The Public Utility Commission of Texas on Oct. 2 authorized CenterPoint Energy to issue a customer rate increase—totaling approximately $1.2 billion—to cover repair and recovery costs from Hurricane Beryl and two other storms that affected the Greater Houston area.

The overview

The restoration costs will add about $2 per month to the average customer’s electricity bill, with the rate change expected to take effect later this year or early next year, according to an Oct. 6 statement from CenterPoint Energy.

The decision allows CenterPoint to spread the cost to residential customers across 15 years, saving more than $265 million in interest charges, per the statement.

During an Oct. 2 meeting , PUCT commissioners approved CenterPoint’s determination of “system restoration costs,” whi

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