Centerpoint Energy presents recovery plan for customers for the next 15 years

Angela Bonilla | Source: Community Impact | Posted 11/12/2024

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CenterPoint Energy has begun a recovery plan for its customers impacted by the May 16 derecho, which will cost customers about an additional $1 per month for the next 15 years, according to a Nov. 8 news release

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CenterPoint Energy has initiated a recovery plan for customers affected by the May 16 derecho, which will result in an additional $1 per month charge for customers over the next 15 years. The storm caused over $5 billion in damages in the Greater Houston area, leading to this recovery plan that aims to save customers $50 million in interest charges on the $450 million storm response costs.

The company has filed the first phase of the plan with the Public Utility Commission of Texas, proposing a surcharge of over $1 starting in the second half of 2025, which will decrease to below $1 in 2026. CenterPoint Energy CEO Jason Wells discussed the company's preparedness for the storm, detailing steps taken such as securing mutual assistance crew members and restoring power to over one million customers within 48 hours. Investigations and formal hearings are ongoing into the emergency response efforts of utility providers in the Greater Houston area, with the final investigation report expected to be delivered by December 1.

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Source Link: https://communityimpact.com/houston/bay-area/government/2024/11/12/centerpoint-energy-presents-recovery-plan-for-customers-for-the-next-15-years/

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Centerpoint Energy presents recovery plan for customers for the next 15 years

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