CenterPoint seeks major MN rate hike

CenterPoint seeks major MN rate hike Click to Enlarge Photo:

Aug 4, 2013 at 7:22 am

MINNEAPOLIS (AP) — One of Minnesota's largest energy companies is asking the state to approve would be its largest-ever rate hike in Minnesota.

CenterPoint Energy's plan aims to reduce large spikes in residential energy bills during winter months, but would offset it with higher payments in the summer. The Star Tribune reports Saturday that the Houston, Texas-based energy company says it needs a $44 million increase in revenue mainly because it has doubled investment in pipelines to enhance safety and reliability.

CenterPoint serves 806,000 customers in 260 communities in the state, including Minneapolis.

Review of the company's request by the state's Public Utilities Commission could take months. The PUC has a history of authorizing smaller hikes than what CenterPoint requested.

JW Cox

Posted By JW Cox

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