HOUSTON — CenterPoint Energy announced Friday that it will move ahead with settlement talks for its Houston electric rate case, which it had previously requested to withdraw in August.
The rate case was initially filed with the Public Utility Commission of Texas and municipal regulatory authorities on March 6.
CenterPoint said it received feedback and maintained communication with intervening parties to the rate case over the past several weeks.
The company said it plans to resume settlement talks immediately.
“Throughout the second half of the year, we’ve been acting urgently to strengthen our resiliency, including completing the first phase of the Greater Houston Resiliency Initiative, and we are making good progress on phase two. Our company’s collective focus remains on building the most resilient coastal grid in the country,” CenterPoint President and CEO Jason Wells said.
CenterPoint reported that the proposed rate increase would add about $1.25 per month to the average residential bill for customers using 1,000 kWh, representing less than a 1% increase in the total retail bill.
“Even as we have focused on rapidly hardening our system, we’ve continued to listen to our customers and parties to the rate case. Based on that feedback, we believe there is a shared interest in working toward a constructive resolution,” Wells said. “We remain focused on providing value to our customers and affordably delivering our ambitious long-term resiliency goals that are vital to Houston’s future economic growth.”
The original withdrawal request was part of the company’s response to improve and strengthen the resiliency of the energy system during hurricane season following the derecho storm in May and Hurricane Beryl in July.
“We are determined to reach an agreement that reflects our commitment to customer affordability while addressing the fact that in 2023 alone CenterPoint invested more in our system, resulting in $75 million more in costs that were not billed to customers for additional system improvements and vegetation management. We look forward to working with all parties bring resolution to this case,” Jason Ryan, executive vice president of Regulatory Services and Government Affairs, said.
