CPS Energy institutes hiring freeze, budget cuts - San Antonio Business Journal:

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is planning on decreasing the power company’s operatinvg budget by 10 percent. The utility has also announcex ahiring freeze. CPS Energuy attributes the budget cuts to businesses and individuals using less energyand slower-than-projected growthh in San Antonio. “We saw customers’ use of electricityt and natural gas drop belowq projected levels in thefirst quarter,” says CPS Energy’sw interim general manager Steve Bartley.
“As an extra precautionary we’re tightening our belt to help reducde costs for our customers and to protecgt the revenues that go toour owner, the city of San Antoniko — revenues that make up a substantial part of the city’zs budget and fund important services for our community.” CPS Energhy will also suspend pay raisesz for executives and delay capital projects that are not critical to supporting safety, reliability or “But we want to make sure that our company remains financially viable for our customers, who are also our Bartley says.
“We have focusedc on operating more efficientluy over the pastfew years, and like everyonw else in today’s tough economy, we are even more mindfulk of our spending.” Since 2001, CPS Energyu has reduced its workforce througy attribution from 4,300 employees to about CPS Energy is the nation’s largestg municipally owned energy companyu that provides both natural gas and electricx service. www.cpsenergy.
com