CenterPoint Energy Reaches Settlement In 2024 Rate Case

CenterPoint Energy

29.76 CHF 1.67%

• Charts
• News
• Analysen

Kaufen / Verkaufen

(RTTNews) - CenterPoint Energy has reached a settlement agreement with parties to its 2024 rate case for its CenterPoint Energy Houston Electric business, including the City of Houston and other regional municipalities.

The settlement is expected to result in approximately $50 million less annual revenue to CenterPoint through roughly 2029, and an average decrease of about $1 a month for most customers, or approximately 2 percent off the monthly bill of residential customers using 1,000 kWh per month.

CenterPoint had temporarily withdrawn its rate case in August to focus on the company's Greater Houston Resiliency Initiative following Hurricane Beryl. The company resumed talks in the fall, and this settlement agreement reflects discussions with intervening parties. It includes both an anticipated rate reduction for customers and a proposal for CenterPoint to reduce its overall revenue by approximately $50 million until the next rate case.

Residential customer bills will see a decrease of about $0.82 a month, while small business customer bills will be lower by about $1.28 a month.