CenterPoint Energy requested that an application opposing the company's request to withdraw a scheduled rate hike be dismissed. The proposed increase was set to recover $6 billion the company invested in the electric grid.
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CenterPoint Energy is walking back a previous request to the state's Public Utility Commission to increase customer electricity bills by $1.25 monthly.
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According to the company's request documents filed by the company in March, the rate increases would have increased the company's revenue by more than $17 million. The company stated the rate would "present an opportunity to establish a solid foundation to enable CenterPoint Houston to continue meeting customer needs."
CenterPoint published a map that provides a status of energy restoration efforts in Houston. The map indicates areas that currently have energy, areas where assessment is in progress and areas where circuits are assigned for repair.
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Houston-area residents and businesses, hundreds of thousands of whom went without electricity in the days following last week’s deadly windstorm, will end up having to cover the costs associated with turning their power back on.
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The utility company said it plans to apply for interest-bearing securitization bonds to recover its storm-related costs, with that debt eventually being paid by its customers through monthly charges on their bills.
Around 35,000 CenterPoint customers around Houston were without power in the early hours of Friday morning.
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