The utility leased the 15 large, mobile generators at a cost of more than $800 million after the widespread power failures tied to the 2021 winter storm. The generators proved largely useless in the wake of last year’s Hurricane Beryl.
CenterPoint Energy has reached a deal with the state of Texas to absorb the cost of the 15 large, mobile generators it leased, valued at more than $800 million. The move follows months of intense criticism and negotiation with lawmakers, after the generators proved useless to avert widespread power outages in the Houston area following Hurricane Beryl last year.
CenterPoint executive vice president Jason Ryan told the Texas Senate Business and Commerce Committee that customers would be made whole for what they’ve already been charged related to the generators. That will mean lower bills for customers.
“This includes a multiyear base-rate reduction that will be implemented for all of our customers before the end of this month, as well as an agreement to forgo a portion of the costs that we incurred responding to Hurricane Beryl that would otherwise have been charged to customers starting later this year,” Ryan said…