CenterPoint and Houston Strike Deal on Proposed Gas Rate Increase

CenterPoint and Houston Strike Deal on Proposed Gas Rate Increase

Apr 10, 2017

by Margarita Fournier; Copyright 2016 by Competitive Assets, LLC.  All rights reserved

On 4/7/17, FuelFix reported that “CenterPoint Energy reached an agreement with several Gulf Coast cities to raise gas distribution rates for the second time in two years for [more] than 1 million customers. But CenterPoint, a Houston-based transmission and distribution monopoly, struck a deal with the cities, including Houston, and the proposed rate increases will not be as high as was initially proposed. Houston bills will go up by $1.23 a month, as opposed [to] $2.59 a month; Conroe bills will rise by $4.68, as opposed to $6.04. CenterPoint also agreed to lower its allowed rate of return, granted to the company by state statute, which will lower the threshold for future rate increases. Overall, Houston and Gulf Cities residents who use an average of 34 hundred cubic feet of gas a month will pay $37.” CenterPoint is also seeking a transmission rate increase:, with the company saying that “the electric rate increase will help it recoup nearly $480 million it spent on its distribution system in 2016.”

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