenues fund operations, infrastructure, and city contributions rather than shareholder returns.
- Natural gas distribution: CPS Energy delivers natural gas to over 399,000 customers across Bexar, Comal, Guadalupe, and Medina Counties via over 6,200 miles of underground pipelines. Revenue is derived from gas delivery charges and gas cost adjustments passed through to customers.
- Large load / data center power agreements: CPS Energy currently powers 21 data centers generating $110 million in revenue, with 59 future projects in planning stages. Revenue from large-load customers is growing rapidly as data center demand is projected to surge from roughly 324 megawatts to over 3,300 megawatts by 2033.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Residential electricity and gas rates |
| Subscription | Monthly | Commercial and small business rates |
| Subscription | Monthly | Large load customer rates |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels7 records
CPS Energy product offering
Product offeringCore offering
CPS Energy is a municipally owned electric and natural gas utility that generates, transmits, and distributes electricity and natural gas to residential, commercial, industrial, and large-load customers (including data centers) across Bexar, Comal, Guadalupe, and Medina Counties in South-Central Texas. It supplements these core utility services with energy efficiency, demand response, community solar, weatherization rebates, payment assistance, and outage management offerings.
Product overview
CPS Energy is a municipally owned utility providing electricity and natural gas services to the San Antonio region. The company operates as a single unified utility service with various customer-facing programs and platforms including online account management, outage tracking, demand response, solar programs, and financial assistance initiatives. These offerings function as integrated components of the core utility service rather than separate product modules.
Differentiator
Problem solved
Functional benefit
Products and services
- Residential and Commercial Electricity Service Regulated electric generation, transmission, and distribution service delivered to approximately 899,000 residential, commercial, and industrial customers across Bexar, Comal, Guadalupe, and Medina Counties in Texas.
- Natural Gas Service Regulated natural gas distribution service provided to more than 399,000 residential, commercial, and industrial customers across the same South-Central Texas service territory.
- Commercial Demand Response Program A demand-side management program that allows commercial and industrial customers to voluntarily reduce electricity usage during peak periods in exchange for incentives, helping CPS Energy manage grid load and integrate large flexible customers.
- Community Solar Program A shared solar program that enables residential and commercial customers to subscribe to a portion of a community solar project and receive credits on their utility bill without needing rooftop installation.
- Casa Verde Weatherization Rebate Program An energy efficiency rebate program that provides residential customers with incentives for whole-home weatherization measures such as insulation, air sealing, and related upgrades to lower energy usage.
- Payment and Customer Assistance Programs Bundled billing and assistance offerings, including budget billing, payment extensions, and bill assistance for income-qualified residential customers facing hardship.
Quantifiable outcome
- Acquisition of 1,632 MW of natural gas generation at $850/kW (vs $2,000-$2,500/kW new construction), potentially saving San Antonio customers $2-$4 on monthly electric bills
- +4 more outcomes
Companies that use CPS Energy
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles3 records
CPS Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
CPS Energy partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core, strategic, minor and supporting.
- OCI EnergycoreOCI Energy is developing the Alamo City Battery Energy Storage System (120 MW/480 MWh) in Bexar County, Texas under a long-term Storage Capacity Agreement with CPS Energy. The project broke ground on May 19, 2026, with commercial operation expected in 2027. This is one of the largest standalone battery storage projects in the region.
- Joint Base San Antonio (JBSA)strategicCPS Energy announced a partnership with Joint Base San Antonio to support the development of a nuclear microreactor at the military installation. The U.S. Air Force, in conjunction with the Defense Innovation Unit, selected JBSA as the third potential location for the project, with Antares Nuclear chosen to develop and operate the microreactor.
- Ashtrom Renewable EnergycoreAshtrom Renewable Energy is developing the El Patrimonio solar project (150 MW near San Antonio, Texas) under a 20-year Power Purchase Agreement with CPS Energy. CPS Energy will offtake approximately 70% of the project's electricity output, with the remainder sold in the Texas open electricity market. Construction began in 2025 with completion expected in 2027.
- AnterixcoreAnterix signed a $13 million spectrum sale agreement (50% upfront, 50% payable Q4 2027) with CPS Energy for 900 MHz broadband spectrum. The transaction enables CPS Energy to deploy a private LTE network for mission-critical utility operations including advanced grid automation and faster outage detection. CPS Energy became the first utility to advance under Anterix's funding program.
- GridStorminorGridStor is acquiring the Hidalgo County BESS from developer Balanced Rock Power and is developing the Gunnar Reliability Project in ERCOT's Lower Rio Grande Valley. Separately, CPS Energy issued a 500 MW BESS RFP under its Vision 2027 Generation Plan, which GridStor may respond to.
- ProEnergycoreCPS Energy completed its $1.39 billion acquisition of a 1,632 MW power generation portfolio from ProEnergy in Southeast Texas, adding 34 generators (two-thirds equity in WattBridge, a ProEnergy subsidiary). The plants feature hydrogen-blending capabilities and can power over 408,000 homes.
- LG Energy Solution VertechcoreLG Energy Solution Vertech is supplying battery storage technology for the Alamo City BESS project (120 MW/480 MWh) being developed under a long-term Storage Capacity Agreement with CPS Energy.
- Elgin Power SolutionscoreElgin Power Solutions is serving as the EPC (Engineering, Procurement, and Construction) contractor for the Alamo City BESS project being developed under a long-term Storage Capacity Agreement with CPS Energy.
- Black & VeatchsupportingBlack & Veatch serves as technical advisor for the Alamo City BESS project being developed under a long-term Storage Capacity Agreement with CPS Energy.
- SOLV EnergycoreSOLV Energy is the construction partner for the El Patrimonio solar project being developed by Ashtrom Renewable Energy under a 20-year PPA with CPS Energy. This is the first joint project between Ashtrom and SOLV Energy in Bexar County.
- VIA Metropolitan TransitsupportingCPS Energy, in partnership with VIA Metropolitan Transit, EDL, and Republic Services, has been supplying renewable natural gas (RNG) to fuel San Antonio's public bus fleet since 2021. The project processes waste gas from a local landfill to fuel nearly 450 compressed natural gas buses, with over half of VIA's fuel supplied by RNG in 2024.
- Antares NuclearsupportingAntares Nuclear was chosen to develop and operate the nuclear microreactor at Joint Base San Antonio under a partnership between CPS Energy, the U.S. Air Force, and the Defense Innovation Unit.
- Corpus ChristisupportingCorpus Christi City Council authorized staff to work with CPS Energy to explore developing a seawater desalination project at CPS Energy's Barney Davis power plant as the city faces a critical water emergency. The project is part of Corpus Christi's nearly $1 billion water efforts.
Scale indicators11 records
Recent moves6 records
Expansion highlights6 records
CPS Energy competitors and assessment
Company assessmentDirect peers
- Austin Energy: City of Austin's municipally owned electric utility serving ~500,000 customers in Central Texas. Closest direct peer given shared municipal governance, Texas service territory, and similar customer mix, though Austin Energy is electric-only.
- Los Angeles Department of Water and Power (LADWP): The largest municipal utility in the United States, serving ~1.5 million electric customers in Los Angeles. Comparable as a large, municipally owned utility with a diversified generation portfolio and similar regulatory/customer-service dynamics, though LADWP is electric-only and tied to water operations.
- Sacramento Municipal Utility District (SMUD): California's largest municipal electric utility serving ~700,000 customers. Direct peer as a community-owned utility pursuing aggressive clean energy targets with a similar customer-service and program-driven operating model.
- JEA (Jacksonville Electric Authority): Municipally owned combined electric, water, and wastewater utility serving Northeast Florida with ~500,000 electric customers. Closest peer structurally as a community-owned combined utility under a board appointed by city council, similar to CPS Energy's governance model.
- CenterPoint Energy: Investor-owned Houston-based utility providing electric transmission/distribution and natural gas to customers across Texas and the Midwest. Direct peer in Texas with overlapping electric and gas distribution franchises, though investor-owned rather than municipal.
- Oncor Electric Delivery Company: Texas's largest regulated electric transmission and distribution utility, serving over 10 million customers across the state. Direct peer for CPS Energy's electric T&D operations and Texas grid integration work, though transmission-only without retail or gas services.
- Tennessee Valley Authority (TVA): Federal corporation providing electricity across Tennessee and six surrounding states, serving ~10 million people. Comparable as a large public-power utility with generation, transmission, and distribution across a multi-county service territory and a similar mission-driven mandate.
Broad incumbents
- Xcel Energy: Multi-state investor-owned utility serving ~3.7 million electric and 2.1 million gas customers across eight Western and Midwestern states. Comparable combined electric/gas operator and was co-recognized with CPS Energy in the 2025 E Source Website Benchmark, indicating overlapping customer-excellence practices.
- ConEdison: Investor-owned combined electric, gas, and steam utility serving New York City and Westchester County. Comparable as a large regulated combined utility with high customer density, though investor-owned, geographically distant, and focused on dense urban service territory.
- Duke Energy: One of the largest U.S. investor-owned utilities serving ~8.4 million electric and 1.7 million gas customers across the Carolinas, Florida, Ohio, Kentucky, and Indiana. Comparable combined electric/gas operator with significant regulated rate base, but at materially larger scale and with a profit-driven rather than community-ownership mandate.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
CPS Energy social profiles
Digital presenceCPS Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
CPS Energy leadership team
Management profileNumber of profiles
Profiles2 records
CPS Energy funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CPS Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CPS Energy
What does CPS Energy do?
CPS Energy is a municipally owned electric and natural gas utility that generates, transmits, and distributes electricity and natural gas to residential, commercial, industrial, and large-load customers (including data centers) across Bexar, Comal, Guadalupe, and Medina Counties in South-Central Texas. It supplements these core utility services with energy efficiency, demand response, community solar, weatherization rebates, payment assistance, and outage management offerings.
Is CPS Energy a public or private company?
CPS Energy is a private company. It is classified as state government owned and is currently operating.
When was CPS Energy founded?
CPS Energy was founded in 1860. It employs 1,001 to 5,000 people.
Where is CPS Energy based?
CPS Energy is headquartered in San Antonio, United States, in the North America region.
How does CPS Energy make money?
Three revenue lines are on record. Retail electricity distribution and sales are the primary driver. The others are natural gas distribution and large load / data center power agreements.
Who are CPS Energy's main competitors?
Direct peers on record are Austin Energy, Los Angeles Department of Water and Power (LADWP), Sacramento Municipal Utility District (SMUD), JEA (Jacksonville Electric Authority), CenterPoint Energy, Oncor Electric Delivery Company and Tennessee Valley Authority (TVA). Broad incumbents are Xcel Energy, ConEdison and Duke Energy.
Does CPS Energy have an API?
No public API is recorded for CPS Energy.
What industry is CPS Energy in?
CPS Energy's product category is Electric and Gas Utility. Its primary akta.pro industry code is TLAGADAA, Local Distribution Company (LDC) Natural Gas Distribution Utilities, with a secondary code of EUALALAB, Captive & Embedded Gas-Fired Power Generation (Industrial/Commercial CHP). Its NAICS code is 22 and its SIC code is 4900.