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CenterPoint Energy reaches settlement agreement with parties to lower bills for customers in its 2024 Houston Electric Rate Case

1. CenterPoint's settlement may result in $50 million less annual revenue. 2. Customers could see a $1 monthly bill decrease, aiding local economic growth.

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FAQ

Why Bearish?

The revenue reduction signals potential challenges for future profitability, similar to past rate cuts impacting other utilities.

How important is it?

The article highlights significant revenue changes impacting overall company health and customer pricing.

Why Long Term?

The long-term revenue drop could affect financial stability until at least 2029.

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Settlement expected to result in approximately $50 million less revenue annually and a reduction in electric customer bills by about $1 a month for most customers while also continuing to deliver support for significant local economic growth and upgrades across Greater Houston area Combination of rate case revenue reduction and other financial commitments, including some 2024 foregone storm recovery costs, would roughly equal the same amount that has been billed to CenterPoint customers for the temporary generation costs since 2021 Company would make no revenue or profit off of the temporary emergency generator proposal to help ERCOT and State of Texas which would have otherwise been paid by all customers across the state including CenterPoint customers HOUSTON , Jan. 29, 2025 /PRNewswire/ -- CenterPoint Energy (CenterPoint) announced today that it has reached a settlement agreement with parties to its 2024 rate case for its CenterPoint Energy Houston Electric business (Houston Electric), including the City of Houston and other regional municipalities. Subject to Public Utility Commission of Texas (PUCT) review and approval, the settlement is expected to result in approximately $50 million less annual revenue to CenterPoint through roughly 2029, and an average decrease of approximately $1 a month for most customers or approximately 2 percent of the monthly bill of residential customers that use 1,000 kWh per month.

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