CenterPoint Energy Outlines Plan to Minimize May 2024 Derecho Storm Bill Impact for Electric Customers
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CenterPoint Energy plans to spread the $450 million cost of the May 2024 Derecho storm over 15 years, minimizing the impact on customer bills to about $1 per month. This financial strategy is expected to save customers over $50 million in interest charges.
November 09, 2024 | 2:30 am
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CenterPoint Energy is implementing a securitization plan to spread $450 million in storm-related costs over 15 years, reducing the monthly bill impact for customers and saving over $50 million in interest charges.
The securitization plan allows CenterPoint Energy to manage the financial impact of the storm costs effectively, reducing the immediate burden on customers and potentially improving customer satisfaction. This could positively influence investor sentiment and the stock price.
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