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Posted

Probably a better thread, but this has been where Centerpoint has been discussed most: 

https://www.click2houston.com/consumer/2024/11/14/audit-for-major-us-energy-company-centerpoint-after-accusations-its-overcharging-customers-100m-a-year

HOUSTON – Major U.S. energy provider CenterPoint Energy is under scrutiny following allegations of overcharging customers by $100 million annually. The Public Utility Commission of Texas (PUC) has approved an audit to examine the company’s spending of taxpayer dollars.

The PUC voted Thursday to find a third party to audit CenterPoint. Not only has the energy company been accused of overcharging, they’ve been criticized by customers and the state’s Lt. Governor Dan Patrick for spending $800M to lease 20 massive mobile generators. Fifteen of them have never been used because they’re not all that mobile -- they take days to move.

PUC Chairman Thomas Gleeson emphasized the audit will assess CenterPoint’s emergency operations and generator allocation. The audit report is expected by April.

Posted
11 minutes ago, tokamak said:

Bombogenesis sounds like a faux-Jamaican British pop reggae outfit from the late 80s that you’re embarrassed to say you listened to but lowkey had some real bangers. 

I was gonna say it sounds like it would be a song by Tricky, but we're on the same page. 

Posted
2 hours ago, Pato del Muerto said:

Sure was windy last night

lol yes - power out since 6 last night (and still), large tree fell on a bus up the street - fortunately nobody on it but the driver, who's okay.

  • 1 month later...
Posted

Gonna post here since we dont have the 2025 thread yet.

 

January TS was not on my bingo card.

Guestimating 10” of rain so far today here in Galveston.  Went from 3’ foot low tides mid morning to about 3’ high currently.  Crazy stuff.

 

 

 

IMG_3053.png

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  • 1 month later...
Posted

We don't have a centerpoint thread, but wouldn't you know it, they had their most profitable year EVER last year while failing to deliver power to 2.2 million Houstonians for days

https://www.houstonchronicle.com/business/energy/article/centerpoint-energy-reports-1-billion-profits-2024-20163633.php

CenterPoint reported a profit of more than $1 billion in 2024, despite widespread outages after the May derecho and July’s Hurricane Beryl. That’s an increase of $152 million from the company’s reported profits in 2023, and similar to its reported profits in 2022

In the fourth quarter of 2024, CenterPoint reported a profit of $248 million, an increase of $56 million from the same period last year. 

...

Much of the company’s profitability is concentrated in its Houston-area businesses. Indeed, CenterPoint's earnings are expected to continue booming in the coming years as the Houston metro’s demand for electricity increases at a “truly remarkable” pace, CEO Jason Wells told investors and analysts during the company’s earnings call Thursday morning. 

Posted

I need someone to explain to me in simple words how the city's power infrastructure being controlled by a for-profit monopoly makes any goddamn sense.

If it's to be a monopoly, shouldn't it be government-run, or at least non-profit? If it's to be for-profit, shouldn't it have competitors? How the fuck can it be both things?

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Posted
I need someone to explain to me in simple words how the city's power infrastructure being controlled by a for-profit monopoly makes any goddamn sense.
If it's to be a monopoly, shouldn't it be government-run, or at least non-profit? If it's to be for-profit, shouldn't it have competitors? How the fuck can it be both things?

See, back in the 90s, we “deregulated” the entire electric market, because making our system for-profit would lead to innovation, lower costs, and better service….and massive profits for the private enterprises.

Also, only the last thing was true.
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Posted
9 minutes ago, Brisketexan said:


See, back in the 90s, we “deregulated” the entire electric market, because making our system for-profit would lead to innovation, lower costs, and better service….and massive profits for the private enterprises.

Also, only the last thing was true.

How very tort reform-y….

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