HOUSTON, Texas (KTRK) — Following two devastating storms and widespread power outages, CenterPoint Energy is proposing that its customers help cover its financial losses. The company estimates that restoration efforts after the derecho and Hurricane Beryl will cost around $1.8 billion.
CenterPoint has requested approval from the Public Utility Commission (PUC) for a 2% rate increase, which would allow them to recoup between $1.5 billion and $1.7 billion of the storm-related expenses. This proposed increase would impact customers over the next 15 years.
CenterPoint customer Sawana Sillett, who was without power for six days after Beryl, expressed frustration and concern, saying, “You just kind of want to know, ‘Where is my money going?’ and, ‘How is it being spent?'” This sentiment is shared by many Houstonians.
The company’s response to the storm has faced widespread criticism, leading to investigations by the State Senate and the PUC. State Sen. Paul Bettencourt, R-Houston, voiced strong disapproval, stating, “They are a public utility company that gets a guaranteed profit. They need to get the job done, and otherwise, we have to guarantee they have less of a service area, or we have to find someone else who can do the job.”
CenterPoint recently reported a significant increase in income, from $118 million in the second quarter of the previous year to $228 million in the same period this year. Despite this, legislators from both parties oppose the idea of passing hurricane-related costs onto customers.
State Sen. Carol Alvarado, D-Houston, emphasized the need for accountability, stating that every expenditure should be scrutinized closely by the PUC. She insisted that CenterPoint must be held to higher standards moving forward.
Sillett echoed these concerns, questioning the efficacy of public statements versus actual actions, saying, “It is a good show on the cameras, but what are you really doing? That is my question.” Many customers hope lawmakers will take decisive action to ensure better service and accountability from the utility company.
