CenterPoint expects Houston storm-related costs to be $100 million

CenterPoint Energy is expected to request securitization bonds to recover costs related to storm damage after downed transformers and other severe damage.According to the company, they expect the costs for restoration efforts to be at least $100 million and will seek approval from the Public Utility Commission of Texas in late 2024.

The Company expects that it would seek approval from the Public Utility Commission of Texas in late 2024 to apply for securitization bonds to recover storm-related costs.This is a standard process for recovery efforts that has been used on previous restoration efforts following extreme weather situations allowing costs to be spread out over time to reduce impacts to monthly energy bills. If approved, it is expected that these costs would start being incurred on customer bills in mid-2025.

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