Title
Consideration of and action on a resolution suspending the April 19, 2025, effective date of CenterPoint Energy Resources Corp requested rate change for the maximum suspension time allowed.
Body
Summary:
On February 18, CenterPoint Energy Resources Corp., d/b/a CenterPoint Energy Entex and CenterPoint Energy Texas Gas (CenterPoint or the Company) made an Interim Rate Adjustment or “GRIP” filing with the cities in the Company’s Houston, Texas Coast, South Texas, and Beaumont/East Texas geographic rate areas. The Company is seeking recovery of $654,119,475 in invested capital. The current filing will increase rates to residential customers by $2.88 per month. This will increase the current residential customer charge from $19.50 to $22.38 per month in the Houston and Texas Coast Geographic Rate Areas and $25.00 to $27.88 per month in the South Texas and Beaumont/East Texas Geographic Rate Areas.
The increase is currently scheduled to go into effect on April 19, 2025.
Under the GRIP statute, cities may not challenge the Company’s request. The only action the city may take is to suspend the effective date of the rate increase by 45 days. The city has until April 19, 2025 to adopt the resolution suspending the date the rate increase would otherwise go into effect.
Fiscal/Budgetary Impact:
N/A.
Recommended action
Approve the resolution to suspend is recommended.