| | | | |
 | | | | For more information contact |
| | | | Media: |
| | | | Alejandra Diaz |
| | | | Phone 713.207.3419 |
| | | | Investors: |
| | | | Dave Mordy |
| | | | Phone 713.207.6500 |
| For Immediate Release | | | | Page 2 of 3 |
CEHE’s transmission and distribution charges in this case currently represent approximately 37 percent of the monthly bill that residential customers using 1,000 kilowatt hours (kWh) per month pay to their Retail Electric Provider (REP), which is the company that sends customers their electric bills. Any changes to CEHE’s delivery rate would be included in the billing to the REP. The REP would then determine whether those changes would be passed on to theirend-use customers.
If the increase supported by CEHE’s filing is approved in full and passed through to the consumer by their REP, the impact to a residential customer using 1,000 kWh per month would be $2.38 per month.
The filing is also requesting permission to install voltage regulation battery technology, when necessary and cost effective, to reliably connect planned renewable energy generation projects in its service territory. In addition, CEHE is requesting an amendment to its Facilities Extension Policy to facilitate the development of public electric vehicle (EV) charging stations by reducing the financial contribution required to extend electric service to the charging stations.
Finally, CEHE is requesting a Return on Equity of 10.4 percent and to put in place a capital structure of 50 percent equity and 50 percent long-term debt in response to its increased capital investment and the continued impact of the Tax Cuts and Jobs Act of 2017.
“We believe that a fiscally healthy utility is good for customers, shareholders and the state of Texas,” added Bridge. “A competitive authorized return and more appropriate capital structure will continue to allow the company to attract low cost debt capital.”
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “objective,” “plan,” “potential,” “predict,” “projection,” “should,” “target,” “will” or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as future regulatory decisions and actions on the filing and the impact of such actions, the proposed rate increases and anticipated impact to customers, the expected capital structure and benefits derived therefrom and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Factors that could affect actual results include timing and impact of future regulatory and legislative decisions, weather variations, changes in business plans and other factors discussed in CenterPoint Energy’s Annual Report on Form10-K for the fiscal year ended December 31, 2018 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.
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