Center Point Energy granted rate increase

Center Point Energy granted rate increase Click to Enlarge Photo:

Sep 13, 2013 at 8:56 am

MINNEAPOLIS, Minn. (AP) More than 800,000 natural gas users in Minnesota will pay more after CenterPoint Energy got permission for a temporary 4.9 percent rate increase.

State regulators approved the increase this week for CenterPoint, which is pushing to rebuild its aging pipeline network.

CenterPoint plans to double investment in its distribution system over the next 15 years.

Houston-based CenterPoint says the company needs more rate hikes than in the past. The company has many buried pipelines built from the 1940s through the 1960s.

CenterPoint last sought higher Minnesota rates in 2008. It has a request before the Public Utilities Commission for a slightly higher permanent hike.

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