CenterPoint Energy seeks rate increase starting February 2024 in new proposal - KPRC Click2Houston
CenterPoint Energy seeks rate increase starting February 2024 in new proposal
HOUSTON – CenterPoint Energy has filed with the Public Utility Commission of Texas on Dec. 14 to increase customers energy bills by February 2024, according to its proposal.
The increased rate would help cover the cost of CenterPoint Energy’s investments to upgrade and build powerlines that are “necessary to maintain a safe and reliable distribution system,” the proposal stated.
The new rate would increase for an average residential customer from $2.67 per month to $4.20 per month, according to the proposal.
This is CenterPoint Energy’s third DCRF filing since the company’ last base rate proceeding on Sept. 1.
In September, the companies that own the lines and wires increased transmission and distribution fees ( TDSP fees). This is a pass-through charge on your electric bill. The TDUs charge the retail electric providers, and they pass the fees along to you.
CenterPoint Energy is the company that owns the electric infrastructure in the greater Houston area. Texas New Mexico Power owns the lines, wires, and meters in the Galveston County area. Every year on March 1st, the TDSP fees typically decrease ahead of the summer season when electric usage goes up. On Sept. 1, the TDSP fee increase as electric usage goes down in the winter months.
CenterPoint’s new rate is 5.46/ kWh, an increase of 1.7 cents/ kWh over the rate customers have paid since March 1, 2023. For a customer using 3000 kWhs a month, you will pay an extra $51 after Sept. 1.
In Texas New Mexico Power’s service area, TDSP charges went up by 1.5 cents/ kWh. Customers in TNMP’s area will see an increase of $45 using 3000 kWh of electricity.
On Dec. 14, the City of Houston filed a motion to intervene to as a party, which will give the city the ability to make legal arguments, conduct discovery, file testimony, cross-examine witnesses if granted by PUC.
Read CenterPoint Energy’s full proposal:
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