Houston’s main electrical company backed off plans to raise rates after facing sharp criticism for its response to massive power outages after Hurricane Beryl.

CenterPoint Energy (NYSE:CNP) said late Wednesday that its Houston Electric subsidiary reached a settlement agreement with parties to its 2024 general rate case, which is expected to result in ~$50M less annual revenue to the company into 2029,

The rate decrease is expected to result in a $50 million loss in revenue every year to the company, a monthly rate reduction of $0.82 for residential customers and $1.28 for small business customers,

The rate reduction amounts to approximately $1 per month for the average residential customer and approximately $1.25 per month for the average small business, Jason Ryan, CenterPoint’s vice president of regulatory affairs, said in an interview.

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),

Though ERCOT doesn't expect to issue outages, some could occur in the Houston area if icy conditions materialize, CenterPoint Energy said.

CenterPoint Energy announced a settlement agreement with parties involved in its 2024 rate case for its Houston Electric business.

According to a release sent out on Saturday, CenterPoint has around 1,200 mutual aid workers who will be in the area by Monday to support any efforts to bring the lights back on. Workers will be staged at three different spots and pre-positioned to move into affected areas.

A local energy expert, meanwhile, says other factors also contributed to relatively few power outages as snow blanketed the region on Tuesday and temperatures plunged into the teens early Wednesday morning.

HOUSTON — CenterPoint Energy has reached a settlement in its 2024 rate case that will lead to lower electric bills for Houston-area customers.

CenterPoint Energy (CNP) (CenterPoint) announced that it has reached a settlement agreement with parties to its 2024 rate

CenterPoint Energy has reached a settlement agreement with parties to its 2024 rate case for its CenterPoint Energy Houston Electric