CenterPoint Customers Could See 50% Increase In Their Gas Bill
CenterPoint Natural Gas customers might be in for some sticker shock when they open their monthly bills soon. In a filing with the Minnesota Public Utilities Commission on March 16th, CenterPoint began to propose their "Recovery Process for Cost Impacts Due to February Extreme Gas Market Conditions" that occurred during February's freezing cold temps.
The proposed plan is to raise the bills for CenterPoint customers to offset what the filing stated as "preliminary estimates indicate that CenterPoint Energy incurred approximately $500 million in costs between February 12 and February 22, 2021" CenterPoint is looking to start recovering those costs associated to the cold weather in February "beginning in May 2021, or as soon as possible." the filing stated.
That financial recovery process "would result in an average residential bill impact of approximately $354 over the 12-months." WHOA!
We all heard that the cold weather event that crippled the gas wells in Texas and other warm-weather states was going to hit the consumer in the pocketbook, but holy toledo that's a chunk of change.
CenterPoint also stated in the filing, that you can read in its entirety as we've put the report filing below, that it "proposes to utilize a fixed surcharge approach because it will level out bill impacts throughout the year such that customers will not experience large spikes during cold weather months."
Even if you aren't a CenterPoint customer, you will likely see some increase in your natural gas bill just due to the laws of supply and demand from the cold weather events that parts of the US experienced back in February.
These Minnesotans, although quite wealthy, will still feel this increase of their gas bills just like the rest of us.
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