CPS Energy Selects Frank Almaraz for Permanent CEO Role
The utility’s board has chosen its interim leader for the permanent position, with a contract negotiation period still to follow.
CPS Energy’s board has selected Frank Almaraz to become the San Antonio utility’s permanent chief executive, subject to agreement on his employment contract. The September 28 decision starts negotiations rather than completing the appointment.
Almaraz has led the utility on an interim basis since June. He previously served as chief operating officer and also worked at CPS Energy from 2011 to 2021, giving him experience inside the municipally owned utility.
A leadership transition still to complete
The board is allowing approximately a month for contract discussions, with an October vote expected if terms are agreed. Almaraz succeeded Rudy Garza on an interim basis after Garza left for the Lower Colorado River Authority.
For construction and infrastructure businesses, the distinction matters: the selection establishes the board’s preferred leader, while the employment agreement remains the next formal step. It does not itself award a construction contract or change an individual capital project’s scope.
The financial backdrop
The decision comes as CPS Energy manages softer electricity revenue. TPR reported that local revenue was approximately $17 million below forecast and wholesale revenue roughly $20 million to $25 million below expectations. Milder weather and changes in the wider power market were among the factors discussed.
A utility’s capital work must be planned alongside demand, operating costs and reliability needs. Contractors following CPS Energy should continue to track individual procurement notices and approved investment decisions separately from this leadership announcement.