CenterPoint Energy files plan to reduce customer impact of $450 million Derecho storm recovery costs
HOUSTON, TX - CenterPoint Energy announced plans last week to spread the $450 million emergency response costs from the May 2024 Derecho storm across a 15-year period, resulting in a minimal bill increase of approximately $1 per month for customers. The proposed financing, filed with the Public Utility Commission of Texas (PUCT), aims to save customers more than $50 million in interest charges over the period.
The May 16 Derecho storm, which caused an estimated $5 billion in damages unrelated to CenterPoint infrastructure, was labeled a "once-in-a-generation" event with wind gusts exceeding 100 miles per hour and several tornadoes across Greater Houston. The fast-moving storm shattered windows, damaged homes and businesses, and downed thousands of power poles and critical equipment....