CenterPoint withdraws request to fund $2.7 billion resiliency plan
Jonathan Diamond, Neena Satija, Claire Hao | Source: Houston Chronicle | Posted 08/03/2024
In a Thursday filing with the Securities and Exchange Commission, the company said it was “withdrawing both its application with the Public Utility Commission of Texas (‘PUCT’) requesting authority to change rates and charges for electric transmission and distribution service … and its application for approval of its transmission and distribution system resiliency plan … filed with the PUCT on April 29, 2024.”
AI generated summary
CenterPoint Energy has decided to withdraw its request to increase electricity rates and a proposed $2.7 billion resiliency plan following intense criticism of its response to Hurricane Beryl. The company disclosed this decision in a filing with the Securities and Exchange Commission, citing a need for a broader assessment of additional system resiliency opportunities before potentially refiling a subsequent plan in the future.
The withdrawal of the rate increase request and resiliency plan comes as CenterPoint faces backlash for power outages affecting over 2.2 million customers after the hurricane. The company is shifting its focus towards addressing storm impacts, enhancing preparedness efforts, and accelerating resiliency measures for future storm seasons, while consumer advocacy groups continue to urge caution before any rate increases are considered pending ongoing regulatory investigations.
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Source Link: https://www.houstonchronicle.com/business/energy/article/centerpoint-resiliency-plan-puc-withdraw-19615752.php
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