ERCOT Board approves finalizing CenterPoint Energy’s generation proposal

The company states: “As part of a commitment to help meet the State of Texas’ immediate energy needs, CenterPoint Energy (CNP) welcomed today’s approval by the Electric Reliability Council of Texas Board to move ahead with finalizing CenterPoint’s proposal to utilize 15 large emergency generation units to help address the state’s generation shortfall concerns. Under its proposal, CenterPoint will make no revenue or profit from these 15 units while helping ERCOT and the State of Texas. CenterPoint’s 2.8 million Greater Houston-area electric customers will also benefit from the arraignment by seeing lower monthly bills related to this transaction by 2027. As outlined before the ERCOT Board today, and subject to finalization of mutually agreed upon documentation among the relevant parties, including ERCOT and the service provider/operator of the emergency generation units, CenterPoint will send the 15 large emergency generation units to the San Antonio area by summer 2025, for up to two years, which will help the state and ERCOT offset a projected energy shortfall. As an outcome of this proposal, CenterPoint would make its Houston Electric customers whole for the portion of the units that they have been billed for to date through a combination of rate reductions and foregoing other costs. The cost of these large temporary generation units will be removed from CenterPoint’s Houston Electric rates once they leave the CenterPoint service area in the coming months. The average Houston Electric customer will see a reduction in bills of an estimated $2/month related to this transaction by 2027.”