HOUSTON - April 2, 2015 - CenterPoint Energy, Inc. (NYSE: CNP) announced today that on April 6, its electric transmission and distribution business, CenterPoint Energy Houston Electric, LLC (CEHE), plans to file an application for Distribution Cost Recovery Factor (DCRF) with the Public Utility Commission of Texas (PUC) and the cities in its service area.
DCRF is an interim rate adjustment that, if approved, permits an electric utility to implement new rates to account for changes in distribution invested capital since its last rate case. The application will seek to recover approximately $16.7 million in annual revenue attributable to certain capital investments the company has made in its electric distribution infrastructure since 2009. The estimated residential customer impact based on a monthly usage of 1,000 kilowatt hours is a $0.31 increase billed to the consumer’s Retail Electric Provider. New rates are expected to go into effect by September 1.
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as future regulatory actions on the DCRF application, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release.
CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns a 55.4 percent limited partner interest in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp., which owns, operates and develops natural gas and crude oil infrastructure assets. With more than 7,400 employees, CenterPoint Energy and its predecessor companies have been in business for more than 140 years. For more information, visit the website at www.CenterPointEnergy.com.