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State: 17.08.2024 | 11PM
Sat, 09.11.2024       CenterPoint Energy
US15189T1079

Company plans to spread emergency Derecho response costs of approximately $450 million across 15 years; Customer bill impact expected to be about $1 per month Financial method expected to save customers more than $50 million in interest charges Derecho storm caused more than an estimated $5 billion in damages across the Greater Houston area unrelated to CenterPoint infrastructure

HOUSTON, Nov. 8, 2024 /PRNewswire/ -- As part of its commitment to keeping customer bills more affordable, CenterPoint Energy today filed the first phase of a securitization plan (a lower cost way of financing recovery costs over a longer time period time) with the Public Utility Commission of Texas (PUCT) that would minimize the customer impact of the major May 2024 Derecho and late May storms, that resulted in approximately $450 million in repair, equipment and emergency response costs outside of CenterPoint's normal annual rates as set by the PUCT. Using this method of financing is expected to save customers more than $50 million in interest charges over the 15-year period. 

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