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CPS Energy Indefinitely Suspends Discussions With NRG Energy
03/21/2011

Following recent conversations with NRG Energy in which the New Jersey-based company indicated its decision to slow down the development of South Texas Project Units 3 and 4, CPS Energy is indefinitely suspending all discussions with NRG regarding a purchase power agreement (PPA) for nuclear power.

“As we have indicated for months now, we are currently pursuing an array of other clean affordable supply options. Terminating discussions with NRG allows us to devote more resources in pursuit of the other options,” said CPS Energy President and CEO Doyle Beneby. “When the development of STP 3 and 4 moves forward again, our present ownership interest will remain unchanged.”

CPS Energy is not ruling out future discussions with NRG. However, if and when those discussions reconvene, the two parties would start anew.

CPS Energy currently maintains 7.625 percent ownership in the yet-to-be constructed STP units. The municipally-owned utility also owns 40 percent of the existing two units, which went into commercial operation in 1988 and 1989.




CPS Energy is the nation's largest municipally owned natural gas and electric utility, providing service to approximately 717,000 electric customers and 325,000 natural gas customers in and around the city of San Antonio. The utility ranks among the nation's lowest-cost energy providers while ranking number 1 in wind-energy capacity among municipally owned utilities.
 
 
 

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