CPS Energy, the nation’s largest public power, natural gas and electric company, has plans to acquire an additional 2 percent ownership of the South Texas Nuclear Project (STP) from Constellation, bringing CPS Energy’s ownership of STP to 42 percent. Financial terms were not disclosed.
In addition, Constellation’s ownership of STP will be 42 percent and Austin Energy’s ownership will remain at 16 percent.
CPS Energy also has entered into a long-term purchase-power agreement with Constellation for an additional 200 megawatts of firm capacity, which will be available for CPS Energy customers in time for summer.
The additional 2 percent ownership of STP for CPS Energy will equate to 52 megawatts more of carbon-free dispatchable generation to the portfolio and supports CPS Energy's Vision 2027 plan that contemplates the retirement of 2,249 megawatts of older generation capacity before 2030.
To date, CPS Energy has added 1,710 megawatts of natural gas,
