Centerpoint agrees to small rate decrease

HOUSTON – The Houston Chronicle says CenterPoint Energy has agreed to a rate decrease in its closely-watched rate case after months of settlement negotiations with city coalitions and consumer groups, the Houston-area electric utility announced Wednesday afternoon. The rate reduction amounts to approximately $0.82 per month for the average residential customer and approximately $1.28 per month for the average small business, according to CenterPoint’s announcement.

The rate reduction amounts to $50 million less per year in revenue for CenterPoint, Jason Ryan, the company’s vice president of regulatory affairs, said in an interview. CenterPoint had originally asked for a $60 million per year increase in revenue when it first filed its rate case in March, which would’ve increased electric rates for the average household by $1.25 per month. “We’re pleased that we’re going to be able to reduce customer rates while at the same time keeping up with customer expectations around resiliency and keeping up with the growth in the area,” Ryan said.