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Centerpoint Dealt Defeat In Rate-Hike Agreement

Posted by Josh On April - 8 - 2021

CenterPoint also asked regulators when it filed its application in April to increase its authorized performance, a proxy for profit, to 10.4 percent of 10 percent, which was established a decade ago. Under the agreement, CenterPoint expected a return on equity of 9.4%. “While we didn`t get everything we wanted in this regulation – it`s just the kind of agreement of this kind – we finally got a fair result that will limit the increase in electricity bills for the citizens of our communities,” said Chris Brewster, a lawyer for the coalition. The transaction agreement represents only a fraction of the rate increase sought by CenterPoint, the regulated distribution company that distributes most of the electricity in the Houston area. It reduces the transportation and distribution costs of most electricity bills in residential real estate by about 2 percent compared to the previous year. CenterPoint also agreed to reimburse its expenses to the cities participating in the tariff procedure and agreed not to recover the money under the agreement. The PUCT has approved the settlement agreement between CenterPoint Energy Houston and several interest rate incidents, except that its language “seems to engage future commissions,” President DeAnn Walker said on February 14, adding: “I don`t think we can place an order linking future commissions. Memphis` poverty and broken power grid played a role in Memphis City Council`s defeat of a 30 percent increase in waste on Tuesday, a blow to the government`s government`s efforts to pay for changes already made to Memphis` garbage department. The agreement also provides for CenterPoint to reduce its return on equity or earnings to 9.4%.

CenterPoint asked the Commission to increase return on equity from 10 percent to 10.4 percent. The Gulf Coast Coalition of Cities, a group of 39 cities in the Houston area with customers served by CenterPoint, described the agreement as a good result for the service company`s 2.4 million customers in the Houston area. The defeat, which was the result of a rare 6-6 draw (see history for the votes below), represents a scenario in which the municipality could ask the council for more general funds to compensate for what residents` prices do not cover. Before the vote, the city`s director of solid waste, Al Lamar, raised the possibility of not making a pay slip without the increase in interest rates. The Intervenors, who are “speechless against the agreement,” are Texas Competitive Power Advocates, Power Generator Calpine Corp., Olin, Solar Energy Industries Association, Enel X North America, Generation Park Management District and McCord Development. CenterPoint Energy, the regulated distribution company that distributes most of the electricity in the Houston area, has agreed to a lower interest rate hike and lower profit margin, as indicated by a settlement agreement filed Thursday afternoon by the distribution company with state regulators. The agreement must be approved by the Stadtwerke committee, which is expected to host it next week. The Houston Chronicle reported on the problem and found that cities could challenge CenterPoint`s proposed rate hikes, but added that the utility had previously reached an agreement with the city of Houston not to open interest records by 2016. Houston is not part of the urban coalition. CenterPoint agreed to increase the rate by $13 million, or less than 10 percent of the $161 million the company sought, under an agreement with major electricity consumers, electricity vendors and cities. The company submitted the proposal Thursday afternoon to the municipal plant commission.

The distribution company aimed to increase electricity bills by $161 million, which would have increased electricity bills by 2.38 $US per month for customers who consumed 1000 kilowatt hours of electricity. CenterPoint said it needed the extra revenue to pay for new power lines, to hold account

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