CenterPoint Energy has successfully negotiated a settlement regarding its 2024 rate case for its Houston Electric division, in collaboration with the City of Houston and various regional municipalities.
This settlement is projected to reduce annual revenue for CenterPoint by approximately $50 million until around 2029. For customers, this translates to an average decrease of about $1 in their monthly bills, equating to roughly a 2% reduction for residential users consuming 1,000 kWh monthly.
Previously, CenterPoint had suspended its rate case in August to prioritize the Greater Houston Resiliency Initiative in the aftermath of Hurricane Beryl. Discussions resumed later in the year, culminating in this agreement with the involved stakeholders. The agreement outlines an expected rate decrease for customers and includes a plan for CenterPoint to lower its total revenue by approximately $50 million until the next rate case review.
As a result, residential customers can anticipate a monthly bill reduction of around $0.82, while small business customers will benefit from a decrease of approximately $1.28 per month.
