Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

February cold snap could cost CenterPoint customers additional $354, plus interest


March 17, 2021

CenterPoint said in a regulatory filing this week that it had a $500 million commodity gas tab in Minnesota over a 10-day period in February, 56% more than it spent during the entire year ending June 30.

CenterPoint Energy is proposing to spread the cost of a colossal natural gas price spike - $354 per household on average - over two years to help cushion the blow to Minnesota consumers and the company itself.

The deep freeze that paralyzed Texas last month ignited U.S. wholesale gas prices, leaving Minnesota's gas utilities with huge bills that they will pass down to ratepayers. CenterPoint residential customers could see their annual gas bill rise by about 50%.

"That's astronomical," said Annie Levenson-Falk, executive director of the Citizens Utility Board of Minnesota, a ratepayer watchdog group.


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