CenterPoint Energy seeks major rate hike

Published 1:49 pm Saturday, August 3, 2013

MINNEAPOLIS — 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 Houston-based energy company said 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.

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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 asked for.