CenterPoint reduces Ike hike

CenterPoint Energy and the city of Houston have reached a tentative agreement to reduce the proposed monthly fee the local power distribution company hopes to add to customer bills to pay for repairs following Hurricane Ike.

CenterPoint will reduce its $677 million request by $15 million and fund a new position to monitor its implementation of recommendations from the Mayor's Electric Reliability Task Force, which were released this year. The recommendations include deploying “smart grid” technology throughout the city, creating a centralized database of customers and facilities that should receive priority in power restoration and changing tree trimming practices.