CenterPoint Energy Plans to Work on Resolving its 2024 Rate Case via Investing.com
- The company has completed Phase One of the Greater Houston Resiliency Initiative; continues to advance the second phase of the Greater Houston Resiliency Initiative to better prepare for the 2025 hurricane season; and will include its multi-year stabilization plan through the system
January 2025 - The company has continued to communicate with the intervening agencies and plans to resume settlement negotiations as soon as possible
Over the past few weeks, CenterPoint has received a response and continued to communicate with the intervenors in the rate case. The company plans to resume settlement talks immediately.
The initial withdrawal request was part of a company-wide commitment to urgently improve and strengthen the resiliency of the power system during this hurricane season.
“Throughout the second half of the year, we have been working urgently to strengthen our resilience, including completing the first phase of the program. Greater Houston Resiliency Initiativeand we are making good progress in the second phase. Our company is focused on building the strongest coastal grid in the country,” said CenterPoint’s President and CEO.
“Even as we focus on quickly hardening our system, we have continued to listen to our customers and stakeholders on the issue of scale. Based on that feedback, we believe there is a common interest in working towards a positive decision. We remain focused on providing value to our customers and effectively delivering on our long-term sustainability goals that are important
“We are determined to reach an agreement that demonstrates our commitment to customer acquisition while addressing the fact that only in 2023 CenterPoint invested heavily in our program, resulting in
Phase one: The Greater Houston Resiliency Initiative
Since Hurricane Beryl earlier this summer, CenterPoint has taken action in all 12 counties
In the first phase of the Greater Houston Resiliency Initiative, CenterPoint employees and contractors put in more than that 1,100 strong and durable fiberglass polesprepared greens More over 2,000 miles of electrical wiring and included more than 300 automation devices in neighboring areas throughout the region.
Phase Two: The Greater Houston Resiliency Initiative
The company’s second phase is taking a series of drastic measures in its nearly 160-year history. In early September, CenterPoint announced an extensive list of new initiatives as part of its next phase Greater Houston Resiliency Initiative, including strengthening the energy system and operations in the next eight months and before the start of the 2025 hurricane season. These broad immediate actions will: build on the work CenterPoint completed in the first phase of the Greater Houston Resiliency Initiative, continue to strengthen resilience, improve its communications and develop strong partnerships, and help strengthen its electricity system as it prepares for both the upcoming winter season and the 2025 hurricane season .
Greater Houston Resiliency Initiative Phase Two actions will help enable grid resilience, reduce the length and frequency of outages and result in fewer minutes of outages than 125 million annually for customers
- Installing new or replacing 25,000 poles that meet high wind standards;
- Trimming or removing hazardous vegetation from 4,000 miles of power lines;
- Installing 4,500 switching devices, known as trip savers, and 350 Intelligent Grid Switching Devices as part of our effort to build a self-sustaining grid that uses automation to respond to immediate outages; again
- Laying more than 400 miles of power lines underground.
Phase Three: Multi-Year System Resilience Plan
As previously mentioned, CenterPoint will introduce its revised and improved multi-year program resilience plan by the end of
Impact of Monthly Customer Billing
CenterPoint’s installation initially called for a total increase in the credit rating of customers who regularly use 1,000 kWh per month of approximately.
CenterPoint Benefits Monitoring Report
As reported in the company’s 2024 Salary Watch report to PUCT, in the 2023 calendar year, CenterPoint invested heavily in its program, resulting in
About CenterPoint Energy
As the only investor-owned electric and gas utility based in
Forward-looking statements
This news release, and the web pages related to the Greater Houston Resiliency Initiative, include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release or website pages related to Greater Houston. Step 4: The words “expect,” “believe,” “continue,” “can,” “estimate,” “anticipate,” “forecast,” “goal,” “intend,” “possible,” “goal,” “plan ,” “potential,” “anticipate,” “anticipate,” “should,” “target,” “will” or other similar words are intended to identify forward-looking statements. These forward-looking statements, including statements regarding the Greater Houston Resiliency Initiative and long-term resilience plans, including performance, timing and related matters, as well as the timing and projections of future lawsuits the values of CenterPoint and its subsidiaries, are based on. management’s opinions that are believed to be reasonable at the time and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release or website pages related to the Greater Houston Resiliency Initiative regarding future events that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release or website pages relating to the Greater Houston Resiliency Initiative speaks only as of the date of this release or the date on which such statement is made, as applicable. Important factors that could cause actual results to differ materially from those indicated by the forward-looking information provided include risks and uncertainties related to: (1) CenterPoint’s business strategies and strategic plans; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legal decisions; and (5) other factors, risks and uncertainties discussed in CentrePoint’s Annual Report on Form 10-K for the fiscal year ended.
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