As CenterPoint Energy continues to recover from the storm, customers should anticipate a slight increase in their bills to cover the restoration costs. CenterPoint’s infrastructure suffered extensive damage, resulting in significant costs for repairs and restoration.
Transmission towers in several areas lay crumpled on the ground, countless telephone poles were destroyed, and thousands of extra employees were needed to start the recovery process as temperatures skyrocketed. CenterPoint Energy’s Executive Vice President of Regulatory Services and Government Affairs, Jason Ryan, sat down with KPRC 2′s Gage Goulding to discuss the situation.
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Goulding asked about the impact on the community’s understanding of the infrastructure damage.
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“People by now have seen pictures of the transmission towers that were significantly damaged,” Ryan explained. “Our infrastructure was impacted just as much as people’s homes and businesses.”
Goulding asked about the financial impact on CenterPoint.
“We don’t have a final estimate yet,” Ryan responded. “Given that we are still in the restoration phase of this storm. It will be at least $100 million.”
Goulding pointed out the substantial cost and asked who would be responsible for paying it.
Ryan clarified, “This cost of restoration is one of those costs of providing service to our customers. Regulators will review those costs and will allow rates to reflect those reasonable costs of restoration going forward.”
Goulding simplified the explanation, noting that customers would ultimately bear the cost.
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Ryan confirmed, “That’s right. Those costs, after being reviewed for reasonableness, will be charged to the customers that we have the privilege to serve.”
Finally, Goulding asked how much this would add to customers’ monthly bills. Ryan estimated, “Something less than a dollar a month, around a dollar amount. When all is said and done.”
