HOUSTON – CenterPoint Energy is asking for a rate increase that would go into effect by Sept. 1 if it is approved, the company said.
CenterPoint’s electric transmission and distribution business, CenterPoint Energy Houston Electric, filed an application for distribution cost recovery factor with the Public Utility Commission of Texas and the cities in its service area, the company announced Thursday in a news release.
The increase has to be approved by the Public Utility Commission and the cities before it goes into effect.
If the DCRF -- an interim rate adjustment -- is approved, it would permit an electric utility to implement new rates to account for changes in distribution-invested capital since its last rate case, the release said.
This is the company’s third DCRF filing.
The filing represents a $44.6 million annual increase over current rates to begin recovering about $479 million in distribution capital invested in 2016, according to CenterPoint.
The rate increase would add 80 cents for every 1,000 kilowatt hours used each month by residential customers.
CenterPoint has its headquarters in Houston.